RBI allays concerns on note quality

The Reserve Bank of India (RBI) on Friday said that it maintained the quality of bank notes “well within the various tolerance parameters for dimension, placement of design, print features, etc,” and that its currency printing presses were state-of-the-art and well-documented. The RBI’s clarification came after the opposition Congress alleged that the RBI was printing… Continue reading RBI allays concerns on note quality

Lenders take stock of progress in NCLT cases

Lenders will work out procedures to follow timelines and coordination in cases taken for resolution at the National Company Law Tribunal (NCLT). Senior public sector bank executives called Monday’s meeting a routine exercise where top bankers reviewed the progress made in work (for cases filed at NCLT). Banks will put in place necessary mechanism to… Continue reading Lenders take stock of progress in NCLT cases

Lenders meet today to review insolvency cases

Bank representatives are to meet here on Monday for a review of the work done on the resolution process under the Insolvency and Bankruptcy Code (IBC). It would be the first such exercise since the Reserve Bank of India (RBI), on June 13, directed action on 12 big-size bad loan cases. The aim is to… Continue reading Lenders meet today to review insolvency cases

Post RBI rate cut, rupee hits over 2-yr high; foreign lenders sell dollars

The Indian rupee strengthened to its highest in more than two years amid heavy selling of dollars by foreign banks, with the central bank decision to cut interest rates having only a limited impact, according to traders. The dollar had briefly touched a 15-month low against a basket of major currencies on Tuesday, though it… Continue reading Post RBI rate cut, rupee hits over 2-yr high; foreign lenders sell dollars

Monetary policy review: All eyes on RBI today

The six-member monetary policy committee might cut rates in the Reserve Bank of India’s (RBI’s) monetary policy review to be announced on Wednesday. The members, including RBI Governor Urjit Patel and Deputy Governor Viral Acharya, are deliberating on a host of issues before taking a call on rates. The following set of data, which shows… Continue reading Monetary policy review: All eyes on RBI today

Govt loosens norms for auditor rotation at unlisted companies

The government has relaxed conditions for unlisted companies that do not have loans, from banks, financial institutions or deposits from the public, of more than Rs50 crore on rotation of auditors. Currently, these companies can’t appoint individual auditors for five consecutive years and auditor firms for two straight terms of five years, if their paid… Continue reading Govt loosens norms for auditor rotation at unlisted companies