Bank stocks rallied up to 2% on Friday after the Reserve Bank of India (RBI) slashed the cash reserve ratio (CRR) by 50 basis points to 4%. The measure will ease liquidity stress by releasing Rs 1.16 lakh crore in the banking system. Among the PSU bank stocks, UCO Bank led the rally, rising 2.8% … Read more
Mumbai: Traders loaded up shares of banks and property developers on Wednesday in a tepid market in anticipation of a cut in the Cash Reserve Ratio – the percentage of a bank’s total deposits required to maintain in cash with the RBI – in the central bank’s three-day Monetary Policy Committee meeting ending on Friday. … Read more
Bank of Baroda is likely to raise up to Rs 5,000 crore through the issuance of infrastructure bonds in coming days, as the state-owned lender looks to garner long-term funds amidst firm demand for credit. The bank may conduct the debt sale on September 6, with the issuance likely to have a base size of … Read more
Mumbai: India’s central bank digital currency pilots in wholesale and retail segments have largely met with success since last year, but some banks have recently hit a bump as statutes do not permit the money to be used for meeting the Cash Reserve Ratio (CRR) requirement. A person aware of the development told ET that … Read more
Central bank actions usually calm nerves. But the Reserve Bank of India‘s unexpected 40 basis points increase in policy rates has rather rattled the market. An interest rate increase per se wouldn’t have been shocking given the price pressures that have been building up and the actions of other central bankers in the past few … Read more
MUMBAI: The non-food component in the price basket will continue to keep inflation at a high level and result in a “long pause” in interest rates, a foreign bank said on Wednesday. The central bank is likely to pare the pandemic-driven emergency response as well, the report by Singaporean lender DBS said. It can be … Read more