Liquidity deficit falls to 3-month low as govt steps up spending
Numerous rounds of variable rate repos by the Reserve Bank of India and its recent strategy in foreign exchange markets have also contributed to easing liquidity conditions following a prolonged stretch of large cash deficits in the banking system, market participants said.
Tata Motors to split into 2 listed companies
While the commercial vehicle business and its related investments will be housed in one entity, the passenger vehicle business (PV), electric vehicles, JLR and its related investments will form another entity “as there are limited synergies” between the two, the company said in a stock exchange filing on Monday.
RBI OKs interoperable payment system for internet banking transactions
The Reserve Bank of India has approved NPCI Bharat BillPay Ltd to implement an interoperable payment system for internet banking transactions. The new system will facilitate quicker settlement of funds for merchants. It is expected to be launched during the current calendar year. India accounts for 46% of the world’s digital transactions.