By Swati Bhat and Dharamraj Dhutia MUMBAI (Reuters) – The Reserve Bank of India is expected to keep sufficient surplus in the banking system to ensure policy transmission and is looking at a level of around 1% of deposits, Governor Sanjay Malhotra said on Wednesday in his monetary policy address. That works out to about …
Looking at liquidity surplus of around 1% of deposits, India cenbank chief says Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves stood at $676.3 billion as of April 4, the central bank governor said on Wednesday, the highest level in five months and gaining for a fifth consecutive week. The reserves rose by $10.9 billion in the reporting week, the most in a month, after increasing by a cumulative …
India’s forex reserves rise to $676.3 billion, central bank governor says Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) cut its key repo rate on Wednesday for a second consecutive time and changed its monetary policy stance to “accommodative” from “neutral” to boost the sluggish economy, but kept the cash reserve ratio (CRR), which banks are required to hold, unchanged. The monetary policy committee unanimously …
Changes to India’s cash reserve ratio since 1992 Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) on Wednesday lowered its key repo rate on Wednesday for a second consecutive time and changed its monetary policy stance signalling room for more cuts ahead, as it seeks to boost the sluggish economy, which is facing further pressure from U.S. tariffs. The monetary policy committee …
Changes to India’s standing deposit facility rate since April 2022 Read More »
By Swati Bhat MUMBAI (Reuters) – India’s central bank is set to cut rates for a second time on Wednesday as risks to growth rise in the aftermath of U.S. import tariffs, with investors closely monitoring its commentary and a potential change in stance for future policy clues. U.S. President Donald Trump last week slapped …
India central bank set to cut rates a second time as US tariffs add to risks Read More »
(Reuters) -Indian refiner Bharat Petroleum Corp on Tuesday signed a joint venture agreement with Singapore’s Temasek-backed Sembcorp to develop green hydrogen and renewable energy projects across India. The joint venture will also consider projects in green ammonia production and bunkering, emissions reduction for port operations as well as other green fuel technologies, the companies said. …
BPCL, Sembcorp ink JV to develop green hydrogen, renewables in India Read More »
By Brijesh Patel (Reuters) – Gold prices rose back above $3,000 per ounce on Tuesday as a weaker U.S. dollar and escalating trade tensions between the world’s two largest economies lifted demand for the safe-haven asset. Spot gold was up 0.8% at $3,007.69 an ounce by 10:58 a.m. ET (1458 GMT), moving away from a …
Gold rebounds above $3,000/oz over trade war fears, weak dollar Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell to a more than two-week low on Tuesday, weighed down by a weaker yuan and corporate hedging demand, while forward premiums eased on rising U.S. bond yields. The rupee closed at 86.2650 against the U.S. dollar, down 0.5% on the day. The currency hit a …
Rupee hits over two-week low hurt by weaker Chinese yuan, importer hedging Read More »
By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) – Indian importers locked in foreign exchange hedges with banks at a record pace last month, capitalizing on a rally in the rupee. A few of these banks are now facing margin calls due to notional losses on those positions, four bankers said. Importers purchased dollar/rupee foreign …
By Bharath Rajeswaran (Reuters) – India’s benchmark equity indexes rose on Tuesday, lifted by bargain buying and a broader Asian rally, as hopes that global trade tensions might ease helped domestic markets recover from their worst drop in 10 months. The Nifty 50 rose 1.69% to 22,535.85 while the BSE Sensex gained 1.49% to 74,227.08. …
Indian shares rebound on bargain buying ahead of RBI rate decision Read More »
