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Police officer stands guard in front of the RBI head office in Mumbai

RBI intervening frequently in INR forwards
The Reserve Bank of India (RBI) has been seen intervening in the rupee forward markets, alongside its defence of the spot rupee, possibly to replenish its FX reserves and to replace domestic rupee liquidity, traders said. That intervention in forwards, coupled with the heavy demand for short-term hedging by importers and foreign investors, has led to a steep inversion of the dollar/rupee forward

RBI: selling dollars to oil cos an option

The Reserve Bank of India (RBI) may consider directly selling dollars to oil marketing companies in an attempt to arrest a further fall in the rupee, which has hit record lows for seven consecutive

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RBI says reserve money grew 6.7 pct y/y in May 18 week

The Reserve Bank of India said on Wednesday year-on-year reserve money growth was 6.7 percent in the week to May 18, compared with 17.5 percent a year ago. The currency in circulation grew

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SBI turns around

State Bank of India’s results for the last quarter of 2011-12 and the whole financial year have provided a much-needed pick-me-up, no matter how fleeting, to the gloomy mood in the financial

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Cut in base rate better than spread reduction

Since the beginning of this year, banks have been lowering interest rates for home loan borrowers. Union Bank of India (UBI) set the mood for a rate cut in January with a 10-basis-point (bp) reduction

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Union Bank reduces Home Loan rates
Union Bank of India on Friday announced it has slashed their Home Loan interest rates.

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