Issue: 1187
· RBI keeps repo rate unchanged
at 5.25% in April 2026 MPC meeting.
· RBI adopts ‘wait and watch’
stance amid global uncertainties.
· India’s GDP growth forecast
revised to ~6.9% for FY27.
· Inflation projected at 4.6%,
with upside risks from oil prices.
· India’s balance of payments
remains stable despite global volatility.
· Sensex and Nifty surge nearly
4% in biggest rally in months.
· World Bank projects India as
fastest-growing major economy in South Asia.
· South Asia growth expected to
slow to ~6.3% in 2026.
RESOLUTION OF THE MONETARY POLICY
COMMITTEE APRIL 6 TO 8, 2026
DECISIONS:
· The Monetary Policy Committee
(MPC) held its 60th meeting from April 6 to 8, 2026, under the
chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India.
· The MPC voted unanimously to keep the policy repo rate
under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent.
Consequently, the standing deposit facility (SDF) rate remains at 5.00 per cent
and the marginal standing facility (MSF) rate and the Bank Rate remains at 5.50
per cent.
·
The MPC also decided to
continue with the neutral stance.
ECONOMIC OUTLOOK & PROJECTIONS:
·
Real GDP is estimated to grow by 7.6 per cent YoY during the year, as per
the Second Advance Estimates of the new GDP series (base year 2022-23).
· Private consumption and fixed investment contributed
significantly to overall growth, while net external demand remained soft.
· On the supply side, estimated real GVA growth of 7.7 per cent.
· Taking all the ongoing geopolitical factors into
consideration, real GDP growth for 2026-27 is projected at 6.9 per cent,
with Q1 at 6.8 per cent; Q2 at 6.7 per cent; Q3 at 7.0 per cent; and Q4 at 7.2
per cent.
· As per the new CPI series (2024=100), headline inflation
increased to 3.2 per cent in February 2026 from 2.7 per cent in January.
· CPI
inflation for 2026-27 is projected to be at 4.6 per cent with Q1 at 4.0 per cent; Q2
at 4.4 per cent; Q3 at 5.2 per cent; and Q4 at 4.7 per cent.
STATEMENT ON DEVELOPMENTAL & REGULATORY POLICIES
·
Inclusion of Quarterly Profits in CRAR computation: As per the extant guidelines,
commercial banks (excluding RRBs) are permitted to include quarterly net
profits in the calculation of CRAR, provided that the increamental provision on
NPAs at the end of each of 4 quarters of previous financial year has not
deviated more than 25 per cent of the average of the four quarters, This
condition is now proposed to be dispensed.
·
Requirement of Investment
Fluctuation Reserve (IFR), applicable for commercial banks (including Local
Area Banks, but excluding Small Finance Banks, Payment Banks and Regional Rural
Banks) is proposed to be dispensed with.
·
The matters to be placed
before the Boards of banks, along with their periodicity, are determined by the
Boards themselves to be rationalized.
· Drafts of 64 Master
Directions consolidating extant supervisory instructions on up to nine
functional areas are being published on RBI website for public comments.
·
Simplifying the onboarding process of MSMEs in Trade
Receivables Discounting System (TReDS): It is proposed to dispense
with the requirement of due diligence of MSMEs while onboarding on TReDS
platforms.
·
Development of Term Money Market: At present, only banks and
standalone primary dealers are eligible to participate in the term money
market, with certain prudential limits. Now, it has been decided to allow
participation of non-bank participants viz., AIFIs, NBFCs, including housing
finance companies, companies, etc.; and to enhance the borrowing limit in the
term money market for standalone primary dealers.
Bulls Seize the Moment:
Sensex soars 2,946 points as US-Iran ceasefire: Markets roared back to life on
Wednesday as bulls charged ahead following the announcement of a two-week
ceasefire between the US and Iran. Brent crude futures plunged by $14, or 13%,
to $95 per barrel, boosting investor sentiment. The investor wealth surged by
?16.25 lakh crore—marking the largest single-day increase on record. With this
rally, investors have recouped ?33.10 lakh crore of the ?51.09 lakh crore lost
since the onset of the West Asia conflict—about 65% of the decline. Extending
gains for the fifth consecutive session, the Sensex soared 2,946.32 points
(3.95%) to close at 77,562.90. The Nifty jumped 873.70 points (3.78%) to settle
at 23,997.35, just shy of the 24,000 mark.
(Financial Express)
Bitcoin climbs to
three-week high on US-Iran ceasefire plan: Bitcoin touched a three-week
high as global markets turned more optimistic after a ceasefire deal between
the US and Iran. The largest cryptocurrency
climbed as much as 5% to $72,841, its highest level since March 18, in New York
trading, before paring some of the gain. Smaller tokens also notched big gains,
with Ether rising as much as 7.5% to $2,273.
(Moneycontrol)
World Bank sees India
growth at 6.6% in FY27, flags inflation risk from energy prices: The World Bank on Wednesday
raised India’s GDP growth forecast to 6.6% for the current fiscal but warned
that inflation could rise up due to strong demand, normalising food prices, and
higher energy prices. The latest forecast in its South Asia Economic Update of
April 2026 raises India’s growth forecast for the current fiscal from its
previous estimate of 6.3% in October. However, economic growth will be slower
than the 7.6% estimated in FY26 due to the challenges from the West Asia
conflict.
(Business Today)
RBI proposes bank boards
focus more on policy than daily operations: The Reserve Bank of India on
Wednesday proposed revised guidelines for bank boards, urging greater focus on
policy matters over day-to-day operations. In the draft rules, the RBI
said bank boards would be responsible for overseeing risk management systems,
strategy and key policies as well as monitoring exposure to related entities
and investments in subsidiaries. "The ultimate responsibility for the
bank's performance, conduct and control rests with the Board," the central
bank said, adding that some matters may be delegated to sub-committees or
senior management.
(Moneycontrol)
RBI found no material
concern at HDFC Bank, says Governor Malhotra: RBI hasn’t found any material
concern at HDFC Bank, Governor Sanjay Malhotra said on Wednesday, adding that
the overall banking system remained resilient. The statement follows the sudden
resignation of Atanu Chakraborty, the part-time chairman of the country’s
second-largest lender, in March, citing that his values and ethics were not in
congruence with those of the bank.“In our supervision, we have not come across
any such matter related to governance or conduct,” said Malhotra, interacting
with reporters after the monetary policy committee meeting on April 8.
(Business Today)
PPFAS AMC gets PFRDA nod to
manage NPS funds, expands into retirement segment: PPFAS Asset Management Pvt.
Ltd. has received approval PFRDA to act as a sponsor for a pension fund under
the NPS, marking its formal entry into India’s fast-growing retirement savings
space. With this approval, the fund house will soon begin managing retirement
assets of NPS subscribers. The company plans to set up a dedicated pension fund
entity, which will be responsible for launching schemes, managing investments,
and delivering long-term returns aligned with retirement goals.
(Business Today)
Bank NPAs
decline to 2%, no systemic hit due to Middle East conflict: RBI: Indian banks saw their bad loan ratio
drop to 2% by December 2025. This improvement spans across retail, services,
industry, and agriculture sectors. Bank credit growth accelerated to 13.8
percent year-on-year by March 2026. The Reserve Bank of India noted no systemic
concerns despite global supply chain disruptions.
(Economic Times)
Irdai revises
cyber security norms, mandates stronger governance: The Insurance Regulatory and Development
Authority of India (Irdai) on Wednesday issued revised information and cyber
security guidelines for regulated entities to strengthen the cybersecurity
framework for insurers and intermediaries, mandating tighter governance,
enhanced board accountability and more frequent risk reviews. Under the revised
norms, the Information Security Risk Management Committee (ISRMC) will now be
required to meet at least once every quarter, as against the earlier
requirement of two meetings annually, signalling a shift towards continuous
oversight in response to a rapidly evolving threat landscape.
(Business Standard)
NCLAT upholds NCLT order on
distribution of funds from a resolution plan: The National Company Law Appellate Tribunal on
Wednesday rejected a joint petition filed by five banks - Indian Bank, UCO
Bank, Bank of Baroda, ICICI Bank and Union Bank of India, challenging the
distribution of funds to dissenting financial creditors SBI and Punjab National
BankA two-member National Company Law Appellate Tribunal (NCLAT) bench said the
distribution mechanism for funds received from the resolution plan approved by
the lenders' body CoC in its commercial wisdom, and subsequently, the NCLT is
valid, lawful, and binding. The bench said that the 'Monitoring Committee'
formed after the bidding process was over and "could not have altered the
same".
(Economic Times)
Japan's MUFG Bank acquires
20 pc stake for Rs 39,618 cr in Shriram Finance: Japan's MUFG Bank has acquired a 20% stake in
Shriram Finance Ltd (SFL) for Rs 39,618 crore, marking the largest cross-border
investment in India's financial services sector. This strategic collaboration
aims to leverage MUFG's global expertise to accelerate SFL's growth and enhance
financial inclusion in India.
(Economic Times)
Foreign Secretary Misri
launches India-US trade Facilitation Portal: Foreign Secretary Vikram Misri on Wednesday
launched the India-US Trade Facilitation Portal here as the two countries eye
the USD 500 billion bilateral trade target. Misri, launched the portal at a
virtual event that was attended by India's Ambassador to the US Vinay Mohan
Kwatra, and officials and trade representatives from the two countries. "It
will serve as a bridge ensuring continuity and ensuring that existing supply
chains are reinforced, and at the same time will enable new commercial linkages
to emerge and grow," Misri said.
(Business Standard)
Indian govt hikes NBS
fertilizer subsidy for kharif season by up to 21% to Rs.41,533.81 crore: The Union Cabinet on Wednesday approved the
Nutrient-Based Subsidy (NBS) rates for kharif 2026 by allocating Rs.41,533.81
crore, which is Rs.4,317 crore higher than the expenditure of Rs.37,216.15 crore in
the previous kharif season. While the potash (K) subsidy has been maintained at
same level, the hike in nitrogen (N) is 10 per cent and it is 21 per cent, each
in phosphorous (P) and sulphur (S). As per the revised rates, fertilizer
companies will be paid subsidy at Rs.47.32/kg for N, Rs 52.76/kg for P, Rs
2.38/kg for K and Rs 3.16/kg for sulphur during Kharif 2026 (from April 1 to
September 30, 2026)
(Business Line)
SEBI plugs
lock-in gap for pledged shares: SEBI has operationalised a mechanism to
enable lock-in of pledged shares by allowing such securities to be marked as
“non-transferable” during the lock-in period, plugging a key gap in the existing
framework. The move follows SEBI’s amendment to the SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2018, notified on March 21, 2026. The
amendment provides that in cases where a lock-in cannot be created on specified
securities, such securities may instead be recorded as non-transferable by
depositories for the applicable duration. The framework mandates issuers to
incorporate suitable provisions in their Articles of Association, intimate
concerned lenders or pledgees, and make appropriate disclosures in offer
documents. Depositories, in turn, have made “necessary changes to their systems
and processes” to implement the mechanism.
(Business Line)
Treat each real
estate project independent for the purpose of insolvency: IBBI panel: A panel that’s been formed to examine the
challenges in real estate-specific insolvency cases has recommended that the
resolution process for stressed assets of real-estate companies has to be
conducted on a project-wise basis as against the current practice of taking the
entire company into insolvency. “Corporate insolvency resolution process (CIRP)
in the real estate sector should ordinarily be admitted on a project-wise basis
with each real estate project treated as an independent unit for the purposes
of insolvency admission and resolution. Admission of CIRP may be confined to
the defaulting project, and solvent, completed or unrelated projects of the
same developer may not be included. The ministry of corporate affairs (MCA) may
consider enabling project-wise admission of CIRP for real estate cases,” the
panel said in a report.
(Financial Express)
VESTING
§
Vesting
is a process by which an employee obtains ownership rights in work-related
benefits, such as stock options, stock shares, and certain retirement plan
assets.
§ Vesting is a way for employers to keep
top-performing employees at their companies. When an employee becomes vested in
employer-matching retirement benefits like a 401(k) or stock options, they have
non-forfeitable ownership rights to those assets.
RBI KEY RATES
Repo
Rate: 5.25%
SDF:
5.00%
MSF
/Bank Rate: 5.50%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 92.5586
INR
/ 1 GBP : 124.3019
INR
/ 1 EUR : 108.1985
INR
/100 JPY: 58.4900
EQUITY INDEX
Sensex:
77562.90 (+2946.32)
NIFTY:
23997.35 (+873.70)
Bnk NIFTY: 55703.90 (+2987.65)
CRPF Valour Day
(Shaurya Diwas): April 9 is
primarily celebrated as CRPF Valour Day (Shaurya Diwas) in India, honoring the
2nd Battalion of the Central Reserve Police Force's heroic defense at Sardar
Post, Gujarat, in 1965. On this day, CRPF personnel successfully fought off a
Pakistani brigade attack, marking a significant victory in Indian military
history.
Historical
events: April 9 marks
significant historical milestones, most notably Shaurya Diwas in India,
celebrating the CRPF's 1965 victory against Pakistan in the Rann of Kutch.
Globally, it marks the 1413 coronation of Henry V and the 2005 marriage of King
Charles III. It is also the birth anniversary of Hindi writer Rahul
Sanskrityayan.
****Have a nice Day****
Visit our website
www.thebankingupdates.com
For Regular
updates, Monthly e-magazines & Promotion Study materials
CLICK HERE TO JOIN OUR COMMUNITY/GROUP FOR
DAILY UPDATES
CLICK HERE TO
JOIN OUR CHANNEL FOR DAILY UPDATES & QUIZ
Contact us: #
8261802533
Email: bankingupdates2020@gmail.comIssue: 1187
Dt: 09 April 2026
· RBI keeps repo rate unchanged
at 5.25% in April 2026 MPC meeting.
· RBI adopts ‘wait and watch’
stance amid global uncertainties.
· India’s GDP growth forecast
revised to ~6.9% for FY27.
· Inflation projected at 4.6%,
with upside risks from oil prices.
· India’s balance of payments
remains stable despite global volatility.
· Sensex and Nifty surge nearly
4% in biggest rally in months.
· World Bank projects India as
fastest-growing major economy in South Asia.
· South Asia growth expected to
slow to ~6.3% in 2026.
RESOLUTION OF THE MONETARY POLICY
COMMITTEE APRIL 6 TO 8, 2026
DECISIONS:
·
The Monetary Policy Committee
(MPC) held its 60th meeting from April 6 to 8, 2026, under the
chairmanship of Shri Sanjay Malhotra, Governor, Reserve Bank of India.
· The MPC voted unanimously to keep the policy repo rate
under the liquidity adjustment facility (LAF) unchanged at 5.25 per cent.
Consequently, the standing deposit facility (SDF) rate remains at 5.00 per cent
and the marginal standing facility (MSF) rate and the Bank Rate remains at 5.50
per cent.
·
The MPC also decided to
continue with the neutral stance.
ECONOMIC OUTLOOK & PROJECTIONS:
·
Real GDP is estimated to grow by 7.6 per cent YoY during the year, as per
the Second Advance Estimates of the new GDP series (base year 2022-23).
· Private consumption and fixed investment contributed
significantly to overall growth, while net external demand remained soft.
· On the supply side, estimated real GVA growth of 7.7 per cent.
· Taking all the ongoing geopolitical factors into
consideration, real GDP growth for 2026-27 is projected at 6.9 per cent,
with Q1 at 6.8 per cent; Q2 at 6.7 per cent; Q3 at 7.0 per cent; and Q4 at 7.2
per cent.
· As per the new CPI series (2024=100), headline inflation
increased to 3.2 per cent in February 2026 from 2.7 per cent in January.
· CPI
inflation for 2026-27 is projected to be at 4.6 per cent with Q1 at 4.0 per cent; Q2
at 4.4 per cent; Q3 at 5.2 per cent; and Q4 at 4.7 per cent.
STATEMENT ON DEVELOPMENTAL & REGULATORY POLICIES
·
Inclusion of Quarterly Profits in CRAR computation: As per the extant guidelines,
commercial banks (excluding RRBs) are permitted to include quarterly net
profits in the calculation of CRAR, provided that the increamental provision on
NPAs at the end of each of 4 quarters of previous financial year has not
deviated more than 25 per cent of the average of the four quarters, This
condition is now proposed to be dispensed.
·
Requirement of Investment
Fluctuation Reserve (IFR), applicable for commercial banks (including Local
Area Banks, but excluding Small Finance Banks, Payment Banks and Regional Rural
Banks) is proposed to be dispensed with.
·
The matters to be placed
before the Boards of banks, along with their periodicity, are determined by the
Boards themselves to be rationalized.
·
Drafts of 64 Master
Directions consolidating extant supervisory instructions on up to nine
functional areas are being published on RBI website for public comments.
·
Simplifying the onboarding process of MSMEs in Trade
Receivables Discounting System (TReDS): It is proposed to dispense
with the requirement of due diligence of MSMEs while onboarding on TReDS
platforms.
·
Development of Term Money Market: At present, only banks and
standalone primary dealers are eligible to participate in the term money
market, with certain prudential limits. Now, it has been decided to allow
participation of non-bank participants viz., AIFIs, NBFCs, including housing
finance companies, companies, etc.; and to enhance the borrowing limit in the
term money market for standalone primary dealers.
Bulls Seize the Moment:
Sensex soars 2,946 points as US-Iran ceasefire: Markets roared back to life on
Wednesday as bulls charged ahead following the announcement of a two-week
ceasefire between the US and Iran. Brent crude futures plunged by $14, or 13%,
to $95 per barrel, boosting investor sentiment. The investor wealth surged by
?16.25 lakh crore—marking the largest single-day increase on record. With this
rally, investors have recouped ?33.10 lakh crore of the ?51.09 lakh crore lost
since the onset of the West Asia conflict—about 65% of the decline. Extending
gains for the fifth consecutive session, the Sensex soared 2,946.32 points
(3.95%) to close at 77,562.90. The Nifty jumped 873.70 points (3.78%) to settle
at 23,997.35, just shy of the 24,000 mark.
(Financial Express)
Bitcoin climbs to
three-week high on US-Iran ceasefire plan: Bitcoin touched a three-week
high as global markets turned more optimistic after a ceasefire deal between
the US and Iran. The largest cryptocurrency
climbed as much as 5% to $72,841, its highest level since March 18, in New York
trading, before paring some of the gain. Smaller tokens also notched big gains,
with Ether rising as much as 7.5% to $2,273.
(Moneycontrol)
World Bank sees India
growth at 6.6% in FY27, flags inflation risk from energy prices: The World Bank on Wednesday
raised India’s GDP growth forecast to 6.6% for the current fiscal but warned
that inflation could rise up due to strong demand, normalising food prices, and
higher energy prices. The latest forecast in its South Asia Economic Update of
April 2026 raises India’s growth forecast for the current fiscal from its
previous estimate of 6.3% in October. However, economic growth will be slower
than the 7.6% estimated in FY26 due to the challenges from the West Asia
conflict.
(Business Today)
RBI proposes bank boards
focus more on policy than daily operations: The Reserve Bank of India on
Wednesday proposed revised guidelines for bank boards, urging greater focus on
policy matters over day-to-day operations. In the draft rules, the RBI
said bank boards would be responsible for overseeing risk management systems,
strategy and key policies as well as monitoring exposure to related entities
and investments in subsidiaries. "The ultimate responsibility for the
bank's performance, conduct and control rests with the Board," the central
bank said, adding that some matters may be delegated to sub-committees or
senior management.
(Moneycontrol)
RBI found no material
concern at HDFC Bank, says Governor Malhotra: RBI hasn’t found any material
concern at HDFC Bank, Governor Sanjay Malhotra said on Wednesday, adding that
the overall banking system remained resilient. The statement follows the sudden
resignation of Atanu Chakraborty, the part-time chairman of the country’s
second-largest lender, in March, citing that his values and ethics were not in
congruence with those of the bank.“In our supervision, we have not come across
any such matter related to governance or conduct,” said Malhotra, interacting
with reporters after the monetary policy committee meeting on April 8.
(Business Today)
PPFAS AMC gets PFRDA nod to
manage NPS funds, expands into retirement segment: PPFAS Asset Management Pvt.
Ltd. has received approval PFRDA to act as a sponsor for a pension fund under
the NPS, marking its formal entry into India’s fast-growing retirement savings
space. With this approval, the fund house will soon begin managing retirement
assets of NPS subscribers. The company plans to set up a dedicated pension fund
entity, which will be responsible for launching schemes, managing investments,
and delivering long-term returns aligned with retirement goals.
(Business Today)
Bank NPAs
decline to 2%, no systemic hit due to Middle East conflict: RBI: Indian banks saw their bad loan ratio
drop to 2% by December 2025. This improvement spans across retail, services,
industry, and agriculture sectors. Bank credit growth accelerated to 13.8
percent year-on-year by March 2026. The Reserve Bank of India noted no systemic
concerns despite global supply chain disruptions.
(Economic Times)
Irdai revises
cyber security norms, mandates stronger governance: The Insurance Regulatory and Development
Authority of India (Irdai) on Wednesday issued revised information and cyber
security guidelines for regulated entities to strengthen the cybersecurity
framework for insurers and intermediaries, mandating tighter governance,
enhanced board accountability and more frequent risk reviews. Under the revised
norms, the Information Security Risk Management Committee (ISRMC) will now be
required to meet at least once every quarter, as against the earlier
requirement of two meetings annually, signalling a shift towards continuous
oversight in response to a rapidly evolving threat landscape.
(Business Standard)
NCLAT upholds NCLT order on
distribution of funds from a resolution plan: The National Company Law Appellate Tribunal on
Wednesday rejected a joint petition filed by five banks - Indian Bank, UCO
Bank, Bank of Baroda, ICICI Bank and Union Bank of India, challenging the
distribution of funds to dissenting financial creditors SBI and Punjab National
BankA two-member National Company Law Appellate Tribunal (NCLAT) bench said the
distribution mechanism for funds received from the resolution plan approved by
the lenders' body CoC in its commercial wisdom, and subsequently, the NCLT is
valid, lawful, and binding. The bench said that the 'Monitoring Committee'
formed after the bidding process was over and "could not have altered the
same".
(Economic Times)
Japan's MUFG Bank acquires
20 pc stake for Rs 39,618 cr in Shriram Finance: Japan's MUFG Bank has acquired a 20% stake in
Shriram Finance Ltd (SFL) for Rs 39,618 crore, marking the largest cross-border
investment in India's financial services sector. This strategic collaboration
aims to leverage MUFG's global expertise to accelerate SFL's growth and enhance
financial inclusion in India.
(Economic Times)
Foreign Secretary Misri
launches India-US trade Facilitation Portal: Foreign Secretary Vikram Misri on Wednesday
launched the India-US Trade Facilitation Portal here as the two countries eye
the USD 500 billion bilateral trade target. Misri, launched the portal at a
virtual event that was attended by India's Ambassador to the US Vinay Mohan
Kwatra, and officials and trade representatives from the two countries. "It
will serve as a bridge ensuring continuity and ensuring that existing supply
chains are reinforced, and at the same time will enable new commercial linkages
to emerge and grow," Misri said.
(Business Standard)
Indian govt hikes NBS
fertilizer subsidy for kharif season by up to 21% to ?41,533.81 crore: The Union Cabinet on Wednesday approved the
Nutrient-Based Subsidy (NBS) rates for kharif 2026 by allocating ?41,533.81
crore, which is ?4,317 crore higher than the expenditure of ?37,216.15 crore in
the previous kharif season. While the potash (K) subsidy has been maintained at
same level, the hike in nitrogen (N) is 10 per cent and it is 21 per cent, each
in phosphorous (P) and sulphur (S). As per the revised rates, fertilizer
companies will be paid subsidy at ?47.32/kg for N, Rs 52.76/kg for P, Rs
2.38/kg for K and Rs 3.16/kg for sulphur during Kharif 2026 (from April 1 to
September 30, 2026)
(Business Line)
SEBI plugs
lock-in gap for pledged shares: SEBI has operationalised a mechanism to
enable lock-in of pledged shares by allowing such securities to be marked as
“non-transferable” during the lock-in period, plugging a key gap in the existing
framework. The move follows SEBI’s amendment to the SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2018, notified on March 21, 2026. The
amendment provides that in cases where a lock-in cannot be created on specified
securities, such securities may instead be recorded as non-transferable by
depositories for the applicable duration. The framework mandates issuers to
incorporate suitable provisions in their Articles of Association, intimate
concerned lenders or pledgees, and make appropriate disclosures in offer
documents. Depositories, in turn, have made “necessary changes to their systems
and processes” to implement the mechanism.
(Business Line)
Treat each real
estate project independent for the purpose of insolvency: IBBI panel: A panel that’s been formed to examine the
challenges in real estate-specific insolvency cases has recommended that the
resolution process for stressed assets of real-estate companies has to be
conducted on a project-wise basis as against the current practice of taking the
entire company into insolvency. “Corporate insolvency resolution process (CIRP)
in the real estate sector should ordinarily be admitted on a project-wise basis
with each real estate project treated as an independent unit for the purposes
of insolvency admission and resolution. Admission of CIRP may be confined to
the defaulting project, and solvent, completed or unrelated projects of the
same developer may not be included. The ministry of corporate affairs (MCA) may
consider enabling project-wise admission of CIRP for real estate cases,” the
panel said in a report.
(Financial Express)
VESTING
§
Vesting
is a process by which an employee obtains ownership rights in work-related
benefits, such as stock options, stock shares, and certain retirement plan
assets.
§ Vesting is a way for employers to keep
top-performing employees at their companies. When an employee becomes vested in
employer-matching retirement benefits like a 401(k) or stock options, they have
non-forfeitable ownership rights to those assets.
RBI KEY RATES
Repo
Rate: 5.25%
SDF:
5.00%
MSF
/Bank Rate: 5.50%
CRR:
3.00%
SLR:
18.00%
FOREX RATES (RBI REF. RATE)
INR
/ 1 USD : 92.5586
INR
/ 1 GBP : 124.3019
INR
/ 1 EUR : 108.1985
INR
/100 JPY: 58.4900
EQUITY INDEX
Sensex:
77562.90 (+2946.32)
NIFTY:
23997.35 (+873.70)
Bnk NIFTY: 55703.90 (+2987.65)
CRPF Valour Day
(Shaurya Diwas): April 9 is
primarily celebrated as CRPF Valour Day (Shaurya Diwas) in India, honoring the
2nd Battalion of the Central Reserve Police Force's heroic defense at Sardar
Post, Gujarat, in 1965. On this day, CRPF personnel successfully fought off a
Pakistani brigade attack, marking a significant victory in Indian military
history.
Historical
events: April 9 marks
significant historical milestones, most notably Shaurya Diwas in India,
celebrating the CRPF's 1965 victory against Pakistan in the Rann of Kutch.
Globally, it marks the 1413 coronation of Henry V and the 2005 marriage of King
Charles III. It is also the birth anniversary of Hindi writer Rahul
Sanskrityayan.
****Have a nice Day****
Visit our website
www.thebankingupdates.com
For Regular
updates, Monthly e-magazines & Promotion Study materials
CLICK HERE TO JOIN OUR COMMUNITY/GROUP FOR
DAILY UPDATES
CLICK HERE TO
JOIN OUR CHANNEL FOR DAILY UPDATES & QUIZ
Contact us: #
8261802533