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69 ArticlesFixed Income

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91 Day T-Bills Return To Single Digits

Every Wednesday 91 day T-Bills are auctioned, and after Rajan’s first RBI policy, we have a moderation in T-Bill auction yields to 9.7% from the recent highs ...

RBI Will Remain the Lender of First Resort

RBI has promised liquidity to the system: Beginning with the Mid-Quarter Review of September 2013, the Reserve Bank of India began a calibrated unwinding of ...

Biggest Bond Devolvement of 2013 at Rs. 4,000 cr. Makes This the Worst in 12 Years

The 15,000 bond auction devolved over 25% today – that is, there weren’t enough bidders on the bonds and primary dealers HAD to buy it (they had ...

Underwriting Commissions for G-Sec Bond Auctions Go Up Again For the Monday Auction

Banks and Primary Dealers that have been underwriting government bond auctions have been getting great commissions recently. They have now earned over Rs. 440 ...

MSF Borrowing Still At 1.4 Trillion

MSF borrowing under the Marginal Standing Facility was 1.426 trillion (1.426 lakh crore) yesterday. This is close to the limit of 1.6 trillion that is the ...

The Low Risk NRI Mega Return Through Leveraged FCNR Deposits

Foreign banks are now rushing to fund Non Resident Indians who can invest the money into Indian dollar deposits under the FCNR scheme. The RBI has reduced the ...

CBLO Sees 72% Rates on Cash Crunch, MSF Borrowing Goes To Rs. 1.4 Trillion

The borrowing in the Marginal Standing Facility (MSF) went to a record Rs. 1.4 trillion (1.4 lakh crores) for the weekend, on the cash crunch due to the income ...

Banks Can Come After Your Assets If The Builder Defaults

Let’s say you’ve taken a loan for a house on the 10th floor of a building, under construction. Let’s say you’ve gone for the 80:20 scheme, where ...

The Three Distinct Phases of India’s Forex Reserves

India’s foreign exchange reserves have been through wild rides recently. But if you look at the reserves since 2001, here’s where we went. There are three ...

91-day T-Bill Yields Soften Below 11%. Expecting Easing Rates?

After crossing 12% in yield just two weeks ago, the 91 day T-Bill auction has cooled down to a 10.6% yield in the auction yesterday. T-Bills are short term ...