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<ul><li>The Reserve Bank of India (RBI) Governor <keyword id="6359111" type="UNKNOWN" weightage="20" keywordseo="Shaktikanta-Das">Shaktikanta Das</keyword> was doling out optimism to the market at today’s Monetary Policy Committee (<keyword id="6369693" type="UNKNOWN" weightage="20" keywordseo="MPC">MPC</keyword>) briefing. </li><li>The MPC will be expanding the limit of open market operations (OMOs), providing on-tap TLTRO of ₹1 lakh crore, and introducing State Development Loan (SDL) OMOs.</li><li>While these measures may ease some tensions in the short run, the markets still seek predictability and interest rate cuts. </li><li>Das said that both the apex bank and markets can operate in the same space in competition without necessarily being combative. </li></ul>The Reserve Bank of India (RBI) Governor Shaktikanta Das delivered a <a href="https://www.businessinsider.in/policy/economy/news/rbis-mpc-keeps-the-policy-rates-unchanged-to-maintain-accommodative-stance-for-inflation/articleshow/78566955.cms">chipper note</a> on India’s recovery today. According to him, even though there’s some disconnect between the RBI and the markets, all will be well — soon. However, what the market participants want is for the RBI to acknowledge that the economy is in deep trouble and, therefore, cut interest rates further, boost money supply, and ease credit. <div type="Article" hostid="261" msid="78566955" title="RBI says it has decided to 'look through' the current 'high inflation' as it won’t last long⁠ but leaves interest rates unchanged" mstype="2" mssubtype="0"></div> The deep contraction of economic growth witnessed in the first quarter is behind us, he said, while emphasising that some silver linings are already visible. However, not all that glitters is gold. “We remain circumspect about generalising these early greenshoots, as they have benefitted from base effects and one-off shifts in some sectors,” said ratings agency ICRA. Despite Governor Das’ attempt to ease those tense nerves in the market, the argument seems far from over. “The <keyword id="64190" type="POSITION" weightage="20" keywordseo="RBI-Governor">RBI governor</keyword>'s push for optimism is bordering on the edge of hope,” said Sushil Kedia, the founder of KEDIANOMICS. “What's going to happen over the next one month or three is anybody’s guess.” <div type="image" title="India gdp by quarter" msid="78574635" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#39;s GDP numbers over the last two years and RBI&amp;#39;s expectations for the second half of the fiscal year&amp;lt;/p&amp;gt;"></div> The question to ask here is not who is right and who is wrong, but what happens if any one of them is wrong. If the markets are wrong and the economy recovers by March 2021, they will be in for a surprise. However, if the RBI is wrong and the economy is worse off than the picture painted by the Governor, the implication may be more dire for everyone in the country. Not just growth, RBI hopes the inflation wave will also ebb on its own “MPC has decided to look through the current inflation as a transient hump,” Governor Das explained, adding that inflation will ease between January and March next year. However, Kedia is less sanguine than the RBI Governor. “The interest rate cycle has been so overstretched and soft for so long, that I do see signals in long term data analysis, that at any point far sooner than one would expect, some global events will start reversal of the interest rate cycle,” he said. <div type="image" title="INflation india (1)" msid="78574672" hostid="261" caption="&amp;lt;p&amp;gt;Inflation in India since the outbreak of the coronavirus pandemic in the country&amp;lt;/p&amp;gt;"></div> “The relative economic growth differential between China and the rest of the world is almost 13-14%,” he added. The point Kedia is making is that if inflation rises in the rest of the world, even India will have to raise interest rates to tackle the prices, and the RBI is not preparing for it. While not the most obvious possibility, only time will tell if Kedia’s fear is proven right. RBI’s efforts have been lauded but in parts While the RBI has opened the liquidity taps time and again, a big concern in the market is that both central and state governments need to borrow more and more to meet the rising expenses due to the pandemic. The RBI said that it would buy long-term bonds — issued by both states and the centre — on tap worth ₹20,000 crore, up to ₹1 lakh crore in the coming days. <div type="image" title="india govt debt" msid="78574919" hostid="261" caption="&amp;lt;p&amp;gt;Indian government owes lenders more than &amp;#8377;101 trillion&amp;lt;/p&amp;gt;"></div> That would provide the money states need, but it will also mop up the funds that would have otherwise been available for private borrowers. In these challenging times, it is believed that lenders would rather give money to a government than risky private parties. And that would mean that the borrowing rates for private companies will remain higher than what it should have been. “It also remains to be seen if the commitment to facilitate state and central government borrowing, as well as the explicit signals aimed at softening yields, are adequate for bond markets to shrug off concerns regarding the fiscal health of the central and state governments,” ICRA pointed out. Back to the demand for another rate cut Essentially, private borrowers are back to seeking interest rate cuts, which the RBI seems reluctant to execute at this point. “These (measures announced today) should be beneficial for banks who are comfortable with the credits of corporates to lend as banks' borrowing rates are fixed. In case the repo rates are cut again, banks can refinance at lower rates also,” said Murthy Nagarajan, the head of fixed income at Tata Mutual Fund. <div type="image" title="Copy of TCS share price 2" msid="78575065" hostid="261" caption="&amp;lt;p&amp;gt;Nifty 50 closes above 11,900 points after RBI&amp;#39;s announcement today&amp;lt;/p&amp;gt;"></div> Instead of directly cutting rates, the RBI has offered up open market operations (OMOs), which — according to Abhishek Goenka, the founder and CEO of India Forex Advisors (IFA) — will help bring borrowing rates down in the commercial paper market. OMOs are conducted by the central bank to give or take currency from a bank or group of banks by buying or selling government bonds on the open market. It’s an instrument banks can use to increase or shrink liquidity in the market. “RBI was doing OMOs on an ad hoc basis,” explained Goenka, essentially saying that while RBI may be taking necessary steps, they haven’t been very predictable. And markets hate surprises. <div type="image" title="Copy of nifty50" msid="78575238" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#39;s 10-year bond yeilds over the last one month&amp;lt;/p&amp;gt;"></div> Until September 30, it wasn’t clear how cash-strapped state governments would find the money to meet the additional expenses in the wake of the pandemic. The markets are glad that RBI has opened up the emergency borrowing window — called ways and means advances or WMA — <a href="https://www.businessinsider.in/policy/economy/news/india-leaves-borrowing-calendar-unchanged-target-remains-at-12-lakh-crore/articleshow/78407506.cms">until the end of the fiscal year by 60%</a>. WMA essentially means that governments can borrow directly from the RBI to meet their emergency needs. That leaves more money in the market for private borrowers. While the decision came just in time, there was enough fear and chaos in the run-up to it. What the markets want are predictability and interest rate cuts. Meanwhile, the Governor has asked the market to keep the faith. “We look forward to cooperative solutions for the borrowing program for the second half of the year… These views can be competitive without being combative,” he said. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/rbis-mpc-keeps-the-policy-rates-unchanged-to-maintain-accommodative-stance-for-inflation/articleshow/78566955.cms">RBI says it has decided to 'look through' the current 'high inflation' as it won’t last long⁠ but leaves interest rates unchanged</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-beats-accenture-to-become-the-worlds-most-valuable-it-services-company/articleshow/78566487.cms">TCS beats Accenture to become the world’s most valuable IT services company — but this not the first time it has raced ahead</a> <a href="https://www.businessinsider.in/india/news/union-minister-ram-vilas-paswan-dies-at-74/articleshow/78558640.cms">India's consumer affairs minister Ram Vilas Paswan passes way at 74</a> <a href="https://www.businessinsider.in/science/space/news/mars-will-appear-bigger-redder-and-brighter-on-october-13-and-wont-get-this-close-to-earth-again-until-2035/articleshow/78556539.cms">Mars will appear bigger, redder, and brighter on October 13 — and won’t get this close to Earth again until 2035</a>

RBI Governor wants markets to keep the faith but traders want something more

New Delhi, Mar 6 () The RBI superseding the board of Yes Bank casts light on governance risks in India's banking sector, Fitch Ratings said on Friday.Fitch said there is a risk that the already poor operating environment for the banking sector could suffer further impairment if the government's efforts to tackle problems in the bank fail to provide reassurance to depositors and investors."The Reserve Bank of India (RBI) takeover of Yes Bank casts light on governance risks in India's banking sector," Fitch Ratings, which has a negative outlook on India's banking sector, said in a statement.The central bank's takeover of Yes Bank appears intended to restore depositor confidence."However, we believe that there is a risk that the RBI's move could backfire if it prompts depositors to shift their money to institutions that are perceived to be safer. This could pose liquidity challenges, particularly for smaller private banks with weaker franchises or more limited access to support from parent entities," Fitch added.The global rating agency said it is also possible that the domestic wholesale debt markets may experience another crisis of confidence, resulting in a tightening of financing conditions. "This could overshadow the central bank's recent efforts to boost liquidity in the system, and thereby expose non-bank financial institutions and the real estate sector to further pressures," it said.Stating that the speed of the authorities' resolution of the situation at Yes Bank is likely to be an important factor in determining the reaction of depositors and financial markets, it said the onus ultimately falls on the regulator to orchestrate the process under powers provided by the RBI Act, which outlines voluntary or forced mergers as the available options.Yes Bank is a medium-sized private sector bank, which accounts for around 2 per cent each of system assets and deposits. The bank ran into trouble following the central's bank's asset quality reviews in 2017 and 2018, which led to sharp increases in its impaired loans ratio and uncovered significant governance lapses that led to a complete change of management. The bank subsequently struggled to address its capitalisation issues, against a background of sluggish economic growth and a tougher financing environment, Fitch added.The Reserve Bank on Thursday imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account and superseded the board of the private sector lender with immediate effect.Yes Bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.As per RBI's draft reconstruction scheme, State Bank of India will pick up 49 per cent stake in the crisis-ridden Yes Bank under a government-approved bailout plan. JDMKJ

Crisis at Yes Bank highlights governance risk in India's banking sector: Fitch

Mumbai, Apr 27 () The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt schemes. In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom. The stress is, however, confined to the high-risk debt MF segment at this stage; the larger industry remains liquid, it said. "With a view to easing liquidity pressures on MFs, it has been decided to open a special liquidity facility for mutual funds of Rs 50,000 crore," it said. The Reserve Bank of India (RBI) also stressed it remains vigilant and will take whatever steps are necessary to mitigate the economic impact of COVID-19 and preserve financial stability. NKD CS ANSANS

RBI announces Rs 50,000 cr special liquidity facility for mutual funds

New Delhi, Oct 10 (IANS) The Reserve Bank's accommodative policy along with a likely US stimulus package are expected to strengthen the Indian rupee in the short-run. Additionally, fund inflows channelled towards stock markets and corporate deals will be other factors for the rise in the rupee's value, cited analysts. However, the upcoming US elections along with domestic macroeconomic inflation data might dampen sentiments. "The policy outcome had a knee-jerk reaction on the USDINR spot and dropped close to the strong support zone of 73. With the optimism over the US fiscal stimulus deal, we expect a corrective leg towards 72.75 zones in the USDINR spot," said Rahul Gupta, Head of Research-Currency at Emkay Global Financial Services. "However, the downside is limited as we head towards the US election and that there could be plenty of political uncertainties down the road. So for next week, we expect the USDINR spot to trade within 72.75-73.50 levels." Last Friday, the Reserve Bank made an expected move by retaining key lending rates, but cheered investors and home buyers by giving a liquidity boost and an optimistic outlook. The RBI said it will resort to on-tap long-term repo operations and open market bond purchases to ensure liquidity in the banking system. It has also eased capital requirements on home loans to spur lending to the real estate sector. "The aggressive accommodative policy of the Central bank supported bond and rupee. The weakness in dollar index, stronger domestic equities and foreign fund inflows altogether backed rupee gains," said Devarsh Vakil -- Deputy Head of Retail Research at HDFC Securities. "For next week US fiscal stimulus negotiations and opinion polls of the US presidential election will drive the currency markets. Spot USDINR is having resistance at 74 and support at 72.90 for the next week." The Indian rupee had ended the week on a flat note at 73.13 to a US dollar. Besides, the macroeconomic data point of the Consumer Price Index (CPI) for September will be released on October 12. According to Sajal Gupta, Head, Forex and Rates, Edelweiss Securities: "Liquidity and hope of a stimulus along with inflow of Reliance Retail money bodes well for the currency markets." "With RBI promising to maintain lower yields would also be helpful for both equity, forex and bond markets. Expect all the three asset classes to behave positively in the next few weeks. Rupee should now move towards 72." (Rohit Vaid can be contacted at rohit.v@ians.in) --IANS rv/sn/dpb

RBI's accommodative policy, US stimulus hopes to strengthen rupee (IANS Rupee Forecast)

New Delhi, Apr 27 () Shares of asset management companies (AMCs) and other financial sector related firms zoomed up to 12 per cent on Monday after the Reserve Bank of India announced a Rs 50,000 crore special liquidity facility for mutual funds.RBI's announcement follows Franklin Templeton Mutual Fund's move to close six debt schemes amid liquidity crunch.Nippon Life India Asset Management jumped 11.38 per cent and HDFC Asset Management Company gained 5.26 per cent on the BSE.Other financial stocks also witnessed demand, with ICICI Prudential Life Insurance Company rising 12.20 per cent, Max Financial Services 8.32 per cent, Manappuram Finance 6.86 per cent, HDFC Life Insurance Company 6.84 per cent, The New India Assurance Company 6.53 per cent and Mahindra &amp; Mahindra Financial Services 2.28 per cent.The BSE Finance index gained 2.09 per cent at close of trade."The Indian markets had a promising start to the week largely led by a surge in banking and financial stocks following RBI's liquidity support to the stressed mutual funds," Ajit Mishra, VP - Research, Religare Broking Ltd said.Shares of RBL Bank advanced 9.16 per cent, IndusInd Bank 6.33 per cent, Kotak Mahindra Bank gained 5.15 per cent, Axis Bank rose by 5.74 per cent, ICICI Bank 3.85 per cent and State Bank of India 0.64 per cent.The BSE Bank index closed the day with 2.88 per cent gain.In a statement, the central bank said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.The stress is, however, confined to the high-risk debt MF segment at this stage and the larger industry remains liquid, it said."With a view to easing liquidity pressures on MFs, it has been decided to open a special liquidity facility for mutual funds of Rs 50,000 crore," it said.Meanwhile, the domestic stock market closed on a positive note with the BSE benchmark index gaining 415.86 points or 1.33 per cent at 31,743.08."This is more of a confidence-boosting measure. This should help settle some of the panics that was caused over the weekend over the FT news," said Ashish Shanker, Head of Investments, Motilal Oswal Private Wealth Management. SUM RUJ

AMCs, financial stocks jump up to 12 pc after RBI announces Rs 50k cr liquidity facility for MFs

India’s central bank <a href="https://www.businessinsider.in/finance/news/indias-central-bank-hikes-interest-rates-by-50bps-to-4-9/articleshow/92073644.cms">Reserve Bank of India raised its repo rate </a>for the second consecutive month, from 4.4% to 4.9% on Wednesday. After a small jump in May by 40 basis points, <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> hiked the interest rate by another 50 basis in its bid to fight inflation. For the month of April, the<a href="https://www.businessinsider.in/finance/news/indias-central-bank-hikes-interest-rates-by-50bps-to-4-9/articleshow/92073644.cms"> consumer price inflation</a> touched 7.8%, burning a hole in common man’s pockets. But why exactly is the Indian central bank hiking interest rates? How does it reduce the burden of expenses on common people like you and I? Let’s find out. <div type="image" title="Wondering where all your money went?" msid="92115914" hostid="261" caption="&amp;lt;p&amp;gt;Wondering where all your money went?&amp;lt;/p&amp;gt;"></div> What is <keyword id="102335" type="General" weightage="100" keywordseo="repo" source="Orion">repo</keyword> rate? Before we dive into this, let’s understand what exactly repo rate is. Repo rate stands for ‘repurchasing option or repurchase agreement.’ It is the rate at which commercial banks and financial institutions like SBI, ICICI Bank, HDFC Bank and others borrow money from the central bank. <div type="image" title="Repo rate agreement" msid="92115941" hostid="261"></div> Why is repo rate increased? If the RBI expects that inflation will rise beyond its tolerance limit, it hikes the rate at which banks borrow money from the central bank. Over the past three months, retail inflation numbers have remained above the RBI’s upper tolerance limit of 6%. The last time inflation was below 4% was before the global pandemic in 2019. When the repo rate increases, the cost of borrowing for banks also increases, which is passed to their account holders by increasing the interest rate on loans and deposit rates. This also makes borrowing money from the bank a costly affair, which in turn slows down investment and money supply in the market. <div type="image" title="How does increase in repo rate affect inflation" msid="92115926" hostid="261" caption="&amp;lt;p&amp;gt;How does increase in repo rate affect inflation&amp;lt;/p&amp;gt;"></div> As a result, it limits money supply and brings down the purchasing power of <keyword id="60468" type="General" weightage="20" keywordseo="consumers" source="Orion">consumers</keyword>, which helps in controlling inflation. The repo rate is reduced when the government intends to infuse money into the market and support economic growth, as it did during the lockdown. In fact, RBI had not increased the repo rate for nearly 4 years until last month. How a small increase in repo rate affects you A small hike in repo rate makes borrowing from the commercial banks expensive. Home loan, vehicle loan, education loan, personal loan, business loan, credit cards, mortgages are all influenced by the rate hike. When the borrowing cost increases, the common man is discouraged from making unnecessary purchases, thereby reducing the demand for goods and services. This kicks off a chain reaction, leading to a reduction in prices and thereby, the inflation. This is simply a game of demand and supply, with the repo rate acting as a catalyst. <div type="image" title="Repo rate is still below pre-pandemic levels" msid="92115961" hostid="261" caption="&amp;lt;p&amp;gt;Repo rate is still below pre-pandemic levels&amp;lt;/p&amp;gt;"></div> On the other hand, people who have savings and have a fixed deposit, for example, <a href="https://www.businessinsider.in/finance/news/why-a-rate-hike-is-not-all-bad-news-for-you-and-how-you-can-take-advantage-of-rising-interest-rates/articleshow/92029328.cms">will benefit from an increase in interest rates</a>. A poll run by <a href="https://bit.ly/3nD94g5">Stocktwits </a>shows that banking stocks might also benefit from the hike in repo rate. <div type="image" title="How will banking stocks perform after RBI&amp;#39;s rate hike?" msid="92115982" hostid="261" caption="&amp;lt;p&amp;gt;How will banking stocks perform after RBI&amp;#39;s rate hike?&amp;lt;/p&amp;gt;"></div> Ripple effects of hike in repo rate When borrowing business loans becomes expensive, businesses either reduce or freeze hiring, leading to unemployment. Consumers also put a pause on buying all luxury items including vehicles, which affects the auto industry. The real estate sector, which was witnessing good pickup in sales due to the low cost of financing, could be impacted by RBI’s rate hike move. As banks increase their interest rate, it will result in a further rise in equated monthly instalments (EMIs) for existing borrowers and <a href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms">dent new homebuyer’s confidence.</a> Low-interest rates are unlikely to come back as the Indian government predicts that the country’s economy will take at least <a href="https://www.livemint.com/news/india/india-s-economy-to-overcome-covid-losses-in-fy35-recovery-remains-stimulus-dependent-rbi-11651238870034.html">12 years</a> to overcome the setback from Covid-19. It said that the ongoing structural changes catalysed by the pandemic can potentially alter the growth trajectory in the medium-term. Higher interest rates and inflation put the common man in a soup The war in Ukraine significantly increased the common man’s woes. It elevated commodity prices due to geopolitical tension and affected the global supply-chain, tightening financial conditions globally. As a result, due to curbs on imports and high demand for essential commodities, everything from food and beverages to clothing and accessories is expensive today. The common people of India were already struggling to manage their daily expenses with limited purchasing power on a minimum wage. Due to this soaring inflation, consumers are further losing purchasing power, which is a measure of how many goods or services you can buy with a unit of currency, at a <a href="https://www.cnbc.com/2022/05/11/how-fast-does-inflation-cut-buying-power-heres-a-simple-guide.html">faster-than-usual rate</a>. While the current repo rate of 4.9% is still not as high as the pre-pandemic level of 5.15%, the common man will feel the pinch because of higher consumer inflation. <div type="image" title="RBI has revised inflation estimates for FY23" msid="92116013" hostid="261" caption="&amp;lt;p&amp;gt;RBI has revised inflation estimates for FY23&amp;lt;/p&amp;gt;"></div> If the inflation rate continues to increase despite the recent changes in repo rate, RBI will resort to hiking it again in a few months to keep inflation in check.

SIMPLY PUT: How RBI’s repo rate hikes affect consumers

<ul class="summary-list"><li>Raiffeisen Bank's Russian exit strategy has drawn scrutiny from Washington, Reuters reported.</li><li>Shares in the bank fell as much as 16% Wednesday, as the planned deal could potentially lead to sanctions.</li></ul>An Austrian bank's plan to repatriate $1.6 billion in assets still stuck in Russia is facing US pushback, on concern that the deal would breach Western sanctions.The Raiffeisen Bank International remains the biggest foreign-owned lender remaining in the country, as efforts to sell or spin off its Russian unit have struggled since Moscow's tightened <a href="https://www.businessinsider.in/policy/economy/news/russia-says-it-will-not-let-foreign-banks-exit-the-market-easily-unless-they-unfreeze-russian-assets/articleshow/103343059.cms" target="_blank" rel="noopener">exit requirements</a> on foreign firms. The dealer offered a <a href="https://www.reuters.com/markets/deals/austrias-rbi-take-28-stake-strabag-effort-shed-russia-exposure-2023-12-19/" target="_blank" rel="noopener">new strategy</a> in December, planning to purchase shares in an Austrian construction company Strabag, originally held by Russian businessman Oleg Deripaska. The 28% stake would be facilitated through Raiffeisen's Russian subsidiary, after which the holdings would transfer to Vienna. The idea was touted as a way to unlock a portion of assets frozen in Russia, worth billions of euros.But according to a <a href="https://www.reuters.com/markets/deals/austrias-rbi-take-28-stake-strabag-effort-shed-russia-exposure-2023-12-19/" target="_blank" rel="noopener">Reuters report</a> on Wednesday, the deal is facing scrutiny from Washington. That's as Deripaska is <a href="https://www.justice.gov/opa/pr/russian-oligarch-oleg-vladimirovich-deripaska-and-associates-indicted-sanctions-evasion-and#:~:text=In%20designating%20Deripaska%2C%20OFAC%20explained,of%20the%20Russian%20Federation%20economy." target="_blank" rel="noopener">sanctioned</a> for potential links to the Kremlin, making the transaction a possible breach of Western restrictions. US officials have demanded details behind the individuals and entities related to the arrangement; if the deal is found to violate US sanctions and Raiffeisen was still to proceed with the plan, it could face its own penalties, sources told the outlet.In a <a href="https://www.rbinternational.com/en/investors/news/ir-releases.html" target="_blank" rel="noopener">statement</a> published by Raiffeisen on Wednesday, the bank pushed back against what it called the "Reuters rumours," noting that it has verified compliance and briefed US authorities."Furthermore, it was acknowledged that there is no US nexus to this transaction. It goes without saying that RBI will not proceed with any deal which would be in breach of sanctions, or expose RBI to the risk of sanctions," it said.Following the Reuters report, shares in the company dropped as much as 16%. The "adverse market reaction" forced the bank to postpone a 650 euro bond sale on the same day, the outlet said, citing a memo it had seen.Aside from Raiffeisen, the US has been <a href="https://www.businessinsider.com/russia-economy-financial-system-us-sanctions-oil-trade-foreign-banks-2024-3">stepping up pressure</a> on foreign banks that continue to facilitate transactions with Russia. Beyond Austria, that's included lenders in countries such as Saudi Arabia and Turkey.

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RBI Governor wants markets to keep the faith but traders want something more

Prabhjote Gill

Crisis at Yes Bank highlights governance risk in India's banking sector: Fitch

PTI

RBI announces Rs 50,000 cr special liquidity facility for mutual funds

PTI

RBI's accommodative policy, US stimulus hopes to strengthen rupee (IANS Rupee Forecast)

IANS

AMCs, financial stocks jump up to 12 pc after RBI announces Rs 50k cr liquidity facility for MFs

PTI

SIMPLY PUT: How RBI’s repo rate hikes affect consumers

The US is pressuring the biggest Western bank in Russia to cancel a $1.6 billion industrial investment

Filip De Mott

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