Statutory Liquidity Ratio
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Rs 80,000 cr PSB recapitalisation bonds won't impact fiscal deficit, says finance ministry
•The finance ministry said on Wednesday that Rs 80,000 crore recapitalisation bonds, to be issued to public sector banks (PSBs) as part of Rs 2.11 lakh crore capital support over 2 years, will not have impact on fiscal deficit as they will be cash neutral
RBI cuts statutory liquidity ratio by 0.5%; frees Rs 57,000 cr for lending
•According to bankers, cut in statutory liquidity ratio will not much of the difference as several banks are holding in excess of statutory requirement
RBI likely to cut rate on 2 Aug as inflation at record low, industrial activity stays weak
•The retail inflation, which the RBI mainly factors in while deciding interest rate, has declined to historical low of 1.54 percent in June.
RBI monetary policy as it happened: Disappointed by status quo, says SBI chief
Fp Staff •Ahead of the Reserve Bank of India (RBI) bi-monthly monetary policy review, the Indian equities markets opened on flat note on Wednesday. Investors are cautious ahead of the key announcement, and expect the central bank to ease its key lending rates.
RBI issues operating guidelines for payment banks, small finance banks
•Small Finance Banks will have to follow norms relating to minimum balance, inoperative accounts, nominations, and cheques/drafts.
RBI allows banks to bring down SLR to 20.5% by March 2017
Fp Archives •The gradual reduction in SLR reduces the risk of large government borrowings crowding out the private sector investments over the long term, analysts said.
Gold monetization scheme: Why offering higher rate of interest is critical for its success
Dinesh Unnikrishnan123 •Going by the draft, under the GMS, an individual or entity can walk into a test centre and gets the gold melted, purity assessed and converted into bars, against which the bank will issue a certificate to the holder.
PNB cuts fixed deposit rate by 0.25% on select maturities
Fp Archives •Following policy action, several banks, including market leader State Bank of India reduced its base rate or minimum lending rate to 9.70 percent from 9.85 percent effective 8 June.
Gold scheme: Banks may offer interest on deposits of above 30 gms
Fp Archives •The government is trying to convince households, who sometimes have little faith in financial institutions, to break the tradition and hand over gold passed down the generations.
RBI may allow partial SLR conversion to meet Basel-III norms
Fp Archives •The Basel III framework, which was adopted in the wake of the 2008 global financial crisis to safeguard banks in case of stress, seeks a higher liquidity coverage ratio that requires banks to hold marketable high quality liquid assets.