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  • Current CRR level optimal, no reason to move away: Raghuram Rajan | The Financial Express
    is to see whether rates in the call money markets are broadly in line with the policy rates and I think the evidence is that they are he had told reporters in the post policy conference We will look at the emerging liquidity needs and use all instruments to manage those he had said Reserve Bank today left the repo rate unchanged at 6 75 per cent and said a further easing will depend on structural reforms in the forthcoming Budget as well as macroeconomic factors When asked whether RBI can go for an inter meeting rate cut he said such cuts can happen when there is great sense of urgency First Published on February 3 2016 2 50 am Tags Raghuram Rajan Please Wait while comments are loading More on this story Banks Reserve Bank square off over cash shortages Interest rates not holding back economy says RBI Guv Raghuram Rajan Raghuram Rajan sees himself teaching in US in five years Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/current-crr-level-optimal-no-reason-to-move-away-raghuram-rajan/206207/ (2016-02-08)
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  • Balance sheet clean-up to allow banks focus on loan growth: RBI Guv Raghuram Rajan | The Financial Express
    joint lenders forum JLF and strategic debt restructuring SDR guidelines and the governor said that these norms will fine tuned Rajan said that calculations by some agencies which put stressed assets at 17 20 of total assets may be a little on the high side Broadly speaking we should be careful about treating of any stressed asset as a total write off as some of these assets need changes in terms or conditions and sometimes promoters and as the economy recovered it may be paid in fair amount of value he explained The RBI Rajan said wanted to give banks more powers before beginning the clean up exercise as there was no point pushing to clean up when powers were limited We have been giving powers to banks and now the time has come for full recognition he said In December Rajan had said that the central bank would want to put something like March 2017 on the table by when banks have to clean up their balance sheet First Published on February 3 2016 1 10 am Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/balance-sheet-clean-up-to-allow-banks-focus-on-loan-growth-rbi-guv-raghuram-rajan/206252/ (2016-02-08)
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  • RBI Monetary policy: A matter of perspectives | The Financial Express
    inflation While the RBI has indicated that it is ready to ignore any increase in inflation due to technical adjustments associated with the 7th CPC it would be wary of demand side pressures as the current underlying inflation momentum of 5 0 5 5 is already tracking next year s target with borderline possibilities Hence after the 125 bps prompt and anticipatory easing in 2015 the RBI is now likely to get into a reactive mode as far as inflation in concerned The growth perspective Despite substantial monetary easing revival in growth has been elusive so far Here the policy adopted by the RBI has been somewhat nuanced At one level the RBI has in unambiguous terms communicated the need for maintaining quality fiscal consolidation something which the government has delivered so far However with additional burden of salaries and pension in FY17 the same task is likely to get challenging In the upcoming FY17 Union Budget the government needs to reassert its policy priorities by persisting on quality fiscal consolidation job creation and also allow public capex to hand hold private investment in the near term Meanwhile the RBI should look to squeeze the available room for monetary accommodation We believe a scenario of negative output gap warrants keeping the real policy rate at the lower end of RBI s indicated band of 1 5 2 0 In addition the effort towards cleaning up bank balance sheets and past measures for easing infrastructure financing should complement anticipated structural measures from the government like the Bankruptcy Code in unlocking potential for higher growth The financial stability perspective In an environment of volatility the RBI has done a commendable job of maintaining domestic financial stability especially in the currency market However the combination of FX intervention structural currency leakage and government s effort to secure fiscal deficit sanctity has culminated in tightness in money market liquidity over the last 2 3 months This could potentially hamper the extent of monetary policy transmission The writer is chief economist Yes Bank First Published on February 3 2016 1 09 am Tags RBI Monetary Policy Please Wait while comments are loading More on this story RBI stance on expected lines Economic affairs secretary RBI monetary policy review Bond yields up as RBI holds rates RBI monetary policy review Positives are balanced by negatives says Raghuram Rajan Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/rbi-monetary-policy-a-matter-of-perspectives/206251/ (2016-02-08)
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  • RBI monetary policy review: Central bank lends policy support to start-ups | The Financial Express
    has also put a penalty structure in place in case delayed reporting of Foreign Direct Investments In addition there are certain provisions under consideration which include access to loan under External Commercial Borrowing issue of FDI instruments such as convertible loan instruments and streamlining of overseas investments in start ups One of the largest barriers restricting the growth and development of start ups in India is lack of funding from foreign venture capitalists According to a report by CB Insights and KPMG International venture capitalists funding in India dropped by 600 million during October December in 2015 to 1 51 billion RBI s initiatives are expected to help start ups to raise funds from foreign venture capitalists irrespective of the sector they are operating in Under the Start up India action plan the government will exempt entrepreneurs and VCs from capital gains taxes on sales of company s assets Harish HV partner at Grant Thornton India LLP said initiatives about ease of doing business are a very welcome step We look forward to further relaxations around convertible notes as promised These steps together with the Start up action plan and more initiatives expected from the Ministry of Corporate Affairs and of course the budget should help the cause of the Stay In India and creating value in India Amarjeet Singh partner tax at KPMG in India said proposals like permitting start up to access ECB issuance of innovative FDI instruments etc which are under consideration if goes through will improve investor participation and also help start ups to raise capital at low cost At the Start up India Stand Up India event on January 16 2016 entrepreneurs shared their grievances when filing approval for the business with the government and the regulatory roadblocks in the way but the Prime Minister s Start up India action plan announced later that evening and recent initiatives from the central bank are expected to relieve some pressure off their shoulders and provide the much needs boost to the start up industry in India First Published on February 3 2016 1 07 am Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/rbi-monetary-policy-review-central-bank-lends-policy-support-to-start-ups/206248/ (2016-02-08)
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  • RBI stance on expected lines: Economic affairs secretary | The Financial Express
    budget Das said The government continues to remain committed to the path of fiscal consolidation quality of expenditure maximising the revenue improving governance while ensuring projects are better implemented and growth is revived Present perfect Government reaffirms its commitment to the path of fiscal consolidation Current trends are largely on track to meet FY17 s 5 inflation target Implementation of 7th Pay Commission awards may put pressure of govt s finance Government said it will meet the fiscal deficit target for the current financial year First Published on February 3 2016 1 06 am Tags RBI Monetary Policy Please Wait while comments are loading More on this story RBI Monetary policy A matter of perspectives RBI monetary policy review Bond yields up as RBI holds rates RBI monetary policy review Positives are balanced by negatives says Raghuram Rajan Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/rbi-stance-on-expected-lines-economic-affairs-secretary/206246/ (2016-02-08)
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  • RBI monetary policy review: Bond yields up as RBI holds rates | The Financial Express
    market was expecting a rate cut which did not happen What really caused the yields to go up is the fact that future rate cuts might be doubtful considering that the RBI is waiting for further data points from the forthcoming Budget to decide on the inflation trajectory Moreover there was some lack of clarity in the policy statement as far as the liquidity easing measures or Open Market Operations by the RBI was concerned he said Rajan said in the post policy press conference that G sec yields are not just about policy but also about other factors as well Obviously expectations of inflation do come in and I believe expectations have fallen over time But other aspects also have an influence For instance clearly the supply demand for the G secs at a particular point in time does have some affect To that extent issues of liquidity issues of available purchasing institutions etc do matter he added Vijay Sharma senior executive vice president at PNB Gilts said the policy was a bit more hawkish than what the market was expecting A small section of market was expecting a rate cut whilst a large section was expecting concrete measures or intent to handle liquidity situation None of this was delivered On the contrary RBI seemed unperturbed at current liquidity situation as well as at the current long bond yields This further unnerved the market which is already grappling with a severe demand supply mismatch Sharma said State development loans close to R60 000 crore is set to hit the market over the next two months With such a supply coming in and a potential supply of discom bonds looming large G sec yields are coming under pressure according to bond market experts Northbound The 7 72 yields from ten year benchmark bond rose to their highest level since Aug 2015 The new 7 59 benchmark bond yields also rose to their highest level at 7 72 Govt announces repurchase of three short term government stocks worth R20 000 crore As on February 1 government s surplus cash balance stood at R1 23 lakh crore First Published on February 3 2016 1 03 am Tags RBI Monetary Policy Please Wait while comments are loading More on this story RBI Monetary policy A matter of perspectives RBI stance on expected lines Economic affairs secretary RBI monetary policy review Positives are balanced by negatives says Raghuram Rajan Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/rbi-monetary-policy-review-bond-yields-up-as-rbi-holds-rates/206245/ (2016-02-08)
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  • RBI monetary policy review: Positives are balanced by negatives, says Raghuram Rajan | The Financial Express
    with the policy rates and the evidence is that they are Now certainly because of a variety of aspects the amount of lending we are doing in the market through facilities has increased to offset some of the shortages for a variety of reasons But we are supplying that liquidity to the market So to argue that an enormous amount of liquidity shortage at this point is not consistent with the facts However we also take a view on the difference between the short term liquidity needs because of seasonal build up of government balances and long term liquidity needs which come from the need to expand the RBI s balance sheet at a steady pace We are looking into what those means for the instruments we use While in short term liquidity needs we use more short term instruments in long term liquidity needs we use open market operations currency reserve management and so on We will look at the emerging liquidity needs and use all instruments to manage those On G sec yields and factors which influence it You must remember that G sec yields depend on a confluence of factors First it depends on when one is tracking the G sec yield Remember anticipation of a cut comes in much earlier than the date we announce a cut So if you look from the middle of 2014 G sec yields have come down significantly since then So how much of the policy cuts in 2015 were anticipated and how much were not does matter If there was some anticipation then it was factored into the falling G sec yields But G sec yields are not just about policy Obviously expectations of inflation do come in and I believe expectations have fallen over time But other aspects also have an influence For instance the supply and demand for G secs at a particular point of time do have some effect To that extent issues of liquidity and available purchasing institutions do matter On rise in stalled projects If you look at the centre for monitoring Indian economy CMIE data for stalled projects it looked like it was coming down steadily And what has happened in the last couple of quarters it seems to have started picking up again That is a source of concern as the steady improvement we had seen seems to have been halted Now the government is taking measures to again reduce the stalled projects Prime Minister finance minister and minister of state for finance are all engaged and hopefully we will see it come down once again First Published on February 3 2016 12 57 am Tags RBI Monetary Policy Please Wait while comments are loading More on this story RBI Monetary policy A matter of perspectives RBI stance on expected lines Economic affairs secretary RBI monetary policy review Bond yields up as RBI holds rates Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/rbi-monetary-policy-review-positives-are-balanced-by-negatives-says-raghuram-rajan/206231/ (2016-02-08)
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  • Ahead of Budget 2015, Raghuram Rajan’s RBI snubbed key repo rate cut, but trimmed SLR | The Financial Express
    free policy rate to be 1 5 2 0 Raghuram Rajan said Raghuram Rajan said he expected banks to cut base rates as competition intensified However their stance was evident from Arundhati Bhattacharya chairman State Bank of India SBI said in the absence of a pick up for credit demand a cut in interest rates could take time RBI monetary policy review Highlights Repo rate under LAF unchanged at 7 75 SLR of SCBs reduced by 50 bps from 22 to 21 5 of their NDTL from February 7 ECR facility replaced with system level liquidity from February 7 Forex remittance limit enhanced to 250 000 per person from 125 000 Reinvestment of coupons in gilts by FPIs even when 30 billion cap utilised Future FPI investment in debt market only in paper with a minimum residual maturity of 3 years Easier norms for pricing instruments under FDI to encourage investments To permit stock exchanges to introduce cash settled Interest Rate Futures contracts on 5 7 Year and 13 15 year G Secs Domestic entities and FPIs will be allowed to take foreign currency positions in the USD INR pair up to 15 million per exchange New ownership or management of a company will merit an extension in date of commercial operation of an asset with no impact on asset classification In talks with Sebi to make it easier for conversion of debt into equity RBI guidelines expected in 3 months Allows banks to prospectively reverse excess provision in books when NPAs sold to ARCs and cash received exceeds the book value of the asset Evaluation for small and payment banks licences First Published on February 2 2016 3 34 pm Tags Raghuram Rajan Please Wait while comments are loading More on this story Banks Reserve Bank square off over cash shortages Interest rates not holding back economy says RBI Guv Raghuram Rajan Raghuram Rajan sees himself teaching in US in five years Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/ahead-of-budget-2015-raghuram-rajans-rbi-snubbed-key-repo-rate-cut-but-trimmed-slr/205814/ (2016-02-08)
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