|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||66.60 - 71.25|
|52 Week Range||57.45 - 110.15|
|Beta (3Y Monthly)||0.85|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||103.00|
Bank of India Limited (NSE:BANKINDIA) shareholders should be happy to see the share price up 13% in the last month...
MUMBAI/NEW DELHI (Reuters) - The Reserve Bank of India (RBI) is concerned about liquidity issues facing some Indian non-banking finance companies (NBFCs) such as mortgage or auto lenders and wants to ensure the problems do not become a systemic issue, two sources told Reuters on Wednesday. The central bank is hoping to use banks to support NBFCs and it will look at options to strengthen risk management systems at these companies, said the sources, who asked not to be named as they are not authorized to discuss the matter with media. The RBI's board discussed various means to tackle the liquidity problems in the NBFC sector and it has decided to handle it in a "nuanced" manner by improving liquidity and tightening regulatory norms without sending a "panic" signal to the market, said a senior official, directly aware of the discussions.
The Reserve Bank of India (RBI) said on Tuesday its central board had decided to create a separate supervisory and regulatory cadre within the bank after reviewing the current supervisory structure. The central bank was expected to discuss various options for better regulation of non-banking financial companies following large-scale defaults by IL&FS last year, which have caused the on-going liquidity crunch in the banking system. The board reviewed the present structure of supervision in the RBI in the context of growing diversity, complexities and interconnectedness within the financial sector, the RBI said in a statement after a two-day central board meet in Chennai.
Responding to media speculation that the presence of two nominee directors of RBI on the board of Lakshmi Vilas Bank implies RBI's indirect approval of the deal, the central bank said the deal does not have its approval at this stage. "It is also clarified that presence of additional directors nominated by the RBI on the Board of LVB (Lakshmi Vilas Bank) does not imply any approval of the RBI of the merger proposal", the central bank said in a statement on Saturday, adding that the directors have no view on the deal.
(Reuters) - State-run Bank of India Ltd on Friday offered to sell a 25 percent stake in its joint venture company with Union Bank Of India Ltd and Japan's Dai-ichi Life Holdings Inc for up to 11.06 billion ...
The Reserve Bank of India (RBI) cut its policy interest rate by 25 basis points on Thursday, in a widely expected move to boost the economy just a week before voting begins in an election that will decide whether Prime Minister Narendra Modi gets a second term. Following a meeting of its monetary policy committee (MPC), the RBI highlighted the need to boost domestic growth due to global headwinds. "The need is to strengthen domestic growth impulses by spurring private investment which has remained sluggish," the RBI wrote in the policy statement.
The Reserve Bank of India (RBI) said on Thursday it would issue a revised circular on the resolution of stressed assets after the Supreme Court this week struck down its earlier directive that imposed tougher norms on banks dealing with non-performing loans. The Supreme Court had said on Tuesday that the RBI had acted beyond its authority when it asked banks to drag a defaulter to an insolvency process if they are not able to find a resolution to a company's debt within six months. The "RBI will take necessary steps including issuance of a revised circular as may be necessary for expeditious and effective resolution of stressed assets," he said, adding the RBI stands committed to maintaining and enhancing the momentum on the resolution of stressed assets and an adherence to credit discipline.
Economists raised concerns over a sharp slowdown in Indian economy and pitched for a monetary policy boost to support growth at a meeting with the Reserve Bank of India (RBI) chief on Tuesday, according to three participants. RBI Governor Shaktikanta Das met more than a dozen economists to get their views on the economy ahead of the Monetary Policy Committee (MPC) decision due on April 4. Most economists expect the six-member MPC to cut the repo rate by 25 basis points for the second time in a row next month to 6.00 percent, a level last seen in August 2017.
The Reserve Bank of India (RBI) has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT. "These are petty, procedural issues like counterparty confirmation and nothing major or structural," said one banker who is directly aware of the matter but declined to be named because he is not authorised to speak to the media. The Indian banking system was sent reeling early last year by a $2 billion fraud at state lender Punjab National Bank (PNB), resulting from unauthorised credit guarantees to businesses linked to billionaire jeweller Nirav Modi and his uncle Mehul Choksi via SWIFT.
India needs to take steps to boost economic growth as the inflation outlook remains low, the Reserve Bank of India's monetary policy committee (MPC) said in minutes released on Thursday. Most of the six-member MPC were in favour of spurring growth in Asia's third largest economy amid a soft inflation outlook on a sustained fall in food prices, the minutes of the February monetary policy meeting showed.
The Reserve Bank of India (RBI) is expected to cut interest rates again next quarter, according to a Reuters poll of economists, with a slim majority forecasting policy easing to occur before the general election in May. A Reuters snap poll taken immediately after Thursday's policy review - where the RBI unexpectedly reduced interest rates by 25 basis points - showed the central bank will make the same move next quarter. Another easing would be welcome news for Prime Minister Narendra Modi's government, which wants to boost growth and lift lending after delivering a populist interim budget in an effort to woo over 900 million eligible voters.
The monetary policy committee (MPC) cut the repo rate by 25 basis points to 6.25 percent, as predicted by only 21 of 65 analysts polled by Reuters. Four of six members of the MPC voted to cut the rates, while all six members voted for a change in the stance. "MPC has clearly responded to the slack in financial markets in its credit policy.
A spike in bad loan provisions dragged the bank to a net loss https://www.bseindia.com/xml-data/corpfiling/AttachLive/7bff7c3b-4513-40a8-b6aa-872e69d6df82.pdf of 47.38 billion rupees ($666.50 million) in the three months ended Dec. 31. "Going ahead, the main area of focus will be to reduce bad loans and get back to a profit in the Jan-March quarter," CEO Dinabandhu Mohapatra said at a post-earnings press conference, adding the bank expected 26 billion rupees to be recovered from bankruptcy cases in the current quarter. In the September-December quarter, provisions for bad loans at Bank of India more than doubled to 91.79 billion rupees.
The Reserve Bank of India (RBI) will change its stance to 'neutral' next month and cut interest rates in June at the latest, according to a Reuters poll of economists pointing to an extraordinary U-turn in policy. "The policy outlook has been muddied by the resignation of Urjit Patel.
The Reserve Bank of India (RBI), having changed leadership last month following a clash with the government, is likely to transfer an interim dividend of 300-400 billion rupees ($4.32 billion-$5.8 billion) to the government by March, according to three sources with direct knowledge of the matter. The amount would be three or four times the amount paid last year and would help the government meet its fiscal deficit target, despite a shortfall in revenue collections, most notably from a goods and services tax introduced in 2017, and from divestments. Prime Minister Narendra Modi's government has been pushing the RBI for more money ahead of what is expected to be a tight national election due by May.
The Reserve Bank of India (RBI) has appointed former governor Bimal Jalan to lead a review of its economic capital framework, it said in a statement on Wednesday, potentially freeing up trillions of rupees for government coffers. Prime Minister Narendra Modi's government has been insisting on a new policy for reserves held by the RBI and the distribution of dividends. Heated discussions over revamping the economic capital framework was one of the key reasons behind the sudden resignation of the RBI Governor Urijit Patel earlier this month.
The bank now plans to submit the final recommendation for the CEO post to the Reserve Bank of India (RBI) after the next board meeting on Jan. 9, India's fifth largest private-sector lender by assets said in a statement. Yes Bank shares, which rose as much as 3.5 percent earlier in the session, reversed course to close 6.4 percent lower.
Das held key positions both under the ruling Bharatiya Janata Party and the previous Congress-led government before retiring in 2017. On Monday, Patel's resignation came after over a month-long tussle over policy with the government that raised concerns about the central bank's independence.
The Reserve Bank of India's (RBI) Governor Urjit Patel should not have resigned "at a time when most of the controversial issues have been discussed and decided", an RBI board member told Reuters on Monday. Patel cited "personal reasons" for his resignation, but it came after Prime Minister Narendra Modi's government put pressure on the RBI to ease regulatory curbs on some banks, increase liquidity and relax capital norms as it faces a slowing economy ahead of general elections due by May. The RBI and the government still need to address liquidity crunch faced by small businesses, one of RBI's board members, Sachin Chaturvedi, told Reuters.
A crucial Reserve Bank of India (RBI) sub-committee did not discuss easing lending curbs facing 11 state-run banks on Thursday despite intense pressure from the nation's government to take a softer stance towards them, a source close to the discussions said. The BFS was brought into the matter at the last meeting at the direction of the board.
Analysts expect the Reserve Bank of India (RBI) to support an economy that is losing momentum by leaving interest rates unchanged at a policy meeting on Wednesday, when just over a month ago most of them had predicted a hike. Having resisted any temptation to jack up rates in October when the rupee was sliding to a record low against the dollar, the Reserve Bank of India has been vindicated by the currency's subsequent recovery, and by waning inflationary pressures thanks to falling food and oil prices. The rupee is now nearly 6 percent off its low, and is expected to rally further as lower crude prices have also eased worries over India's current account deficit.
India does not need money from the Reserve Bank of India (RBI) in the next six months, the finance minister said in a TV interview telecast on Friday, rejecting opposition charges the government was seeking access to the bank's reserves to fund schemes ahead of the 2019 general election. "I don't need money in the next six months," Finance Minister Arun Jaitley told Times Now news channel. Critics accuse the government of trying to undermine the central bank's authority, but Jaitley said his government respected the institution's independence.
MUMBAI/NEW DELHI (Reuters) - The board of the Reserve Bank of India (RBI) on Monday agreed to ease liquidity for the financial sector and increase credit to small businesses, two sources present at the meeting said. The move comes in response to pressure from Prime Minister Narendra Modi's government which faces a general election by next May and is concerned that low farm prices and difficulties small businesses face in borrowing, may hurt its prospects with voters. Some more contentious issues were kicked down the road to be discussed by newly formed committees, the sources said.