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The Reserve Bank of India (RBI) is considering rolling over a $5 billion foreign exchange swap set to mature next week in order to prioritize liquidity management over bolstering forex reserves. Some investors believe that allowing the swap to mature could lead to an inflow of around ₹40,000 crore in the banking system, but others argue that the RBI should focus on battling inflation. The RBI's decision may also be influenced by its desire to augment reserves as it collects $5 billion back from banks.
The Reserve Bank of India (RBI) is considering rolling over a $5 billion foreign exchange swap set to mature next week in order to prioritize liquidity management over bolstering forex reserves. Some investors believe that allowing the swap to mature could lead to an inflow of around ₹40,000 crore in the banking system, but others argue that the RBI should focus on battling inflation. The RBI's decision may also be influenced by its desire to augment reserves as it collects $5 billion back from banks.
Sobhondeb Chattopadhyay said the income of West Bengal's farmers has tripled, making it the highest growth rate in the country. He was speaking at the seventh Food Processing Conclave organized by CII. He also stressed the crucial role that 864 Farmer Producer Organizations (FPOs) in teh state should play in bridging the gap between buyers and producers for the benefit of both parties.
The Indian rupee's valuation against currencies of major trading partners has surged to a near two-year high on central bank intervention and elevated domestic inflation....