The Street had factored in the NDA win, owing to which the appreciation in the rupee is expected to be limited
'The market won't wait for earnings to recover.'
The market went into a tailspin on Friday, as the central bank's decision to keep the interest rates unchanged did not help the sagging investor sentiments, and the barometer Sensex declined to its lowest level since November 3, 2009.
The Reserve Bank of India is exploring the use of a dollar sell-buy swap to drain liquidity from the banking system, having used the most common instruments over the last two and a half years in its fight against inflation.
'A soft landing of the Indian economy would be a long-term positive for the equity markets.'
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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.
The dollar also gained strength in the overseas market against the euro and other currencies.
Bajaj hit out at banks for not passing the entire benefits to consumers.
There's no silver bullet to get rid of poverty, says Alok Sheel.
The immediate concern for the rupee is the sharp spike in oil prices
Data showing foreign institutional investors have slowed their purchases in domestic shares further added to the weak sentiment.
The volume in the anonymous trading platform, NDS-OM, was Rs 7,210 crore - less than half the normal volume, but not as bad as the start of the day indicated.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL's promoter group at Rs 44.15 per share. Anil Ambani's Reliance Group company Reliance Capital in a statement termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group. However, Reliance Capital did not share the details of the "blatant abuse of the purported rights".
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
Increased selling of the dollar by banks and exporters amid sustained foreign capital inflows supported the rupee.
The panel noted that the macro-economic fundamentals of the economy are sound but challenges remain, several of which are structural in nature.
The Indian rupee dropped by 58 paise to a lifetime low of Rs 52.73 per US dollar in early trade on Tuesday on persistent demand for the American currency from banks and importers amid sustained foreign capital outflows from the equity market.
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
Be it bad loans resolution or his uncanny focus on inflation fighting which earned him criticism of being a policy hawk, Acharya was at the centre of it all and deftly steered the policy machinery.
The cash was found in a box earlier this month during a police survey at one of their locked paternal houses in Sarawada village.
India's foreign exchange reserve fell by $550 million to $245.80 billion during the week ended November 21, 2008, due to revaluation in some foreign currencies and partial intervention by the Reserve Bank of India to check a steep depreciation of the rupee.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
Rajan said that even though inflation has breached the 6 per cent mark as against the RBI target of getting it down to 5 per cent by March 2017, the price rise scenario will ebb in future
Kochhar was directed to return about Rs 10 crore in cash bonuses she had received as CEO, and also give up close to 6 million shares of the bank she had as stock option, which was about Rs 350 crore.
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
Even as the rupee plunged to a 10-week low against US dollar on Friday erasing almost the entire gains it made since the recent reform waves, the Finance Ministry on Saturday expressed optimism of a recovery before the fiscal-end and ruled out any intervention by RBI.
Forex dealers said besides increased selling of the American currency by exporters and banks, a higher opening in the domestic equity market and the dollar's weakness against other currencies overseas supported the rupee.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
The Reserve Bank of India's limited intervention was not enough to lift the rupee, the worst performing Asian currency since March.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
Dollar gains against other currencies overseas also put pressure on the Indian rupee.
For the chief minister and Assam alike, the road ahead is full of challenges, notes Aditi Phadnis.
India's foreign exchange reserves surged $5.04 billion in the week ending March 28, its biggest weekly rise in four months, as the central bank started to buy dollars regularly in an effort to build up its defences against any potential global turmoil.
Indian capital markets joined the global sell-off sparked by China growth concerns
The ministry has also asked that the cap of such borrowings is to be set at $500 million (Rs 3,450 crore) for a single company and $1 billion (Rs 6,900 crore) for the entire sector.
For India, Fitch Ratings has 'BBB-' rating.
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