This is first time MPC will be meeting for such purpose; will discuss reply to government explaining why it failed to hold inflation within mandated range of up to 6% for three straight quarters.
Govt is looking for a valuation of Rs 640 bn ($7.7 bn) for IDBI Bank, which will be a premium of almost 33% based on the lender’s market value of about $5.8 bn on Thursday’s close.
Rupee falls below 83 per US dollar mark for first time and risks prevail for further weakening of the Indian currency; RBI is reluctant to intervene aggressively in the market.
In order to make IDBI Bank purchase attractive, government is in talks with Sebi to relax public shareholding norm for the potential buyer.
RBI expects recovery in economy to be driven by contact-intensive sectors; headline inflation is likely to ease from its high September levels.
Subramanian Swamy has alleged that involvement of RBI officials in scams involving various entities such as Kingfisher, Bank of Maharashtra and Yes Bank had not been probed.
India’s retail inflation surges to 7.41% in September, making it certain that RBI will go for further interest-rate hike in next policy review in December.
With rupee weakening against dollar, RBI tweaks guidelines for banks to manage foreign currency exposure.
Financial bids for IDBI Bank privatisation to be invited by March; sale process likely to conclude by September 2023.
RBI will soon kickstart pilot launch of e-rupee for specific use cases as it tests digital currency in India.
RBI approves Prashant Kumar’s appointment as managing director and CEO of Yes Bank for three years with effect from October 6, 2022.
Government intends to divest 30.48% equity while LIC will offload 30.24% stake in IDBI Bank.
Rupee depreciates 15 paise to close at record low of 82.32 against US dollar; several factors are keeping the Indian currency vulnerable.
The resolution professional of Future Retail invites expression of interest from prospective buyers under the ongoing Corporate Insolvency Resolution Process.
Rupee dips 32 paise to close at record low of 81.94 against dollar amid rising oil prices, corporate demand for the greenback and outflows on defence-related payments.
