Delhi Auto Expo 2012
HONG KONG/MUMBAI - Stung by the rupee's recent collapse, Reserve Bank of India (RBI) is taking a carrot-and-stick approach to curb trade in the offshore forwards market that is seen as a key source of wrenching currency volatility.
MUMBAI - The Reserve Bank of India on Wednesday relaxed the minimum maturity tenure for banks' foreign currency borrowings' to one year from three years, in order to use the central bank's swap facility which was set up to support the ailing rupee.
MUMBAI - The rupee fell and bond yields surged after the Reserve Bank of India (RBI) surprised markets with an increase in the repo rate on Friday, putting its focus squarely back on managing inflation and the fiscal deficit.
MUMBAI - The dollar swap window for state-run oil companies remains open and tapering will be in a calibrated manner, Reserve Bank of India (RBI) chief Raghuram Rajan reiterated at a post-policy press conference on Tuesday.
MUMBAI - The U.S. Federal Reserve's decision to press ahead with its asset-buying gives India's battered rupee a reprieve and creates space at a policy review on Friday for the Reserve Bank of India (RBI) to scale back some of the measures put in place to support the currency.
MUMBAI - Banks have begun tapping a new concessional swap facility for overseas fundraising, one of a spate of measures the Reserve Bank of India (RBI) has taken to attract offshore funds to support the battered rupee.
SINGAPORE - Foreign banks are pushing to raise billions of dollars from expatriate Indians in response to New Delhi's drive to defend its weak currency, which could mean the government can avoid the need for a sovereign bond or state-backed deposit scheme to attract inflows.
MUMBAI - The rupee fell on Wednesday, after the International Monetary Fund sharply cut its economic growth forecast for the country and as the dollar rallied following the naming of Janet Yellen as the next head of the U.S. Federal Reserve.
NEW DELHI - The cabinet has approved a plan that will allow it to borrow an additional $4.3 billion from the World Bank by investing in special bonds, but could not agree on an increase in taxes on cotton exports, a minister said on Thursday.
NEW DELHI - The upside of the rupee's slump is an export boom that sets the economy straight, right? Wrong.