The National Payments Corporation of India (NPCI) has picked up an office space spread over more than 80,000 sq ft of carpet area, spanning two floors, in a commercial project in Mumbaiβs western suburb Goregaon in a five-year lease.As per the agreement, NPCI will pay a monthly rental of Rs 2.15 crore. The lease includes…
READ MOREMumbai: The Reserve Bank of India (RBI) has asked commercial banks to provide information on the impact of the proposed liquidity coverage (LCR) norms following pushback from banks over the move to make the norms more stringent, said people with knowledge of the matter. The draft norms are to be reviewed by governor Sanjay Malhotra,…
READ MOREMumbai: India’s most-valued lender, HDFC Bank, could consider bringing down its stake in HDB Financial Services to below 20% or segregate products between both entities if a draft central bank circular on the overlap of similar businesses is mandated as applicable guidelines, said an analysis by brokerage house Macquarie Capital. While HDFC Bank also has…
READ MOREAs yet another Finance Ministry insider and revenue secretary Sanjay Malhotra takes charge of the Reserve Bank of India (RBI) from Wednesday, market experts say the selection of two career bureaucrats as RBI Governor in a row indicates the government’s comfort with having a bureaucrat rather than a technocrat at the central bank’s helm. “In…
READ MOREETMarkets.com In the Reserve Bank of Indiaβs (RBIβs) Monetary Policy Committee (MPC) meeting on December 6, 2024, the cash reserve ratio (CRR) was reduced from 4.5% to 4%, releasing additional liquidity into the banking system. This move is expected to enhance the lending capacity of banks, supporting credit growth and economic recovery. On the other…
READ MOREThe Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday reduced the Cash Reserve Ratio (CRR) by 50 basis points to 4%, bringing it back to the level before the policy tightening cycle began in April 2022. The announcement was made by Governor Shaktikanta Das in his final speech of this…
READ MOREShares of PSU bank stocks like UCO Bank and Central Bank of India rallied up to 8% on Wednesday as a three-day meeting of the Reserve Bank of India (RBI)’s rate-setting panel began today in which brokerages expect Governor Shaktikanta Das to cut cash reserve ratio (CRR). Global brokerage firm Citi said that if the…
READ MOREIndia’s housing market is expected to see a significant shift in affordability by 2025, driven by a projected cumulative 50-basis-point cut in interest rates over the next few months, which is anticipated to make home ownership more accessible for buyers, showed a JLL India study.Affordability in the housing market has declined year-on-year since 2022 due…
READ MOREShares of One 97 Communications-owned Paytm jumped 5% to an intraday high of Rs 722.50 on the BSE after the National Payments Corporation of India (NPCI) granted the company approval to onboard new UPI users, subject to adherence to all procedural guidelines and circulars. “We would like to inform you that vide letter dated October…
READ MOREMumbai: Shares of gold loan companies lost sheen on Tuesday after the Reserve Bank of India (RBI) called for these companies to take corrective measures for the lapses in loan sanctioning practices in the next three months. Muthoot Finance fell 3.9% and Manappuram Finance declined 1.9% as analysts see the central bank’s action weighing on…
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