The local currency strengthened by 21 paise against the greenback on Wednesday to 82.49 at close. It closed 82.70 on Tuesday.
Source: Bloomberg
The change will come into effect starting Feb. 13, 2023.
The trading hours for various markets regulated by the Reserve Bank were initially amended in April 2020.
Source: Reserve Bank of India
RBI clarifies on Indian banking sector's exposure to Adani group company stocks.
“Indian banking sector and NBFC sector continues to remain resilient and strong," says Saktikanta Das, Governor, RBI.
On Tuesday, Ratings firm Moody’s said in a report that Indian banks’ exposure to the Adani Group is not large enough to affect their credit quality.
Source: RBI post-policy press conference
The broader market indices were trading higher; S&P BSE MidCap was up 0.59%, whereas S&P BSE SmallCap was higher by 0.44%.
Fourteen out of the 19 sectors compiled by BSE advanced, while the only five declined in trade.
The market breadth was skewed in favour of the bulls. About 1,867 rose, 1,434 declined and 168remained unchanged on the BSE.
Four on six members of MPC voted in favour of hiking rates.
Consumer price inflation in India moved below upper tolerance in November 2022.
Core inflation remains sticky.
While inflation is expected to moderate in 2023-24 it could stay above 4% target.
IMF has revised upward global growth estimates for 2022 and 2023.
Amidst volatile global developments, Indian economy remains resilient.
Inflation is expected to stay at 5.6% in Q4FY23.
Inflation seen at 5% in Q1, 5.4% in Q2 and Q3, and 5.6% in Q4.
Policy rate still trails pre-pandemic levels.
FY24 real GDP growth projected at 6.4%.
Q1 growth seen at 7.8%, Q2 at 6.2%, Q3 at 6% and Q4 at 5.8%.
Risks of GDP projection are evenly balanced.
Source: Shaktikanta Das's speech at RBI's press conference
The yield on the 10-year bond opened largely flat at 7.32% on Wednesday.
Source: Bloomberg
The local currency opened at 82.72 against the greenback on Wednesday. It closed 82.70 on Tuesday.
Source: Bloomberg
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