The recent rating downgrade of Reliance Home Finance has cast fresh doubt on the NBFC segment
The rupee on Monday weakened to close at 69.40 a dollar, from its previous close of 69.22
SC reprimanded RBI on Friday for not disclosing information sought under the RTI citing 'fiduciary relationship' with banks
Currency dealers say the central bank has the scope to do another $5 billion swap, considering that banks have extra dollar holding
Banks have reason to be circumspect about prospects of recovering money
The RBI governor advocated a 25 basis points cut, showed minutes of the MPC
Asked about structural reforms in India in the past few years, the RBI governor listed the implementation of the GST and the IBC, among others.
The growth-focused governor, under whose chairmanship the MPC executed two back to back rate cuts of 25 basis points each since February, said India needs to grow at 8% to eliminate poverty
Das was speaking at the IMF's 'Governor Talks' programme at the International Monetary Fund-World Bank Spring Meetings
Supports govt and Reserve Bank's plans for gradually opening up the economy to foreign investors
The concern is how China is expanding its global footprint, often entangling resource-rich but poor nations, by multi-million dollar loans that can be never repaid
Deputy Governor Viral Acharya and external member Chetan Ghate voted against a rate cut, while Ravindra Dholakia favoured a change in stance to "accommodative"
Respondents perceived an improvement in the price situation during the past one year and also expected improvement in the next one year
In January this year, Bandhan Bank announced its merger with Gruh Finance, which will reduce the promoters' stake to about 61 per cent from close to 82.3 per cent
Experts say it is about time RBI lift the ban on such derivatives but there aren't enough natural safeguards if the deals are misused by writers and marketers of the contractors
The idea behind the swaps is to infuse rupee liquidity by buying dollars
The move will also allow states to buy back bonds and issue a new lot with lower coupon
Not only do the bonds increase the balance sheet size of the central bank by infusing permanent liquidity into the system, the central bank runs the risk of stoking inflation in medium to long term
He also called for a 'permanent status to finance commissions' where the old commission continues to implement schemes till the next commission starts functioning
RBI's proposal to swap $5 billion with banks is also viewed positively by the market