Fresh selling of the US currency by banks and exporters amid a higher opening of the domestic equity market helped the rupee
Bankers and economists agree rates will soften, though the quantum would depend on banks' asset-liability profile
Repo rate reduced by 25 bps to 6.5%, lowest since 2011; minimum daily CRR limit lowered to 90% from 95%; repo, reverse repo corridor narrowed to 50 bps
Interview with Governor, Reserve Bank of India
Says only worry is inflation projections look a little optimistic, even factoring in a late and staggered phase-in of the 7th Pay Commission award
Transmissions of rate cuts by banks is the biggest challenge
This policy has also brought down the differential between the repo and marginal standing facility rates
Rajan says RBI underestimated excess cash in the system due to elections
CEOs say the RBI could have been bolder given that inflation was within target
Says having foreign accounts is not an offence per se
Believes there will be limited rate cuts in FY17, due to probability of fiscal slippage and risks to inflation
President of real estate association Credai, said home buyers would get at least a 50 basis point cut in home loan rates
Room for further cuts is significantly constrained
Banks should bring down their lending rates significantly
Finance Minister for State Jayant Sinha said the govt would work with RBI to amplify both fiscal initiative and monetary initiative that are now in the pipeline
To regulate peer-to-peer lending space
The regulator has already issued licences to 11 payments banks and 10 small finance banks last year
Further cut in repo rate will be good, but a few other issues need to be resolved for better results
The dollar fell 0.8% against the yen and last traded at 110.37 yen