Acharya’s comments come at a time when markets await clarity on whether new RBI Governor Sanjay Malhotra would continue with his predecessor’s approach of intervening firmly in the currency market.
Taking a dig at those writing his "obituaries", RBI Governor Raghuram Rajan on June 22 said he will be around "a lot in India" even after leaving the central bank and should not be written off as yet
The money market doesn't seem to be in a hurry to get any liquidity and that the bond yields will hover around 7.4 percent, with a plus or minus 5-7 bps at least till August, says Jayesh Mehta, MD & Country Treasurer, Bank of America.
In an interview to CNBC-TV18‘s managing director, Menaka Doshi, Piramal alongwith N Chandrasekaran, managing director and chief executive officer, TCS and Baba Kalyani, chairman and managing director, Bharat Forge shares his views on the macro and political sphere of the nation.
Government bonds recovered all losses to end flat on Tuesday on speculation the government will take more steps to narrow the country's current account deficit after the rupee hit a record low.
The Nifty shed 400 points in eight sessions and also posted a biggest weekly loss since week ended March 22. For the week, the index tanked 3.5 percent or 208 points while the Sensex plunged nearly 3 percent.
Suresh Sadagopan of Ladder7 Financial Advisories discusses the way forward in dealing with debt mutual funds after the currency depreciated and RBi's steps to stem its volatility.
Speaking to CNBC-TV18, Naina Lal Kidwai, country head, HSBC India and president Ficci, on Friday, said that the industry would like a status quo maintained on the rates front. She said that rupee bonds were a key policy tool in the government‘s kitty.
State Bank of India (SBI) on Thursday said it is not impacted much by the recent liquidity tightening measures taken by the Reserve Bank of India to curb rupee volatility.
Sources say JPMorgan, Goldman Sachs, SBI Capital and SBISG have submitted a working paper on global INR bonds to the finance ministry.
"We have got an overall situation where the RBI did what was necessary to signal to market that the exchange rate is being pushed into an unreasonable range," Montek Singh Ahluwalia told CNBC-TV18 in an interview.
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
In run-up to the first quarter monetary policy announcement by RBI on July 30, bankers on Thursday strongly pitched for a reduction in the cash reserve ratio (CRR) as they feel a cut in the short-term lending rate looks unlikely given the rupee volatility.
Rupee voltality not good for economy and business confidence, says Ajai Sahai, DG & CEO, Indian Exporters' Federation.
High interest rates and forex losses resulting from weakness in rupee will impact the first quarter (April-June) results of the corporates, an Assocham survey today said.