Page 32 - Rbi Policy

Rupee appreciates 12 paise to 83.17 against US dollar in early trade

The rupee appreciated by 12 paise to 83.17 against the US dollar on Friday, tracking a bullish trend in domestic equities, wherein benchmark indices scaled new peaks. Forex traders attributed the rally to Rs 2.11 lakh crore record dividend by the RBI to the government for the fiscal ended March 31. It was more than double the budgeted expectation, helping shore up revenue ahead of a new government taking office. At the interbank foreign exchange market, the local unit opened at 83.26 and gained further ground to trade at 83.17 against the greenback, registering a gain of 12 paise from its previous closing level. The forex market was closed on Thursday on account of 'Buddha Purnima'. On Wednesday, the rupee appreciated by 2 paise to settle at 83.29 against the US dollar. After a trading holiday on Thursday, the Indian rupee was on a strong footing following a big transfer of Rs 2.11 lakh crore in the form of dividend from the Reserve Bank of India (RBI) to the Union government, whi

Net FDI declines by 62% to $10.5 billion in FY24, shows RBI data

Lowest in over a decade; Gross FDI stable at $71 bn

Reserve Bank board approves transfer of Rs 2.11 trillion surplus to govt

The expert committee had suggested maintaining the risk provisioning within a range of 5.5 per cent to 6.5 per cent of the RBI's balance sheet under the Contingent Risk Buffer

Govt likely to cut bond sales aided by higher cash balance: Officials

The yield on benchmark 10-year bond was little changed at 7.09 per cent on Tuesday

Short-term govt bond yield may fall on Rs 60,000 crore T-bill supply cut

The yield on the 5-year government bond settled at 7.09 per cent on Friday

Global funds eye India's maturity bonds betting on RBI's policy shift

The proportion of foreign money allocated to local bonds due in 10 years or more climbed to 17 per cent last week, up from just 11 per cent in September

No need to panic on draft infra guidelines: PNB MD & CEO Atul Kumar Goel

Goel spoke on the public sector lender's latest quarterly results and its expansion plans

Consumer price inflation likely slipped in April, food inflation sticky

V Anantha Nageswaran, the government's chief economic adviser, said on Wednesday the Indian economy was better placed than before to pursue 'non-inflationary' growth

Bond buyback signals RBI's easing stance, may switch to neutral, says Citi

While liquidity tightness was not acute in April and overnight rates had not hit the MSF ceiling, the RBI probably anticipated election-related constraints on govt spending could tighten liquidity

A case for making RBI regulations plain, simple

Plain language in communication will help customers of financial services to become aware of their rights. It will make information accessible and help the RBI's work

RBI approves appointment of Sanjeev Nautiyal as MD&CEO of Ujjivan SFB

Third CEO in five years; current CEO Davis to be relieved early

RBI allows standalone primary dealers to borrow in foreign currency

SPDs will open nostro account, a bank account with a foreign bank in the currency of the foreign country

Dollar swap option returns to India after RBI rule change for lenders

The central bank, effective Friday, expanded the range of products banks can offer to eligible corporates, which included swaptions, or an option to enter into an interest rate swap

CFA bats for enhanced climate accountability measures in RBI's draft norms

Says clarity and specificity are needed to ensure effective implementation and compliance with disclosure requirements

RBI's forex intervention eases as conditions turn favourable for rupee

India's current account will wing to a surplus in the March quarter, economists said

India's government bond outflows in April not normal, say analysts

Barclays' Kotecha eyes $20-$25 billion, with upside risks as an attractive carry, stable currency, and a positive macro backdrop and fiscal picture make Indian bonds attractive

Govt bond yields likely to dip tracking US yields on Fed rate stance

The 10-year yield was around the crucial 4.60% mark, while the two-year yield, a closer indicator of interest rate expectations was around 4.95%

UPI transactions dip marginally in April to Rs 19.64 trn; grow Y-o-Y

Fasting, IMPS and Apes transactions decline too in the month

Small finance banks to seek RBI clarification on loan book diversification

The AU SFB board will discuss future course of action soon. It says the focus is now on integrating with Fincare

Enlightened leadership needed to resolve tax distribution: Subbarao

Former RBI Governor Duvvuri Subbarao has opined that only enlightened leadership at Centre and state levels can resolve the complex north-south divide in deciding on the distribution of the tax pool among states, saying it is beyond the remit of the Finance Commission. Subbarao, who held various positions including the finance secretary of Andhra Pradesh and Union finance secretary, and wrote extensively on issues in fiscal federalism in his new book titled 'Just A Mercenary?: Notes from My Life and Career' further said that horizontal sharing of the divisible pool of taxes has always been a contentious issue but will be even more so in this round. "This (north-south divide in deciding on the distribution of the tax pool among states) is a complex political challenge beyond the remit of the Finance Commission. "Resolving it will demand enlightened leadership at central and state levels that can look beyond politics and build a consensus around an optimal way forward," he told PTI.