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Funding and debt● Neutral for Indian equities
India may not have got same FCNR(B) inflows if deposits were raised now: CEA
The brief
- CEA V Anantha Nageswaran says FCNR(B) deposit mobilisation was well-timed
- Current global interest rates would hinder similar inflows if deposits were raised now
- Lower scope for similar inflows may matter to Indian banks and the rupee’s external funding outlook
- CEA flags US friction, energy shocks, and missing AI play as India’s key near-term risks
- CEA flags US ties, energy as headwinds, calls for strategic buffers
- CEA Nageswaran says global disinflation is over, India needs 6-9 month oil buffer
- CEA flags US ties, energy prices and lack of AI presence as near-term headwinds
- India’s external pressures persist despite forex swap inflows, says Nageswaran
Reliance bond issue amid bank liquidity shifts
Reliance Industries plans to raise ₹10,000 crore next week through 10-year bonds, as companies tap bank liquidity. RBI Deputy Governor Rohit Jain said banks are expected to deploy additional FCNR(B) liquidity, while deposits fell ₹2.59 lakh crore in the fortnight to September 15.
Friday, 25 September
- India may not have got same FCNR(B) inflows if deposits were raised now: CEA