The rupee will trade in a range between 49 & 54 to the dollar till the end of the year as investors digest the sharp gains in both the currency & equity markets.
Subbarao may be accused of not playing ball with the government by not lowering interest rates, but he is laying a firm foundation for stable long term growth.
FDI in retail and insurance will help the economy, but not take India back to days of 8% economic growth rate, says Aditya Puri.
"If you are saying 75% of the subsidy is not reaching the right people, how can this be a political problem? Whatever you do will be an improvement," says Aditya Puri.
Currently, more than a quarter of all deposits with banks are locked in either government bonds, or lying with the central bank with no interest.
With consumption & savings behaviour of individuals & companies turning adverse, investments will stay subdued for at least 18 months.
In an interview with ET, HDFC Executive Director V Srinivasa Rangan says HDFC is still rock solid and defends the accounting practices amid questions about it.
ICICI Bank is talking to global investment banks on the interest rate range it could pay on the bonds, two people familiar with the matter said.
Ken Moelis has set his sights on India with billionaire entrepreneurs seeking overseas assets amid policy-induced slowdown in the home market.
Reserve Bank of India's actions are not geared to giving the best deal for the government but they are taken in the interest of the overall economy, says Subir Gokarn.
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