
RBI announces portfolios for deputy Governors: Here's who handles what
The
Reserve Bank of India
(
RBI
) on Friday officially released the updated portfolio allocation for its four deputy governors, delineating key responsibilities across departments critical to India's financial and monetary systems.
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M Rajeshwar Rao
will oversee regulatory and enforcement functions, with charge of the Department of Regulation, Enforcement Department, and Legal Department. He also heads coordination roles through the Secretary's Department, Risk Monitoring Department, and overall policy coordination.
T Rabi Sankar
has been assigned a broad spectrum of operational and technology-driven portfolios. These include the Department of Payment and Settlement Systems, Fintech Department, Foreign Exchange Department, Information Technology, and Central Security Cell. He also manages government-related accounts and external investment operations, highlighting his role in digital and cross-border financial management.
Swaminathan Janakiraman
focuses on supervisory and consumer-centric functions, leading the Department of Supervision, Consumer Education and Protection Department, and Deposit Insurance and Credit Guarantee Corporation. His portfolio also covers Financial Inclusion, Inspection, Rajbhasha, and Premises Departments.
Poonam Gupta
, the newest entrant, will take charge of
macroeconomic policy
and communication. She heads key analytical and strategic wings, including the
Monetary Policy
Department, Department of Economic and Policy Research, Financial Stability Department, and International Department, along with overseeing the Department of Communication and Corporate Strategy and Budget.
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This strategic division of responsibilities aims to enhance the RBI's efficiency in navigating the dynamic challenges of financial regulation, technological innovation, and macroeconomic stability.
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Time of India
an hour ago
- Time of India
Steep Rate Cut Set to Provide NBFCs a Healing Touch
Live Events The Reserve Bank of India 's deepest interest rate cut in five years is expected to boost the performance of non-banking finance companies ( NBFCs ), as their margins will expand with a fall in funding cost and a slower repricing of their loans compared with banks, say RBI's easier stance on unsecured loans and a reduction in risk weights will make it easier for banks to lend to NBFCs, which had struggled for funds after the central bank hiked risk weights in increased liquidity should help the sector to step up its own lending non-bank lenders have diversified funding sources, bank loans still account for about 65% of their reduction in rates or easier liquidity conditions provide them a direct the opportunity, investors poured money into NBFC stocks Monday, with companies such as Capri Global (up 20%), Five Star Finance (up 10%) and JM Financial up (9%) posting strong lending to NBFCs has slowed outstanding loans to the sector fell Rs 25,512 crore in March 2025 from a month before to close fiscal 2025 at Rs 16.1 lakh crore. For FY25, bank lending to NBFCs rose 5.7%, almost half the 11% credit growth recorded by the banking sector . In FY24, lending to NBFCs had grown 16%.Analysts said the numbers will improve this fiscal RBI on Friday cut the repo rate by half a percentage point, taking the reduction in its policy rate this calendar year to 1 percentage point. Banks, which are being nudged by the RBI for a quick transmission of its easy policy, will be faster in cutting rates than NBFCs, said analysts.'NBFCs offer fixed rate loans which are repriced according to their internal benchmark rates. Competitive pressures notwithstanding, NBFC margins will hold up better compared to banks,' said AM Kathik, co-group head, financial sector ratings, at ratings firm ICRA. 'Rate benefit for NBFCs will trickle down in the next six months.'An expected reduction in banks' marginal cost of funds-based lending rate (MCLR) will provide about a 30-basis-point (0.3-percentage-point) benefit to NBFCs by December, he Global Securities analysts Avinash Singh and Kishan Rungta said the overall actions and messaging from the RBI are supportive of NBFCs and signal that the regulator is satisfied with the system's stability and supports their growth.'With the cost of funding coming down and stress easing in a few segments, NBFCs are set for risk-calibrated profitable growth. (While) the first quarter will be mainly lacklustre, (the) focus (will be) on growth from the second quarter,' they said in a note to clients. 'We expect the recent sharp rate cut to support NBFC margins starting from Q1FY26, with more meaningful gains likely to accrue in H2FY26 and FY27.'Emkay expects NBFC performance to improve this fiscal from last year, when operations were disrupted also by heatwave conditions and elections in the first said lending to NBFCs should pick up depending on demand from the sector, with banks having strengthened their underwriting standards.'Except the microfinance sector, which needs some fine tuning, NBFCs are well placed, particularly the higher rated ones. Yes, there was some caution on the sector, but now with the situation improving, we think that that is one sector where lending could pick up,' said Bank of Baroda executive director Sanjay Mudaliar. 'Underwriting standards have been tightened and banks like us are looking for higher credit score loans even while purchasing loans from NBFCs,' he February, RBI governor Sanjay Malhotra reduced the risk weight for bank loans to NBFCs, halving the capital to be assigned for AAA-rated NBFCs to 20% from 45%, bringing down the cost of capital. The move, along with Friday's rate cut, could mean NBFCs can now double down on loans from banks.


Mint
an hour ago
- Mint
Stocks to trade on 10 June: Recommended by Trade Brains Portal
India's benchmark indices largely traded in the green on Monday, with the Nifty 50 opening above the 25,000 level, following Reserve Bank of India's decision to cut the repo rate by 50 basis points to 5.50% and revise its policy stance to neutral on Friday. The optimism was reflected in the BSE Sensex, which opened at 82,574.55, surged to 82,669, and closed at 82,445.21, up 256.22 points, or 0.31%. The Nifty Bank index was above the 57,000 mark and reached its all-time high of 57,049.5 and closed at 56,839.60, up 261 points or 0.46%. We recommend two Mahindra Group stocks to trade today (10 June)—one from the automobile sector and the other from financial service. Mahindra & Mahindra Ltd Current price: ₹3,085 Target price: ₹3,550 in 12 months Stop-loss: ₹2,853 Established in 1945, Mahindra & Mahindra is the most diversified automobile company in India. In addition to two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, tractors, and earthmovers, the group is present in over 20 industries, including financial services, auto components, information technology (IT), and other industries. M&M holds a 22.55% revenue market share in the SUV segment, and is the market leader in the tractor segment with a 43.3% market share. Its footprint is spread across more than 100 countries, with 69 manufacturing facilities. Mahindra & Mahindra holds a strong position in its scalable growth gems category of business and targets a valuation of $2-3 billion in each of its segments (logistics, hospitality, real estate, last-mile mobility, trucks and buses, etc.). In its emerging growth gems category of business, the company targets $1 billion in each of the segments (aerostructure, cars, etc). M&M continues to hold the second position in India's SUV market by volume with a 20% growth. In the electric SUV and electric passenger vehicle segments, it holds the No. 1 position. It's also second in the country's farm equipment market, with a compound annual revenue growth of 9.3% in FY25. Mahindra & Mahindra is planning for a capacity expansion for its Thar vehicle—from 9,500 units to 11,000 per month, and for its 3XO model from 9,500 to 11,000, apart from creating new platform capacity at its Chakan plant for 120,000 units per annum. The company is also planning for a greenfield plant for a new set of products from FY28. In May 2025, its overall auto sales stood at 84,110 vehicles, a growth of 17%, including exports. In the utility vehicles segment, Mahindra sold 52,431 vehicles in the domestic market, a growth of 21%, and 54,819 vehicles overall, including exports. Domestic sales of commercial vehicles stood at 21,392 units. Risk factor India's automotive industry is highly competitive with both domestic and international players, which can lead to pricing pressures and affect profit margins. Besides, the automotive industry is cyclical, which poses additional challenges as demand for vehicles, particularly in the commercial segment, is closely tied to economic conditions. Mahindra & Mahindra Financial Services Ltd Current price: ₹284 Target price: ₹315 in 12 months Stop-loss: ₹268 Founded in 1991, Mahindra & Mahindra Financial Services is one of India's leading non-banking financial companies (NBFCs) catering to a diverse customer base, including rural and semi-urban areas. Its assets under management (AUM) stands at $14.1 billion, with a presence spanning 516,000 villages and 8,000 towns across 27 states and seven Union Territories. Mahindra & Mahindra Financial Services partners with more than 6,000 dealers and 10 original equipment manufacturers, serving 11 million customers nationwide. The company's diversified financial products include vehicle loans, financing for small and medium enterprises (SMEs), personal loans, insurance broking, housing finance, fixed deposits, and mutual fund schemes. In FY25, its AUM increased 3.6% to ₹60,741 crore from ₹58,647 crore in FY24. Total income grew 16% year-on-year to ₹18,530 crore, and profit after tax rose 16% to ₹2,261 crore. The company's loan book recorded a growth of 17% on-year, reaching ₹1,16,214 crore. Cash and cash equivalents were at ₹1,830 crore, doubling in a year. Its loans and advances surged to ₹1,23,514 crore, a 16% increase from a year earlier. Long-term provisions remained stable, reflecting a good sign of recovery. Additionally, Mahindra & Mahindra Financial Services has maintained stable asset quality with credit cost standing at 1.3%, net interest margin at 6.5%, and gross stage 3 (GS3) at 3.7%. The company continues its efforts to target resilient customers, streamline its underwriting processes, and enhance collection efficiencies through analytics-driven bounce prediction, efficient stockyard management, etc. On the diversification front, the company's SME segment recorded a 48% growth in disbursement in FY25, holding a 5% share in overall disbursement. Tractors exhibited one of the strongest performances, increasing 3%, followed by passenger vehicles, which rose 8%, holding 10% and 41%, respectively, in overall disbursement. Risk factor Potential defaults and an increase in non-performing assets, particularly in rural lending segments, present a credit risk to M&M Financial Services. Although the company has a robust structure for managing liquidity, it remains susceptible to liquidity issues due to its reliance on multiple funding sources, particularly during volatile market conditions. Market recap: 9 June The Nifty 50 had a gap-up opening at 25,160, which was also the day's high, and traded on a flatter note throughout the day. The Nifty index closed above all four 20/50/100/200 EMAs, at 25,103.20, up by 100 points or 0.4%, and had an RSI of 49 in the daily time frame. Among the top sectoral performers, the Nifty Smallcap 50 index led the gains with 166.8 points or a 1.87% increase, closing at 9,108.15. Five-Star Business Finance, which rallied 10%, was the top small-cap gainer following RBI's rate cut. IIFL Finance surged 8%, and Multi Commodity Exchange of India gained 7.25%. The Nifty PSU Bank index followed the lead with a gain of 108.15 points or 1.52%, closing at 7,208.45, with Bank of India, Bank of Maharashtra, and Indian Bank gaining up to 4%. Nifty Next 50 index also gained, closing at 68,843, up 850.65 points or 1.25%, with Hyundai Motor, Intergloble Aviation, Cholamandalam Investment, and PFC surging up to 4%. On the sectoral front, the Nifty Realty index was the only gauge in the red, closing at 1,038, down 1.45 points or -0.14%, with profit bookings seen in Brigade Enterprises, Sobha, Prestige Estates, and Macrotech. Asian markets were also trading on an optimistic tone and opened higher on Monday as the US and China resumed trade negotiations, with China reportedly granting approvals for the export of rare earths and the US's Boeing beginning commercial jet deliveries to China. Among the Asia-Pacific markets, Hong Kong's Hang Seng index gained the most with a surge of 1.63% or 388.89 points, closing at 24,181.43, followed by South Korea's Kospi index, which climbed 1.55%. The Shanghai index was up by 0.43%, and Japan's Nikkei at 225, gaining 0.92%. Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.


Economic Times
an hour ago
- Economic Times
Retail investors shift focus to high-yield corporate bonds for better returns
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Mumbai: Retail investors on the lookout for higher returns from their fixed-income portfolios are turning towards high-yielding corporate bonds. This has gathered pace after the Reserve Bank of India (RBI) cut repo rates by as much as a percentage point since February, which is forcing bank deposit rates are eyeing state-guaranteed papers, NBFC bonds and small finance and microfinance bonds , which give higher returns than bank deposits. These bonds are available through many retail websites where investors can buy them for as little as ₹10,000. These are Online Bond Platform providers (OBPP), SEBI registered platforms that facilitate buying and selling bonds are using platforms like Indiabonds, Bondbazaar, Grip Invest and Wint Wealth among others to buy these bonds, with volumes growing on these platforms. Traded volumes on one of the platforms doubled this ongoing quarter compared with July-September 2024 quarter. At another, there is 10-fold growth in signups now compared with a year earlier."Direct investments in bonds can typically offer an additional return of 3-5 percentage points over traditional fixed deposits," said Bondbazaar founder Suresh Darak. While a fixed deposit from State Bank of India can offer a maximum of 6.7% for a deposit with a tenure of 2-3 years, state-guaranteed bonds from Telangana, Uttar Pradesh, Kerala and Andhra Pradesh with a tenure of 2-4 years could offer yields of 9-10%.In addition, some NBFCs and MFI bonds rated AA or lower are available from Muthoot Capital , MAS Financial, Edelweiss Financial and could potentially offer 10-12% managers believe investors should build a portfolio of these bonds, rather than putting all their money in a single bond, and opt for shorter tenures of 2-3 years."Investors may consider two-, three-year bonds, which balance yield potential with visibility on credit risk and interest rate movements," said cofounder Vishal Goenka. He believes the risk-free curve has steepened at the short to medium end with maturity of 2-3 years, making this segment attractive for those looking for better risk-adjusted returns without committing to long tenures."Diversify across issuers, tenures and ratings. Do not invest more than 10% in a single issuer, investing across one to three years helps manage reinvestment and interest rate risk and diversification ensures a risk-adjusted fixed-income portfolio," said Darak of managers advise investors to keep a track of the financials of the company and the management's track record while buying high-yielding bonds, given that they carry higher risk. Investors should spread their risk by buying a small quantity of these bonds, they said.