Markets regulator Sebi on Monday directed Credit Rating Agencies (CRAs) to verify the issuer’s fund availability and ascertain the reasons for payment failure in cases where non-payment of debt arises due to factors beyond the issuer’s control. Also, CRAs have to ensure that the required payments are deposited into an escrow account on the due … Read more
In the latest attempt to boost consumer spending, China’s largest state-run banks lowered interest rates on deposits this week. The rate cuts, the second such reductions since last year, reflect a growing concern that the world’s second-largest economy has not rebounded as strongly as expected after lifting its restrictive “zero-COVID” measures. Six commercial banks all … Read more
The Reserve Bank is not planning to issue any separate norms to regulate social media influencers pedalling their personal views on the financial markets since sector watchdog Sebi is already on it. Addressing media after the monetary policy announcement on Thursday wherein the central bank has for the second time in a row left the … Read more
The Cabinet Secretary-headed panel is scheduled to interview shortlisted candidates on June 1 for the post of RBI deputy governor, which falls vacant on June 21 after M K Jain completes his extended tenure. This vacancy for the RBI deputy governor’s post has been reserved for a commercial banker. According to sources, five candidates have … Read more
Not long ago, the US witnessed a banking crisis that shook its financial landscape. Within a blink of an eye, Signature Bank, Silicon Valley Bank, and First Republic Bank crumbled, leaving many investors thinking over the causes of their downfall. But who was the culprit behind these bank failures? Well, it was the dreaded bank … Read more
Bank borrowings from the central bank’s liquidity adjustment facility (LAF) window have climbed sharply, indicating that Mint Road has moderated the supply of money to restrain inflation. Latest data from the Reserve Bank of India (RBI) showed banks borrowed ₹73,297 crore from the central banks through different LAF windows in a drastic change from the … Read more