Demands for US currency and slowing economic growth put pressure on the domestic currency.
With the Indian rupee witnessing a record fall against the US dollar,the flow of remittances by NRIs from Punjab has risen by up to 10 per cent in the last three months to benefit from the higher exchange rate.
Career bureaucrat-turned-banker D Subbarao demits office on Wednesday after a 5-year stint as RBI Governor during a tumultuous period of global financial stress that has left rupee plumbing new depths,falling economic growth and high inflation.
The meeting assumes importance as foreign banks are big players in the NDF market.
In FY'13,banks restructured Rs 75,000 crore loans under the CDR mechanism.
The domestic currency has lost more than 21 per cent against the US dollar since April.
PM was confident growth in this fiscal will rise to 5.5 pct from a decade's low of 5 pct in 2012-13.
Indian banking sector has seen some rise in bad loans,Prime Minister admitted.
The RBI last night said PSU oil companies could buy dollars through a special swap window.
RBI said that these coins are the legal tender and the existing coins in this denomination shall also continue to be legal tender.
Worries about food subsidy bill had dragged rupee to 66.90 to the US dollar on Tuesday.
'Markets fear govt finances will take a big hit as the food security will require huge subsidy.'
Ministry says govt is not planning to ban derivatives trading in the currency market
The 10 branches would be part of about 100 new branches,the Kotak Mahindra Bank plans to open during this year.
Rate increases 17.50% to 18% per annum,effective from September 1,2013.
Chidambaram expresses confidence it will find its 'appropriate level'.
RBI was likely selling dollars via state-run banks,starting at 65.90 rupee levels,to prevent it from slipping further,three traders said.
The rupee had plunged 148 paise on August 19. The previous lifetime low was 65.56 on August 22.
Rupee fell to a record low of 65.56 last week,and has lost more than 14 per cent so far this year.
Dealers also expect that month-demand from oil importers may also weigh on rupee this week.