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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 10:23 PM - Jan 11, 2019 ( ) Views: 122

11 PSBs will have to wait for about a
month before knowing which of them
will have lending curbs eased after a RBI
panel reviews their December quarter
results, an official with direct knowledge
of the matter told. The Central
Government has been pressuring the
central bank to ease the curbs on at least
some of the banks in an aempt to boost
lending and the economy ahead of a
general election due to be held by May. -Business Line


NBFC have urged the RBI to enable the
flow of Mudra funds to small and
medium NBFCs that are facing tight
liquidity. NBFC honchos told RBI
Governor Shakkanta Das during a
meeng convened by the RBI. -Business Line


The RBI, on Thursday, nofied extension
of the transion period for implemenng
the last tranche of 0.625% of
risk-weighted assets under the Capital
Conservation Buffer by one year to
March 31, 2020, following agreement on
this in its Central Board meeting on
November 19. This move will give a
breather to banks, which have been
weighed down due to huge provisioning
for bad loans in the last 2 years. -Business Line


Joining the debate on farm loan
waivers, Asian Development Bank
Country Director Kenichi Yokoyama
today said such write-offs were against
economic principles and cannot
effecvely address the agrarian distress. Yokoyama also advocated for direct
transfer of funds to targeted
beneficiaries as it would cut down
leakages.On farm loan waiver, he said
most of the people are scepctal about it
as an economic principle and has moral
hazards. -Economic Times


Karnataka Bank posted a net profit of
₹140.41 crore for the third quarter of
2018-19 as against ₹87.38 crore for the
corresponding period of previous year,
registering a growth of 60.69%. -Business Line


The NCLAT today suggested that all
further proceedings for transfer of assets
of crisis-hit IL&FS should take place under
the supervision of a retired Supreme
Court judge. - Economic Times

Asian Development Bank said it will
scale up its India funding to USD 4.5
billion (about Rs 31,500 crore) in 2019. The agency also projected Indian
economy to grow at 7.3% in the current
fiscal, and will improve further to 7.6%
next fiscal as investments pick up and
GST stabilisation adds to revenues. -Economic Times


Ashok Chawla has resigned as the
chairman of the NSE with immediate
effect after the Centre Govt granted
sancon to prosecute 5 people including
Chawla accused in the Aircel-Maxis case. -Moneycontrol.com


Infosys today said its net profit declined
by nearly 30% to Rs 3,610 crore during
the Dec 2018 quarter, even as it
announced a share buyback plan of up to
Rs 8,260 crore. The Co had registered a
net profit of Rs 5,129 crore in the Oct-Dec
2017 quarter, Infosys said in a BSE filing.
-Business Line


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