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HDFC Bank Ltd. said it has submitted the names of two candidates to the Reserve Bank of India for the position of managing director and chief executive officer.
India’s central bank rejected some bids at a sale of shorter papers amid growing worries over stronger steps by the authority to remove excess banking cash.
India’s central bank rejected estimates that its record foreign-currency deposit drive will prove costly, saying the inflows will instead generate additional income for the Reserve Bank of India as it deploys the dollars overseas, Governor Sanjay Malhotra said Friday.
India’s central bank used currency swaps to drain cash from banks, according to people familiar with the matter, as excess funds in the financial system climbed to a record
The RBI swap shields banks from currency risk on the principal, while banks have to manage dollar interest payments themselves, leaving some exposed if the rupee weakens
India tapped its vast diaspora for a record $127 billion through a special deposit program, a fundraising bonanza that economists say could come with a hefty $10.6 billion bill for the country’s central bank.