Category: RBI–Banks

*******Compensation of Rs 100 to Rs 5,000 per day for delay by bank in processing your request in these 5 situations

Read more at:https://economictimes.indiatimes.com/wealth/legal/will/compensation-of-rs-100-to-rs-5000-per-day-for-delay-by-bank-in-processing-your-request-in-these-5-situations/articleshow/134782214.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst What happens if you apply for a credit card closure with your bank, and it takes longer than the prescribed time limit?

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*******SBI Chairman’s views on the latest MPC decisions [1]More than 50% of banking system loans r linked to external benchmarks which means they are repriced immediately–[2] Credit growth is being supported by the ample liquidity available [3]Action on deposit front normally–begins with a time lag and this time [also] because of ample liquidity in the system — it will begin after 2/3 quarters [4] NIM for next 2/3 quarters will improve–  Courtesy BusinessLine

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*******MPC meet — Takeaways [1] Credit growth–at present–18% [2] Some moderation likely as policy rate transmission takes place over the next couple of quarters which will affect demand & costs [3] RBI wants banks to deploy FCNR [B] deposits not at one go [4] Currency leakage will absorb 3 lac crores of liquidity [5] CRR increase is least preferred option – to absorb liquidity [6] Corporates r holding healthy cash reserves & bank credit remaining robust, India’s dependence on global capital is lower than that of many  other economies– Courtesy BusinessLine

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