RBI issues regulatory guidelines for implementation of Ind AS

The Reserve Bank on Friday issued regulatory guidelines for implementation of Indian Accounting Standards (Ind AS) by Non-banking financial companies (NBFCs) and Asset reconstruction companies (ARCs) when they prepare their financial results from FY20. Indian Accounting Standards is the Accounting standard adopted by companies in India and they are issued under the supervision of Accounting Standards Board (ASB). The Ind AS have ..

Topics: Indian Accounting Standards • NBFCs • Reserve Bank of India

RBI reduces exposure limits for UCBs

According to the Reserve Bank of India (RBI) notification, the single borrower and group exposure limit for Urban cooperative banks (UCBs) to 15% and 25% of tier I capital, respectively. This reduction in limit is to mitigate concentration risks arising out of large loans. Existing norms allowed 15% for single borrowers and 40% to group ..

Topics: Cooperative banking • Reserve Bank of India • Urban cooperative banks

SBI to infuse Rs.725 Cr into Yes Bank

The Reserve Bank of India drafted a reconstruction plan of Yes Bank recently. As per the plan, the investor bank shall buy 49% stake in Yes Bank. Recently, the State Bank of India announced that the executive committee of its central board approved for purchase of 725 Crore shares in YES Bank at a price ..

Topics: Reserve Bank of India • State Bank of India • Yes Bank

India’s CAD narrows to 0.2% in December quarter

As per the recent notification of the Reserve Bank of India, Current Account Deficit (CAD) was 0.2% of GDP in December quarter when compared to 0.9% of GDP in the September quarter. It also stated that the CAD narrowed to 1% of GDP in April to December of 2019-20 when compared to 2.6% in April-December ..

Topics: current account deficit • GDP • Reserve Bank of India

Chalasani Venkat Nageswar appointed as Deputy managing director and CFO of SBI

State Bank of India recently announced that Chalasani Venkat Nageswar has been given additional charge of Deputy managing director and Chief financial officer (CFO) of the bank. He is presently serving as the Deputy Managing Director (International Banking Group) has been given additional charges. SBI also recently said that it will invest ₹2,450 crore now, ..

Topics: Banks in India • Reserve Bank of India • SBI