Reserve Bank of India (RBI) Governor Raghuram Rajan welcomed the appointment of Urjit Patel as his successor, saying it would ensure continuity in meeting the country`s inflation objectives.
Keen on a wider debate on changing the financial year, government has sought public comments on the desirability of replacing the existing period in a bid to improve budgetary process and cash management.
RBI's move to allow banks to issue masala bonds will remove obstacles for lenders in accessing additional tier I (AT1) and tier II bond capital and also widen the investors pool, says Fitch.
Market participants and analysts have hailed the Reserve Bank's measures announced today to deepen the corporate bonds market, saying the move will go a long way in developing the nascent debt space.
Reserve Bank on Thursday announced a slew of changes in fixed income and currency markets such as allowing lenders to issue 'masala bonds' and to accept corporate bonds under the liquidity adjustment facility (LAF).
Rupee regained its strength after a brief dip and ended higher by 6 paise at 67.05 against the greenback Thursday on bouts of dollar selling by banks and exporters.
RBI on Thursday retained 'too big to fail' tag for the state-owned SBI and private lender ICICI Bank for the second year in a row, calling them systemically important banks for 2016 requiring higher level of supervision.
The 30-share index ended lower by 224.03 points at 27,835.91, posting its biggest fall in two weeks.
Contribution of small towns -- known as beyond the top 15 cities (B15) -- to mutual funds' asset base in India has surged 19 percent to Rs 2.02 lakh crore in last fiscal.
Continuing its upmove for the third straight session, the benchmark BSE Sensex rose nearly 78 points to 28,137.93 in early trade today with participants indulging in short-covering in view of August derivatives series expiry.
Markets regulator Sebi on Wednesday confirmed its interim order banning 11 entities in a case related to tax evasion and money laundering through stock exchange platform.
In another major step in fight against tax evasion, the Cabinet on Wednesday gave its approval to the revised DTAA between India and Cyprus that provides for source-based taxation of capital gains on transfer of shares instead of one based on residence.
Zeta, an emerging fin-tech start-up that is bringing disruptions in the Employee Tax Benefits and Rewards space, has introduced Near Field Communication (NFC) based payment feature that enables its users to pay with even more ease at any cash counter.
In yet another volatile session, the BSE Sensex on Wednesday settled nearly 70 points higher, breaching the 28,000-level on mild buying in pharma, IT and PSU counters, but broader market sentiment remained edgy awaiting cues on US interest rate hike this year.
Also, the NSE Nifty climbed 28.45 points, or 0.32 percent, to 8,661.05.
RBL Bank's initial public offer, the first by a private bank in a decade, was oversubscribed a staggering 69.58 times, with the number of applications crossing 1 million on the last day of the IPO Tuesday.
Setting an ambitious target of having five million customers by 2020 and to become the No 3 player in the extremely competitive industry, mid-sized lender Yes Bank Tuesday made a foray into the credit card market.
The rupee Tuesday recovered from one-month low level to close higher by 13 paise at 67.06 a dollar on the back of selling of the US currency by banks and exporters.
Calling for time-bound implementation of the Insolvency and Bankruptcy Code (IBC) 2016, Finance Minister Arun Jaitley on Tuesday directed senior officials of his ministry to take "immediate action" on the key requirements of the legislation.
The appointment of Urjit Patel as 24th Governor of the Reserve Bank will ensure continuity of policy as he has been incharge of the monetary policy, RBI Deputy Governor S S Mundra said Tuesday.