Page 113 - Finance News Analysis
IOB takes the long road to recovery
After RBI initiated non-credit prompt corrective action against Indian Overseas Bank, it is getting aggressive on recovery of dues from its borrowers
 "IOB takes the long road to recovery")
Rupee weakens 16 paise against dollar
Strong demand for the dollar from importers affected the domestic currency
 "Rupee weakens 16 paise against dollar")
Forex reserves up $458 mn
Foreign currency assets rose by $452.5 mn to $329.97 bn
 "Forex reserves up $458 mn")
Rupee trims initial gains, but still higher as banks, exporters sell dollars
Hovers in the range of 64.89 to 64.77 during morning deals
The rise of rupee against other currencies
The rupee versus the dollar has emerged the fourth best performer among other major currencies of the world
 "The rise of rupee against other currencies")
Rajan preferred higher quantum of rate cut, ignored majority view of technical advisory panel
Three members suggested a reduction of 25 basis points would be a timely response avoiding falling behind the curve, signalling continuation of easy monetary policy
 "Rajan preferred higher quantum of rate cut, ignored majority view of technical advisory panel")
Small finance banks to outsource various ops to universal banks
This could be a win-win situation for both, as universal banks will earn a fee for handling some of operations of SFBs
 "Small finance banks to outsource various ops to universal banks")
Rupee turns weaker, down 7 paise vs dollar in early trade
Dollar's weakness against other currencies in global markets weighed on the rupee
Rupee declines 16 paise against dollar in early trade
A weak opening in the domestic equity market put pressure on the rupee, dealers said
Soon, your smartphone to double up as a debit, credit card
Customers can link their cards to banks' app and make payments after scanning a 'quick response' code
 "Soon, your smartphone to double up as a debit, credit card")
Rupee firms up 8 paise against dollar in early trade
Fresh selling of the US currency by exporters amid sustained foreign fund inflows helped the rupee
 "Rupee firms up 8 paise against dollar in early trade")
Forex reserves up $2.263 bn to $353.069 bn
Foreign currency assets grew by $2.222 billion to $329.517 billion in the week
 "Forex reserves up $2.263 bn to $353.069 bn")
Rupee marginally higher at 64.81
Persistent foreign capital inflows boosted the rupee sentiment
Rupee down 13 paise on strong dollar demand
The dollar was firm against major global currencies following stronger-than-expected US inflation data which dampened rupee sentiment
Rupee jumps 21 paise to end at 64.82
The domestic currency has gained 36 paise or 0.55% in two days
Rupee may stay stable in rest of FY16 on strong macros: Ind-Ra
The rating agency expects the rupee to trade in the range of 64.50-66.25 for the remainder of 2015-16
RBI expected to cut rates just once in next 18 months: poll
Economists don't expect a rate cut until the April-June 2016 quarter
 "RBI expected to cut rates just once in next 18 months: poll")
Bengaluru turns test bed for global fintech innovations
As the market in India expands, global firms are looking at the country as a business opportunity, building products that they could take it other emerging markets
 "Bengaluru turns test bed for global fintech innovations")
Rupee recovers 15 paise to end at 65.03
The domestic currency had lost 44 paise or 0.67% in the previous two days
Rupee breaches 65-mark, plunges 44 paise
The dollar index traded lower by 0.07 per cent against a basket of six currencies
 "Rupee breaches 65-mark, plunges 44 paise")
