The Reserve Bank of India (RBI) has rejected requests for standstill in asset classification from banks, dashing the hopes of lenders as well as companies seeking to avoid the defaulter tag.
Investors looking for higher returns post the sharp cut of interest rates in small savings products and bank deposits by up to 140 basis points could turn to banking and PSU debt funds.
Wipro SVP and global head of cyber security and risk services (CRS) Raja Ukil has resigned after 18 years with the firm. Ukil’s exit comes barely a year after he took charge as the head of CRS. He did several gigs including as chief information officer.
Some lenders appear to be flouting the Reserve Bank of India's (RBI) directive to banks to offer moratorium to borrowers on repayment of loans for the month of March.
States’ short-term borrowing limits have been increased by as much as 30% as they face pressure on revenues with economic activity coming to a halt and the transfers from the Central government also getting crushed due to lower Goods and Services Tax collection.
The merger of United Bank of India (UBI) and Oriental Bank of Commerce (OBC) with Punjab National Bank has made it the second-largest state-owned bank.The merger of United Bank of India (UBI) and Oriental Bank of Commerce (OBC) with Punjab National Bank has made it the second-largest state-owned bank.States’ short-term borrowing limits have been increased by as much as 30% as they face pressure on revenues with economic activity coming to a halt and the transfers from the Central government also getting crushed due to lower Goods and Services Tax collection.
Tribal Cooperative Marketing Development Federation of India (Trifed) managing director Pravir Krishna said, “The pandemic has struck at a time when it is gathering time for MFP.