In a positive move for the Indian industry, Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans, a field which is currently restricted to sale to asset reconstruction companies and ad hoc sale to other lenders including banks, and no formalised mechanism has been developed to deepen it.
Non-banking financial companies, already reeling under a painful liquidity crisis, are up against a fresh challenge in the form of new regulatory norms set by the Reserve Bank of India. The central bank has released draft norms on liquidity risk management for deposit taking and non-deposit taking NBFCs.
After being granted a lifeline from the country’s largest insurer, the erstwhile state-run lender, IDBI Bank is now planning to turn to the Reserve Bank of India (RBI) for some forbearance to bring its house in order.
GST collection for May is expected to be less than Rs 1 lakh crore, a senior official told Moneycontrol on condition of anonymity.
In an increasingly globalized world, foreign trade is an important contributor to economic growth. Unfortunately, India’s merchandise trade has clocked slightly negative growth between 2011- 12 and 2017-18.
Bond dealers and economists are certain that the Reserve Bank of India (RBI) will lower the policy rate. However, there is disagreement on the timing.