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June 4: Rupee flat, off recent low

  • June 4: Rupee flat, off recent low

    June 4: Rupee flat, off recent low

  • RBI says liquidity is in "comfort zone"

    A man walks past a logo of the Reserve Bank of India (RBI) in front of its building in Kolkata.

    Liquidity in India's banking system is in "comfort zone" as of now, a deputy governor of the RBI said on Monday, citing a recent drop in banks' daily borrowings from the Reserve Bank of India and steady overnight cash rate.

    Subir Gokarn also said the RBI has the option of buying bonds through open market operations if stress emerged on liquidity.

    Government bond yields nudged up slightly after his comments, as expectations for a reduction in the cash reserve ratio waned.

    Gokarn was speaking to reporters on the sidelines of an investor event.

  • Gold edges down, traders await more falls

    Gold bars are displayed at a gold jewellery shop in Chandigarh.

    Gold futures in India fell on Monday, after coming close to a record high in the last session, due to a firm rupee and a drop in global prices, although physical traders waited for more price falls before booking deals.

    The most-active gold for August delivery on the Multi Commodity Exchange (MCX) was 0.46% lower at Rs 29,962 per 10 grams. It touched a high of Rs 30,156 in previous session, coming close to the record of Rs 30,200 hit in early December last year, according to Reuters data.

    The rupee, which rose to its highest level in a week, plays an important role in determining the landed cost of the dollar-quoted yellow metal.

  • Aviation ministry proposes slashing jet fuel taxes

    Passengers sit in the cabin of an IndiGo Airlines aircraft as a flight attendant serves snacks after takeoff from Kolkata.

    The civil aviation ministry has proposed slashing state taxes on jet fuel, which may significantly bring down costs for ailing local airlines that are reeling under a debt load of $20 billion and annual losses of $2 billion.

    The ministry has sought opinion from stakeholders on reducing state taxes on jet fuel to a uniform 4%, according to a discussion paper posted on its website.

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