RECENT NEWS & UPDATES

Lawyered Legal News powered by Incourt app

2G Scam: CBI Commences Fresh Arguments In HC In Appeal Against Acquittals

Posted under Legal, Regulatory, by Neha Sonker / 1 day ago

CBI commenced arguments afresh in the Delhi High Court on January 14 in its appeal against the acquittal of former Telecom Minister A. Raja and others in the 2G spectrum allocation scam case. However, the arguments via videoconferencing before Justice Yogesh Khanna had to be stopped after only a brief hearing due to connectivity issues.

Read more at The Hindu

Lawyered Legal News powered by Incourt app

Borrowing Costs For Firms Jump On RBI's Steps To Drain Cash

Posted under Regulatory, by Neha Sonker / 1 day ago

The Reserve Bank of India’s move to drain excess cash from the financial system may have inadvertently ruined the nation’s weaker borrowers' debt party. According to data compiled by Bloomberg, average yields on three-year rupee bonds rated BBB has risen 28 basis points this week through, on track for their biggest weekly increase since 2018.

Read more at Hindustan Times

Lawyered Legal News powered by Incourt app

Government Had No Outstanding Loans From RBI In Week To January 8

Posted under Business, Regulatory, by Neha Sonker / 1 day ago

According to the Reserve Bank of India's weekly statistical supplement released, the Indian government had no outstanding loans with the central bank under ways and means advances in the week ended Jan. 8. State governments had 54.60 billion rupees loans from the RBI in the week ended Jan. 8, compared with 55.69 billion rupees in the previous week, the release showed.

Read more at Economic Times

Lawyered Legal News powered by Incourt app

India Bond Yields Surge Most In Four Months As RBI Drains Cash

Posted under Business, Regulatory, by Neha Sonker / 1 day ago

India’s bond yields surged the most in four months after the nation’s central bank drained 2 trillion rupees from the banking system at a higher-than-expected rate. The cutoff for the 14-day reverse repurchase operation was set at 3.55%, 20 basis points higher than the Reserve Bank of India’s reverse repo rate of 3.35%, and 3.5% forecast by seven traders in a Bloomberg News survey.

Read more at Bloomberg

Lawyered Legal News powered by Incourt app

SEBI Excludes Hedging From Commodity Derivative Limit

Posted under Business, Regulatory, by Neha Sonker / 1 day ago

In a notification, SEBI excluded hedging activities by mutual funds from the limit on commodity derivatives laid down by it. In May 2019, SEBI allowed mutual funds to take exposure to ETCDs up to 30% of scheme assets in the multi-asset category and 10% in any other category. Exposure to a single commodity was also capped at 10%.

Read more at Live Mint

more