“The RBI sent a draft to the ESMA in the first week of July, there are some dilutions in the language, but they have not made any relaxations on the sticking point, which is the right to audit, inspect and potentially levy fines on the CCIL,” a source aware of the development said.
Global bond market volatility fueling shift towards Asia-Pacific equities: Manishi Raychaudhuri
After a strong rally in Asian markets, particularly India, a breather is expected due to high valuations and downward revisions in earnings estimates for fiscal