Gold Silver Reports (GSR) – PSU Banks Rally After RBI Allows Banks To Spread Bond-Trading Losses — Shares of the government-owned banks were trading higher after the Reserve Bank of India allowed banks to spread their bond-trading losses incurred in the December 2017 and March 2018 quarters equally over as long as four quarters.
RBI
Axis Bank Falls After RBI Asks Board To Reconsider Fourth Three-Year Term
Gold Silver Reports (GSR) – Axis Bank Falls After RBI Asks Board To Reconsider Fourth Three-Year Term — Shares of the country’s third largest private sector lender fell as much as 3.6 percent to Rs 492.20 after the Reserve Bank of India asked its board to reconsider fourth three-year term it handed to CEO Shikha Sharma, The Economic Times reported citing people aware of the development.
RBI says Examining Enforcement Action; PNB Fraud Case
Gold Silver Reports (GSR) – RBI says Examining Enforcement Action; PNB Fraud Case — Replying to an RTI query, the central bank also said it has been issuing necessary instructions to banks from time to time on a variety of issues of prudential supervisory concern, including the management of operational risks inherent in the functioning of banks.
India’s Forex Reserves Hit a New High
Gold Silver Reports (GSR) – India’s Forex Reserves Hit a New High — RBI data showed the reserves rose $1.2 billion in the week to March 23. The improved overseas dollar inflows in March reversing February’s trend of outflows has helped accumulation of reserves, forex dealers said.
Future Retail Gains After RBI Increases FII Limit
Gold Siilver Reports (GSR) – Future Retail Gains After RBI Increases FII Limit — Shares of the hypermarket operator rose as much as 2.9 percent to Rs 544.95
RBI Discontinues Letters Of Undertaking For Trade Credit For Imports
Gold Silver Reports – RBI Discontinues Letters Of Undertaking For Trade Credit For Imports – The Reserve Bank of India today decided to discontinue issuance of letters of undertaking (LoU) and letters of comfort (LoC) for trade credit for imports into India.
RBI Initiates Special Audit Of State-Run Lenders With Focus On Trade Finance
Gold Silver Reports (GSR) – RBI Initiates Special Audit Of State-Run Lenders With Focus On Trade Finance – Rattled by spate of banking frauds, RBI has initiated specialaudit of state-owned lenders withfocus on trade financingactivities, especially relating to issuance of letters of undertakings (LoUs) by them, banking sources said.