New Delhi, May 30 (KNN) The Confederation of Indian Textile Industry (CITI), which is the only apex industry chamber covering the entire spectrum of the Textile and Clothing (T&C) industry for both domestic and export markets will submit the ‘White Paper’ to the new Union Textile Minister to provide policy support to the textile and industry.
The Indian rupee gained in the early trade on Friday. It has opened higher by 11 paise at 69.76 per dollar versus Thursday's close 69.87.
In a positive move for the Indian industry, Reserve Bank of India on Wednesday constituted a task force on development of secondary market for corporate loans, a field which is currently restricted to sale to asset reconstruction companies and ad hoc sale to other lenders including banks, and no formalised mechanism has been developed to deepen it.
After being granted a lifeline from the country’s largest insurer, the erstwhile state-run lender, IDBI Bank is now planning to turn to the Reserve Bank of India (RBI) for some forbearance to bring its house in order.
Bond dealers and economists are certain that the Reserve Bank of India (RBI) will lower the policy rate. However, there is disagreement on the timing.
Non-banking financial companies, already reeling under a painful liquidity crisis, are up against a fresh challenge in the form of new regulatory norms set by the Reserve Bank of India. The central bank has released draft norms on liquidity risk management for deposit taking and non-deposit taking NBFCs.