Day: December 22, 2023

RBI’s forward book slides into negative zone after three years

The RBI’s net outstanding forward book – it represents proprietary dollar sales or purchases for a future date – turned negative in October. Mint Road is obligated to sell $14.6 billion dollars, latest data showed. The last time the forward book was in negative zone was in July 2020.

Sebi probing Burmans’ Religare offer

In a December 20 letter reviewed by ET, Sebi asked Religare for “complete details and sequence of events, starting from the time of first discussion regarding the open offer transaction till the stock exchange announcement dated September 25, 2023.”

DRI initiates probe into parts imports by wind energy companies

The government offers several fiscal and financial incentives, including customs duty concessions, on certain components of wind-driven generators. Typically, companies have to furnish a list of equipment to the Ministry of New and Renewable Energy. These can be imported duty free after the ministry approves. The latest probe is in connection with “under declaration of […]

FPIs’ India assets top $700 billion with robust inflows in 2023

The total FPI inflow at $ 20.2 billion in 2023 so far is the highest in four years. It is the fourth instance when FPIs have poured in more than $20 billion in Indian equities in a year. Asia’s third largest economy has received the largest inflow among the emerging markets in the current year.

Self-regulatory bodies must help boost compliance, not just lobby: RBI

The Reserve Bank of India (RBI) has called on all self-regulatory organizations (SROs) from various sectors to focus on ensuring better compliance, safeguarding stakeholders’ interests, and identifying early warning signals. The central bank outlined common objectives, functions, eligibility criteria, and governance standards for all SROs, emphasizing their role as allies in regulatory compliance, sector development, […]

Does IMF view on exchange pate policy matter to India?

The International Monetary Fund (IMF) recently reclassified India’s exchange rate regime as ‘stable’ instead of ‘floating.’ However, the Reserve Bank of India (RBI) disputes this reclassification. The IMF claims that from December 2022 to October 2023, the RBI maintained exchange rate stability by intervening in the currency market, deviating from market-driven conditions as per its […]

Revival in IT stocks likely to continue in new year

While Accenture’s latest growth guidance is indicating a subdued near-term outlook for the sector, fund managers and analysts said the US central bank’s dovish tilt has reduced the risk of earnings downgrades. The next big trigger for the sector would be signs of deal wins by IT firms, they said.