Reuters India - Squid Business

Rupee ends higher as cenbank holds rates but logs fifth straight weekly fall

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Friday on the back of a softer dollar and after the Indian central bank kept policy rates unchanged but cut banks’ cash reserve ratio, effectively easing monetary conditions amid slowing economic growth. The rupee closed at 84.6875 against the U.S. dollar, up from its …

Rupee ends higher as cenbank holds rates but logs fifth straight weekly fall Read More »

Indian cenbank holds rates steady; cuts banks’ cash reserve ratio

(Reuters) – The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday but cut the cash reserve ratio (CRR) that banks are required to hold, effectively easing monetary conditions as economic growth slows. The Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.50% for an eleventh straight policy meeting. …

Indian cenbank holds rates steady; cuts banks’ cash reserve ratio Read More »

Global music stars head to India as young, affluent Indians pack concerts

By Jaspreet Kalra MUMBAI (Reuters) – Young, well-to-do Indians’ booming appetite for live entertainment is attracting global music stars as they seek out new audiences in the world’s most populous nation. Dua Lipa and Maroon 5 performed in India’s financial capital Mumbai in the past seven days, while Coldplay, Ed Sheeran, Shawn Mendes and Green …

Global music stars head to India as young, affluent Indians pack concerts Read More »

Indian dealers offer discounts; China sees seasonally soft demand

By Rajendra Jadhav and Rahul Paswan (Reuters) – Physical gold was sold at a discount in India for the first time in six weeks, as a weaker rupee drove up prices and in turn moderated demand, while top consumer China saw seasonally slow demand. Domestic prices in India rose to 76,800 rupees per 10 grams …

Indian dealers offer discounts; China sees seasonally soft demand Read More »

India’s RBI supports growth with liquidity boost but holds rates amid high inflation

By Swati Bhat and Sudipto Ganguly MUMBAI (Reuters) -The Reserve Bank of India (RBI) kept its key interest rate unchanged on Friday but cut the cash reserve ratio that banks are required to hold for the first time in over four years, effectively easing monetary conditions as economic growth slows. India’s GDP growth rate fell …

India’s RBI supports growth with liquidity boost but holds rates amid high inflation Read More »

India cenbank takes steps to increase forex inflows to boost struggling rupee

By Nimesh Vora NEW DELHI (Reuters) – The Reserve Bank of India on Friday raised the interest rate ceiling that banks can offer for foreign currency non-resident (FCNR-B) deposits to boost forex inflows at a time when the currency has been regularly hitting all-time lows. A FCNR-B is a term deposit account that non-resident Indians …

India cenbank takes steps to increase forex inflows to boost struggling rupee Read More »

Inflation prompts India cenbank to raise agri loan limit

MUMBAI (Reuters) – India’s central bank said on Friday it will raise the limit for collateral-free agriculture loans to 200,000 rupees ($2,364.15) in a bid to enhance access to formal credit for small and marginal farmers in the country. Banks were required to extend collateral-free agriculture loans up to 160,000 rupees per borrower. The decision …

Inflation prompts India cenbank to raise agri loan limit Read More »

India cenbank cuts banks’ cash reserve ratio to ease liquidity conditions

MUMBAI (Reuters) – The Reserve Bank of India (RBI) has decided to cut banks’ cash reserve ratio by 50 basis points to 4%, Governor Shaktikanta Das said in his monetary policy address on Friday. The cash reserve ratio, or CRR, is the proportion of deposits that banks need to set aside as cash. The cut …

India cenbank cuts banks’ cash reserve ratio to ease liquidity conditions Read More »

India cenbank may ease policy Friday through liquidity if not rates, analysts say

By Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India may ease monetary conditions on Friday by reducing banks’ cash reserve ratios after economic growth slowed to a seven-quarter low, but inflationary pressures may make it reluctant to cut interest rates just yet, analysts said. The six-member monetary policy committee (MPC) is largely expected …

India cenbank may ease policy Friday through liquidity if not rates, analysts say Read More »

Gold slips as higher yields weigh; focus turns to US payrolls

By Sherin Elizabeth Varghese (Reuters) – Gold prices dipped on Thursday as U.S. Treasury yields firmed after the release of weekly jobless claims data, while markets awaited U.S. non-farm payrolls figures for fresh insights into the Federal Reserve’s stance on interest rate cuts. Spot gold was down 0.7% at $2,630.30 per ounce, as of 02:03 …

Gold slips as higher yields weigh; focus turns to US payrolls Read More »