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14 June, 2018 4:47 PM Twenty ED rank officers to vie for CEO positions at 12 state-run banks

About 40 GM candidates short-listed for 19 executive director level vacancies With a dozen vacancies arising in the top posts of public sector banks (PSBs) in 2018-19, the Bank Board Bureau (BBB) has finally started the process of selecting the candidates. Twenty executive director rank officers from PSBs have been called for an interview scheduled for this month 30

12 June, 2018 4:58 PM CPI inflation quickens to 4-month high

Measure of retail price gains at 4.87% for May, lifted by accelerating food and fuel costs as oil climbs Retail inflation accelerated to a four-month high in May as quickening food and fuel costs lifted the Consumer Price Index (CPI) based reading to 4.87%, official data released on Tuesday showed. The acceleration in price gains in May, a second straight 32

12 June, 2018 4:57 PM Low recoveries of NPAs: RBI data

Figures provided by RBI Governor Urjit Patel before parliamentary Standing Committee on Finance show write-offs mainly account for a ₹1,50,960-crore cut. While public sector banks have claimed a ₹1,50,960 crore reduction in their non-performing asset (NPA) levels over 2017-18, about 55% of this was due to write-offs and only 27% was actual recoveries 51

11 June, 2018 5:09 PM Reserve Bank aims to tighten working capital loan norms

Proposes at least 40% loan component in credit of ₹150 cr. and above from Oct. 1 The Reserve Bank of India (RBI) has proposed a minimum 40% loan component for working capital funding of ₹150 crore and above to bring in greater credit discipline and improve monetary transmission. According to draft guidelines, the RBI has proposed that the loan component 36

11 June, 2018 4:59 PM RBI turns net seller of U.S. dollar in Apr

After remaining net buyer of the U.S. dollar for the past many months, the Reserve Bank of India (RBI) became a net seller in April, after it sold $2.483 billion of the U.S. currency in the spot market, according to its data. During the reporting month, the apex bank bought $5.536 billion of dollars from the spot market, while it sold $8.019 billion 31

7 June, 2018 4:44 PM HDFC Bank increases lending rate by 10 bps

HDFC Bank , the second largest private sector lender of the country, increased its marginal cost of fund-based lending rate (MCLR) by 10 basis points (bps) across various loan tenures. As a result, its one-year MCLR is now at 8.4%. The new rates came into effect from Thursday, according to the bank’s website. The move comes after all major banks, including 36

7 June, 2018 4:26 PM RBI reduces interest rate on unclaimed deposits by 50 bps to 3.5%

In June 2014, RBI had specified that the rate of interest payable by banks to the depositors/claimants on the unclaimed interest bearing deposit amount transferred to the DEA Fund will be 4 percent simple interest per annum. Interest rate on unclaimed deposit amount transferred to Depositor Education and Awareness (DEA) fund has been reduced by 50 basis 43

6 June, 2018 4:52 PM Nod for IDFC Bank, Capital First merger

IDFC Bank on Wednesday said it had received the RBI’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. Earlier in January, the company said its board of directors had approved the amalgamation of the three entities with IDFC Bank Ltd. The amalgamation is subject to the receipt of approval 35

6 June, 2018 11:17 AM Technical View: Nifty forms robust bull candle; next target at 10,826 levels

The Nifty50 which started on a bullish note build on to the momentum and rallied past 10,650 levels after the Reserve Bank of India’s monetary policy committee (MPC) raised repo rates by 25 bps but maintained its stance at neutral. The Nifty50 index made a strong bullish candle on the daily charts and has now moved above crucial short-term moving averages 37

6 June, 2018 11:07 AM Urban cooperative banks now have a chance to become small finance banks

Based on recommendation made by the High Powered Committee in August 2015, the central bank has decided to allow voluntary transition of Urban Cooperative Banks (UCBs) into Small Finance Banks (SFBs). Based on recommendation made by the High Powered Committee, the Reserve Bank of India (RBI) on Wednesday decided to allow voluntary transition of Urban 44