Reliance Industries has been granted permission by the Reserve Bank of India (RBI) to retain $2bn over its raised $3bn loan in the last fiscal year to use for working capital and expansions in energy and telecoms. The strong demand for the loan saw the company retain more than needed. Lenders from the UK, the US, India, South Korea, Taiwan and Mauritius were involved in the initial loan deal.
Consumer Price Index (CPI) inflation was at 4.25% in May, the lowest in 25 months. With the price gauge now not too far from the Reserve Bank of India s target of 4%, it could be reasonable to see markets building up hopes of interest rates being lowered after a year of aggressive policy tightening.
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Consumer Price Index (CPI) inflation was at 4.25% in May, the lowest in 25 months. With the price gauge now not too far from the Reserve Bank of India s target of 4%, it could be reasonable to see markets building up hopes of interest rates being lowered after a year of aggressive policy tightening.