Central bank communication now holds as much significance as central bank action. A single clause in a press conference can move markets more than a 25-basis-point adjustment.
The central bank said it found 'several' instances of 'unreasonable elongation of tenor' of floating rate loans by lenders without proper consent and communication to the borrowers.
During the year, RBI saw a gain of 1.03 trillion rupees from foreign exchange transactions, which allowed it to increase the size of its contingency fund, the report showed.
Although RBI has been raising repo rate to contain rising inflation & lending, it hasn't discouraged borrowers. The growth in credit could partly be attributed to ‘pent up demand’.
RBI has ensured that $9 billion has been made available at overseas branches of some Indian banks for the country's three state-run refiners to tap, according to sources.
Industry says manufacturers have 2-4 weeks of buffer stocks, but prolonged disruption could push up shortage risks, especially of consumables like IV and syringes.
French newspaper La Tribune earlier last week indicated that UAE withdrew from deal to fund EUR 3.5 billion. India is looking to order 114 new Rafales, which could include the F5.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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