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MUMBAI: Six states raised a total of Rs 20,100 crore in the latest state development loan auction conducted by RBI on Tuesday, with weighted average yields ranging between 7.6% and 7.9% across tenures of 6 to 30 years. The results are in line with the rise in yields on central govt bonds where 10-year bond yields have risen to 7.1%.

The Indian Rupee reached a new record low against the US Dollar on Tuesday. Elevated crude oil prices and the ongoing conflict between the US and Iran impacted the currency. Concerns over India's rising import bill and potential inflation fueled demand for dollars. The Reserve Bank of India intervened to curb further losses.

The Reserve Bank of India is proposing new rules for banks. These rules will standardize how banks report their capital strength. This applies to all banks, including foreign ones. The goal is to make it easier for people to understand and compare bank performance. Banks will need to use specific formats and report figures in rupees crore.

Banks have asked the Reserve Bank of India to relax new lending rules for Infrastructure Investment Trusts. The proposed three-year operational track record requirement could delay infrastructure monetisation and new project funding. Lenders prefer asset quality over trust age for financing eligibility. This change aims to ensure smoother fund recycling and attract global investors for new infrastructure projects.