Bank rates refinance

Supporting businesses and stabilizing employment will, however, be the top priority for financial institutions and any increase in credit should match the market demand and inflows into the real economy, said a meeting jointly held by the People's Bank of China, the central bank, and the China Banking and Insurance Regulatory Commission. … [Read more...] about Banks to back employment, work recovery

NEW DELHI: Banker and former president of New Development Bank KV Kamath on Tuesday pitched for a low interest regime, saying it is critical for survival of banks at this juncture. In view of the current economic slowdown induced by the coronavirus outbreak and subsequent lockdowns, Kamath's advice for lenders is considerable as banks are staring at a surge in non-performing assets (NPAs). "I think the banking sector was having a problem, but I think the banking sector with all the efforts of the government, the capital that was injected and so on was coming out of the problems. It needs a little more hand-holding when it was coming out of the challenges," he said in an interview to a news channel. The career banker said that the pick-up in growth is important for improving the health of the banking sector. "...with the steps that have been taken, the growth will happen whether it is in the corporate India, whether it is in rural India or whether it is in retail India, I think we … [Read more...] about Low interest rate regime critical for survival of banks: KV Kamath

Mirae Asset Investment Managers India announced the launch of Mirae Asset Banking and PSU Debt Fund, an open-ended debt scheme that will predominantly invest in debt instruments of Banks, Public Sector Undertakings, Public Financial Institutions, and Municipal Bonds. The New Fund Offer opens for subscription on July 8 and will close on July 20. The Scheme will re-open for continuous Sale and Repurchase from July 27, 2020. The fund will be benchmarked with NIFTY Banking and PSU Debt Index. It will be managed by Mahendra Jajoo, Chief Investment Officer, Fixed Income. Key features of the fund are: It will predominantly invest in high credit quality papers (mainly AAA-rated instruments) It will dynamically manage the portfolio duration to take advantage of interest rate outlook. We will endeavor to maintain a duration of 2-5 years. It will endeavour to ensure high portfolio liquidity by investing in Banking & PSU papers (>80%) along with some allocation to Government … [Read more...] about Mirae Asset Banking & PSU Debt Fund NFO opens for subscription

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“Sebi understands that there are bulk of bank loans and issuers of debentures who have stopped cooperating with rating agencies which hinders their ability to give a fair rating. But allowing for all these ratings to be withdrawn is not a solution. It will leave investors with lesser information,” said the first of the two people quoted above. … [Read more...] about Sebi asks agencies to rate all firms