Government mulls new framework to put IBC cases on fast track
The details will be finalised after broader stakeholder consultations. “The government has studied the best practices of several jurisdictions and a similar, if not the same, insolvency mechanism is followed in the UK,” said an official aware of details. “Various aspects and structures of the planned framework are being examined and a final decision would […]
Russian surpluses with Indian banks said to be flowing into local Gsecs
While the exact quantum of funds flowing to Indian sovereign debt is not in the public domain, bond traders pointed to an increase in the ownership pattern of the ‘others’ category of government securities as an indicator.
HDFC Bank increases MCLR by up to 15 bps
According to the bank website, the one-year MCLR which is the key barometer for most loans has been hiked to 9.05% from the earlier 8.95%.
Local indices rebound on global cues
The Sensex advanced 709.96 points, or 1.16%, to close at 61,764 -a day after banking stocks took a beating following a selloff in HDFC twins. The Nifty gained 195.40 points, or 1.08%, to settle at 18,264.
RBI parks incremental reserves in US treasuries, other sovereign securities
The latest half-yearly report on foreign exchange management showed that as at end-March 2023, of the total foreign currency assets of $509.69 billion, $411.65 billion was invested in securities.