RUPEE FUND
Rupee strengthens slightly against dollar, settling at 83.495
The rupee closed at 83.495/$1, versus the previous close at 83.50/$1, Bloomberg data showed. Foreign investors bought Rs. 2,575 crores worth of Indian equity and Rs. 1,180 crores in fully accessible Indian government bonds, BSE and CCIL data showed.
Rupee falls 5 paise to 83.54 against US dollar in early trade
The rupee depreciated 5 paise to 83.54 against the dollar due to high crude prices, starting at 83.52. Positive equities, foreign fund inflows supported. Amit Pabari noted pressures like crude at USD 87. S&P's YeeFarn Phua mentioned fiscal deficit reduction need. NSE Nifty, Sensex surged; FIIs buying shares. Dollar index at 105.36, US yields at 4.35%.
RBI tells banks to find ways to bridge the gap between credit and deposit growth
The meeting addressed various banking challenges including credit-deposit ratio, cybersecurity, and digital frauds. Governor Das emphasized the need for robust cybersecurity controls and customer awareness initiatives to curb digital frauds.
Rupee falls 11 paise to close at 83.537 against US dollar; 10-year G-Sec yield trades flat
The 10-year benchmark bond yields have been trading flat, but traders say that these levels are good. “Today there seems to be buying from mutual funds. They sold during the quarter end so they have to replenish their kitty”, they said. Liquidity eased a bit as the month began to a surplus of almost Rs. 28,000 crores due to government spending.
Equalisation of interest for MSMEs extended till August 31
The extension of the interest equalisation scheme for MSMEs till August 31 with a total outlay of ₹750 crore disappoints non-MSME exporters and may impact labor-intensive exports and large companies under 410 tariff lines.
Rates on fresh loans and deposit moderate sequentially in May
In May 2024, the Reserve Bank of India reported a marginal decline in weighted average lending rates on fresh loans and deposits by 16 and one basis points, respectively. The WALR on fresh rupee loans fell to 9.39%, while the WADTDR on fresh term deposits dropped to 6.47%.
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Rupee rises 8 paise to 83.37 against US dollar in early trade
Market anticipates US inflation data, oil supply issues from Russia and the Middle East drive prices. The rupee strengthens against the dollar amidst market optimism and increased foreign investments.
India to enter into bilateral Rupee swap agreements with SAARC countries: RBI
The Reserve Bank of India, in collaboration with the Indian government, has unveiled a revised framework on currency swap arrangements with South Asian Association for Regional Cooperation (SAARC) countries for the period spanning 2024 to 2027.SAARC comprises Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
Rupee gains for 3 straight sessions, settles at 83.57
The yield on the 10-year benchmark bond increased slightly but remains within market expectations, closing at 7.00% on Wednesday.
BPEA credit raises Rs 375 cr in re fund
Private equity firm BPEA Credit closed the first round of its latest rupee fund, SSTIF-I, targeting ₹750 crore with a green shoe option. Kanchan Jain leads the fund with a unique yield profile for 10-12 investments in various sectors.
Rupee rises 6 paise to 83.47 against US dollar in early trade
The rupee appreciated 6 paise to 83.47 against the US dollar in early trade on Friday ahead of the RBI monetary policy announcement.
I received Rs 70 lakh after retirement. Where should I invest this amount for good return?
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RBI to face problem of plenty: Prepare for bond sales
The RBI's challenge for the year may not be inflation but liquidity. Government spending resumption and overseas fund flows complicate monetary policy effectiveness.
Indian stocks, bonds and rupee set to gain as polls show landslide BJP win
While the final results might differ from the exit polls, the strength of the projected victory is expected to benefit risk assets. Should the June 4 results align with the exit polls, analysts expect the NSE Nifty 50 Index to reach a new record
India election 2024: How markets may react to the outcome
India's national election, spanning six weeks and concluding on Saturday, has financial markets eagerly awaiting the verdict after counting on June 4.
I received Rs 18 lakh from sale of ancestral property. Where should I invest this money for the next 3-5 years?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Inoperative PAN holders can now invest in mutual funds due to latest KYC rule changes
Inoperative PAN invest in mutual fund schemes: The market regulator, Securities and Exchange Board of India (Sebi), has provided relief to mutual fund investors to get KYC Registered status from KYC on-hold status. The KYC Registration Agency (KRA) is required to comply with the latest relief by May 31, 2024.
Foreigners boost India corporate debt buying before govt bond index inclusion
Foreign investors show increasing interest in Indian rupee-denominated corporate debt ahead of the inclusion of Indian government securities in a global bond index, expecting passive inflows of around $25 billion. Recent data highlights purchases in corporate bonds, interest in launching ETFs, and robust demand for dollar bonds.
Where should I invest Rs 1 crore to get monthly income of Rs 1 lakh?
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GIFT Nifty down 40 points; here's the trading setup for today's session
The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, tracking positive sentiment in domestic equity markets and fresh foreign fund inflows.
Investing in ELSS mutual funds: 6 things to know
Equity-linked savings schemes (ELSS) serve a dual purpose, offering potential for wealth growth, while providing tax-saving benefit under Section 80C.
Rupee opens on flat note against US dollar in early trade
At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.50 against the American currency and touched 83.49 in the initial trade.
How to make every rupee count
The international aid squeeze has led to a reduction in official development assistance (ODA) to food systems, creating a financing gap of $350 billion per year. Multilateral development banks (MDBs) and international financial institutions (IFIs) play a crucial role in this context but need to improve impact assessment and reporting. The World Bank has shown leadership with its scorecard, but more needs to be done to quantify the cost of inaction.
Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the local unit opened at 83.48, it touched 83.46 in the initial trade, registering a gain of 2 paise from its previous close.
Smallcap index hit record high but why did 93% smallcap MFs underperformed?
The small cap schemes are benchmarked against Nifty Smallcap 250 - TRI and S&P BSE 250 Small Cap - TRI. In April, they offered 7.20% and 6.58% returns respectively. The small cap stocks have also offered returns up to 86% with the smallcap index ending higher by 10% in the month.
Rupee trade pacts priority, many in final stages: Amit Shah
India progresses negotiations for trade settlement in rupees post-elections, aiming to become a major manufacturing hub. Home Minister Shah criticizes opposition states for misusing relief funds. The nation's economic growth trajectory is highlighted amidst global recognition.
Mutual fund new KYC rules: Aadhaar is a must if you want to invest in multiple mutual fund schemes smoothly
Mutual fund KYC rules from April 1, 2024: To invest in any scheme of any mutual fund house easily, an investor must have KYC Validated status. However, the KYC validated can be achieved only if the KYC documents submitted by an individual can be verified with the source issuing such documents.
Indian government bonds outperform corporates on index boost
Fixed income in the world’s most populous country is in demand ahead of its addition into JPMorgan’s emerging markets debt gauge in late June. The accession is expected to attract tens of billions of dollars of inflows into a market historically shielded from foreigners.
From Russian funds with love: Plan mooted to tap rupee balance in special accounts
Russian financial institutions have been negotiating with the Reserve Bank of India (RBI) to use the rupees in special accounts in India for investment in stocks and securities. Currently, 10 Russian institutions, including its largest lender, have registered as foreign portfolio investors (FPIs) with Sebi. However, they have made little investments due to US sanctions in the wake of Russia's war with Ukraine.
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