While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
ABN Amro Bank has launched a new fixed income investment plan for Non-Resident Indians offering them attractive fixed investment opportunities in the face of maturing Resurgent India Bonds.
India's officialdom must turn to the diaspora to fund the economy's addiction to foreign money.
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
In a bid to retain Resurgent India Bond holders and attract other non-resident Indians, State Bank of India on Friday announced two new schemes for a limited period from September 24.
The Institute of Economic Growth has forecast a depletion in the foreign exchange reserves to $79 billion in August mainly due to over $4 billion dollar payout of Resurgent India Bonds.
The rupee breached key resistance levels and spurted to a 38-month peak against the US currency on Wednesday, buoyed by robust foreign fund inflows and export proceeds
SBI expects to firm up its new deposit investment scheme aimed at the expatriates, including the Resurgent India Bond holders, in the next two to three weeks.
Implying that the Centre's finances were comfortable and fiscal situation was set to improve, the government's gross borrowings fell by over 4 per cent to Rs 93,030 crore till September 20, PNB Gilts said on Tuesday.
State Bank of India targets 35 per cent of the $5.5 billion Resurgent India Bonds' proceeds mainly through the new NRI schemes, Pravasi Vaibhav and Pravasi Samriddhi, even after the Reserve Bank of India tightened the NRI deposit norms on Monday.
State Bank of India on Monday said it aims to retain at least 25-30 per cent of the Rs 25,000 crore (Rs 250 billion) Resurgent India Bonds proceeds by launching an "instrument" having both fixed and floating rates in September.
The Reserve Bank of India has asked the State Bank of India to rework its special non-resident Indian deposit scheme, which was slated to be offered as an option to the investors of Resurgent India Bonds to park their proceeds.
.jpg)
The BofAML report said that five year money can be raised by issuing the 7 to 9 per cent coupon bonds to stabilise markets, just as it was done in 1998 and 2001.
.jpg)
The newly-appointed Governor Raghuram Rajan said on Wednesday Reserve Bank of India will offer a window to banks to swap the fresh FCNR-B dollar funds, mobilised for a minimum tenor of three years and over, at a fixed rate of 3.5 per cent per annum. According to Bank of America Merrill Lynch, "the move should fetch $8-10 billion", adding that the move would help in shifting rupee risks away from NRIs at a time of extreme volatility.
Officials asked what the point was in going through banks when the government has to give guarantees.
'It was India's good fortune to have a Vajpayee lead the government at this crucial moment in history.' 'By taking the N-decision he saved future generations of Indians from being 'Kosovoed' or 'Iraqed',' says Colonel Anil A Athale (retd).
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances