Indian government bonds are headed for the worst week in four-and-a-half years as a slew of government steps failed to prevent another record low for the rupee.
FDI fell to $36.9 billion in the fiscal year ending in March from $46.6 billion the previous year.
Sustained capital inflows and fresh dollar sales by exporters also supported the rupee.
Benchmark 10-year bond yields rose to 8.24 percent from its 8.12 percent close on Thursday.
Funds will be arranged through banks (40%),bonds (40%) and portfolio sell down (20%).
The term of Subbarao as RBI chief ends on September 4,2013.
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Read here: RBI Mid-Quarter Monetary Policy Review: June 2013 (Press Release)
The rupee was battered for the second day in a row,before the Reserve Bank of India (RBI) and the government came to its rescue.
The near 2% fall of the rupee spells trouble for the stock of external commercial borrowings coming up for repayment over the next six months.
With the Indian rupee hitting a record low against the dollar on Monday,India Inc expressed its concerns and suggested that the Reserve Bank of India should intervene and take measures to provide confidence to the market.
In what could be a setback for Yes Bank founder,managing director & CEO Rana Kapoor,the Bombay High Court on Monday said the nomination of three directors Ravish Chopra,Diwan Arun Nanda and MR Srinivasan to the banks board,will be subject to the courts approval.
The rupee today strengthened by 10 paise against the US dollar to 56.40 in early trade.
While ruling out a ban on banks selling gold coins,the Reserve Bank of India (RBI) has said it does not want them to aggressively market these.
Sebi will get the power to attach immovable properties,search and seize assets and seek information from any entity...
Kotak Mahindra Bank today reported 47 per cent rise in standalone net profit.
Reserve Bank today expressed concern over steadily falling savings and investment rates