Franklin Templeton crisis: Wary banks review credit lines to funds

The lenders — some of whom are custodians to MFs — have been in touch with fund officials to estimate the expected mismatch between inflows and outflows on Monday.

from Banking/Finance-Industry-Economic Times https://ift.tt/3aGSIcS
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Franklin Templeton suspends six more schemes

Since these FoFs had investments in two of the six funds which were closed on Friday, it was difficult for these FoFs to generate any income in the current situation and hence have been suspended. With the suspension of these FoFs, the total asset under suspension for twelve schemes together is now at nearly Rs 27,000 crore.

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ICICI Prudential Mutual Fund Bharat-22 ETF acquires 1,71cr NALCO shares; stock plunge 2%

On Monday, NALCO shares will be in focus post bulk deal.

from India Infoline News Service https://ift.tt/2y51kgb

Asian markets gain as all eyes on Bank of Japan meet

In Japan, the Nikkei 225 rose 1.8%, the Topix index also advanced 0.85%, while the Shanghai Composite was fractionally lower.

from India Infoline News Service https://ift.tt/2Sac2sy

Bajaj Finserv employees pledge Rs10.15cr to PM-CARES Fund to combat Covid-19

The Bajaj Group had earlier pledged Rs100cr in the fight against Covid-19, of which close to 40cr is already operational through various projects in multiple geographies.

from India Infoline News Service https://ift.tt/35fLICM

Money Market Operations as on April 24, 2020

(Amount in ₹ crore, Rate in Per cent) MONEY MARKETS@         Volume (One Leg) Weighted Average Rate Range A. Overnight Segment (I+II+III+IV) 294,729.09 2.38 0.01-5.00      I. Call Money 10,643.69 4.04 2.30-5.00      II. Triparty Repo 212,506.00 2.12 0.60-3.77      III. Market Repo 71,579.40 2.91 0.01-3.75      IV. Repo in Corporate Bond 0.00   - B. Term Segment            I. Notice Money** 255.65 3.76 2.85-4.50      II. Term Money@@ 220.00 - 4.25-4.85      III. Triparty Repo 500.00 4.25 4.25-4.25      IV. Market Repo 0.00 - -      V. Repo in Corporate Bond 0.00 - -

RBI OPERATIONS@   Auction Date Tenor (Days) Maturity Date Amount Current Rate / Cut off Rate C. Liquidity Adjustment Facility (LAF) & Marginal Standing Facility (MSF) I. Today's Operations 1. Fixed Rate                (i) Reverse Repo Fri, 24/04/2020 3 Mon, 27/04/2020 720,716.00 3.75 2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo - - - - - 3. MSF Fri, 24/04/2020 3 Mon, 27/04/2020 45.00 4.65 4. Long-Term Repo Operations -   -   - 5. Targeted Long Term Repo Operations - - - - - 6. Targeted Long Term Repo Operations 2.0# - - - - - 7. Net liquidity injected from today's operations [injection (+)/absorption (-)]*       -720,671.00   II. Outstanding Operations 1. Fixed Rate                (i) Reverse Repo           2. Variable Rate&             (I) Main Operation                (a) Reverse Repo             (II) Fine Tuning Operations                (a) Repo                (b) Reverse Repo - - - - - 3. MSF           4. Long-Term Repo Operations Mon, 24/02/2020 365 Tue, 23/02/2021 25,021.00 5.15   Mon, 17/02/2020 1095 Thu, 16/02/2023 25,035.00 5.15   Mon, 02/03/2020 1094 Wed, 01/03/2023 25,028.00 5.15   Mon, 09/03/2020 1093 Tue, 07/03/2023 25,021.00 5.15   Wed, 18/03/2020 1094 Fri, 17/03/2023 25,012.00 5.15 5. Targeted Long Term Repo Operations Fri, 27/03/2020 1092 Fri, 24/03/2023 25,009.00 4.40   Fri, 03/04/2020 1095 Mon, 03/04/2023 25,016.00 4.40   Thu, 09/04/2020 1093 Fri, 07/04/2023 25,016.00 4.40   Fri, 17/04/2020 1091 Thu, 13/04/2023 25,009.00 4.40 6. Targeted Long Term Repo Operations 2.0# Thu, 23/04/2020 1093 Fri, 21/04/2023 12,850.00 4.40 D. Standing Liquidity Facility (SLF) Availed from RBI$       4,161.93   E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     242,178.93   F. Net liquidity injected (outstanding including today's operations) [injection (+)/absorption (-)]*     -478,492.07   RESERVE POSITION@ G. Cash Reserves Position of Scheduled Commercial Banks      (i) Cash balances with RBI as on 24/04/2020 423,731.19        (ii) Average daily cash reserve requirement for the fortnight ending 24/04/2020 416,366.00   H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ 24/04/2020 0.00   I. Net durable liquidity [surplus (+)/deficit (-)] as on 10/04/2020 368,801.00   @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL). - Not Applicable / No Transaction ** Relates to uncollateralized transactions of 2 to 14 days tenor. @@ Relates to uncollateralized transactions of 15 days to one year tenor $ Includes refinance facilities extended by RBI & As per the Press Release No. 2019-2020/1900 dated February 06, 2020 ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015 #  As per the Press Release No. 2019-2020/2237 dated April 17, 2020 * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo Ajit Prasad Director    Press Release : 2019-2020/2275

from PRESS RELEASES FROM RBI https://ift.tt/2Sczd5o
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Most SMEs have run out of cash: Survey

About 24% of respondents said they have cash reserves to sustain their businesses for the next one to three months, while 23% said they can sustain themselves for between three to six months.

from SME Sector-Small Biz-Economic Times https://ift.tt/358tLFV
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Government looks at reform measures in agriculture, manufacturing sectors

The Centre is examining a “significant number” of reforms along with staggered stimulus packages aimed at various stressed sectors of the economy as part of its strategy to combat the bruising impact of the Covid-19 pandemic. Sources said the government has started the process of identifying reforms which can be pushed through to make the economy more attractive and productive and help it overcome the impact of the pandemic in the “shortest possible time.”

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CBI arrests Wadhawan brothers from quarantine at farmhouse

A CBI team on Sunday reached Mahabaleswar and arrested “absconding” DHFL promoter Kapil Wadhawan and his brother Dheeraj Wadhawan alias Baba Dewan in a fraud case involving Yes Bank founder Rana Kapoor. The move came after the special CBI court vacated the stay on their arrest on Saturday.

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