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India's central bank chief says banks too exposed to infrastructure MUMBAI: India's central bank chief said on Thursday the country's push to build infrastructure should not come at the expense of financial stability, adding banks already had too much exposure to the sector.Instead, Governor Raghuram Rajan said, India needed to find new sources of funding for infrastructure so that debt levels remained "moderate".The comments, at a financial event organised by the Reserve Bank of India that was attended by Prime Minister Narendra Modi, come as the government says it wants $1 trillion invested in infrastructure in the five years to 2017, with half of the funding coming from private companies."The nation has enormous financing needs in infrastructure, and far too many of our banks already have too much exposure," Rajan said."Big corporate infrastructure players have also taken too much debt. The required national push to finance infrastructure should not override financial stability, which is key to national security."Funding for infrastructure ...

Tax hike still keeping Japan households from spending: BOJ survey TOKYO: Nearly 60 percent of Japanese households cut spending after last year's sales tax hike and most continue to withhold consumption, a Bank of Japan survey showed, highlighting the challenges of reviving an economy struggling to edge out of recession.The survey also showed that while households saw economic conditions improve and income rise, they remained hesitant of boosting spending, underscoring the tricky balance the BOJ faces in trying to accelerate inflation without cooling consumption.Japan slipped ...
BOJ tankan shows Japan companies' inflation expectations unchanged TOKYO: Japanese companies' inflation expectations in the Bank of Japan's March tankan survey were largely unchanged from the previous survey, a sign that inflationary pressure may not be increasing as quickly as the central bank expects.The data on inflation expectations comes one day after the March tankan survey on business sentiment showed that big companies plan to cut capital expenditure in the fiscal year that began on Wednesday due to worries demand will not pick ...
RBI to leave repo rate on hold next week but cut 25 bps by end-June BENGALURU: The Reserve Bank of India will most likely leave its benchmark interest rate unchanged at 7.50 percent at next week's policy meeting, but reduce it by 25 basis points by the end of June, a Reuters poll found.Only nine of the 40 economists surveyed this week expect the RBI to cut the repo rate at the April 7 meeting, while four said it would lower banks' cash reserve ratio to boost their lending power.Median ...
China bank deposit insurance could tilt competitive landscape SHANGHAI: China's newly announced deposit insurance scheme could pressure margins at struggling state-owned banking giants, but the country's small lenders still have their work cut out to take market share from the big players.China's cabinet announced on Tuesday that a long-awaited deposit insurance scheme - covering 99.6 percent of depositors for up to 500,000 yuan ($80,700) each - would be launched on May 1.China's largest banks have long enjoyed an advantage in attracting deposits because ...
Brazil central bank to roll over currency swaps maturing in May SAO PAULO: Brazil's central bank said it would start rolling over currency swap contracts that mature on May 4 on Wednesday. The bank will offer 10,600 swaps for March 1, 2016, and October 3, 2016, according to a statement on Tuesday. The swap auction will occur between 11:30 a.m. and 11:40 a.m. Copyright Reuters, 2015 ...
EU banking supervisor calls for quick solution on Greece FRANKFURT: The head of Europe's banking supervisory authority, Daniele Nouy, called Tuesday for a rapid solution to Greece's debt problems in order to reduce the uncertainty for the banking sector.Nouy, who heads the Single Supervisory Mechanism (SSM), told a hearing before the European parliament that the Greek banks have "a much better solvency situation than in previous years."That was due to the recapitalisation and restructuring efforts on the part of the banks, she said during ...


Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
Arrow FTSE 7,070.70 0.24
Arrow DAX 11,810.85 0.74
Arrow CAC-40 5,201.45 0.44
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Arrow Sensex 27,437.94 1.07

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln