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RBI limits overseas direct investments by Indians

[Reuters] Mumbai: India imposed restrictions on foreign exchange outflows on Wednesday in its latest attempt to prop up the rupee, as a spike in inflation heaped more pressure on policymakers to curb a crippling external deficit. Finance minister P Chidambaram also reiterated his pledged to narrow the current account deficit

Industrial output tipped to fall, raising stakes for rupee

[Reuters] New Delhi: India is expected on Monday to report a second straight contraction in industrial production in June, underscoring the challenge for policymakers to stabilise the battered rupee without hurting economic revival. A Reuters poll of 20 economists predicts output at factories, mines and utilities shrank an annual 1.2

Subbarao blames government for rupee dip

RBI Governor says the root cause of rupee depreciation is domestic structural factors Mumbai: In a forthright “last public lecture” before he retires next week, RBI Governor D Subbarao was on Thursday sharply critical of the government, blaming its “loose fiscal stance” for the current economic woes, and warned that

How depreciating rupee dents the already battered CAD and the fiscal deficit

 [ET] The situation is grim. It is beyond debate that a depreciating rupee dents the already battered current account deficit (CAD) and the fiscal deficit further. How? CAD first. Exporters refrain from repatriating export proceeds. Why should they when they know the dollar would earn yet more rupees if they

India’s first defence satellite GSAT-7 launched successfully

  [TOI]India’s first exclusive defence satellite GSAT-7 was successfully launched by European space consortium Arianespace’s Ariane 5 rocket from Kourou spaceport in French Guiana on Friday, giving a major push to the country’s maritime security. Indian Navy would be the user of the multi-band home-built communication spacecraft, expected to be