Banks oppose draft LCR circular, say may affect loan growth
Business Standard|September 09, 2024
Claim it will impact retail deposits as 90% are digitally linked
MANOJIT SAHA & AATHIRA VARIER
Banks oppose draft LCR circular, say may affect loan growth

Several banks have written to the Reserve Bank of India (RBI) opposing a draft circular on liquidity coverage ratio (LCR), which proposed an additional run-off factor of 5 per cent for retail deposits enabled with internet and mobile banking (IMB) facilities. This opposition was on the ground that it will impact loan growth since banks are facing challenges in deposit mobilisation.

In July, the banking regulator came out with draft guidelines that mandated banks to assign an additional 5 per cent run-off factor for such retail deposits.

IMB is not limited to internet banking, mobile banking and Unified Payments Interface (UPI).

It enables a customer to digitally transfer funds from their accounts.

If the draft norms are implemented, stable retail deposits enabled with IMB will have 10 per cent runoff factor and less stable deposits enabled with IMB are set to have 15 per cent run-off factor.

هذه القصة مأخوذة من طبعة September 09, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة September 09, 2024 من Business Standard.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS STANDARD مشاهدة الكل
Volumes, margins lead to earnings upgrade for Page Industries
Business Standard

Volumes, margins lead to earnings upgrade for Page Industries

Page Industries reported sales growth of 11 percent in Q2FY25 and volume growth of 7 percent year-on-year (Y-o-Y).

time-read
2 mins  |
November 09, 2024
With benchmarks becoming harder to beat, avoid very high-cost funds
Business Standard

With benchmarks becoming harder to beat, avoid very high-cost funds

The Securities and Exchange Board of India (Sebi) has, through a circular dated November 5, mandated that asset management companies must disclose expense ratios for direct and regular plans separately in their half-yearly statements.

time-read
2 mins  |
November 09, 2024
Sensex, Nifty fall for 2nd day on FPI selling
Business Standard

Sensex, Nifty fall for 2nd day on FPI selling

Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank, and State Bank of India.

time-read
1 min  |
November 09, 2024
Business Standard

NSE mulls launching new products to bolster commodities market

The National Stock Exchange (NSE) is seeking to expand its commodities segment by launching new products after examining the performance of energy, base metals, and bullion, an official of the domestic equity benchmark said on Friday.

time-read
1 min  |
November 09, 2024
Zinka Logistics sets price band for ₹1,115 cr IPO
Business Standard

Zinka Logistics sets price band for ₹1,115 cr IPO

Zinka Logistics Solutions Ltd, a digital platform for truck operators, on Friday said it has fixed a price band of ₹259-273 per share for its ₹1,115 crore initial share sale.

time-read
1 min  |
November 09, 2024
Swiggy IPO: QIBs do final-day heavylifting
Business Standard

Swiggy IPO: QIBs do final-day heavylifting

Issue subscribed 3.6x as institutional investors swoop in on Day 3 to corner 90% bids

time-read
2 mins  |
November 09, 2024
Business Standard

Adani Power cuts B'desh supply by more than 60%

Adani Power on Friday further reduced electricity supply to Bangladesh as the company seeks to recover more than $800 million in dues, according to data from Bangladesh's grid operator and two sources.

time-read
1 min  |
November 09, 2024
Beyond the syntax of national culture
Business Standard

Beyond the syntax of national culture

This book is not just a masterly exploration of India's linguistic civilisation. More importantly, it serves as a timely warning against recent attempts at conducting the epistemic study of Indian languages through a narrow prism of singularity.

time-read
4 mins  |
November 09, 2024
FORENSIC PROBE ALL SET TO BOOST CONVICTION RATE
Business Standard

FORENSIC PROBE ALL SET TO BOOST CONVICTION RATE

With Bharatiya Nyaya Sanhita making such investigation mandatory in serious crime cases that attract seven years' imprisonment or above, more and more criminals are likely to be brought to justice in the next five years

time-read
4 mins  |
November 09, 2024
'Ek hai toh safe hai': Modi in first rally for Maha polls
Business Standard

'Ek hai toh safe hai': Modi in first rally for Maha polls

Prime Minister Narendra Modi on Friday flagged the Congress' \"caste politics\" and cautioned the nation against it, while also accusing the grand old party of \"playing a dangerous game of pitting one caste against another\" for political gains.

time-read
2 mins  |
November 09, 2024