As the rupee remains under pressure due to several headwinds and the uncertainty around the India-US trade deal, the Reserve Bank of India (RBI) has been stepping in only to calm volatility, not to stop the fall.
Bond market participants expect an open market operation (OMO) auction in the first week of November as the banking system liquidity is expected to ease on the back of government spending and maturity of bonds. According to market participants, the Reserve Bank of India (RBI) will issue a notification on OMO sales by October 31. They speculate that the central bank might conduct the auctions in multiple tranches of Rs 10,000 crore.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Soumya Santosh worked as a caregiver attending to an old woman at a house in the southern Israeli coastal city of Ashkelon.
Indian economy is on growth path, says US diplomat.
The US dollar strengthened against the world currencies after the Turkish lira dived almost 8 per cent, sparking a sell-off in global markets.
Also, there were not many clients in the market as they had already made alternate arrangements due to the strike.
Asserting that sovereign debt and banking stress in Europe are the most serious risks to the global economy, the United States on Wednesday said European leaders must escalate their efforts to address the economic challenges faced by the region.
According to the Treasury official, the finance ministers meeting will cover the main topics for the Cannes summit that the G-20 have been working on, which will focus on food security.
The liquidity deficit came down slightly on Monday but remained above Rs 1 lakh crore, as banks borrowed heavily from the repo window of the Reserve Bank of India.
Barack Obama on Thursday named Mary Schapiro, head of the securities industry's self-regulatory body, as chair of the Securities and Exchange Commission.
"If I go there at all, I would be addressing the (US-India) CEOs meeting and also have some bilateral meetings with Treasury officials. I do not know of any other meeting. I do not know from where these things come," he told media persons in Ahmedabad when asked about reports about his plans to meet with Dow Chemicals CEO Andrew Liveris in the US.
Twin objectives of promoting recovery in the global economy and to put in place a set of reforms in the international financial system to help prevent future crises of this type taking place are crucial for G20, said a top US Treasury official. G20 is a group of 20 leading and emerging economies of the world representing more than 85 per cent of the global economy.
Despite the various steps taken by the central bank, the pressure on the rupee has continued, which is mainly due to global factor
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
The president of a top Honduras football club and two family members were charged by US authorities on Wednesday with engineering a decade-long scheme to launder drug trafficking and foreign bribery proceeds through US accounts.
The steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
Abheek Barua & Bidisha Ganguly explain why the US treasury should intervene if the overvalued greenback continues to rise.
Bankers expect RBI to help them spur lending growth.
There's need to address growth, but weak rupee putting pressure on prices.
Sharp swings likely in equity, forex and bond markets.
Analysts expect RBI to restore 100-bp corridor in Tuesday's policy review.
India's banks rely on overnight borrowings to fund longer-term lending.
Banks seems to be upset over RBI's move over rate cut.
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