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16 January, 2019 8:00 AM RBI may take dovish stance in February policy with softer inflation

With softer retail and wholesale price-based inflation, Reserve Bank of India is likely to change its policy stance from 'neutral' from 'calibrated tightening' in the February policy, says a report. The inflation based on the Consumer Price Index (CPI) eased to an 18-month low of 2.19 percent in December compared to 2.33 percent in November and 5.21 percent 455

15 January, 2019 6:03 AM Rupee breaches 71 per dollar on ''chunky outflows''

The rupee is at its lowest since December 18, 2018. Mumbai: Indian rupee weakened sharply on Tuesday on "chunky outflows" with no intervention seen by the Reserve Bank of India, traders said. The rupee breached the crucial 71 to the dollar mark in early trade, its lowest since Dec. 18, 2018, and marginally cut back to trade at 70.99 to the dollar, as of 0422 GMT. "There 134

15 January, 2019 4:20 AM Rupee weakens to 71/$ for first time since Dec

Today, USD-INR pair is expected to quote in the range of 70.40 and 71.20, says Motilal Oswal. The Indian rupee erased all its morning gains and weakened to 71/$ for first time since December 2018. Rupee came under pressure against the US dollar ahead of the important inflation number that was released later in the evening. Data showed inflation in December 90

10 January, 2019 5:32 PM Cabinet nod to India-Japan $75-bn swap arrangement to curb currency volatility

The Union Cabinet Thursday approved a proposal for a $75-billion bilateral swap arrangement between India and Japan, a move aimed at enhancing the RBI's ability to manage exchange rate volatility. In a release, the government said the Cabinet chaired by Prime Minister Narendra Modi has approved the proposal for entering into an agreement for the bilateral 59

10 January, 2019 3:56 PM RBI defers capital buffer norms by a year; leaves Rs 37,000 cr in hands of banks

The Reserve Bank deferred the implementation of the last tranche of Capital Conservation Buffer (CCB) by a year, a move that would leave about estimated Rs 37,000 crore capital in the hands of banks. This would help banks increase lending by over Rs 3.5 lakh crore by leveraging ten times of the capital. "It has been decided to defer the implementation 69

10 January, 2019 5:46 AM Yes Bank shortlisted CEO names without consulting Rana Kapoor and Madhu Kapur: Report

In 2015, the Bombay High Court ruled that the bank has to follow the Articles of Association and consult both promoters before the appointment of a whole-time director After a long ordeal, the Yes Bank board has independently shortlisted two potential persons for the post of CEO and Managing Director without consulting rival promoters Madhu Kapur and Rana Kapoor 110

9 January, 2019 11:29 AM Yes Bank Finalises Candidates To Replace Rana Kapoor As CEO

The private sector bank will now seek approval from the Reserve Bank of India (RBI) for the CEO appointment, it said in a statement. Yes Bank said on Wednesday it has finalised the potential candidates for the position of chief executive officer to replace the incumbent Rana Kapoor, but did not disclose names. The private sector bank will now seek approval 103

9 January, 2019 3:18 AM IL&FS Crisis: Lenders Asked To Classify Loans To Firm As Non-Performing, Says Report

In October, the government took control of IL&FS, after a string of defaults on debt obligations by the company spooked domestic markets. The Reserve Bank of India (RBI) has asked lenders of Infrastructure Leasing and Financial Services (IL&FS) to classify loans extended to the bankrupt shadow banking firm as non-performing, two sources with direct knowledge 132

8 January, 2019 5:29 PM Response Sought From Centre On Digital Transactions For Visually Impaired

The petition, filed through advocate Ila Haldia, said the plea was filed on behalf of over 52 lakh visually impaired people in India. The Delhi High Court on Tuesday sought response of the Centre and the RBI on a plea seeking to lay down standards to make physical currency and digital means of financial transactions accessible to visually impaired people 94

7 January, 2019 7:58 AM Elara expects banks' profitability to improve in Q3FY19

Elara Capital does not expect any new large corporate loan account to slip barring re-classification of IL&FS Brokerage houses have been betting on select banks, especially after the beginning of improvement in their asset quality and hope of further earnings growth. Elara is one of the brokerage houses that also turned positive on banks and expects 97