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Liquidity strain likely to soften (Business Standard 31st Dec 2007)
Liquidity is expected to ease gradually this week since the government is expected to pay the interest on its special deposit schemes.
Moreover, there are no major outflows expected from the system as there are neither any liquidity-tightening measures nor any government-borrowing programme.
Moreover, outflows towards advance taxes and the government auction in December are expected to come back to the system. RBI is also likely to mop up dollar funds that may flow into the system through private equity investments or the corporate sale of dollars. More
Banks pushing for benchmark rate for term loans, deposits (The Hindu Business Line 31st Dec 2007)Once again, banks in India are trying to work out a transparent benchmark interest rate for term loans and deposits.
Indian Banks Association (IBA) has renewed its initiative to work out an indicative inter-bank term money rate or Mumbai inter-bank offered rate (Mibor).
The monetary policy committee of IBA which discussed the subject at its meeting last week has decided to submit a proposal to the Reserve bank of India, an official who attended the meeting said. More
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