RBI writes to govt to extend term of MPC’s external members by 6 mos

Friday, Jun 19 –Sources: RBI to complete monetary policy framework review by Mar By T. Bijoy Idicheriah and Siddharth Upasani MUMBAI/NEW DELHI – The Reserve Bank of India has written to the government, suggesting the four-year term of three external members of the Monetary Policy Committee be extended by six months, said two officials aware of the development. “A […]

TREND: Arbitrage game keeps FX traders hooked beyond spot mkt hours

Friday, Jun 19    By Akansha Victor and Mimansa Verma MUMBAI – It has been more than two months now that the foreign exchange market has been operating with truncated trading hours, which the Reserve Bank of India implemented because of the COVID-19 pandemic. Of late, however, Indian currency trade has been stretching well beyond the official hours […]

Rice procurement cap on govt radar to tackle excess food grain stock

Friday, Jun 19 By Sampad Nandy NEW DELHI – The food ministry is mulling a physical limit on procurement of rice from the upcoming marketing season, starting September, to find a permanent solution to excess procurement amid rising stock in the central pool, senior government officials said.  At the start of this financial year, the government had 30.5 mln tn rice […]

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