Reserve Bank of India Governor D Subbarao today proposed to permit stock exchanges to offer currency futures contracts in currency pairs of Euro-Rupee, Yen-Rupee and Pound sterling-Rupee, in addition to the current Dollar-Rupee contracts.In his second quarter review of the monetary policy for 2009-10, Dr Subbarao told the bankers that the Dollar-Rupee currency futures contracts offered by three recognised...
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Reserve Bank of India Governor D Subbarao today proposed to permit stock exchanges to offer currency futures contracts in currency pairs of Euro-Rupee, Yen-Rupee and Pound sterling-Rupee, in addition to the current Dollar-Rupee contracts.In his second quarter review of the monetary policy for 2009-10, Dr Subbarao told the bankers that the Dollar-Rupee currency futures contracts offered by three recognised...
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Correspondent
Mumbai
Oct. 27: The RBI governor, Dr D. Subbarao’s, credit policy announcement for the second quarter 2009-10, looked benign on the surface with the CRR, repo and reverse repo rate and interest rate left untouched. But the sting was in the Part B in the regulatory measures of the policy document, a new format introduced by Dr Subbarao on Tuesday.
The...
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Bankers and economists do not expect Reserve Bank of India governor Duvvuri Subbarao to raise short-term interest rates when the central bank’s mandarins hunker down to review the monetary policy on Tuesday.However, they seem to be split on whether Subbarao will signal a tightening of the policy by starting to soak up excess liquidity within the system by raising the cash reserve ratio (CRR).Subbarao...
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Warning that the worst may not be over yet, the Reserve Bank of India (RBI) Governor, D. Subbarao, has said the global economic recession may not only continue through 2009 but could prolong beyond that. "Even with current levels of policy intensity, the trough of the global recession is not seen until the end of 2009 and could get pushed out further if the policy responses fail to gain traction,"...
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MUMBAI:Indian mutual fund (MF) houses, which manage short-term investments of banksaveraging over Rs 1,00,000 crore, are set to take a hit with leading banksfirming up plans to impose internal limits on suchinvestments.The plan to fixlimits on investments by banks in fixed-income funds comes just a day after RBIgovernor D Subbarao indicated to bank chiefs that lenders should improvegovernance norms...
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To increase banking penetration and promote financial inclusion, the Reserve Bank today relaxed branch opening norms for lenders while allowing more entities to work as business correspondents.Announcing the monetary policy, RBI Governor D Subbarao said that banks can now appoint kirana, medical shop owners, agents of small savings schemes, petrol pump owners, retired teachers among others as correspondents.This...
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Concerned over creeping inflation, India's central bank today slightly tightened its monetary policy for this fiscal while retaining most policy rates, with signs of an industrial recovery providing the necessary cushion.A hike of 100 basis points in the statutory liquidity ratio, while maintaining status quo on all other policy rates and reserve ratios were the key points of the half-yearly review...
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increase banking penetration and promote financial inclusion, the Reserve Bank today relaxed branch opening norms for lenders while allowing more entities to work as business correspondents. Announcing the monetary policy, RBI governor D Subbarao said that banks can now appoint kirana, medical shop owners, agents of small savings schemes, petrol pump owners, retired teachers among others as correspondents. This...
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Children from different parts of the country will assemble in the holy city from tomorrow to spread the message of peace and communal harmony.A large number of children between the age group of 8 to 12 yrs have already arrived here to participate in the six days 'Ganga Bal Anand Mahotasava' organised by Rashtriya Yuva Yojana in New Delhi.The Director of the Yojana and eminent Gandhian, Dr S N Subbarao,...
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