Analyst Corner: Maintain ‘buy’ with target price of Rs 360 for SBI – The Financial Express

SBIN earnings have been suppressed over past several years owing to challenges on asset quality, merger issues and adverse rate environment.Analyst Corner: Maintain ‘buy’ with target price of Rs 360 for SBISBIN earnings have been suppressed over past several years owing to challenges on asset quality, merger issues and adverse rate environment. However with bulk of asset quality cleansing behind and sharp decline in watch-list size to INR203b (1% of loans) we expect credit cost to decline sharpl...
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Metals: Reiterate ‘hold’ for Tata Steel, JSW – The Financial Express

As prospects of Chinese steel demand decline for CY19 become more and more acute, Indian steel players are rediscovering the perils of high leverage in a deep cyclical sector. Metals: Reiterate ‘hold’ for Tata Steel, JSWAs prospects of Chinese steel demand decline for CY19 become more and more acute, Indian steel players are rediscovering the perils of high leverage in a deep cyclical sector. What is also disconcerting and what we have highlighted briefly post our visit to JSW Steel plant is the...
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CD issuances surge on widening liquidity deficit – The Financial Express

The average liquidity deficit has more than tripled during the week of December 10- 14 to `84,737 crore compared with the average liquidity deficit of Rs 27,492 crore in the previous week.CD issuances surge on widening liquidity deficitWith banking system liquidity deficit remaining high — it was around Rs 1 lakh crore on Monday — there has been a rise in the issuance of certificate of deposit (CDs). On Tuesday, Axis Bank and IDFC Bank together raised `3,650 crore through CDs. The amount was sim...
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Good news on growth front: Non-food credit growth rises to 15.07% – The Financial Express

The deposit rate growth has been below 10% since over a year from August 4, 2017 owing to the high deposits on account of demonetisation, also impacting loan growth. Non-food credit growth rises 15.07%The growth in non-food bank credit rose by 15.07% year-on-year during the fortnight ended December 7 from 14.92% in the previous fortnight. The growth comes off a relative weak base; in 2017 banks were lending cautiously as they were grappling with loan losses and demand from companies was muted. D...
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LIC-IDBI Bank deal gets RBI approval – The Financial Express

The Reserve Bank of India (RBI) has given its approval to the LIC-IDBI Bank deal and the stressed bank is learnt to have received around Rs 6,000 crore from the insurance behemoth as the first instalment for the proposed acquisition of a majority stake, sources told FE.LIC-IDBI Bank deal gets RBI approvalThe Reserve Bank of India (RBI) has given its approval to the LIC-IDBI Bank deal and the stressed bank is learnt to have received around Rs 6,000 crore from the insurance behemoth as the first i...
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Essar steel exposure: RBI allowed banks reprieve on 100% provisioning in Q2 – The Financial Express

Lenders may repeat request for December quarter if the account does not get resolved in Q3 or, at least, in early JanuaryEssar Steel exposure: RBI allowed banks reprieve on 100% provisioning in Q2The Reserve Bank of India (RBI) had allowed banks a dispensation from maintaining 100% provisions against their exposures to Essar Steel in the July-September quarter, two senior bankers said. The regulatory relief had been granted on a joint request from banks, who were expecting a full resolution in t...
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Govt’s Rs 150-cr relief won’t take edge off onion farmers’ woes in Maharashtra, says APMC chief – The Financial Express

According to marketing department’s principal secretary, Anoop Kumar, the cabinet approved an ex-gratia payment of Rs 200 per quintal rate for onion sold between November 1 and December 15.Govt’s Rs 150-cr relief won’t take edge off onion farmers’ woes in MaharashtraFarmers in Maharashtra are staring at stocks of unsold summer onions at the fag end of their shelf lives. Although, the Maharashtra cabinet has approved Rs 150 crore as relief to onion farmers who had to sell their produce at low pri...
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SEBI moots sandbox policy for tech firms; what it is, how it will benefit financial markets – The Financial Express

Capital market regulator Securities and Exchange Board of India (SEBI) is planning a sandbox policy to support technology developments in financial markets. We take a closer look.We will come out with a sandbox policy. We are examining whether any changes in laws are required in terms of its dispensation, SEBI Chairman Ajay Tyagi said.Capital market regulator Securities and Exchange Board of India (SEBI) is planning a ‘sandbox policy to support technology developments in financial markets....
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SEA opposes cut in import of duty on palm oil – The Financial Express

The association has also opposed the increase in trading hours for commodities markets as recommended by Sebi.SEA opposes cut in import of duty on palm oilThe Solvent Extractors Association of India (SEA) has opposed any reduction in the duty on import of palm oil since it could be detrimental to the interests of farmers.Addressing its members, SEA president Atul Chaturvedi, said a piquant situation had happened due to the different rates being agreed by the country’s policymakers for palm oil i...
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Maharashtra mills get notice over non-payment of cane dues – The Financial Express

According to the officials, millers have paid up only Rs 360.36 crore to farmers till December 15 and the total payable FRP was to the tune of Rs 2,497.41 crore by the end of November.Maharashtra mills get notice over non-payment of cane duesAt least 15 sugar mills in the Kolhapur division of Maharashtra have been issued notices by the deputy district registrar for their failure to pay fair and remunerative price (FRP) dues to farmers for the season of 2018-19, senior officials of the Maharashtr...
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