Anjali Kumari

Unions will strike from September 28 to 30 after talks failed to resolve their demand for a five-day banking week; an indefinite strike is planned from October 26

The rupee settled at 95.59 per dollar as falling crude prices and likely dollar sales by state-run banks supported the currency; the 10-year bond yield fell 4 bps

The central bank says subsequent novation after an OTC derivative contract has been accepted for settlement by a central counterparty will follow the revised directions

The increase in currency in circulation and the rise in reserve requirements as the deposit base expands could absorb a part of the surplus over the coming months

Public sector banks have issued advisories asking customers to complete important transactions in advance and use digital channels during the September 28-30 strike.

High exposure to repo-linked RAM loans could help public sector banks reprice assets faster than deposits if the RBI raises rates

The finance ministry will meet chiefs of PSBs, RRBs, IBA and Nabard to review contingency plans ahead of the three-day nationwide bank strike from September 28

Rise due to hedging costs on interest, not absorbed by RBI

Economists expect the central bank to use OMO sales, sell-buy swaps and other liquidity-management tools to gradually absorb the durable surplus

Gold reserves, by contrast, declined by $2.59 billion to $113.81 billion during the week as gold prices fell 0.56 per cent to $4,429 an ounce

10-year bond yield hits 7% after three months

Central bank will conduct a 26-day VRRR auction on Friday to absorb surplus banking-system liquidity; funds placed in the auction will be reversed on October 7

Regulator is working on multiple products leading to a guaranteed offering; guidelines for innovative bonds and the Swasthya scheme are expected in the coming days

The Basel III-compliant perpetual bonds will have a call option after five years, while the coupon rate is expected to be in the range of 7.85-7.90 per cent

L&T raised Rs 500 crore and IIFL Finance Rs 25 crore through tokenised bonds, following REC's debut issue as issuers test the new blockchain-based settlement framework

The rupee touched a low of 95.23 against the dollar before settling at 95.11 as Brent crude topped $100 a barrel; dealers cited RBI intervention in spot and swap markets

Rupee settles at 94.83 per dollar against 94.49 previously as rising crude oil prices, importer hedging and persistent risk-off sentiment boost dollar demand

Bids worth ₹2.59 trn received against ₹7 trn notified

In talks with finance ministry; access to derivatives is key

Fx reserves swell to nearly $741 bn, driven by rush of swap dollars