The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
Varun Thakkar Ashok and Chengappa Ganapathy Kelapanda won bronze with a total of 53 after race 15 in the 49er men's event.
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
A rate cut by the Reserve Bank is likely to help the rupee, which today hit a record low of 57.54 versus dollar, says a Bank of America Merrill Lynch (BofA-ML) report.
'At the Asian Games I had a dream, to stand on the podium and have the tri-colour hoisted.' 'I missed one thing in Jakarta -- the national anthem being played.' 'I hope to make it happen at the Olympics by winning gold.'
The Reserve Bank of India (RBI) has announced a dollar-rupee two-year sell-buy swap auction for $5 billion on March 8, which will suck out rupee liquidity from the system. The swap will be in the nature of a simple sell/buy foreign exchange from the RBI side, in which a bank will buy US dollars from the central bank and simultaneously agree to sell the same amount of US dollars at the end of the swap period. "With a view to elongating the maturity profile of its forward book and smoothen the receivables relating to forward assets, it has been decided to undertake sell/buy swap auction of $5 billion on March 8, 2022," the RBI said in a statement. The auction cut-off will be based on the premium amount in paisa terms up to two decimal points.
RBI is expected to cut policy rates by 50 basis points by 2016.
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
The new line-up -- FX400, FX600 and FR600 -- are equipped with the high performance intel core i5 processor with intel turbo boost and intel hyper-threading technologies, which adjusts processor efficiency on the go, greatly enhancing overall system performance.
US interest rate normalisation policy is likely to keep global FX markets volatile.
Domestic handset maker Intex has launched India's first Firefox OS based handset for Rs 1,999, targetted at capturing a larger chunk of the booming affordable smartphone market in India.
The latest generation of Altec Lansing speakers, the FX3022 ex-pressionist Bass, make an interesting set of speakers. ex-pressionist Bass are meant to be an audio treat for music lovers and are priced at roughly Rs 7,000.
A bitter court battle almost forced Varsha Gautham to quit but perseverance helped her to tide over the crisis and clinch a silver medal in sailing at the ongoing Asian Games.
Silicon Valley-based Ikanos Communications on Wednesday launched 100/100 Mbps fibre-fast broadband solution in India targeting businesses and consumers.
RBI cannot aggressively intervene at this stage says the report.
The RBI governor is focused on growth, and keeping rupee slightly depreciated is part of that 'Atmanirbhar Bharat' strategy.
The film is about two youngsters who want to make some quick money and lead a luxurious life.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
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The worst performing Asian currency of the year so far hit a new life low of 61.80 rupees per dollar on Tuesday, breezing past a previous low of 61.21 hit on July 8. Central bank intervention helped the rupee recover, but by Wednesday it was sliding once again, to stand around 61.41 by 1.30 p.m.
This is SBI's second forex technology initiative.
Exciting times ahead in the FX markets, predicts Sonali Ranade
The last thing members of Brazil's Olympic sailing team want to talk about is the water.
Here's what your favourite Hollywood celebrities have been up to.
A sneak review of eight gadgets-- Dell Inspiron 15R, MSI FX600, Micromax X550 3D Qube, Samsung 3D LED TV 9000, G-Fone 468, Dell Inspiron M501R, KYE Genius -- Traveler 900 Mouse and Samsung Wave. Here's what's hot and what's not in these gadgets...
Today, they can't meet even the piffling capital norm set by Mint Road - Rs 5 crore for partnerships and Rs 10 crore for public and private firms in this line of business. Bulk of the trades are put through e-platform offerings of Reuters, Bloomberg, JPMorgan, Barclays or Deutsche Bank. And they have the web-based FXall, FXconnect, Atriax, Hotspotfx and LavaFX for company.
'SARS-CoV-2 is going to change to avoid/overcome any thing thrown at it.'
Asian Games silver medal-winning sailor Sweta Shervegar, a qualified homeopath, dons a PPE kit to become a COVID warrior in Mumbai.
Since the introduction of exchange traded forex futures contract in 1972 at the Chicago Mercantile Exchange, the ever increasing transaction volume and participation has established the popularity of Forex in the world.
India's current account deficit (CAD) is likely to ease to 4.4 per cent of the GDP in the current fiscal year on lower oil and gold prices, Bank of America Merrill Lynch (BofA-ML)said in a research note.
A continued focus on low inflation will be important to keeping gold imports, IMF said.
The euro skidded to a 6-week low of 133.700 yen in the early session.
Fed is expected to deliver a more market-neutral statement
India's foreign reserves continue to march to record highs, touching USD 393 billion early this month backed by strong foreign portfolio and investment flows, according to Development Bank of Singapore.
A golden dream unfulfilled for over 30 years remained just that in women's hockey but India equalled its best ever medal haul as sailors joined the assorted contributors to the country's tally at the 18th Asian Games, on Friday.
The Rupee is 3.7 per cent undervalued on trade related basis.
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