Analysts at TD Securities note that the transfer of INR 1.76 trillion ($24.4bn) by the RBI to the Indian government was higher than the budgeted amount of INR 900bn and is a timely capital injection for the government. Key Quotes “Distribution of the RBI’s excess reserves has been a major issue, with a panel set up in December to recommend distributions. In the end the RBI board accepted the panel’s recommendations.” “Given worries about weak tax revenues this will allay concerns about how the government will be able to finance the planned INR 700bn infusion into state-run banks and is likely positive for bonds. It’s also positive that the dividend will be given in one payment rather than in staggered amounts.” “After the transfer to the government realized equity will be a still healthy 5.5% of the RBI’s balance sheet, which is at the bottom end of the committees recommended 5.5-6.5% range.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China State Council issues statement on plan to boost consumption – Xinhua FX Street 4 years Analysts at TD Securities note that the transfer of INR 1.76 trillion ($24.4bn) by the RBI to the Indian government was higher than the budgeted amount of INR 900bn and is a timely capital injection for the government. Key Quotes "Distribution of the RBI's excess reserves has been a major issue, with a panel set up in December to recommend distributions. In the end the RBI board accepted the panel's recommendations." "Given worries about weak tax revenues this will allay concerns about how the government will be able to finance the planned INR 700bn infusion into state-run banks and is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
