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RBI paper suggests caps on NBFCs IPO, real estate financing, tighter regulations

RBI paper suggests caps on NBFCs IPO, real estate financing, tighter regulations

Finance
Mumbai: A Reserve Bank of India (RBI) discussion paper on a new regulatory framework for non banking finance companies (NBFCs) has proposed a cap on lending by NBFCs to subscriptions in initial public offerings (IPOs) and in lending to real estate unless government approvals are obtained. The new norms which were put in the public domain for discussion on Friday, said the internal ceiling on sensitive sectors for NBFCs should separately disclose capital market and commercial real estate exposures. IPO financing by NBFCs, a large business for some of these companies has come under close scrutiny, as while there is a limit of Ra 10 lakh for banks financing IPOs, there is no such limit for NBFCs. "Taking in to account the unique business model of NBFCs, it is proposed to fix a ceiling of Rs ...
Monetary policy transmission of PSU banks stronger than private lenders: RBI paper

Monetary policy transmission of PSU banks stronger than private lenders: RBI paper

Finance
Mumbai: The monetary policy transmission of state-owned banks in the short-run is stronger than their counterparts in the private sector, and can be improved further with capital infusion, said a RBI working paper. The credit channel of monetary policy transmission is robust in India and its efficacy can be reinforced by better capital position of banks, said the working paper on 'Asset Quality and Credit Channel of Monetary Policy Transmission in India: Some Evidence from Bank-level Data'. "Controlling for asset quality, in the short-run, the credit channel of monetary transmission of public sector banks is stronger relative to that of private sector banks," it said. The Reserve Bank of India said the views expressed in the paper are those of the authors and not of the central bank. Ac...
Older, more anxious people likely to stockpile toilet paper during pandemic

Older, more anxious people likely to stockpile toilet paper during pandemic

Health
June 12 (UPI) -- People who stockpiled toilet paper as the COVID-19 pandemic reached U.S. shores in March likely felt more threatened by the virus and emphasize preparedness in other facets of their lives, according to a study published Friday by the journal PLOS ONE. Using the Brief HEXACO Inventory, which ranks six broad personality traits, people who tend to worry more and feel anxious -- characteristics that fall under the category of "emotionality" -- were more likely to stockpile supplies like toilet paper, the researchers found. Advertisement Similarly, those with personalities high in "conscientiousness" -- which includes traits like organization, diligence, perfectionism and prudence -- also were more likely to hoard the product, they said. "The perceived threat by COVID-19 was a...
Paper stimulus checks could be delayed by up to 5 months

Paper stimulus checks could be delayed by up to 5 months

Finance
A customer pays with cash at a Best Buy store in Texas, United States, on November 26, 2010.Aaron M. Sprecher | Bloomberg | Getty ImagesIf you're counting the days until you receive your stimulus money from the government, hold tight: It could take up to five months.A House Ways and Means Committee memo obtained by NBC News on Thursday outlined a potential timeline for how soon the money could go out.For individuals who receive the funds via direct deposit, that money will start moving to them as soon as the week of April 13, according to the memo.But for Americans who get paper checks by mail, the wait could be a lot longer – up to five months.The timeline is the latest development on the stimulus relief checks that were greenlighted by Congress last week. The money will amount to sums of...
NASA’s InSight lander mission yields first scientific paper on Marsquakes

NASA’s InSight lander mission yields first scientific paper on Marsquakes

Science
Feb. 24 (UPI) -- Researchers have published the first scientific papers that rely on data collected by NASA's InSight lander, which touched down on Mars just over a year ago. Observations made by the lander's super-sensitive seismometer, the Seismic Experiment for Interior Structure, have allowed scientists to gain new insights into the structure of the Red Planet's interior. In September 2019, InSight's seismometer recorded 174 seismic events. Since then, SEIS has recorded a total of 450 Marsquakes, an average of nearly two a day in recent months, but they have not yet been formally analyzed by scientists. According to the new research, published Monday in the journal Nature, the quakes take two forms. One type of Marsquake features low-​frequency seismic waves and register magnitudes ...