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FS Daily Bytes: 3rd Oct

India

1.       RBI opened a new branch at Dehradun to make transactions of the state government more convenient

2.       “At Rs. 2.9 trillion, the volume of debt downgrades in the first half was over 70 per cent higher than the downgrades over the same period a year ago,” Icra chief rating officer Anjan Ghosh said. “Of the total debt downgrades, almost 50 per cent are from entities belonging to the banking and the financial sector,” Ghosh added.

3.       RBIs monetary policy 2 days deliberations started today. RBI is expected to hold rate though government wants a repo cut

4.       Paper clearing at bank branches have been falling as digital on the rise. While value dropped by a 5th to 80.9 lakh crore, volume of such transactions fell from 131.3 crore to 120.5 crore (201213 to 201617)

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