RBL Bank shares slump today. What brokerages say on the stock? India 

RBL Bank shares slump today. What brokerages say on the stock?

Shares of bank plunged as much as 23%, hitting a day’s low of ₹133 apiece on the BSE in Monday’s early deals after a slew of concerning developments over the weekend. RBL Bank’s Vishawvir Ahuja has stepped down as MD & CEO, and the bank has appointed Rajeev Ahuja as as the interim Managing Director and Chief Executive Officer. In a surprising turn of events, the Reserve Bank of India (RBI) has also appointed its Chief General Manager Yogesh K Dayal as an additional director on the board of RBL Bank. Brokerage house…

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Economic News 

RBI relaxes norms on foreign sovereign bond investment

By Administrator_ India Capital Sands The Reserve Bank of India has relaxed its norms on what banks can do with their excess dollars in the currency market, according to sources. The RBI had already allowed banks to invest their excess dollars in foreign currency bonds, but a rule in July 2016 had stated that a bank’s investment in unlisted securities should not be over 10 per cent of their investment in non-statutory liquidity ratio bonds or corporate bonds. Now, the foreign currency bonds, even if issued by sovereigns, are unlisted for…

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