Written by Khushboo Narayan, George Mathew, edited by Explained Desk | Mumbai | Updated: March 13, 2021 5:00:15 pm The decision of the Securities and Exchange Board of India (Sebi) to impose restrictions on mutual fund (MF) investments in additional Tier 1 (AT1) bonds has caused a storm in the …
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Long after automated teller machines (ATMs) became interoperable for banking customers, the entire spectrum of banking is becoming independent of membership. Earlier this week, ICICI Bank created a stir by announcing that its banking app, iMobile Pay, would be free for everyone. A customer does not need to be with …
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The former finance minister said it “is part of a deeper game plan to control the banking industry.” New Delhi: Former Finance Minister P Chidambaram has harshly criticized the Reserve Bank’s proposal to allow companies to enter the banking sector and establish banks, calling it a “dangerous agenda” that is …
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“It is very important that financial institutions have adequate capital (to support growth),” he said. Many of them have already raised capital and others are planning, he mentioned, adding that they certainly would in the coming months. Both fiscal and monetary policy were countercyclical and accommodative, both working in close …
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The Indian economy was not in good shape even before the Covid-19 outbreak, which has only made things worse. The report by the Reserve Bank of India (RBI) committee of experts on a resolution framework, headed by former ICICI Bank chief KV Kamath, makes this clear. The report notes that …
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