RBI loosens curbs on companies’ offshore borrowing, move seen supporting rupee
5 years, 11 months ago

RBI loosens curbs on companies’ offshore borrowing, move seen supporting rupee

Live Mint  

Mumbai: The Reserve Bank of India relaxed offshore borrowing rules for companies and financial institutions on Wednesday, a move that is likely to boost the rupee exchange rate. In addition, the RBI is also allowing manufacturing companies to raise up to $50 million from overseas lenders for one year compared to the previous minimum maturity rule of three years. “This is a rupee-positive move and will also give lot of flexibility for companies to raise bonds overseas,” said a debt investment banker at a foreign bank. The RBI’s new governor Shaktikanta Das, who was appointed by the government in November after his predecessor Urjit Patel resigned abruptly, has relaxed some measures to support growth including a one-time dispensation scheme for small borrowers.

Companies Rbi Three Years Relaxed Offshore  million  rbi  rupee  borrowing  raise  seen  overseas  50  funds  curbs  supporting  companies  relaxed  offshore  loosens

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RBI hikes rate caps on diaspora’s foreign currency deposits to attract flows
1 month, 1 week ago

RBI hikes rate caps on diaspora’s foreign currency deposits to attract flows

Live Mint  

Mumbai, Dec 6 The Reserve Bank on Friday announced a raise in the interest rate caps on the diaspora's foreign currency deposits, in a move aimed at attracting more capital flows amid pressures on the rupee. Announcing the fifth bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said it has been decided to increase the interest …

India Inc is losing appetite for offshore debt
2 years, 6 months ago

India Inc is losing appetite for offshore debt

Live Mint  

The pandemic-era overseas borrowing boom by Indian companies has started to slow as interest rates rise, the currency weakens, and the appetite for emerging market bonds diminishes. Measures announced by the Reserve Bank of India easing overseas borrowings by companies, including doubling the annual limit under the automatic route to $1.5 billion and raising the all-in cost cap for foreign …

RBI eases overseas borrowing to spur forex inflows
2 years, 6 months ago

RBI eases overseas borrowing to spur forex inflows

The Hindu  

The Reserve Bank of India on Wednesday announced a slew of temporary measures aimed at boosting foreign exchange inflows, including a doubling in the overseas borrowing limit for eligible corporates and removal of interest rate ceilings for NRIs’ foreign currency deposits. “It has been decided that with effect from the reporting fortnight beginning July 30, incremental FCNR and NRE deposits …

RBI Takes Measures To Attract Foreign Investments, Bolster Rupee
2 years, 6 months ago

RBI Takes Measures To Attract Foreign Investments, Bolster Rupee

News 18  

In order to bolster the rupee and attract foreign investments into the country, the Reserve Bank of India on Wednesday announced a slew of measures. These include relaxations on cash reserve ratio and statutory liquidity ratio on incremental FCNR and NRE term deposits, easing rules for FPIs, and raising limits on external borrowings, among others. “At present, interest rates on …

India Inc's foreign borrowings jump 24% to $9.23 bln in March
3 years, 8 months ago

India Inc's foreign borrowings jump 24% to $9.23 bln in March

The Hindu  

India Inc's external commercial borrowings jumped by over 24 per cent to USD 9.23 billion in March this year, RBI data showed. IRFC raised a total of USD 3.33 billion in three tranches for the purpose of infrastructure development, while ONGC Videsh Rovuma Ltd borrowed USD 1.6 billion for overseas acquisition. Among the top borrowers in the automatic route, Adani …

RBI buys so many US dollars that it ends up supporting debt market
4 years, 6 months ago

RBI buys so many US dollars that it ends up supporting debt market

Live Mint  

The Reserve Bank of India has accumulated so many dollars recently that it’s having a knock-on impact on the nation’s sovereign debt market. “The central bank’s FX policy is achieving multiple objectives of augmenting reserves, creating liquidity that’s helping demand for bonds, and at the same time curbing rupee volatility,” said Naveen Singh, head of fixed-income trading at ICICI Securities …

Latest headache for Indian firms: Sluggish bond market
4 years, 11 months ago

Latest headache for Indian firms: Sluggish bond market

Live Mint  

India needs a bigger bond market now more than ever, to help get funds to cash-strapped companies cut off from their shadow lenders by a crisis in that sector. Rupee corporate bond issuance seen increasing little in 2020 A stalling in issuance also undercuts attempts by Finance Minister Nirmala Sitharaman and predecessors to expand India’s corporate bond market to better …

India Inc is seeking dollar borrowings, but only select firms will find
5 years, 9 months ago

India Inc is seeking dollar borrowings, but only select firms will find

Live Mint  

Mumbai: Indian companies are lining up to seek dollar-denominated debt as global interest rates soften, but only a few are likely to find it as foreign investors remain wary about the credit quality of many, bankers say. Also making offshore debt attractive is that the Reserve Bank of India has eased external commercial borrowings guidelines, and started forward dollar-rupee swap …

India Inc's foreign borrowings fall 9% to $2.81 bn in February; Oil India, IOC, Shriram Transport Finance among major borrowers
5 years, 9 months ago

India Inc's foreign borrowings fall 9% to $2.81 bn in February; Oil India, IOC, Shriram Transport Finance among major borrowers

Firstpost  

The entire fund mop-up during the month was done through the automatic route of ECB, showed the RBI data. Mumbai: India Inc’s borrowings from foreign markets fell to $2.81 billion in February, down by 9 percent as compared to the year-ago month, data from the Reserve Bank of India showed on Friday. Among the major borrowers were Oil India Ltd, …

Rupee struggles: RBI will have to raise interest rates at least two more times to shore up currency, say investors
6 years, 3 months ago

Rupee struggles: RBI will have to raise interest rates at least two more times to shore up currency, say investors

Firstpost  

The rupee has been punished for the country’s widening trade gap and swept into the broader emerging market turmoil caused by rising US interest rates and an escalating US-China trade conflict. Mumbai: Investors have increased bets that the central bank will need to raise interest rates at least two more times this year to shore up the battered rupee after …

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