While RBI's foreign exchange reserves have swelled to over $400 billion, it has a 'sell' position of $981 billion.
April policy could be all about RBI communication.
In a bid to make primary markets more efficient, the Securities and Exchange Board of India on Saturday said listing time gap would be reduced further from 6 days after the IPO currently, while listing will be allowed for security receipts issued by asset reconstruction company.
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
The depreciation in the yuan has led to a decline in all emerging market currencies
In the face of burgeoning forex reserves at over $93 billion, the government has quietly prepaid $1.4 billion worth of costly foreign loans to World Bank and Asian Development Bank.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
Indian Overseas Bank will shortly open 'representative offices' in UAE, Malaysia, China and Canada, subject to the approval of the board and the Reserve Bank of India, S C Gupta, managing director, IOB, said on Saturday.
In October, the contribution through SIPs rose to Rs 79.85 billion, up 42% compared to the same month last year.
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
The proposed Rs 10,000 crore (Rs 100 billion) of bond purchase would be done on Monday.
The rupee largely shrugged off the high volatility in stocks and rebounded sharply towards the fag-end trade following bout of dollar selling by exporters
The economic fundamentals were strong enough to ensure 6-6.5 per cent growth in GDP during 2003-04, while fiscal deficit will be under control, D C Gupta, finance secretary said on Friday.
While Mcleod Russel, ADF Foods, Indiabulls Real Estate, DCM Shriram and BSE have announced buyback through open market route, the remaining 23 companies plan to buy back their shares via tender offers
TCS is expected to report a 5 per cent QoQ (USD) growth in revenues, highest in our coverage, while Wipro's IT Services revenue growth could be closer to 1.1 per cent QoQ (USD terms)."
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
'Rate cut should reiterate RBI's commitment in providing confidence to consumers and small business.'
The huge pressure on the currency market largely went unnoticed because of the demonetisation exercise.
'I would say restore the banks to health, get active board composed of professionals, then there will be an ideal situation for merger.'
Officials asked what the point was in going through banks when the government has to give guarantees.
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
There cannot be value in every stock, whether large cap or otherwise. Thus buying a stock cheap does not always translate into value buying
Analysts predict TCS's outlook to be stable.
Government bonds yields are likely to trade in a range, owing to profit booking.
The currency got support from dollar flows into local equities and greenback sales from state-run lenders.
Nearly three-fourths of the debt money, as of April 30, 2019, was invested in securities with duration of less than three years.
Macroeconomic factors under control, says Rajan
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
As the reform process is expected to gain further momentum, the Indian rupee will continue to outperform its Asian peers, which are likely to weaken further against the US dollar in 2015, says an HSBC report.
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
The government is likely to name a successor to Rajan sometime this month
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
The deficit data was the latest in a run of positive signs for the sluggish domestic economy and could put India in a better position should the Fed start tapering, than in the summer when the rupee hit a record low.
Officials said Sebi is closely in touch with RBI on the market developments.
Auto majors face dip in exports due to credit squeeze in Lanka, Nepal
Analysts mostly prefer domestic plays beside select films with foreign exposure.
