RBI may use more forex reserves to support rupee

RBI may use more forex reserves to support rupee

The Reserve Bank of India’s project to shore up foreign currency reserves would be hampered by as foreign portfolio investors offload their investments in the Indian capital markets in the hunt of better returns from US bonds, pushing the central bank to sell dollars to ease currency volatility, experts said. Excluding the $1.9 billion lumpy … Read more

India commercial paper rates may rise further as liquidity dries up: Analysts

India commercial paper rates may rise further as liquidity dries up: Analysts

Indian companies may have to spend more to raise short-term funds via commercial papers as liquidity tightens further and government borrowings of similar tenure increase, analysts said. Short-term rates, which have been edging higher since the Reserve Bank of India started raising rates last year, have already hit their highest level in over four years … Read more

India’s exports may see tepid growth in 2023: Govt

India’s exports may see tepid growth in 2023: Govt

India‘s exports may see tepid growth this year as the country’s major export markets are forecast to decline sharply in 2023, the government said. Growth of global trade fell in 2022, “and is expected to be still lower in 2023 with a further decline in volume and value of trade on the back of slowing … Read more

Reserve Bank of India says no foreign investment cap on sovereign green bonds

Reserve Bank of India says no foreign investment cap on sovereign green bonds

The sovereign green bonds issued by the Indian government will not have any restrictions on foreign investment, the Reserve Bank of India said on Monday. Such securities will be counted as specified securities under the fully accessible route, the central bank said in a notification The RBI had earlier this month announced an auction of … Read more

Sebi proposes separating brokers from investors’ money

Sebi proposes separating brokers from investors’ money

India’s capital market regulator has proposed discontinuing the current practice of an advance transfer of funds to stockbrokers before secondary market trades are executed. Such a move will prevent misuse of client funds, brokers’ defaults and the consequent risk to investors’ capital, the regulator said in a discussion paper to seek views before it finalises … Read more

Indian companies likely to raise funds via public issues in 2023 as cash tightens: Bankers

Indian companies likely to raise funds via public issues in 2023 as cash tightens: Bankers

Fundraising through public issues could see an uptick in 2023 as retail investors bet on attractive interest rates and companies look to diversify their funding portfolio under tightening liquidity conditions, bankers and analysts said. Indian companies raised around 5.38 trillion rupees ($64.95 billion) through private placements in 2022, largely aided by the banking system’s massive … Read more

Parliament proceedings | Banks write off loans worth ₹11.17 lakh crore in last six years

Parliament proceedings | Banks write off loans worth ₹11.17 lakh crore in last six years

“Banks have written off ₹11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22,” Parliament was informed on December 20. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the … Read more

November inflation print provides impetus to end rate hike cycle: SBI economists

November inflation print provides impetus to end rate hike cycle: SBI economists

The November inflation print of 5.88 per cent provides impetus to end the rate hike cycle, economists at the country’s largest lender SBI said on Monday. This came hours after official data showed that consumer price index (CPI) based inflation cooled to 5.88 per cent in November, the first time that it has come within … Read more

SBI Chairman Dinesh Khara says digital rupee a game changer

SBI Chairman Dinesh Khara says digital rupee a game changer

Reserve Bank’s first pilot project for retail digital rupee is a “game changer” with durable effects that should ensure better monetary transmission at much lesser costs, SBI Chairman Dinesh Khara said on Friday. The central bank started the pilot project for retail digital rupee (e₹-R) in Mumbai, New Delhi, Bengaluru and Bhubaneswar on Thursday and … Read more

RBI may lower FY23 GDP growth forecast

RBI may lower FY23 GDP growth forecast

A global economic slowdown and its impact on exports from India could lead to a reassessment of growth for this financial year (FY23) by Reserve Bank of India (RBI). A three-day meeting of the central bank’s monetary policy committee is scheduled for December 5-7. Besides its rate move, the meeting will be closely watched for … Read more