CAMS brings you a weekly glimpse into the key news in the BFSI sector, both in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector…
In the first bi monthly monetary policy review for the 2016-17, RBI cut the key interest rate by 0.25per cent. This will help easing liquidity supply so that banks can lend to the productive sectors and indicated accommodative stance going ahead.
The Reserve Bank of India (RBI) may license more niche banks and put new lending systems in place as it seeks to widen sources of funding in the economy. RBI will explore the possibilities of licensing custodian banks and banks concentrating on whole-sale and long-term financing.
After Reserve Bank of India (RBI) gave in-principle approval to start small finance banks to 10 micro-finance firms in September, these micro-finance entities are on a hiring spree hiring spree with plans to recruit as many as 15,000 people in the next one year, particularly in semi-urban and rural areas.
An expert panel of Securities Exchange Board of India (SEBI) will meet next week to mull introduction of new products for the commodity derivatives market. The commodity advisory committee will also discuss price pooling mechanism for the spot market.
According to the recent reports , there was a surge in physical cash with public which has not been the case since 2011.It seems the amount of currency with the public had grown almost 50 per cent in financial year 2015-’16. And that too, when it had been a year marked by very low inflation. Furthermore, sectors which are known to normally soak up cash like a sponge – retail, real estate, and gems and jewellery – had shown less than buoyant growth as compared to the year before.
The equity mutual fund (MF) schemes saw the highest-ever inflow from investors at Rs 74,000 crore. This was despite the highs and lows in the capital market and benchmark indices ending the financial year with 10 per cent loss. The previous record was Rs 71,000 crore in 2014-15.The bulk of the flows into equity schemes are from retail (small) investors.
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