Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
India's trade deficit shrank to a 10-month low in December as global oil prices tumbled and demand for gold fell, auguring well for Indian current account balance and the rupee.
According to HSBC, the 'storm has abated' for the Indian markets as the US Fed has deferred tapering of its quantitative easing stimulus, and as the new Reserve Bank of India Governor Raghuram Rajan has taken steps to contain the rupee fall.
The inflow of cheap capital has also kept the rupee at a high level, making exports uncompetitive and broadening the current account deficit despite falling oil prices.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
An action on the rate front is unlikely to figure in Rajan's plan for the moment.
It has already cut the rate three times this year to loosen credit and boost slowing growth in Asia's third-largest economy.
The big test will come at the end of March when the fiscal year ends and banks tend to hold on to cash.
If you have answers to these, you need not worry about Britain's exit from the European Union, Raghuram Rajan's exit from the Reserve Bank of India or Narendra Modi's chances of re-election in 2019; your financial future will be safe, says P V Subramanyam
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
The total market valuation of all BSE-listed firms on Thursday regained the Rs 100-trillion mark as the benchmark Sensex climbed over 600 points after the RBI surprisingly cut interest rate by 25 basis points.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
The rupee's strength against its competitor could come to haunt exporters.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
All policy planners want low interest rate, says Jaitley
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The rupee resumed lower at 61.15 per dollar as against the last closing level of 60.77 per dollar yesterday at the Interbank Foreign Exchange (Forex) Market and dropped further to 61.44 per dollar before quoting at 61.40 per dollar at 1045 hours.
Hopefully, the grey world of central banking in a nation hit by demonetisation, will lighten up with some of his notes soon.
India's central bank kept its key repo lending rate unchanged at 6.75 percent on Tuesday.
The arrival of the June-September rains has been delayed.
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Food and fuel inflation in India have remained high for several years, the paper said, adding to durably reduce the current high inflation, the monetary policy stance needs to remain tight for a considerable length of time.
'China's development is on a different scale from India's. They are very far ahead.' 'I don't think it will be possible in the next 30 years for us to catch them,' says Aakar Patel.
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
Rajan retained the short-term lending rate at 6.5 and the cash reserve requirement of banks at 4 per cent.
The argument for a weaker rupee is substantial.
Raghuram Rajan remains focused on a long-term inflation target of 4 percent.
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Industry's demand for a reduction in the repo rate, currently 8 per cent, has gained momentum after wholesale and retail inflation eased in February.
The WPI has been in the negative zone since November.
A strong currency helps in fighting some of the import-led inflation.
The RBI gauges both measures of inflation when deciding on monetary policy,
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
The move will likely attract more retail investors.
Investors' confidence has been revived in recent weeks on the likelihood the elections will usher in a new government.
investors will look to the new governor to continue the banking sector clean-up with the same urgency as Mr Rajan, who was targeting fully cleaned-up and provisioned balance sheets by March 2017
The rupee had gained seven paise to close at 61.15 on Friday on suspected RBI intervention in the forex market.
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Economists and investors want RBI to retain independence in setting rates
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan may have found the Reserve Bank of India (RBI)'s inflation projections on the higher side, but independent experts agree with the central bank and expect both wholesale and retail prices to remain high.
According to the global financial services major, inflation may remain sticky, with a possible El Nino effect on the monsoon likely to push up food prices and geopolitical uncertainties seen pumping up global commodity rates.
Traders believe the RBI will step in more strongly, if the rupee starts falling towards 65
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RBI chief Raghuram Rajan said on Thursday he was 'very uncomfortable' with the inflation reading, a comment that probably seals the case for him to deliver his third rate increase next Wednesday, despite a weak economy.
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