MUMBAI India's worsening economic outlook as coronavirus cases soar has raised the chance the central bank will cut interest rates at its policy review on Thursday, in spite of inflationary pressures.
MUMBAI The Indian government is working with the central bank on a possible one-time restructuring of loans due to the impact of the COVID-19 pandemic on businesses, finance minister Nirmala Sitharaman said on Friday.
MUMBAI Bad loans in the Indian banking system could soar to almost 15% of total loans by March 2021 as the coronavirus crisis leads to rising levels of household and corporate debt, the Financial Stability and Development Council said in a report published on Friday.
MUMBAI With India's economic growth sputtering, the Reserve Bank of India was expected to maintain a rate-cutting cycle, but an uptick in near-term inflation could give the central bank's Monetary Policy Committee reason to pause for now.
NEW DELHI The medium-term outlook for the Indian economy remains uncertain with supply chains and demand yet to be restored fully while the trajectory of the coronavirus spread and the length of its impact remain unknown, Reserve Bank of India Governor Shaktikanta Das said on Saturday.
MUMBAI India's rupee has the backing of a healthier trade account, steady foreign investment inflows and a return in global risk appetite, but its gains are being limited by a central bank keen to prevent wild swings and build dollar reserves.
MUMBAI The Indian rupee strengthened to its highest level in more than three months on Friday as investors bet on further declines in the dollar amid expectations of further inflows, with support from the central bank's non-intervention in the spot market.
MUMBAI India's current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India said on Tuesday, the first quarterly surplus in 13 years.
MUMBAI India's benchmark 10-year bond yield dropped to its lowest level in over a week on Tuesday after the Reserve Bank of India announced a special open market operation to simultaneously buy and sell debt on July 2.
MUMBAI Heightened uncertainty in India caused by the coronavirus pandemic has led to a surge in currency in circulation as people hoard cash or park money in accessible deposits to safeguard themselves against salary cuts or job losses.