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Finance


Lenders haven’t fully passed on the central bank’s latest interest rate cut to borrowers, pressuring the monetary authority to loosen policy even more to support economic growth. A mismatch between deposits and credit growth and competition from the government for small-savings mean banks face a high cost of capital, limiting their ability to transmit monetary …

In a first, State Bank of India (SBI), the country’s largest lender, has linked savings account deposit and short-term loans to an external benchmark rate—repo rate. Repo rate is the rate at which the central bank lends to commercial banks. From May 1, savings bank deposits with balances above Rs 1 lakh will be linked …

Amazon.com has decided to stop telling third-party sellers on its platform that they cannot offer l ower prices on competing websites, a source said on Monday. The source gave no details on the decision. The decision comes in the wake of a letter from Senator Richard Blumenthal arguing that the practice would “stifle market competition …

President Donald Trump, the self-proclaimed Tariff Man, is placed to become the $100 Billion Man. If the courses of the past year and economists’ expectations hold true, trade data to be released Wednesday will show the US’s deficit in goods and services with the world topped $600 billion in 2018. That means Trump’s presidency will …

Transactions worth more than Rs 13,000 crore at Infrastructure Leasing & Financial Services (IL&FS) could be linked to irregularities such as conflicts of interest, inadequate risk assessment and departure from banking norms, audit firm Grant Thornton India has said in its interim report to the board of the embattled infrastructure financier. The 166-page report, a copy …

Private sector Karnataka Bank Monday declared the RBI has slapped a fine of Rs 4 crore on the bank for violating regulatory norms. The Reserve Bank of India has levied an aggregate penalty of Rs 40 million on the bank for postponed implementation of four of the Swift related operational controls. Swift is the global messaging software …

Here’s a monthly update on our favored large-cap mutual funds to invest in 2019. The good news is that there is no variation in the recommendations. Many careful and new investors typically search for equity mutual fund schemes that will help them to create wealth without too much risk and volatility. If you are such an investor, …

PSBLoansin59minutes.com, an online loan esteem platform connecting public sector banks with small and medium enterprises (SMEs), has become the largest “online lending platform” in the country within three months of its launch, according to a Credit Suisse report. That wave comes as state-run banks continue to struggle with low profits and bad loans. The platform has …

After locking horns with the Centre, RBI seeking for middle ground on many issues

The norms introduced by the RBI for compensation of chief executives and board members of private sector banks have been viewed as an effort to improve transparency and accountability of the banking system. Variable pay In a discussion paper, RBI had stated that 50% of the compensation should be variable and that employee stock options …

Prime Minister Narendra Modi Thursday announced the fundamentals of the Indian economy were sound and it is on the way to becoming a $5 trillion economy soon. Addressing the India-Korea Business Symposium in Seoul, he said India was now a more open economy and had attracted $250 billion foreign direct investment (FDI) in the last …

The rupee dived 17 paise to close at 71.24 against the U.S. dollar on Wednesday amid a flare-up of tensions among India and Pakistan. Firming crude oil prices, month-end dollar demand from oil importers and a weak sentiment at domestic equity markets weighed on the rupee, analysts stated. At the Interbank Foreign Exchange (Forex) market, …

The BSE benchmark Sensex rallied about 265 points to 36,132 in the preceding session on Friday as the March derivatives series took off on a strong footing and foreign fund inflows fuelled the uptrend. The 30-share Sensex burst by 264.99 points, or 0.75 %, to 36,132.43 in early trade. The gauge had lost over 346 …