Stay updated with breaking news from Mint Road. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
At ₹2.23 lakh crore as on December 15, the core liquidity has declined sharply from the peak surplus of ₹12 lakh crore from September to October of 2021 during the post-Covid phase in which the RBI had infused large amounts of funds into the banking system to ensure flow of credit to productive sectors during the crisis, analysts said.
The RBI's net outstanding forward book - it represents proprietary dollar sales or purchases for a future date - turned negative in October. Mint Road is obligated to sell $14.6 billion dollars, latest data showed. The last time the forward book was in negative zone was in July 2020.
India Retail inflation: In the December policy meeting, the Reserve Bank of India (RBI) left the inflation aim unchanged at 5.4 per cent. In the August policy, the RBI MPC had raised its FY24 inflation forecast to 5.4 per cent from 5.1 per cent.
India Retail inflation: In the December policy meeting, the Reserve Bank of India (RBI) left the inflation aim unchanged at 5.4 per cent. In the August policy, the RBI MPC had raised its FY24 inflation forecast to 5.4 per cent from 5.1 per cent.
'We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources,' says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an 'AA' rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. Th...