Page-10 of Finance

Sarada Kumar Hota appointed as Managing Director of National Housing Bank

Sarada Kumar Hota has been appointed as the new Managing Director of National Housing Bank (NHB) for a period of three years. Prior to this appointment, Hota was Managing Director and Chief Executive Officer of Can Fin Homes. NHB, which ..

NSE Clearing Ltd to head SEBI panel to review margins on derivatives

The Securities and Exchange Board of India (SEBI) has constituted a working group, headed by NSE Clearing Ltd., to review the current framework of margins in the futures and options segment. The group will look into the issue and submit ..

Government of India reduces rate of contribution under Employees’ State Insurance (ESI) Act from 6.5% to 4.0%

The Union Government has taken a historic decision to reduce the salary contribution of industrial workers who are eligible for healthcare benefits under the Employees’ State Insurance Act (ESI) Act from 6.5% to 4.0%. The move is aimed at formalizing ..

Sunil Mehta recommends changes in existing Inter-Creditor Agreement (ICA)

The Sashakt Committee, headed by PNB non-executive chairman Sunil Mehta, has recommended changes in existing Inter-Creditor Agreement (ICA) to incorporate revised voting threshold and other changes for decision making stipulated by the Reserve Bank of India (RBI). It will enable ..

SBI introduces repo-linked home loan product

After linking its short-term loans and large savings deposits rates to the repo rate, the State Bank of India (SBI) has decided to introduce a repo rate-linked home loan product from July 1. The home loans under this product will ..

6-member Monetary Policy Committee of RBI reduces repo rate

On June 6, the 6-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 5.75% from 6.0% with immediate effect in its 2nd bi-monthly monetary policy statement for ..