Issue: 1305
·
SEBI drops proceedings against Max Financial, Axis entities
in Max Life share deal.
·
SoftBank pares nearly 2.6% stake in Lenskart for Rs 2,888
crore.
·
RBI’s FCNR(B) forex swap scheme mobilises $73 billion in
foreign exchange inflows.
·
Govt to sell up to 6% stake in Hindustan Copper via OFS,
floor price Rs 514.
·
Fino Payments Bank board extends tenure of interim CEO by
another three months.
·
Govt appoints Mathew, Sinha, Akbaruddin as part-time RBI
board directors.
·
RBI absorbs Rs.1.41 trn surplus liquidity via VRRR, announces
fresh auction.
Indian farmers cover 96% of
the normal Kharif area as planting window closes: The sowing area under all kharif crops reached
nearly 96 per cent of the season’s normal area of 1,104.46 lakh hectares (lh),
while the deficit from the year-ago level narrowed to 0.3 per cent as of August
21. The pace of sowing has increased during the period from August 15 to 21, as
farmers race to finish as early as possible before the planting window closes. Farmers
have planted kharif crops in over 40 lh during August 15-21 as against nearly
35 lh a year ago, helping the country to narrow the overall deficit in sowing
area which was about 2 per cent until August 7..
(Business Line)
Only 3% women in formal jobs, skilling gains not translating into employment: NITI Aayog report: Women’s skilling gains are not translating into jobs and only 3 per cent are in formal employment, said a NITI Aayog report published recently. The report’s analysis says that among the women covered across its segments, only 3 per cent are in formal jobs, while 71 per cent are either in informal employment or the NEET segment — those Not in Education, Employment, or Training. This points to a much larger problem than merely women’s access to training: the labour market itself is not providing enough formal, accessible and flexible opportunities, the report named Reimagining Skilling for Viksit Bharat@2047 says.
(Business Line)
Service producer prices
index mixed in Q1; air passenger services surge 32%: India’s service producer
prices showed a sharp divergence across sectors in the first quarter of FY27
(Q1FY27), with air passenger services recording a 31.94% year-on-year increase,
while banking service prices remained in deflation, according to provisional
estimates released by the government on Monday. The air (passenger) service
price index rose to 126.4 in Q1 FY27 from 106.9 in the fourth quarter of FY26.
Its year-on-year inflation stood at 31.94% in the latest quarter, the highest
among the seven services covered in the Service Producer Price Index. The
management of pension fund service price index recorded the second-highest
year-on-year increase, rising 5.20% in Q1FY27. The index increased to 113.3
from 103.8 in the previous quarter.
(Business Standard)
Fairfax bid for IDBI may
get nod in a week: Bringing the curtains down on
the five-year-old IDBI Bank strategic sale process, the Centre may within a
week approve Canada’s Fairfax Financial Holdings’ bid to acquire a 60.72% stake
in the lender from the government and Life Insurance Corporation of India
(LIC). Fairfax and Dubai-based Emirates NBD submitted revised bids for the
lender last month after their initial offers fell well short of the
government’s reserve price. An in-principle decision has been taken and the
timing of the announcement is being worked out, sources said.
(Financial Express)
10 years of UPI: Cashless,
not cash-free: A
decade after the Unified Payments Interface (UPI) was launched, it has rewired
how Indians pay for everything from groceries to gold. Yet currency in circulation
has hit a record Rs 41.7 lakh crore, presenting policymakers with what Reserve
Bank of India Deputy Governor Shirish Chandra Murmu referred to as the “cash
paradox”: a country paying digitally like never before, while stacking up more
physical currency than ever. The ambition was never modest. At the UPI pilot
launch in April 2016, then-RBI Governor Raghuram Rajan declared: “I have said
the Indian banking system needed a revolution. The revolution is upon us. The
country has the most sophisticated public payment infrastructure in the world,
which can be accessible to anyone who enters the system.” The revolution
delivered. UPI, built by the National Payments Corporation of India (NPCI)
under RBI oversight, turned the mobile phone into a bank for hundreds of
millions. Annual transactions exploded from 17.8 million in FY17 to over 241.62
billion in FY26; their value soared from Rs 7,000 crore to around Rs 314 lakh
crore.
(Financial Express)
Tata Capital ties up with
Japan’s Resona Bank: Tata Capital on Monday signed
a memorandum of understanding (MoU) with Japan’s Resona Bank to help Japanese
companies tap opportunities in the Indian market. Under this non-exclusive
collaboration, Resona Bank will leverage Tata Capital’s extensive presence and
expertise in financial services to provide support for its customers evaluating
opportunities in the country as well as those operating in the market,
according to a release.
(Financial Express)
Bank unions threaten
nationwide strike on September 11 to press for 5-day banking, other demands: Bank unions will strike nationwide on
September 11 due to unresolved demands. This action follows a government
'negative attitude' towards key union proposals. The strike will impact banking
services for four days, including holidays. Further strikes are planned for
September 28 and an indefinite one from October 26. Unions seek five-day
banking, pension improvements, and a uniform incentive scheme.
(Economic Times)
SBI flags 'chalk and
cheese' divide in RBI's monetary policy signals: The Reserve Bank of India’s (RBI’s) recent
policy communications have sent conflicting signals on the future course of
interest rates, according to the latest report by the State Bank of India
(SBI). The report compared the minutes of the Monetary
Policy Committee’s (MPC’s) August meeting, the accompanying monetary policy
statement, and RBI Governor Sanjay Malhotra’s public remarks, and found the
three documents diverging in tone. “The recent monetary policy minutes, monetary
policy press statement and the governor’s statement for August and even earlier
months reveal the conundrum of ‘chalk and cheese’ in monetary policy. There
were clear yet divergent signals from these three statements despite
originating from the same institution/source,”. "like chalk and cheese" means that two
people or things are completely different from each other.
(Business Standard)
Government to cap airport
bundles per bidder to curb 'oligopoly' risks in next privatisation round: The number of airport bundles that may be awarded
to a single bidder would be capped to mitigate the risks arising from market
concentration and potential over-leveraging, including their possible cascading
impact across projects, the civil aviation ministry told Department of Economic
Affairs' (DEA) Public Private Partnership Appraisal Committee (PPPAC) on August
4. "The modalities of such capping are being finalised and would be
submitted as part of the proposal seeking final recommendation by the
PPPAC," the ministry told the Committee in response to a query, which
called the aviation sector "oligopolistic" in nature.
(Moneycontrol)
Karnataka suspends food
licences of Amazon, Swiggy Instamart, BigBasket over online sale of toxic
Datura:
Karnataka
Food Safety and Drug Administration Department has suspended food licences and
registrations of Amazon, Swiggy Instamart and BigBasket till further orders
over the online sale of toxic Datura fruits and seeds for human consumption. The department has also
directed three e-commerce platforms to immediately remove all listings and
advertisements for Datura, also known as Dhatura, and stop its sale and
distribution as a food product.
(Moneycontrol)
Sebi seeks inclusion of
fractional shares in Companies Amendment Bill: The Securities and Exchange Board of India
(Sebi) has asked the Ministry of Corporate Affairs (MCA) to recognise issuance
and holding of fractional shares in the Companies Amendment Bill, according to
official sources. A fractional share refers to a portion that is less
than one share unit. Fractional shares may arise as a consequence of corporate
actions like mergers, issue of bonuses, or rights issues. Another government
source said the reason for not including fractional shares in the Bill tabled
before Parliament were concerns this could raise for minority shareholders.
This is because such shares would not have any voting rights.
(Business Standard)
Unified GST audit authority
for multi-state companies likely in 6 months: The Central Board of Indirect Taxes and
Customs (CBIC) is working a scheme that will allow multi-state businesses to
use a single PAN-based registration for goods and services Tax (GST) audit and
investigations. The move aimed at improving ease of doing
business may be introduced in the next six months, government sources told
Moneycontrol. Multi-state businesses operating under a single Permanent Account
Number (PAN) will be managed by a unified central GST authority. “The CBIC has
constituted a working group to examine this scheme. For businesses, the real
benefit will be on the investigation or audit side...not routine return filing.
Each state registration will remain legally separate, and therefore state-wise
filings will continue," a source said.
(Moneycontrol)
From trades to balance
sheets: Sebi to widen AI surveillance net: Sebi is planning to extend artificial
intelligence (AI)-based surveillance from trading data to corporate filings, a
dedicated AI model akin to its existing trading-surveillance tool. This would
help flag financial misstatements and manipulation in quarterly results without
waiting for investor complaints. While the regulator’s internally developed AI
models generate alerts based on which the bulk of enforcement action in
trading-related violations are taken, corporate investigations remain largely
complaint-driven. The market watchdog has developed a team dedicated to fill
this gap and work on the AI-model, Sebi wholetime member Kamlesh Chandra
Varshney indicated at a recent conference on capital markets organised by the
Federation of Indian Chambers of Commerce & Industry (Ficci).
(Business Standard)
India plans first tokenised
corporate bond issue using blockchain in Sept: India will launch tokenised corporate bonds
next month, as it tests the use of blockchain technology to enable instant
settlement of bond ?transactions, three sources with direct knowledge of the
matter said ?on Monday. The notes, to be issued for the first time by
state-owned power financier ?REC, would place India alongside markets such as
Europe and Hong Kong in using the technology for issuance and settlement. Tokenised
bonds are securities whose ownership, issuance, trading and settlement are
recorded digitally on a blockchain or distributed ledger, allowing transactions
to be completed almost instantly.
(Business Standard)
UNEARNED INCOME
·
The
term unearned income refers to any income that is not acquired through work.
Put simply, unearned income is any money you earn by doing nothing. This is in
contrast to earned income, which is any compensation received for performing a
service like work.
·
There
are many types of unearned or passive income, including interest from savings
accounts, bond interest, alimony, and dividends from stocks.
·
Unearned
income, which can serve as a supplement to earned income before retirement, is
often the only source of income in post-retirement years.
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 : 95.7258
INR
/ 1 GBP : 130.5776
INR
/ 1 EUR : 111.7752
INR
/100 JPY: 60.2200
EQUITY INDEX
Sensex:
77369.11 (-171.72)
NIFTY:
24219.05 (-32.95)
Bnk NIFTY: 57525.95 (-236.00)
Historic events: August 25 marks
several key milestones in Indian and world history, ranging from military
reforms to tragic events and scientific losses. In India, August 25, 1917,
marked an early step toward the Indianization of the military when seven native
officers were first granted the King's Commission in the British Indian Army,
while a darker day came in 2003 with the twin bomb blasts in Mumbai near the
Gateway of India that claimed over 50 lives.
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