Tag: RBI

Indian Cash Rates Company; fall in liquidity in next week

Jan. 25 Business Comments Off

C Rangarajan 300x246 Indian Cash Rates Company; fall in liquidity in next weekThe step of cutting down the Cash Reserve Ratio by RBI has appreciated by the PM’s Economic Advisory Council Chairman C Rangarajan. The rate is decide to be reduce by 5.5% from 6 and as per this the banks has made deposits Rs 32000 crores into the banking system.

The cut down liquidity will surly put effect on the interest rates and also help to push up inflation. Rangarajan said, “The improvement in liquidity conditions will automatically have an effect on interest rates. Improvement in liquidity conditions will lead to softening of interest rates.”

The reduction will help to downing the food inflation on which changing pattern of the policy rate depends. If the results will be of positive then rates cannot be changed. Read more

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NRIs can vote now, says Prime Minister Manmohan Singh

Jan. 08 Business Comments Off

Pravasi Bharatiya Divas 300x173 NRIs can vote now, says Prime Minister Manmohan SinghToday while addressing the 10th annual diaspora meet called the Pravasi Bharatiya Divas (PBD), Prime Minister Manmohan Singh promises to fulfill the long-standing demand of its diaspora to allow Non-resident Indians (NRIs) to vote and participate in the election process.

The Prime Minister Manmohan Singh stated in the meet, “Pursuant to the law that was enacted to enable Non-resident Indians to vote in our national elections, the government has issued notifications for registration of overseas electors under the Representation of People Act, 1950.”

However diaspora plays an important role in the growth and development of the country. And now recognizing it the government responding by giving commitment to address their concerns and fulfill their demands. Read more

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RBI allows NRIs to enclose currency risk with banks

Dec. 30 Business Comments Off

Today, some special terms has to be established by The Reserve Bank on the basis of which avail of ECBs (external commercial borrowings) designated in rupee is to be allowed.

According to a report stated by RBI, the NGOs have been permitted non-residents to hedge currency risk for external commercial borrowings (ECBs) denominated in rupees from foreign equity holders or with Indian banks under the automatic/ approval route.

The route is as per the ECB guidelines. Some are:

1. The amount and tenor of the hedge should not exceed that of the underlying transaction Read more

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Banks increases interest rates sharply to attract NRE deposits

Dec. 25 General News Comments Off

Now having economic slope down, the new strategy is being used to hike the price of value by The Reserve Bank of India is to deregulate interest rates on non-resident external (NRE) rupee deposits and ordinary non-resident accounts.

And there are many banks that have increased the interest rates on fixed deposits held by non-resident Indians (NRIs). Private lender Yes Bank has increased to 9.6 per cent from 3.82 per cent.

Beside this, the interest rate on non-resident external (NRE) rupee deposits to 9.25 per cent from 3.82 per cent has been fixed by IndusInd Bank.

But tremendous hike in rate of interest on NRE deposit has been made by the Lakshmi Vilas Bank that is fixed lender different terms. Read more

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