State-owned insurer Life Insurance Corporation may consider joining RBI efforts to rescue Yes Bank. The minimum investment for SBI would be Rs5,500 crore if it picks 26 per cent stake in Yes Bank.
India’s cabinet has approved a rescue plan for Yes Bank, the finance minister said on Friday, as authorities look to prevent a broader banking crisis.
Indian stock markets erased all their initial gains on Friday, with the BSE Sensex closing 131.18 points lower, although the Reserve Bank of India (RBI) announced an emergency rate cut of 75 basis points.
India’s central bank slashed interest rates in an emergency move on Friday to counter the economic fallout from the coronavirus pandemic after the federal government locked down the country in order to slow the spread of infections across the region.
India’s foreign exchange reserves plunged by $5.34 billion during the week ended March 13. According to the RBI’s weekly statistical supplement, the overall forex reserves,
The Reserve Bank of India (RBI) announced it would purchase government securities worth Rs10,000 crore through open market operations in a bid to increase liquidity and enhance confidence in the market amid the coronavirus crisis.
In a bid to ease the US dollar requirements of open market, the Reserve Bank of India (RBI) decided to conduct a six-month swaps worth $2 billion to provide liquidity to the foreign exchange market (forex).
The Reserve Bank of India on Friday announced it would undertake additional purchase of government securities worth Rs30,000 crore through open market operations (OMO) in a bid to increase liquidity and enhance confidence
India’s foreign exchange reserves rose by $4.235 billion during the week ended May 8th, RBI data showed on Friday.