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PTI
May 31, 2021
Pepperfry co-founder and COO Ashish Shah while sharing plans to expand offline studios told PTI that the company expects to turn profitable as soon the market opens


BusinessToday.In
May 31, 2021
Such references to the circular by banks or regulated entities are not in order as this circular was set aside by Supreme Court on March 04, 2020, says RBI


Anand Adhikari
New Delhi, May 31, 2021
The Reserve Bank of India (RBI) has been quite supportive post-Covid as it pumped in over Rs 15 lakh crore of liquidity, which was 8 per cent of the GDP. Undoubtedly, the surplus liquidity has helped the corporate sector and banks as they got low-cost funds and also enjoyed the benefits of moratoriums and loan restructuring. The low-interest rates also supported the government in raising huge market borrowings at the lowest cost in the last two decades. But these liquidity operations do entail some costs to the RBI. What surprised many the Rs 1 lakh crore dividend paid by the RBI to the government out of its surpluses in 2020-21. The financial year was of only nine months (July-March) as the central bank changed its accounting year from July-June to April-March. The RBI's annual account shows a net interest outgo of Rs 17,000 crore in liquidity adjustment facility (LAF) operations which include repo, reverse repo, and open market operations. The liquidity in the system also increased by way of RBI's foreign exchange buying operations. Today, the foreign exchange reserves cover the country's 18 months of imports, which is very high. These reserves are low-yielding. In a pandemic year, the RBI has also decided to keep the contingency risk buffer at a lower level of 5.5 per cent of its balance sheet against a higher band of 6.5 per cent. There are experts who suggest that RBI doesn't need a strong balance sheet as government banking exists if there is a crisis. But the bigger question is of central bank independence and the public trusts in the institution.Also Read: Deadline for filing monthly GST sales returns extended to June 26


PTI
May 30, 2021
Taking cognisance of the prevailing situation, the RBI announced Resolution Framework 2.0 under which individuals and small businesses having exposure up to Rs 25 crore can opt for loan restructuring if they had not availed the earlier scheme


BusinessToday.In
May 28, 2021
SBI said that due to the resurgence in COVID-19 cases, KYC will be updated on the basis of documents received via post or registered email


BusinessToday.In
May 28, 2021
Paytm IPO news: The Vijay Shekhar Sharma-backed digital payments platform plans to list on the NSE and BSE in November this year


PTI
May 27, 2021
In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 85.7 per cent of the total value of banknotes in circulation as on March 31, 2021, as against 83.4 per cent as on March 31, 2020


BusinessToday.In
May 27, 2021
Paytm plans to make its market debut in India around November this year.  The IPO will include a mix of new and existing shares to meet regulatory obligations in India


BusinessToday.In
May 27, 2021
IPO process will eventually start in late June or July. The IPO debut will be a mix of new and existing shares to comply with the Centre's regulations of floating 10 per cent shares in two years and 25 per cent in the five years


Anand Adhikari
May 27, 2021
While public sector banks, saddled with asset quality issues and merger integration process, continue to lose market share in corporate banking, private sector banks continue to grow their loan book


Joe C Mathew
New Delhi, May 26, 2021
The National Bank for Financing Infrastructure and Development promises to address the capital needs of the cash-starved infrastructure sector, but execution remains key


BusinessToday.In
May 25, 2021
Das impressed upon the banks to quickly and swiftly implement the measures announced by RBI on May 5, 2021, in right earnest.


BusinessToday.In
May 25, 2021
These rules, which will be applicable for Basic Savings Bank Deposits (BSBD) account holders of SBI, will come into effect from July 1, 2021, as per official notification


BusinessToday.In
May 24, 2021
Zeta will use the proceeds from this funding round to accelerate growth in the US, Europe and India, including scaling its operations, team, and platform to meet the demands of its expanding customer base


BusinessToday.In
May 24, 2021
The bank's net interest income jumped 19% over the year-earlier to Rs 27,067 crore as against a projection of Rs 28,853 crore. SBI's other income too increased 21.6% to Rs 16,225 crore


PTI
May 22, 2021
Chief Minister M K Stalin announced the government's decision after holding discussions with a medical panel and a legislature committee


BusinessToday.In
May 22, 2021
The discussion note co-authored by IMF chief economist Gita Gopinath and staff economist Ruchir Agarwal also endorsed centralised procurement by the Centre and backed deferring the second dose as far as possible


Reuters
May 21, 2021
Doing so, IMF officials say, would inject the equivalent of $9 trillion into the global economy by 2025 due to a faster resumption of economic activity, with rich countries potentially benefiting the most


BusinessToday.In
May 21, 2021
SBI share price: SBI shares were trading 1.99% higher at Rs 392.20 on BSE at 12.18 pm on Friday. The stock opened 1.5 per cent higher at Rs 390.45 against the previous close of Rs 384.55


Reuters
May 21, 2021
US Federal Reserve chief Jerome Powell underlined cryptocurrency risks in an unusual video message that also laid out a clearer timetable as the Fed explores the possibility of adopting a digital currency of its own


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