Anupreksha Jain

Senior Correspondent at Financial Express

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Articles

NBFCs draw flak for lax loan appraisal practices

1 week ago | rediff.com | Anupreksha Jain

Reserve Bank of India (RBI) Deputy Governor Swaminathan J criticised some non-banking financial companies (NBFCs) for lax loan appraisal practices and charging excessive interest rates, even as he acknowledged the sector’s rapid expansion over the past decade, especially in recent years.
'Ten-year benchmark yield will get lower in next 3-6 months' - Market News

1 month ago | financialexpress.com | Anupreksha Jain

Inflows from passive funds into the government bond market will be significantly lower this year and for active flows, the trend is flattish-to-negative, feels Mahendra Kumar Jajoo, CIO-fixed income, Mirae Asset Investment Managers. He tells Anupreksha Jain that as the rupee aligns with the real effective exchange rate (REER), foreign investors will look at India positively again. Excerpts: By March-end, the yield on 10-year benchmark is likely to remain in the current range of 6.65-6.70%.
Rupee gains as dollar index drops to four-month low

1 month ago | financialexpress.com | Anupreksha Jain

The rupee on Tuesday gained 12 paise to settle at 87.2125 12, supported by likely intervention from the Reserve Bank of India and gain in its Asian peers, with the dollar index falling to its four-month-low level and crude oil prices remaining subdued. The volatile trend in domestic equity markets, foreign capital outflow and trade-related uncertainties capped the gains. On Monday, the rupee slumped 45 paise, its highest single-day decline since February 25.
Improved credit profiles help top realtors get cheaper LRD loans

1 month ago | financialexpress.com | Raghavendra Kamath |Anupreksha Jain

With their credit profiles rising despite largely stagnant interest rates, top commercial property developers have been able to borrow against rent receivables at a rate lower by 75-to-100 basis points in the past year. Lease rent discounting (LRD) rates for top commercial property developers fell also because of higher liquidity in the market, generated by the RBI’s curbs on “evergreening of loans” and the strengthened real estate law driving away fly-by-night developers, according to experts.
Rupee slumps 45 paise, biggest drop in two weeks

1 month ago | financialexpress.com | Anupreksha Jain

The rupee depreciated by 45 paise, its steepest single-day decline since February 25, to close at 87.33 on Monday, pressured by dollar bids spurred by the maturity of positions in non-deliverable forwards (NDF) and a fall in the Chinese yuan. Despite the weakness in the dollar, demand for the greenback from oil companies amid volatile crude prices and a selloff in equities soured the sentiment.
Muted response for VRR as liquidity strain eases

1 month ago | financialexpress.com | Anupreksha Jain

The 14-day variable rate repo (VRR) auction on Friday received bids worth Rs 8,375 crore, against the notified amount of Rs 50,000 crore at a cut-off rate of 6.26%, indicating initial signs of ease in liquidity conditions. Market participants said with continuous infusion of funds, the durable systemic liquidity has considerably eased. So, banks seem reluctant to participate in long-term VRRs as they have enough funds to cover the upcoming outflows from the system. “System liquidity has eased.
Benchmark yield eases to one-month low on liquidity push

1 month ago | financialexpress.com | Anupreksha Jain

The yield on the benchmark 10-year bond softened to 6.6806% on Thursday, the lowest level since February 6 (6.656%), compared with its previous close of 6.7087%, after the Reserve Bank of India announced open market operation (OMO) purchases and foreign exchange swaps to ease liquidity.
States borrow Rs 50,505 crore via SDL window, highest so far in FY25

1 month ago | financialexpress.com | Anupreksha Jain

States on Tuesday borrowed Rs 50,505 crore via state development loans (SDL) – their highest borrowing in the current financial year. After the auction, the spread between the 10-year SDL and the 10-year benchmark 6.79% 2034 bond rose to 53 basis points from 30 basis points. With an increase in SDL supply, the spread between the two is expected to widen a bit, said market participants.
Banks trim G-Sec holdings on tight liquidity conditions

1 month ago | financialexpress.com | Anupreksha Jain

Banks have reduced their government securities (G-Secs) holdings in view of tight liquidity conditions and fluid geopolitical situation, according to market participants. Banks sold around Rs 1 lakh crore worth of government bonds in recent open market operations (OMO) conducted by the Reserve Bank of India (RBI), but bought treasury bills worth Rs 10,000 crore from the secondary market, thereby reducing net G-Sec holdings by Rs 90,000 crore, traders said.
FPIs scale back buying as interest rate gap shrinks

1 month ago | financialexpress.com | Anupreksha Jain

Foreign portfolio investors’ (FPIs) holdings of government bonds under the fully accessible route have declined, but they remained net buyers in February as the yield gap between US and domestic bonds narrowed. When the interest rate differential between US and domestic yields narrows, FPIs usually exit emerging markets in favour of safe-haven assets. This trend has also put pressure on the rupee. “The month of January was a net negative month for FPI activity in bonds.