Bank stocks fall up to 3% as RBI forex clampdown sparks Rs 4,000 crore loss fear
Banking stocks fell up to 3% after RBI imposed stricter forex position limits, raising concerns over potential mark-to-market losses of Rs 4,000 crore. Analysts warn unwinding large arbitrage trades could hit Q4 earnings, though some market participants believe earlier gains may offset part of the impact.
Explained: How RBI’s safety net to protect falling rupee could mean Rs 4,000 crore shock for banks
The Reserve Bank of India has stepped in to halt the rupee’s fall. This move forces banks to unwind dollar positions, potentially leading to a Rs 4,000 crore loss for the banking sector. Banks had profited from differences in dollar rates between local and offshore markets. The RBI’s action aims to curb one-sided bets against […]
Oil Price Today (March 30): Oil jumps 3% to near $120 amid expectations of US ground offensive in Iran. What lies ahead?
Oil prices surged on Monday amid escalating Middle East tensions, with Brent crude nearing $120 per barrel. Concerns over a potential US ground offensive in Iran, Iran-aligned Houthis attacking Israel, and supply disruptions drove the rally. Analysts warn prices could hit $200 if the conflict prolongs, while $80 may become the near-term norm.
Brent heads for record monthly jump as Iran conflict widens
Oil prices surged Monday as Yemeni Houthis attacked Israel, escalating the Middle East conflict. Brent crude neared record monthly gains, driven by fears of disrupted shipping lanes in the Red Sea and Bab el-Mandeb. Saudi exports are rerouting, with potential disruptions impacting global supply. Ceasefire talks are underway amidst rising tensions.
Sai Parenteral’s IPO allotment likely today: Check status, GMP, other details
Sai Parenteral’s IPO share allotment is expected today, with investors able to check their status on BSE or the registrar’s website. The issue was subscribed 1.05 times, driven by non-institutional investors, while retail interest was low. The stock is slated for listing on April 2.
India unleashes curbs on rupee bets as intervention costs swell
India’s central bank is implementing forceful new rules to curb speculative bets against the rupee, capping banks’ open positions at $100 million daily. This shift from direct intervention aims to stabilize the currency amid record lows driven by the Iran war, which has drained foreign-exchange reserves.
Global Market Today | Stocks dive in Asia, brent crude heads for record monthly rise
Asian markets tumbled as investors braced for a prolonged Gulf conflict, driving oil prices to record monthly gains and fueling global inflation fears. President Trump’s remarks on potential U.S. actions against Iran’s oil exports added to market jitters, while Pakistan prepared for peace talks. The conflict’s impact on energy and commodity prices is expected to […]
RBI’s currency defence could leave banks paying the price
The Reserve Bank of India has introduced a bold new daily limit on the open rupee positions held by banks, aiming to counteract the rupee’s weakening trend versus the dollar. As a result, banks are now required to trim their dollar assets and offload US currency.
MTM losses likely for lenders as yields on govt bonds hit 12-month high
Rising sovereign bond yields are expected to cause significant mark-to-market losses for banks in the March quarter. Despite RBI’s open market operation purchases, escalating geopolitical tensions and inflation concerns have pushed 10-year government bond yields to a 12-month high, impacting bank portfolios.
SFIO summons former top executives of IndusInd Bank in accounting probe
The Serious Fraud Investigation Office is investigating IndusInd Bank’s accounting irregularities. Key former executives have been summoned for questioning. This probe follows earlier findings by auditors and forensic reports. Meanwhile, Mumbai Police’s Economic Offences Wing is nearing the closure of its preliminary inquiry, finding no evidence of fund diversion.