The recent policies that have been announced by the Reserve Bank of India (RBI) will allow banks to fully use its capital, funding profile to keep business at an equilibrium level, which otherwise was getting skewed towards retail, said K V Kamath, chairman, Jio Financial Services.
The rupee has remained largely stable against the US greenback in the current calendar year (CY 2024), depreciating by just 0.59 per cent so far. However, it has considerably weakened against the euro and pound. The local currency has depreciated by 1.6 per cent against the euro and 5.6 per cent against the pound, as both currencies strengthened against the dollar during this period.
Rescuers assisted by armed forces scrambled to find survivors in quake-hit central Philippines on Tuesday but a series of powerful aftershocks hampered them, as President Ninoy Aquino appealed for calm, a day after a 6.8 temblor shook the country killing at least 56 people.
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