RBI to issue consolidated norms for forex loans, masala bonds by month end; key things to know – The Financial Express

In a bid to consolidate the regulations pertaining to borrowing and lending transactions of resident Indians as well as others the Reserve Bank of India (RBI) will issue consolidated norms for forex loans as well as masala bonds. The RBI will also issue draft directions for allowing non-resident Indians access to the Rupee Interest Rate Derivatives (IRD) market in India for non-hedging purposes.In a bid to consolidate the regulations pertaining to borrowing and lending transactions of resident I...
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Bank shares fall up to 3.5% as RBI keeps rates unchanged; IDFC, IndusInd, ICICI Bank major losers – The Financial Express

As Reserve Bank of India (RBI), in its 5th bi-monthly monetary policy review, kept the key rates unchanged, the shares of banks plunged up to 3.5 percent. The BSE Sensex plunged 249.90 points, or 0.69 percent, to close at 35,884.41.As Reserve Bank of India (RBI), in its 5th bi-monthly monetary policy review, kept the key rates unchanged, the shares of banks plunged up to 3.5 percent. The stock price of IDFC bank fell 3.46 percent, IndusInd bank 2 percent, ICICI bank 1.93 percent on the BSE today...
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Gold losing it's glitter: Palladium outshines yellow metal Gold; key things to know – The Financial Express

Gold just got left behind by one of its sister metals. After a demand-fueled rally over the past four months that’s seen prices hit successive records, palladium topped gold.Palladium, which hasn’t traded at a sustained premium to gold in 16 years, has gained as buyers scramble for supplies of the metal used in vehicle smog-control devices.Gold just got left behind by one of its sister metals. After a demand-fueled rally over the past four months that’s seen prices hit successive records, pallad...
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Oil prices: Saudis, Russia haggle on crude as Donald Trump tells OPEC to keep pumping – The Financial Express

OPEC and its allies continued to haggle over the size of potential crude-production cuts in Vienna on Wednesday as U.S. President Donald Trump urged the group to keep the taps open and prices downOil prices were little changed by the president’s intervention, rising 27 cents to .35 a barrel in London. (Reuters)OPEC and its allies continued to haggle over the size of potential crude-production cuts in Vienna on Wednesday as U.S. President Donald Trump urged the group to keep the taps open and pri...
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Cabinet likely to clear policy to boost exports of agriculture commodities – The Financial Express

The Union Cabinet is expected to approve Thursday a policy to boost exports of agriculture commodities such as tea, coffee and rice and increase the countrys share in global agri trade, an official said. The states would be urged to reform their APMC (Agriculture Produce Market Committee) Acts and remove mandi taxes applicable on export-oriented goods.The Union Cabinet is expected to approve Thursday a policy to boost exports of agriculture commodities such as tea, coffee and rice and increase t...
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US Dollar stays defensive on Treasury yield curve inversion worry – The Financial Express

The dollar trimmed some of its recent losses but remained under pressure on Wednesday, as an inversion in part of the Treasury yield curve raises concerns about a potential U.S. slowdown.US Dollar stays defensive on Treasury yield curve inversion worryThe dollar trimmed some of its recent losses but remained under pressure on Wednesday, as an inversion in part of the Treasury yield curve raises concerns about a potential U.S. slowdown.The Australian dollar slumped more than half a percent agains...
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RBI issues draft norms on NRI participation in IRD market – The Financial Express

The Reserve Bank of India (RBI) Wednesday issued draft guidelines on non-residents participation in the interest rate derivative (IRD) market.The central bank has sought comments on the draft guidelines from banks, market participants and other interested parties by December 31.The Reserve Bank of India (RBI) Wednesday issued draft guidelines on non-residents participation in the interest rate derivative (IRD) market. The draft norms have proposed non-resident Indians (NRIs) access to the IRD ma...
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Sensex 200 points down ahead of RBI policy – The Financial Express

Broadly negative global cues and caution ahead of the RBI policy pushed the key indices during the afternoon session on Wednesday to trade over 0.5 per cent lower from their previous close .Sensex 200 points down ahead of RBI policyBroadly negative global cues and caution ahead of the RBI policy pushed the key indices during the afternoon session on Wednesday to trade over 0.5 per cent lower from their previous close .All the sectoral indices on BSE and NSE traded in the red led by metal, auto a...
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Oilmeal exports drop 16% in November – The Financial Express

According to the association, the Iranian market has opened up for Indian soybean meal.The export of rapeseed meal has increased to 745,901 tonne in first eight months, almost doubled from the same period figure of 392,463 tonne last year, mainly on exports to South Korea, Vietnam and ThailandThe export of oilmeals during November 2018 has been provisionally reported at 311,739 tonne, down by 16% compared to 369,522 tonne in November 2017, according to data released by the Solvent Extractors’ As...
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Ginger market to firm up despite low output – The Financial Express

Good returns from ginger in past few years due to robust demand prompted Kerala farmers to lease more land for ginger in Karnataka. Ginger rhizomes have also been affected by the soft rot disease in Mysuru, Coorg, Chikkamagaluru, Hassan and Shimoga districts in Karnataka.The market for ginger is back on track with reduction in domestic production, according to traders.Fresh ginger prices at the farm-gate in Wayanad have spiked to Rs 35-45 per kg from a low of Rs 15-20 in the year ago period. Acc...
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