The Reserve Bank on Thursday deferred implementation of its directions on exchange traded currency derivatives (ETCD) linked to rupee by a month to May 3 in view of feedbacks received from stakeholders. A circular issued on January 5 on ‘Risk Management and Inter-Bank Dealings — Hedging of Foreign Exchange Risk’ was earlier scheduled to come into effect from Friday (April 5, 2024). In a statement, the Reserve Bank of India (RBI) emphasised that the regulatory framework for ETCDs has remained consistent over the years and that there is no change in the RBIs policy approach.
Posts in category Business Standard
Organic Recycling Systems signs MoA with BioCatalyst (04-04-2024)
To collaborate on waste management solutions in Middle East region
ABB’s AquaMaster deployed across 15 cities in India (04-04-2024)
ABB’s AquaMaster electromagnetic flowmeters were first introduced in India 20 years ago with the first installation in the city of Bengaluru. Today, there are approximately 500 units in operation in the city, helping the water utility with accurate flow measurement. ABB has supplied the AquaMaster to 15 cities spread across 8 states. Over the years, the association that started with Bengaluru has grown with approximately 2000 units operating in the country, in states such as Gujarat, Rajasthan, Odisha, New Delhi and more.
Indices rebound after early wobble, banks and IT lead gains (04-04-2024)
Domestic stocks advanced on Thursday, with the Nifty closing above 22,500 despite morning jitters. Weekly options expiry kept things volatile, but bank and IT stocks provided a lift. Investors are now on watch for the RBI’s policy decision tomorrow, hoping for clues on future interest rates. The broader market seems to be finding support in sectors like banks, anticipating healthy Q4 results, and exporters, buoyed by strong business activity signals from the PMI data.
Trucap Finance achieves AUM of Rs 1000+ cr (04-04-2024)
This achievement has been driven by multi-fold factors including its expanding network of 122 branches which provides wide geographical coverage, focused around MSME hubs. The company has been investing in on-ground outreach initiatives, improving customer service, as well as
expanding opportunities with its Lending-as-a-Service or L-A-A-S partners.
Royal Orchid Hotels signs revenue sharing agreement with MASA Hotels (04-04-2024)
For its upcoming 300 room 5-star hotel in Mumbai
LTIMindtree partners with Aforza (04-04-2024)
To deliver digital transformation in CRM & TPM across consumer products industry
INR Recovers Amid Firm Equities And Weak Dollar Overseas; RBI In Focus (04-04-2024)
The Indian rupee on Thursday recovered 9 paise to close at 83.44 (provisional) against the US dollar, tracking a firm trend in domestic markets and upbeat macroeconomic data. The benchmark S&P Sensex ended the session up 350.81 points, or 0.47 percent, higher at 74,227.63. The broader NSE Nifty index settled 80 points, or 0.36 percent, higher at 22,514.65. All eyes are now glued to RBI monetary policy outcome due tomorrow. A weak US dollar against major crosses overseas also supported the domestic unit. Dollar faced downward pressure and reversed from a near seven week high. The dollar index futures that measures the greenback against a basket of currencies was trading on the sidelines at 103.87 following mixed cues from Fed Powells speech and awaiting further cues from Fridays non-farm data. However, elevated crude oil prices and sustained foreign fund outflows limited upside.
Bharti Hexacom IPO subscribed 1.12 times (04-04-2024)
The offer received bids for 4.62 crore shares as against 4.12 crore shares on offer.
Singapore Market gains 0.4% (04-04-2024)
The market was encouraged by softer-than-expected U.S. services sector data and Fed chair Jerome Powell’s comments, which aided sentiment around rate cuts.