BNY’s Geoff Yu notes that India’s bonds sold off after the Reserve Bank of India (RBI) unexpectedly advanced closure of its special Dollar deposit window to end-August. The change reduces anticipated Indian Rupee (INR) liquidity, lifts 5-year and 10-year yields, and may slow reserve accumulation and Rupee appreciation as authorities grow wary of future liabilities and forward-premium costs.
Indian Economy
Oil Prices Rise Again: Is $95 Crude the New Normal? Impact on Indian Stock Market
Oil prices are climbing once again, creating fresh worries for investors and oil-importing countries like India. After a brief fall in crude prices, tensions in the Middle East have pushed Brent crude back towards the $87-$88 per barrel level.
PNB Q3 Results: Net Profit Jumps 13% to ₹5,100 Crore, Asset Quality Improves
PNB Q3 Results: Punjab National Bank (PNB) posted a strong set of Q3 results, reporting a 13% year-on-year jump in net profit to ₹5,100 crore. The PSU bank’s performance was supported by healthy loan growth, improved asset quality, and better recovery from bad loans.
Can Gold ETFs Help India Reduce Current Account Deficit? Explained Simply
India has a strong emotional and cultural connection with gold. Every year, Indians buy a large quantity of physical gold like jewellery, coins, and bars. Because India does not produce enough gold locally, most of it is imported, which increases the Current Account Deficit (CAD).
Japanese Investors Eye India with Big Deals in Steel, Banking and Markets
The first three weeks of December witnessed a trio of big-ticket cross-border deals involving Japanese entities, underscoring a renewed surge of interest of investors and corporations to India from the Land of the Rising Sun.