India Business News: India has consistently been the top recipient of remittances from its diaspora. In the fiscal year 2022-23, the remittances surpassed the $100 billion
The International Monetary Fund (IMF) recently reclassified India s exchange rate regime as stable instead of floating. However, the Reserve Bank of India (RBI) disputes this reclassification. The IMF claims that from December 2022 to October 2023, the RBI maintained exchange rate stability by intervening in the currency market, deviating from market-driven conditions as per its stated exchange-rate policy since March 1993.
The International Monetary Fund (IMF) recently reclassified India s exchange rate regime as stable instead of floating. However, the Reserve Bank of India (RBI) disputes this reclassification. The IMF claims that from December 2022 to October 2023, the RBI maintained exchange rate stability by intervening in the currency market, deviating from market-driven conditions as per its stated exchange-rate policy since March 1993.
Once the RBI feels comfortable that now the Fed will keep easing for a while, it will allow them to go easier. When that happens is a much tougher question.
Ramnath Krishnan, a veteran in the financial services industry, said that amid a lack of meaningful pick-up in private sector capex, the saving grace for rating firms has been a slew of big-ticket bond issuances by banks as lenders typically seek out pedigreed ratings for their market instruments. Edited excerpts: