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Gold flatlined versus a falling US Dollar on Friday, holding near 3-month highs despite fresh GLD and IAU ETF outflows as Fed hawks and now the UK Government moving to tighten policy to try fighting inflation ....
How RBI managed to boost its surpluses × Revenue from foreign and domestic investments apart, there was a spike in RBI’s holdings of GSecs for which it earns interest The transfer of RBI surplus of nearly ₹1 lakh crore to the government sounds good as it helps a lot to balance the Budget. As the announcement comes in May, it would be used in the Budget for FY22 as the government follows the cash accounting system where income is reckoned when received. In the previous year, the surplus was ₹57,132 crore. For FY22, the Budget has targeted an amount of ₹53,510 crore from the RBI, banks and FIs. The target has been exceeded and will be very helpful now as it can be used for any Covid-based extra-budgetary expenditure or to shore up revenue which may dip due to lower tax collections. ....
Banks that had availed funds under those plans, introduced since April-March last year in different phases, were allowed to reverse these transactions before maturity and avail new funds at the prevailing lower repo rate. ....
D-Street reads good signals in RBI package for Covid 2.0, avoidance of fresh moratorium SECTIONS Share Synopsis Analysts said RBI’s assurance on policy support would soothe market sentiment, but said any upside from here on will be limited. The 30-pack remained steady even after the RBI press conference. Related NEW DELHI: RBI Governor Shaktikanta Das on Wednesday announced a slew of liquidity and restructuring measures, aimed at offering emergency relief to the Covid-hit MSMEs and small borrowers and ease access to healthcare services. Analysts said RBI’s assurance on policy support would soothe market sentiment, but said any upside from here on will be limited. ....
The umbrella body also demanded an extension of different liquidity windows, a key lifeline to small or mid-size non-banking finance companies. Localised curbs on mobility weighted on the economy that was lately trying to clamber out of the sinkhole. ....