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.
Esta historia es de la edición September 09, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición September 09, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Supreme Industries stock slips on weak Q2 showing
Brokerages cut earnings estimates after firm disappointed the Street
Dabur stock fall may provide entry to long-term investors
Dabur's performance in the July-September quarter of the current financial year (Q2FY25) was weak but in line with consensus. Consolidated revenue declined 5 per cent year-on-year (Y-o-Y) due to a temporary adjustment in General Trade (GT) inventory.
Capital markets' boom drives NSE Q2 PAT up 57% at ₹3.14K crore
The National Stock Exchange (NSE) reported a 57 per cent year-on-year (Y-o-Y) jump in consolidated net profit to ₹3,137 crore during the quarter ended September 2024 (Q2 FY25) amid a boom in the capital markets.
Sebi directs Embassy Reit to suspend CEO Aravind Maiya
The Securities and Exchange Board of India (Sebi) on Monday directed Embassy Office Parks Management Services, manager to the Embassy Real Estate Investment Trust (Reit), to suspend its chief executive officer Aravind Maiya for lapses in the \"fit and proper\" criteria.
Quant MF expects market correction to pave the way for risk-on phase
The recent downturn in the equity market may see a reversal once the US elections are over, according to Quant Mutual Fund, which emphasizes that the last month's correction should be seen as an opportunity to build more resilient and rewarding portfolios.
Mid, smallcap bounceback may be a distant dream
Analysts believe markets lack positive triggers for an immediate turnaround amid looming US polls
Sebi allows MFs to invest in overseas schemes with India exposure
The Securities and Exchange Board of India (Sebi) has allowed mutual funds (MFs) to invest in overseas funds and unit trusts (UTs) that have up to 25 per cent exposure to Indian equities.
Worst not over yet? Mkt selloff may continue amid headwinds
Technical charts suggest Sensex can slide to 72,000 levels in the worst-case scenario
New York Times beats estimates as digital subscriber count grows
New York Times Co reported third-quarter earnings that beat analysts' expectations, as the company saw an increase in its subscriber count in the months leading up to the 2024 Presidential Election.
Pak blames 'winds from India' as Lahore AQI hits record high
Ministers in Pakistan's Punjab province on Monday blamed winds from India for worsening the smog, urging the Indian authorities to take the matter seriously, after the air quality index (AQI) in Lahore hit a record high over the weekend.
