The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April, according to estimates by DBS Bank Ltd.
Shaktikanta Das has to assure Centre that its borrowing program would get completed without pushing the 10-year yield much higher than the current level of around 7.5%, a 3-year high.
Lenders view loan approvals with a low CIBIL score as a risky proposition, whereas a good credit score provides some assurance that the debt will be recovered.
The central bank approved the transfer of 303.1 billion rupees to the government from its surplus funds, a third of the 991.2 billion rupees it had given last year.
'Magic price points' — such as Rs 5 or Rs 10 — help less-affluent buyers stay within their budgets. In January, Rs 10 Surf became Rs 12 as commodity cost pressures became too intense.
Sources said that RBI is intervening in all foreign-exchange markets including the offshore markets and will continue to do so to protect the rupee which slid to a record low Monday.
ED has accused Amtek promoter Arvind Dham of controlling web of nearly 500 shell companies operating as a layered structure, with up to 15 levels of indirect ownership, to divert funds.
Joint submarine patrol ‘covered more than 2,000 nautical miles’ and was joined by Russian support vessels. Beijing maintains exercise ‘not directed against any third party’.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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