Banking sector

Banks switch to overnight window to park surplus funds

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[ad_1] With an improvement in the credit growth, banks have been opting to park their surplus funds under the Reserve Bank of India (RBI)’s standing deposit facility (SDF), which is an overnight window, rather than 14-day variable rate reverse repo (VRRR) auctions. As the 50-basis-point (bps) hike in the cash reserve ratio (CRR) kicked in …

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Need to make Indian banks, currency important part of international trade, says PM Modi

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[ad_1] Launching a special series of coins that are ‘visually-impaired friendly’, Prime Minister Narendra Modi on Monday said it is necessary to focus on making domestic banks and currency an important part of the international supply chain and trade. Inaugurating the week-long events by the ministry of finance and corporate affairs as part of ‘Azadi …

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