The RBI will inject liquidity of Rs 30,000 Cr through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak. The RBI has decided to conduct purchase of Govt securities under open market operations (OMOs) for an aggregate amount of Rs 30,000 Cr in two tranches of Rs 15,000 Cr each in March, the central bank said in a statement. -Business Standard
FM Nirmala Sitharaman said today that the Govt has assessed impact of the coronavirus on tourism, aviation, animal husbandry sectors and the MSMEs with respective ministries. She said that the Finance Ministry was compiling the demands by each sector that was impacted by the coronavirus.
-Business Line
The All India bank strike on March 27 by AIBEA and AIBOA to oppose the merger of 10 banks and proposed privatisation of IDBI Bank, stands deferred. “Looking to the increasing health risk and alert on account of COVID-19 and taking cognisance of PM’s broadcast to the nation on this issue, and the need to stand with the people at large at this hour of national health threat scenario, and the panic and fear prevailing amongst the people, it was felt desirable to review our strike call, and hence, it has been decided to defer our proposed strike,” C H Venkatachalam, General Secretary , AIBEA, said.
-Business Line
From SMS alerts to email and social media campaigns, public and private sector banks are urging their customers to refrain from visiting their branches to avoid the spread of the virus, and to use mobile and internet banking services to reduce currency transactions. Banks have built contingency plans to ensure that critical IT units for the delivery of digital banking, treasury services and cheque clearing continue.
-Business Line
The RBI today appointed 2 additional directors on the board of Yes Bank -- former deputy governor of the central bank R Gandhi and Ananth Narayan, an associate professor at SP Jain Institute of Management and Research. The appointment, effective March 26, will be for two years, the RBI said
-Economic Times
The RBI will inject liquidity of Rs 30,000 Cr through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak. The RBI has decided to conduct purchase of Govt securities under open market operations (OMOs) for an aggregate amount of Rs 30,000 Cr in two tranches of Rs 15,000 Cr each in March, the central bank said in a statement.
-Business Standard
The Supreme Court today stayed Kerala High Court order asking authorities not to levy taxes and recover bank dues from people till April 6 in view of the coronavirus pandemic. A bench took note of the submissions of Solicitor General Tushar Mehta, who was appearing for the Centre, that the Kerala High Court order needed to be stayed as there cannot be a blanket order. Restraint on recovery of taxes will put the Govt at prejudice due to the closure of financial year on March 31, Mehta said, adding that there is a mechanism for making online payment of taxes.
-Economic Times
The IBA’s withdrawal of its communique calling attention to a Ministry of Finance’s letter on the treatment of stressed companies which have taken loans of up to Rs 200 Cr has stumped the banking industry. The ministry’s letter had said banks are
Good morning. Have a corona free day.
FM Nirmala Sitharaman said today that the Govt has assessed impact of the coronavirus on tourism, aviation, animal husbandry sectors and the MSMEs with respective ministries. She said that the Finance Ministry was compiling the demands by each sector that was impacted by the coronavirus.
-Business Line
The All India bank strike on March 27 by AIBEA and AIBOA to oppose the merger of 10 banks and proposed privatisation of IDBI Bank, stands deferred. “Looking to the increasing health risk and alert on account of COVID-19 and taking cognisance of PM’s broadcast to the nation on this issue, and the need to stand with the people at large at this hour of national health threat scenario, and the panic and fear prevailing amongst the people, it was felt desirable to review our strike call, and hence, it has been decided to defer our proposed strike,” C H Venkatachalam, General Secretary , AIBEA, said.
-Business Line
From SMS alerts to email and social media campaigns, public and private sector banks are urging their customers to refrain from visiting their branches to avoid the spread of the virus, and to use mobile and internet banking services to reduce currency transactions. Banks have built contingency plans to ensure that critical IT units for the delivery of digital banking, treasury services and cheque clearing continue.
-Business Line
The RBI today appointed 2 additional directors on the board of Yes Bank -- former deputy governor of the central bank R Gandhi and Ananth Narayan, an associate professor at SP Jain Institute of Management and Research. The appointment, effective March 26, will be for two years, the RBI said
-Economic Times
The RBI will inject liquidity of Rs 30,000 Cr through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak. The RBI has decided to conduct purchase of Govt securities under open market operations (OMOs) for an aggregate amount of Rs 30,000 Cr in two tranches of Rs 15,000 Cr each in March, the central bank said in a statement.
-Business Standard
The Supreme Court today stayed Kerala High Court order asking authorities not to levy taxes and recover bank dues from people till April 6 in view of the coronavirus pandemic. A bench took note of the submissions of Solicitor General Tushar Mehta, who was appearing for the Centre, that the Kerala High Court order needed to be stayed as there cannot be a blanket order. Restraint on recovery of taxes will put the Govt at prejudice due to the closure of financial year on March 31, Mehta said, adding that there is a mechanism for making online payment of taxes.
-Economic Times
The IBA’s withdrawal of its communique calling attention to a Ministry of Finance’s letter on the treatment of stressed companies which have taken loans of up to Rs 200 Cr has stumped the banking industry. The ministry’s letter had said banks are