E India CA

Professional Updates for Chartered Accountants

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What RBI norms on PPIs mean for e-wallets, users

With the Reserve Bank of India (RBI) releasing operational guidelines on interoperability of prepaid payment instruments (PPIs) on Tuesday, mobile wallet users will soon be able to transfer funds from one wallet to another. Mint analyses how the rules will impact wallet firms, users. What does interoperability of PPIs mean? Inter...

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RBI opens banking tap to ease liquidity crunch at NBFCs

The Reserve Bank of India (RBI) on Friday incentivized bank lending to non-banking financial companies (NBFCs) by easing liquidity norms and increasing the ceiling for lending to a single NBFC until 31 December. The central bank allowed banks to use government securities as level 1 high quality liquid asset (HQLA) equivalent to th...

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NBFCs brace for tighter regulation after ILFS default

RBI last week warned stricter regulations are in the offing to ward off default risks rising from the so-called asset liability mismatch The fastest pace of growth since 2013 at India’s non-bank financiers is about to come to a grinding halt. A spate of money market defaults by Infrastructure Leasing & Financial Services Ltd. ...

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Yes Bank chairman Ashok Chawla looks to restore investor confidence

Mumbai: Yes Bank chairman Ashok Chawla has written to employees asking them to go beyond their assigned roles to clarify retail investors’ doubts and build a deeper relationship with every borrower. Chawla’s letter comes after the Reserve Bank of India (RBI) cut short managing director Rana Kapoor’s term to 31 January. Stock...

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Wait! Don’t sell your debt mutual fund investments. You might get better returns next year

For some time now, returns from bond funds have been muted, particularly long duration funds. On top of it, due to incidents of the recent past, there are concerns on the credit risk aspect of debt funds. Investors are concerned about what should be done now. The advice is, unless there is a cash flow requirement, there is no urgency...

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Rupee gains against dollar as govt hikes import duties

The Indian rupee on Thursday strengthened against the US dollar after the government increased tariffs on imported goods to narrow current account deficit. At 9.15am, the rupee was trading at 72.40 a dollar, up 0.30% from its Wednesday’s close of 72.62. The home currency opened at 72.41 per dollar. The 10-year gilt yield stood at 8...

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RBI to seek changes in pension regulations

The Reserve Bank of India (RBI) is preparing a list of recommendations to be sent to the Union government seeking amendments to RBI Pension Regulations, said two people aware of the development. While RBI retirees used to receive pension in line with central government employees, the scheme was withdrawn by the government in 2008. T...

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Opinion | In Rana Kapoor, RBI has a message for banks

By denying a full three-year term to Yes Bank Ltd. Chief Executive Officer Rana Kapoor, India’s banking regulator has sent stern messages to not one or two, but five constituencies. The first wake-up call is for the CEOs themselves: To preserve their equity interest in a bank, they’re free to chase higher price-to-book multipl...