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 the rupee.
Lending rates fall some more, private banks lead push
Fresh rupee loan rates dipped in February, with private banks leading the decline. However, public sector banks increased their lending rates. The easing on outstanding