Rupee slips to record low pressured by NDF dollar bids, RBI likely steps in

 11 Dec 2024 09:39 AM

The Indian rupee slumped to a new record low against the dollar on Wednesday, crossing 84.86 per dollar due to strong demand in the non-deliverable forwards market. Likely intervention by the Reserve Bank of India, selling dollars via state-run banks, helped curb further losses, preventing the rupee from mirroring gains seen in other Asian currencies.

Rupee hits record low, bonds rise as change of guard at RBI spurs rate cut bets

 10 Dec 2024 05:42 PM

The Indian rupee slipped to a record low and government bond prices rose on Tuesday, as the appointment of career bureaucrat Sanjay Malhotra as the next Reserve Bank of India (RBI) governor raised expectations of rate cuts.

StanChart picks ex-JPMorgan executive as next India head, sources say

 10 Dec 2024 01:11 PM

Standard Chartered has nominated P.D. Singh, former JPMorgan India chief, as its next CEO for India and South Asia. The bank has sought approval from the Reserve Bank of India for the appointment. If approved, Singh will replace Zarin Daruwala, who is retiring in April 2025.

RBI introduces new interest rate benchmark

 07 Dec 2024 09:33 AM

The Reserve Bank of India (RBI) is launching a new interest rate benchmark, the Secured Overnight Rupee Rate (SORR), to better reflect money market conditions. SORR will be based on secured transactions, offering a more robust and representative rate than the current call money market rate.

Bankers welcome RBI move to cut CRR: 'Will bring down cost of funds'

 06 Dec 2024 08:55 PM

The Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) by 0.50%, releasing ₹1.16 lakh crore into the banking system. Bankers lauded the move, expecting it to lower borrowing costs and boost lending. The RBI maintained the repo rate, signaling a focus on inflation control while supporting growth through CRR reduction and other measures.

Market Wrap: D-Street breaks 5-day winning streak; Sensex slips over 50 pts, Nifty drops below 24,680

 06 Dec 2024 03:49 PM

Indian benchmark indices broke their five-session winning streak on Friday, in a highly volatile trading session after the Reserve Bank of India (RBI) slashed the cash reserve ratio (CRR) by 50 basis points to ease liquidity conditions, but kept interest rates unchanged while cutting the GDP growth projection.

RBI's Shaktikanta Das has a few suggestions for banks to further boost India's financial strength

 06 Dec 2024 11:18 AM

RBI MPC: The Reserve Bank of India (RBI) Governor Shaktikanta Das announced measures to address unclaimed deposits by segregating beneficiary accounts through Direct Benefit Transfer (DBT). The RBI also increased interest rate ceilings on Foreign Currency Non-Resident Bank (FCNR(B)) deposits to attract capital inflows, effective until March 31, 2025. Indian banks' financial parameters remain strong, and the RBI continues proactive supervision.

STATE BANK OF INDIA: SHOW THE HIGHEST IMPACT AS A PERCENTAGE OF NII AND PPOP DUE TO THEIR LARGE DEPOSIT BASES. A REDUCTION IN CRR RELEASES SIGNIFICANT FUNDS FOR LENDING OR INVESTMENT, IMPROVING PROFITABILITY.

 06 Dec 2024 10:41 AM

STATE BANK OF INDIA: SHOW THE HIGHEST IMPACT AS A PERCENTAGE OF NII AND PPOP DUE TO THEIR LARGE DEPOSIT BASES. A REDUCTION IN CRR RELEASES SIGNIFICANT FUNDS FOR LENDING OR INVESTMENT, IMPROVING PROFITABILITY.

Rupee gains, tracking most Asian peers ahead of the RBI policy decision

 06 Dec 2024 09:59 AM

The Indian rupee gained ground against the US dollar, rising to 84.6550 ahead of the Reserve Bank of India's (RBI) monetary policy decision. Analysts predict potential easing measures like a CRR reduction, but a surprise rate cut could weaken the rupee further. Regional peers also saw gains, while the US dollar softened ahead of key US jobs data.

Sensex, Nifty lackluster as investors await RBI monetary policy decision

 06 Dec 2024 09:33 AM

Indian equity markets opened flat on Friday morning, with investors awaiting the Reserve Bank of India's monetary policy decision. The Sensex and Nifty50 saw minor declines. Recent economic data showing slower growth has fueled expectations of potential policy easing, despite persistent inflation.