Gold Silver Reports — Bank Borrowings Fall off the Map in June Quarter — The Reserve Bank of India’s (RBI) annual report contains another nugget of information that shows up the dismal state of the economy in the June quarter. The total flow of funds to the commercial sector declined by Rs27,300 crore during the first quarter of the current fiscal year (FY18), which shows that companies paid off past debt rather than borrow.
RBI
RBI Sends Second List of 26 Defaulters to Banks
Gold Silver Reports — The Reserve Bank of India (RBI) has sent commercial banks a second list of at least 26 defaulters with which it wants creditors to start the process of debt resolution before initiating bankruptcy proceedings, three bankers aware of the development said.
RBI Clears Proposal to Introduce Rs200 Notes
Gold Silver Reports — The board of the Reserve Bank of India (RBI) has cleared a proposal to introduce banknotes of Rs200 denomination, two people aware of the development said.
RBI Policy Interest Rate Unchanged – Raghuram Rajan
Gold Silver Reports — RBI kept its policy interest rate unchanged at a five-year low of 6.50 percent on Tuesday, while cautiously signalling it could cut later this year if monsoon rains, and other factors, dampen upward pressure on food prices.
RBI Is Widely Expected to Keep Its Policy Interest Rate Unchanged
Gold Silver Reports — RBI Governor Raghuram Rajan, a much admired former International Monetary Fund chief economist, could be chairing his penultimate policy review, with investors waiting to hear whether the government plans to extend his 3-year term beyond September.
India Economy Will Support Rupee Bonds
Gold Silver Reports — Pacific Investment Management Co. says the growth trajectory and financial health of India’s economy will support rupee bonds regardless of who helms the central bank. That may soon be someone other than Governor Raghuram Rajan after a newspaper report said he’s not seeking a 2nd term.
Rajan Cuts Rates to 5-Year Low; India
Gold Silver Reports → India’s central bank lowered its key interest rate for the first time in six months and said it would look for more room to ease as it watches monsoon rains.
RBI to Be Driving State Banks to Raise Provisioning
Gold Silver Reports → The standalone credit profiles of many Indian public sector banks should come under pressure unless there is meaningful action to restore capital adequacy, says Fitch Ratings.
Global Lenders in Good Shape; RBI’s Rajan
Gold Silver Reports → India’s central bank Governor Raghuram Rajan on Thursday allayed fears about the health of the global banking system, saying lenders are in a good position and well-capitalized to weather the current turmoil in the world economy.