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INDIA: Country Wrap:  India Awaits RBI Decision This Week. 

INDIA
  • The government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and the Monetary Policy Committee of the Reserve Bank has to now decide on interest rate cut to boost growth, Finance Secretary Tuhin Kanta Pandey said on Tuesday. (source: BBG)
  • India’s capital holds local elections Wednesday, in a crucial test for Prime Minister Narendra Modi whose party has failed to wrestle control of Delhi from a small but formidable rival for over a decade now. (source: BBG).
  • India’s NIFTY 50 is backing up from yesterday’s gains to open +0.15% in early trade.
  • INR:  bucking regional trends the rupee is trading weaker this morning by -0.09 at 87.15.
  • Bonds: India’s 10YR government bond continues to grind lower in yield to be at 6.66%
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  • The government has taken measures to lower fiscal deficit and delivered a non-inflationary Budget, and the Monetary Policy Committee of the Reserve Bank has to now decide on interest rate cut to boost growth, Finance Secretary Tuhin Kanta Pandey said on Tuesday. (source: BBG)
  • India’s capital holds local elections Wednesday, in a crucial test for Prime Minister Narendra Modi whose party has failed to wrestle control of Delhi from a small but formidable rival for over a decade now. (source: BBG).
  • India’s NIFTY 50 is backing up from yesterday’s gains to open +0.15% in early trade.
  • INR:  bucking regional trends the rupee is trading weaker this morning by -0.09 at 87.15.
  • Bonds: India’s 10YR government bond continues to grind lower in yield to be at 6.66%