A step to strengthen market integrity

Bringing select stocks under additional surveillance measures (ASM) by market regulator Securities and Exchange Board of India (SEBI) and stock exchanges adding more stocks under ASM category to further strengthen market integrity amidst price bubbles in an over heated market condition is seen as a good measure by analysts and market participants.

ASM follows Graded Surveillance Measures (GSM) introduced last year by the stock exchanges on Sebi’s directive which had a list of 910 stocks with defined surveillance grade from I to VI.

Rs 500cr credit growth fund likely in July

The government is likely to launch a Rs 500 crore credit enhancement fund next month to facilitate infrastructure investments by insurance and pension funds, a senior finance ministry official said on Monday. The fund was first announced in the financial budget for financial year 2016-17.

New RBI norms for credit discipline among big borrowers

The Reserve Bank of India (RBI) has proposed stipulating a minimum level of ‘loan component’ in fund-based working capital loans for large borrowers. Under the existing cash credit system, bankers enhance the credit limits for companies annually without looking at the ability of borrowers to repay the loan amount. The fresh  move is likely to promote greater credit discipline among large borrowers enjoying working capital facilities.

Optimism on job scenario fades, shows RBI survey

People’s expectations on the availability of jobs, perception on employment prospects and its availability worsened with 44.1 per cent reporting declining trends in 2018 compared to 30.2 per cent in 2014. According to the survey, 65.1 per cent felt that things would improve in 2014, while that number has now dropped to 49.5 per cent. Perhaps most strikingly, 63.9 per cent of respondents said in June 2014 that they expect their income to increase in the coming year. That optimism was clearly hit with only 50.8 per cent retain their views in 2018.

RBI seeks details of payments data storage

The Reserve Bank of India (RBI) has written to payment companies seeking details of their preparedness to comply with its April mandate to store all user data in servers located within India.

RBI survey shows drop in confidence in Modi rule

“Achhe Din Ayenge” — the promise on which the National Democratic Alliance (NDA) government came to power in 2014 is still a distant dream for the common man. This was revealed in the highly-rated ‘Consumer Confidence Survey’ of the Reserve Bank of India.

People are not buying the tall claims of the Narendra Modi government, which has a tough task on its hands in the one year before the elections to turn the apparent disillusionment among the people to hope.

SEBI takedown of rogue manipulators continues

Market regulator Sebi may examine the role of its officials as well as employees in stock exchanges as part of its probe into the leak of names of 37 of the list of 109 mid-cap stocks put under additional surveillance mechanism (ASM). According to sources, Sebi is trying to figure out whether the leak happened at its end or at exchanges, which put the notification on their websites after the trading hours on May 31.

10-year bond yield closes near 8% mark, highest in three years

India's 10-year benchmark bond yield closed near the 8 per cent mark, its highest in three years on Thursday after the Reserve Bank of India (RBI) increased the policy repo rate by 25 basis points and changed liquidity coverage norms. The 10-year bond yield closed at 7.993 per cent, a level last seen on May 7, 2015, from its Wednesday’s close of 7.913 per cent. Bond yields and prices move in opposite directions.

ICICI Bank may file consent plea in Videocon loan case

Under the scanner of investigative agencies over allegations of quid pro quo, ICICI Bank is looking to file a consent plea with the Securities and Exchange Board of India (Sebi) to end the ongoing probe against CEO and managing director Chanda Kochhar (in pic) in the Videocon loan case, according to a news report citing unnamed sources. ICICI Bank refused to comment. A plea agreement means settlement of case without main hearing when the defendant agrees to plead guilty in exchange for a lesser charge or for a more lenient sentence and/or for dismissal of certain related charges.

Growth outlook: 7.4%

The Reserve Bank has retained growth projections, estimating GDP to grow at 7.4 per cent in the current fiscal. The growth figure had been 6.7 per cent in the last fiscal. The central bank has banked on hopes of a further boost to investments and higher consumption.

In its second bi-monthly monetary policy review for 2018-19, RBI said, however, that the sharp rise in petroleum product prices is likely to impact disposable incomes.

The central bank said domestic economic activity has exhibited sustained revival in recent quarters and the output gap has almost closed.