Tuesday, July 30, 2013

RBI's steps to buy redemption for rupee


Below is a list of currency-related measures from Indian policy makers this year:

* RBI further lowers banks' limit on borrowing under daily liquidity adjustment facility (LAF); increases banks' cash reserve ratio requirements, announces 60 billion rupees sale in cash management bills.
* RBI tightens gold imports again, making them dependent on export volumes
* RBI raises the Marginal Standing Facility rate and Bank Rate, caps banks' limit on borrowing under daily LAF and announces sale of 120 billion rupees in debt via open market operations.
* RBI extends relaxation of the all-in-cost ceiling for issuers of external commercial debt
* India's regulators toughen rules for derivatives trading in currency markets
* RBI eases rules for non-bank asset finance companies to raise debt overseas
* RBI introduces provisioning, capital requirements for bank exposed to corporates with unhedged FX

* India further tightens gold import rules
* RBI extends buyback time period of foreign currency convertible bonds until Dec. 31
* RBI allows telecommunications companies to refinance rupee loans until March
* RBI tightens gold lending norms for regional rural banks
* RBI eases rules for low-cost builders to access overseas loans, hedge entire borrowing
* RBI relaxes some forex option premium payment rules
* RBI asks exporters to realise dollar earnings and bring them back into the country within one year
* RBI restricts loans against gold coins by co-operative banks
* India fin min says RBI advised banks not to sell gold coins
* India raises gold duty to 8 percent
* RBI extends gold import curbs on nominated and trading agencies
* RBI mulls easing hedging norms for exporters, importers
* RBI cuts timeframe for exporters to repatriate earnings

No comments:

Post a Comment