The rupee has recovered marginally from initial losses but is still down 43 paise at 55.40 a dollar on persistent demand for the American currency from banks and importers today.

Rupee recovers marginally, at 55.40/dollar

Press Trust of India

Rupee falls to 55.45/46 from its previous close of 54.94/95, tracking weaker risk currencies after monetary easing from China, the euro zone and Britain signalled a growing level of alarm about the global economy.

Rupee falls to 55.46 on global risk, US jobs eyed

Reuters 

Standard Chartered upgrades its short-term rating for the rupee to &quot;neutral&quot; from &quot;underweight&quot;, and revises its end-September forecast to 56 from previous forecast of 57.50, adding the cross has &quot;likely&quot; hit the high for the year.

StanChart upgrades short-term rating for rupee

Weaker global risk assets sent the rupee lower for a third straight session on Friday, sparking an unexpected intervention from the RBI that prevented the currency from posting its biggest loss in two weeks.

Rupee drops, sparking surprise RBI intervention

The rupee fell against the dollar for a third session, tracking weakness in the euro and in Asian currencies. Economists said domestic policy action was key to a revival.

Re down again on global cues

Business Standard

Indian companies raised $3.37 billion (Rs 18,630 crore) through external commercial borrowing (ECB) in May, to fund modernisation, foreign acquisitions, import of capital goods and onward lending.

India Inc raised $3.3 bn via ECB in May

Expanding its area of operations beyond financing to micro, small and medium enterprises (MSMEs) in the country, Small Industries Development Bank of India (SIDBI) is now looking at factoring services or receivable management for MSMEs in India.

SIDBI to assist MSMEs through factoring service

Bankers have asked for revaluation of the Kingfisher Airlines brand, pledged with them by the airline&rsquo;s promoters in 2010. The airline brand is registered separately from the UB Group&rsquo;s beer and wine brands and was pledged with a consortium of banks to raise Rs 2,000 crore in debt. The brand&rsquo;s worth was included in the balance sheet, boosting the airline&rsquo;s valuation.

Banks want revaluation of Kingfisher Airlines brand

Union Bank of India would install 100 &lsquo;talking&rsquo; automated teller machines (ATMs) this financial year to enable the visually challenged to carry out ATM transactions.

Union Bank to set up 100 'talking' ATMs

The Philippine peso led gains in Asian currencies this week on optimism central banks in the world's biggest economies will boost efforts to arrest a global slump.

Peso leads gains in Asian currencies on global easing

UK government bonds rose, snapping a four-week decline, as the Bank of England voted to expand its asset-purchase program by &pound;50 billion ($77.6 billion) to help contain borrowing costs.

Gilts gain first time in 5 weeks as BoE boosts purchases

Barclays Plc was sued by an investor who claimed her futures-trading business was harmed by the bank's admitted manipulation of the Euro Interbank Offered Rate.

Barclays sued over alleged Euribor actions

After losing most of the initial gains in last few trading sessions, the rupee is likely to trade in the 54.50-55.30 range this week due to renewed risk aversion globally after more stimuli by three leading central banks last week, according to experts.

Rupee may be in 54.50-55.30 range this week: experts

The yields on government bonds are expected to move up, as markets do not expect any open market operations (OMOs) from the Reserve Bank of India (RBI) this week. Traders said improvement in liquidity conditions might keep the central bank from undertaking bond purchases through OMOs.

Bond yields seen up in absence of open market ops

Top bankers of the country will meet Reserve Bank of India officials on Monday, ahead of the first-quarter review of the monetary policy scheduled on July 31.&nbsp;The pre-policy discussions will take place amid the central bank&rsquo;s hawkish stance on inflation, which dimmed hopes of a policy rate cut and improved liquidity ruling out reduction in the cash reserve ratio.

RBI to meet bankers today

After a flip-flop over instructions to public sector banks regarding the cap on corporate bulk deposits, the finance ministry has finally asked them to cap these at 10 per cent of total deposits for the current financial year. From the next financial year, the cap would be increased to 15 per cent, but it would comprise certificates of deposit (CDs) too.

Public sector banks told to cap bulk deposits at 10%

Corporate debt restructuring (CDR), which has already seen a five-fold jump in the first quarter of the financial year, is set to break new records, as the Centre is planning to recommend Rs 2 lakh crore debt of state power utilities to the debt restructuring cell.

Discom debt rejig plan worries banks

It was big news when the Barclays chairman, Marcus Agius, resigned Monday over his bank&rsquo;s role in the Libor rate-fixing scandal. Less noticed was his other resignation that same day.

Trade group for bankers regulates a key rate

India Inc&rsquo;s excess cash, which used to fetch double-digit returns if deposited in banks until recently, is finding very few takers &mdash; thanks to a significant improvement in the liquidity situation.

India Inc's deposits lose out amid better liquidity

MARKET EYE - USD/INR likely to extend gains for a fourth straight session tracking risk aversion on tepid U.S.

Rupee likely to rise for 4th day on risk aversion

Rupee likely to fall for 4th day on risk aversion

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