Nifty Outlook:
The
stressed loans resolution push which the government has undertaken
through the Banking Regulation (Amendment) Ordinance 2017 will empower
the Reserve Bank of India (RBI) to directly intervene in settling bad
loan cases. While the RBI already has adequate general power under
Section 35A to give directions to banks, the amendment to the Banking
Regulation Act is being done to complement changes in the regulatory
system following the introduction of the Insolvency and Bankruptcy Code
(IBC). In the Banking Regulation Act 1949, two more Sections got added –
Section 35AA and section 35AB.
Bank Nifty Outlook:
The
Central Government may by order authorise the Reserve Bank to issue
directions to any banking company or banking companies to initiate
insolvency resolution process in respect of a default, under the
provisions of the Insolvency and Bankruptcy Code, 2016,” the gazette
notification said. Jaitley further said that the banks necessarily need
to be in a robust position to support growth. "And if the banks have an
unacceptably high level of NPAs (non-performing asset), this hinders
their capacity," he said, explaining that in order to further empower
the apex bank, the Cabinet on Wednesday decided to recommend to the
President, the issuance of an ordinance.
Nifty Trends
|
| R1 | 9380 |
| R2 | 9475 |
| S1 | 9270 |
| S2 | 9180 |
|
|
Technical Outlook:
Top Gainers
|
| IBULHSGFIN | 1,107.00 |
| ACC | 1,659.00 |
| ADANIPORTS | 344.20 |
| HCLTECH | 828.00 |
| ASIANPAINT | 1,146.00 |
Top Losers
|
| BANKBARODA | 187.50 |
| TATAMOTORS | 419.90 |
| HINDALCO | 185.60 |
| ZEEL | 505.00 |
| TATAMTRDVR | 259.00 |
No comments:
Post a Comment