Whalesbook
Market Makers, Sunein RBI Governor Ki Baat!
RBI Governor Sanjay Malhotra ne kaha ki markets mein jo privileges milte hain, jaise ki RBI liquidity access, woh bade responsibility ke saath aate hain. Yeh baat Bali mein hui FIMMDA-PDAI Annual Conference mein kahi gayi. Unhone banks aur primary dealers ko samjhaya ki unke business goals ko RBI ke overall objectives se match karna hoga. Yeh log OTC derivatives markets mein kaafi influence rakhte hain, toh yeh zaroori hai ki sabko fair market access mile aur deals clear aur fair terms pe ho.
Yeh sab isliye bhi zaroori hai kyunki March 2025 mein Indian Rupee mein 4% se zyada ki girawat aayi thi, jismein geopolitical events aur speculative trading ka bhi haath tha. RBI ne phir kuch restrictions lagayi thi, jaise onshore rupee derivatives pe net open positions limit karna.
Abhi Bhi Bahut Scope Hai!
Governor Malhotra ne India ke financial markets ke kuch areas pe bhi baat ki jahan sudhaar ki zaroorat hai. Unka kehna hai ki credit derivatives market, khaas kar Credit Default Swaps (CDS), corporate debt default risks ko hedge karne ke liye abhi bhi utna use nahi ho raha jitna hona chahiye. India mein iska growth bond market structure aur regulatory challenges ki wajah se slow hai.
Dusri important cheez hai FX Retail platform ka adoption. Malhotra ne banks se kaha ki woh is platform ko zyada accessible banayein taaki individuals aur small businesses ko bhi fair terms mil sakein. RBI ka pilot program, jo FX-Retail ko Bharat Connect bill payment system se jodta hai, iska ek example hai jo October 2025 mein launch hua tha.
India Ki Economy Mazboot Hai, Global Challenges Ke Baad Bhi!
Global economic headwinds ke bawajood, India ki economy kaafi resilient dikhi hai. Strong domestic consumption aur public investment se growth bani hui hai. Q1 FY 2025-26 ke GDP figures 7.8% expansion dikhate hain, jismein services sector ne achha perform kiya. FY 2025-26 ke liye GDP growth 6.6% rehne ka andaaza hai. Foreign exchange reserves April 24, 2025 tak lagbhag $698.5 billion the.
Lekin, March 2025 mein rupee pe pressure tha aur iske March 2025 tak 87 tak girne ka forecast bhi tha, jo dollar ki strength aur trade tensions se influenced tha. April 2026 tak rupee ne record lows bhi dekhe. RBI currency management kar raha hai, lekin yeh dikhata hai ki global shocks aur speculation ka asar abhi bhi hai.