co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
"Factors such as soft global commodity prices, expectations of a normal monsoon, cut in small savings rate and the government delivering on fiscal prudence in the Budget have made it the right time for the RBI to take monetary policy action and lean more towards growth," CII Director General Chandrajit Banerjee said.
Faced with sluggish economic growth and dwindling exports, Chinese apex bank on Tuesday decided to devalue its currency, following which yuan has fallen by more than 4 percent.
According to the global financial services major, the surprise element associated with the yuan's depreciation may force investors to liquidate their positions across markets.
"Everyone should be equally conscious of the fact that there will always be limitations in lending to the individual. So look any which way, the most potential segment for the credit growth to come, in our condition, is MSME sector," Reserve Bank of India Deputy Governor S S Mundra said today.
The RBI also made the reporting of returns of NBFCs, with asset size below Rs 500 crore more stringent under which all non-deposit taking NBFCs are required to submit an annual return to the RBI.
Foreign currency assets (FCAs), a major part of the overall reserves, increased by USD 1.351 billion to USD 316.238 billion for the week ended March 27, showed the central bank data.
This was on the back of a USD 2-billion increase in the value of residents' financial assets abroad compared to the USD 0.8-billion rise in the value of foreign-owned assets in the country, it said in the quarterly data on International Investment Position (IIP).
The monetary policy framework agreement as signed on February 20 is to "primarily maintain price stability while keeping in mind the objective of growth". "The Reserve Bank will aim to bring inflation below 6 percent by January 2016.
Foreign currency assets (FCAs), a major part of the overall reserves, increased by USD 33.6 million to USD 266.90 billion for the week ended February 28, RBI said.
In the previous week, the reserves stood at USD 293.287 billion, rising USD179 million. In the week to January 10, the total reserves had dipped by USD 2.599 billion to USD 293.11 billion.
Economists believe that a status quo on key policy rates will serve as a breather for households and leveraged developers alike.
Former RBI boss Bimal Jalan expects the central bank's moves to end uncertainty surrounding the rupee and hopes the same steps would be reversed once stability is established.
While the rupee lost 9.7 percent between April 2 (54.25 to the US dollar) and July 12, when it closed at 59.57, during the same period (between the weeks to April 5 and July 5), the forex reserves plunged by 4.28 percent or $12.48 billion to reach $280.17 billion from $292.65 billion
The foreign exchange reserves of the country declined by USD 580 million to USD 295.67 billion during the week ended January 18 following decline in core currency assets, the Reserve Bank said today.
After dipping for two weeks, the country's foreign exchange kitty rose by USD 1.45 billion to USD 294.98 billion for the week ending November 23 amid increase in foreign currency assets, RBI said today.
The foreign exchange reserves slipped marginally by USD 32.7 million to USD 293.53 billion, the Reserve Bank said today. The total reserves had dipped by USD 781.5 million to USD 293.56 billion in the previous reporting week.
As per the draft, anyone seeking to acquire 5% or more share capital of a banking company would need a nod from the banking regulator.
The Reserve Bank of India is pulling up banks for not adhering to best practices and slacking on their role of reviewing microfinance institutions’ operations after extending credit support, reports The Hindu Business Line.
