Three things to know for Teji Mandi investors
SC to continue AGR hearing:
Telecom companies such as Bharti Airtel, Vodafone Idea, Reliance Communications will be in focus as Supreme Court will continue the hearing on AGR case on Monday.
SC, in its hearing on August 14, had directed telcos under insolvency to submit details of spectrum sharing agreements that they have entered into.
RBI approves Rs 57,128 crore dividend to government:
The Reserve Bank of India (RBI) central board has approved the transfer of Rs 57,128 crore in surplus as dividend to the government for the accounting year 2019-20. The Board also decided to maintain the Contingency Risk Buffer at 5.5%.
Last year the RBI’s board approved a record payment of Rs 1.76 trillion to the government, which included ₹1.23 trillion as dividend and Rs 52,640 crore from its surplus capital.
The government may not need to infuse fresh capital in PSU banks this fiscal
The RBI under one-time loan restructuring has reduced additional fund requirements by PSU Banks. It is likely to ease the fresh capital requirement for them. As a result, the government may not have to inject fresh capital into the PSBs.
One time restructuring will keep the non-performing assets (NPAs) in control after the six months moratorium comes to an end in August. It will also reduce the provisioning requirement for the debt recast accounts.
