THE WEEKLY FINANCIAL NEWS
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on the picture below to see what is the key to support Indian Rupee
Indian rupee crisis: RBI raises inflation alert
India’s
inflation could accelerate in the current fiscal year due to the Indian rupee's
sharp depreciation. The Indian rupee touched record low of 65.52/dollar on
Thursday and is down 16 per cent so far this year despite efforts by
policymakers to prop it up.
The Bharatiya Mahila Bank
proposes to complete the first six branches at Mumbai, Delhi, Kolkata, Chennai,
Indore and Guwahati by October 15 and take the total to 25 by March 31, 2014.
Sebi widens fraudulent, unfair trade practices list
Sebi
has decided to tighten norms for tackling fraudulent and unfair trade practices
so as to hold individuals as well as market entities equally guilty for
manipulations by removing a regulatory lacunae.
FIIs withdraw Rs 6,000 cr from debt market in two weeks
Foreign investors have
pulled out almost Rs 6,000 crore (USD 962 million) from the Indian debt market
in a fortnight amid lack of clarity over tax norms for returns on such
investments and weakness in the rupee.
Low growth in India has implications for BRICS: Rob Davies
According to him, the
implications are that BRICS nations need to strengthen and consolidate their
partnerships so that they can establish a new growth trajectory in all of the
countries that will be mutually beneficial.
JP Morgan downgrades Indian shares, upgrades China
J P Morgan has downgraded
Indian shares to "neutral" from "overweight", citing strain
in balance of payments, while upgrading China shares to "neutral"
from "underweight".
The brokerage adds it is
late in downgrading India, but if the rupee continues to slide it would
continue to underperform.
Rules notified for FDI in multi-brand retail, new sectoral caps and ‘control’
The government notified
the decisions approved by the Cabinet earlier this month relating to FDI policy
for multi-brand retail, revision of FDI caps and routes across different
sectors and definition of ‘control’ for calculating total foreign investment
(both direct and indirect) in Indian companies.
Fitch warns of downgrade in India credit ratings if confidence falls further
India and Indonesia could
see their credit ratings lowered if their governments fail to halt the current
slump in investor confidence towards the countries, Fitch ratings said on
Thursday.
Rupee to strengthen to 60-61 by March: Crisil
The rupee is likely to strengthen to 60-61 level by this fiscal-end on
expectations of improvement in the current account deficit (CAD) and higher
inflows from overseas investors, according to analysts at Crisil.
RBI buys 78 per cent of Rs. 8000 cr bond buyback target
Early this week, the RBI
announced to undertake OMO after the 10-year government bond rose to a
five-year high at 9.47 per cent as the rupee breached the 64 mark against the
dollar. The step was aimed at managing liquidity conditions to ensure adequate
credit flow to the productive sectors of the economy.
EXPERT VIEW
Stop food security bill if you want to restore investor confidence
By Arun Shourie, Former disinvestment minister
A SNEAK PEAK INTO THE WORLD OF FINANCE
Let us see what all
measures are taken by the government and RBI to curb gold import – one of the
major reasons to drive rupee down. Click on picture below for slideshow to
begin
TEN TERMS OF FINANCE THAT YOU SHOULD KNOW
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