Earlier today, the RBI slashed the repo rate by 40 basis points to 4 per cent and extended the loan repayment moratorium for another three months up to August 31
He said all options should be open to the sovereign in consultation with the Reserve Bank of India (RBI)
NBFCs cry foul as they were expecting a two-three year support
Nirmala Sitharaman tells Indivjal Dhasmana & Nivedita Mookerji that the government has made sure that mistakes committed during 2008-2013 are not repeated while announcing the Rs 20-trillion package.
PE, VC funds domiciled in the island nation on the radar
Last financial year saw a series of banks failures starting with Punjab & Maharashtra Co-operative Bank and culminated in near collapse of YES Bank, India's 5th-largest private sector bank at its peak
Bond dealers said the market wanted the RBI to offer them higher coupon for the switch, as the source security is maturing just next month.
HDFC's share price were down almost 8 per cent to Rs 1,512
Refinancing high-cost debt into low-cost debt is possible, thanks to the RBI's TLTROs
Central bank does huge OMO silently to control domestic bond yields
Experts say fund houses preferred to sell bonds to banks, instead of borrowing
Such switches happen to enable the government repay the loans at a later date to ease the strain on the exchequer in the immediate term.
The yield on the most-traded 6.45 per cent 2029 note dropped 10 basis points to 6 per cent, extending Wednesday's 7-basis point fall.
Bank has made a provision of Rs 99.63 cr for the period ended March 31, 2020, based on assessment of recoverability of advances
Ratings have been cut for 847 companies
Sitharaman announced a special liquidity scheme of Rs 30,000 crore for NBFCs, housing finance companies (HFCs) and MFIs, which are finding it difficult to raise money from the debt markets.
Yields on 10-year bonds slid as much as eight basis points to to 6.08 per cent after surging by as much as 12 basis points earlier.
'Self-reliant India' package is around 10% of GDP; lockdown 4.0 is on with new guidelines
Following the announcement of a Rs 20-trn package, the Nifty contracts traded on the SGX shot up 5%, while the American depository receipts (ADR) of Indian companies gained between 3% and 10%.
Given the plan to borrow an additional Rs 4.2 trillion from the market, yields will show a tendency to move up. But, the huge liquidity in the system kept the rise in check, bond dealers said.