Mumbai: Shares of gold loan companies lost sheen on Tuesday after the Reserve Bank of India (RBI) called for these companies to take corrective measures for the lapses in loan sanctioning practices in the next three months. Muthoot Finance fell 3.9% and Manappuram Finance declined 1.9% as analysts see the central bank’s action weighing on … Read more
After a brief swing to the deficit mode, liquidity in the banking system returned to a surplus this week, with analysts interpreting the Reserve Bank of India’s tolerance of extra cash with banks as a tilt towards easier policy ahead of the official interest rate statement next month. For seven days in September, the RBI … Read more
The centre will conduct bi-annual inspections to ensure companies getting subsidies under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme are complying with localisation norms. This Rs 10,900 crore flagship scheme for promoting clean mobility under the Ministry of Heavy Industries (MHI) aims to subsidise domestically made electric buses, trucks, ambulances, … Read more
Yields on the 10 year benchmark yields softened to a 30-month low to 6.82%, tracking a softening in the US bond yields due to a fall in crude oil prices yesterday. This is the lowest level since March 31st 2022, LSEG data showed. Bond yields, which ended at 6.82% were down by three basis points, … Read more
An outgoing member of the Reserve Bank of India’s interest-rate panel said there’s no evidence higher food costs are pushing up prices more broadly in the economy, a reason often cited by Governor Shaktikanta Das for keeping monetary policy tight. Jayanth Rama Varma — an academic whose four-year term as an external member on the … Read more
A gauge showing the Indian rupee’s value against its key trading partners rose to the highest in more than six years in July, even as the currency hit a new lifetime low against the dollar. The index measuring the rupee’s value against a weighted basket of the country’s 40 trading partners, adjusted for inflation, rose … Read more
India and Russia are exploring the idea of a dynamic reference rate to start a rupee-rouble market, along with allowing greater deployment of the rupee balance that has accumulated in course of trade between the two countries since outbreak of the Ukraine war. A reference or exchange rate is aimed at overcoming the dollar trade … Read more
The Reserve Bank of India (RBI) has announced a final redemption price for the first tranche of the sovereign gold bond (SGB) scheme at Rs 6,938 per gram and fixed the redemption date as August 5, Monday. Those who invested in the scheme have made an income of a whopping 122% (Rs 3,819) over the … Read more
The Reserve Bank of India (RBI) has sought to prevent potentially inflation-stoking banking system liquidity enhancement through deft currency and bond market interventions, with foreign inflows into local sovereign debt quickening after the country’s inclusion in a globally tracked JP Morgan index. With rates on annualised dollar-rupee forward premia jumping after index inclusion occurred on … Read more
Mumbai: Deposits are still the most preferred instrument of saving in India although market-based instruments are gaining share, said an article published in the Reserve Bank’s July Bulletin. The article provides estimates of quarterly financial balance sheet of households and their net financial wealth for 2011-12 to 2022-23. The article has been authored by Anupam … Read more
