RBI steps up auctions to drain liquidity
Over the past four days, the RBI has carried out six rounds of short-term variable rate reverse repo (VRR) auctions that help mop up surplus funds from the banking system.
Top broker bodies differ over plan to extend trading hours
The ANMI board has conveyed to the Brokers’ Industry Standards Forum (ISF) that the board is in principle agreeable to the extended trading hours for the index derivatives, said the association’s national president Vijay Mehta.
Punjab govt pays banks ₹1,426 crore to complete takeover of GVK Power’s facility
The Punjab government has finalized the payment of ₹1,426 crore to banks, including IDBI, to acquire the debt-ridden 540-MW GVK Power’s Goindwal Sahib thermal power plant. This settlement, equivalent to 43% of principal dues, marks a significant recovery for banks involved. Litigation delays with the plant owners have now been resolved, facilitating the transaction.