BUSINESS
Core inflation may average 6.2-6.3% in FY23 despite CPI fall in November, say experts
While the headline retail inflation declined to an 11-month low of 5.88 percent in November from 6.77 percent in the previous month, core inflation continued to remain high at over 6 percent
BUSINESS
Rupee may appreciate next week on corporate inflows, easing Dollar index
Forex dealers said that gains may be limited as traders will be keenly watching the policies of major central banks as also the US inflation data.
BUSINESS
Axis Bank raises Rs 12,000 crore from 10-year Basel-III bonds at 7.88% coupon
The bank shall utilize 100% of the proceeds of the Issue for its regular business activities and to meet the demand for financing.
BUSINESS
RBI deputy governor MK Jain pitches for higher investments by banks, financial institutions in technology
Technology is revolutionising the financial services industry, and driving a paradigm shift in the delivery of banking services, said Jain
BUSINESS
RBI extends dispensation of enhanced HTM limit to March 31, 2024
Banks will now be allowed to include securities acquired between September 1, 2020 and March 31, 2024 in the enhanced HTM limit.
BUSINESS
How is e-rupee different from UPI? | Five takeaways from the RBI governor’s press conference
Since the launch of the pilot programe of the retail central bank digital currency, there has been some confusion about where the digital currency and UPI fit.
BUSINESS
Government to announce higher borrowing in next budget to spend on public works, say experts
The need to spend on public works and highlight its development objectives may prompt the government to borrow more in the next budget.
BUSINESS
Digital rupee will co-exist rather than compete with UPI: Experts
An ecosystem needs to be built for the retail adoption of the e-Rupee, like cashbacks on UPI apps, which are a great pull for the user, say experts.
BUSINESS
We expect borrowing numbers to be on the higher side in the Budget, says LIC MF's Marzban Irani
On the policy front, he expects a 35-bps hike, taking the repo rate to 6.25%. Also, beginning December, he sees the pace of rate hikes in the US slowing down.
BUSINESS
Bharti Telecom plans to raise up to Rs 4,500 cr via two bonds on December 2
Bidding for these bonds will take place on December 2 on the National Stock Exchange of India's electronic bidding platform.
BUSINESS
RBI relaxes rules for foreign branches of Indian banks to deal in financial products not permitted in India
The foreign branches/foreign subsidiaries of Indian banks/AIFIs can deal in financial products, including structured financial products, which are not available or are not permitted by the Reserve Bank in the domestic market without its prior approval
BUSINESS
India’s wholesale CBDC: How has it faring one month since launch?
The RBI introduced the pilot wholesale central bank digital currency (CBDC) on October 31, 2022. Insiders say, most traders are only testing this currency at this point in time and not taking positions. For taking positions, they are still going by the normal trading practices on the NDS-OM
BUSINESS
Robust benchmarks in financial markets a must, says RBI deputy governor T Rabi Sankar
Financial benchmarks, used as references for pricing, valuation and settlement of financial instruments, are a key driver of the price integrity of financial markets
BUSINESS
Banks to send invites to select customers for use of retail pilot CBDC: V Vaidyanathan, MD & CEO of IDFC First Bank
Under the first pilot project that starts on December 1, four banks have created a wallet in their mobile banking applications where these CBDCs will be available to select customers.
BUSINESS
Banks rush to raise funds via corporate bonds as credit demand picks up
In the past two weeks, some banks have raised more than Rs 5,000 crore through bonds of various tenures. Going forward, IDFC First Bank, Kotak Mahindra Bank, Bank of India and J&K Bank are expected to mop up funds from the market.
BUSINESS
Fundraising via unlisted bonds fell over 60% on-year in H1FY23 on low investors demand
The amount raised by way of unlisted bonds between April and September this year was Rs 20,413 crore, compared to Rs 53,176 crore over the same period last year.
BUSINESS
Rupee to trade in 79-82 range against US dollar in 2023, say experts
"(The rupee) will depreciate a bit to 83 per dollar or so in the first half of 2023, but should strengthen after that," noted Ashima Goyal, External member RBI MPC.
BUSINESS
Exclusive| CBDC settlements will ensure finality, reduce risk in the financial system, says JM Financial's Ajay Manglunia
In the long run, the use of CBDC will create an efficient and cheaper currency management system and would eventually enable real-time, cost-effective and seamless integration of cross-border payment systems, Manglunia said.
BUSINESS
India’s US Treasury Securities holding rose 4.3% on-month to $221.2 billion in August: SEBI Bulletin
Dealers expect that India will try to increase its US Treasury holdings as these notes will be attractive even after their yields ease.
BUSINESS
HDFC, IOC and four more to issue bonds today to raise Rs 9,200 crore
These firms includes Housing Development Finance Corp (HDFC), Indian Oil Corporation (IOC), Rural Electrification Corp (REC), among others.
BUSINESS
T-bill yields to remain range bound in near term: Dealers
In the previous week's auction, the cut-off yield on T-Bills eased after rising for consecutive weeks. The cut-off yield on the 91-day T-Bill fell by 4 bps, while on the 182-day and 364-day T-bills it fell by 8 and 10 bps, respectively.
BUSINESS
Spread between G-Secs and corporate bonds widens on resumption in issuance by companies
According to experts, with a few more rate hikes expected this fiscal, issuers are looking to shift some of their borrowings to NCDs to lock-in fixed coupon rates
BUSINESS
Benchmark bond yield to trade between 7.20% and 7.40% in near term: Dealers
Inflation is expected to cool as the effect of RBI’s rate increases since May, adding up to 190 basis points, begins to kick in. After the December monetary policy meeting, the bond yield direction will depend on central bank commentary .
BUSINESS
Rupee weakening may not be over yet, say experts
Respite from the US inflation print has driven gains for the rupee, but it is premature to conclude that depreciation risks have subsided, says Sakshi Gupta, economist at HDFC Bank. She noted that any unpleasant surprises on economic data could tip the scales in favour of the dollar again.
