Hearing disorders are a problem that affects all age groups: As part of the “My Health” series, primary caregiver Gerd Rasp and audiologist Stefan Tschani gave a live presentation from the SN room on Thursday, April 13, from 7 p.m. The event can be viewed here.
Liquidity surplus in the banking system, measured by funds that lenders park with the central bank, climbed to its highest level in 9 months on accelerated government expenditure and overseas inflows into local financial assets, helping drive down money market rates.
The weighted average call rate, an operating target for the rate-setting panel at Reserve Bank of India (RBI), declined 13 basis points below the current repurchase rate of 6.50% on Thursday. This call rate represents overnight borrowing costs for banks. One basis point is 0.01 percentage point.
“This (the surplus liquidity) is pretty much government spending; we presume that tax collections have been fairly high and it’s also likely that they’ve (the government) drawn WMA,” said Saugata Bhattacharya, chief economist, Axis Bank. “In addition, it is likely there have been some foreign exchange inflows and RBI would likely have mopped up some of these dollars. That has also contributed to the liquidity.”
WMA, or ways and means advances, is an RBI overdraft facility that allows the Centre to avoid cash-flow mismatches while committing funds to capital projects.
ET Online
Stocks Shine, Rupee Rises RBI data show that so far in April, the central bank has absorbed a daily average of Rs 2.05 lakh crore from banks – and Rs 2.71 lakh crore on April 5. The last time banks had parked a larger amount with RBI was on July 6, 2022.It was also in that month that RBI received funds comparable with the Rs 2-lakh-crore daily average so far in April, the data show.NSDL data showed that foreign portfolio investors have acquired $1.1 billion worth of Indian equities so far in April, the largest monthly purchase so far in 2023. The rupee, too, has appreciated 1% so far this calendar year.
Intraday, the call money rate dropped as much as 190 basis points below the repo rate, reflecting the extent of excess liquidity.
At RBI’s policy statement on April 6, deputy governor Michael Patra flagged the enormity of likely government’s spending at the beginning of the year.
Typically, around 60% of government expenditure occurs in the first six months of a financial year. The Centre has earmarked Rs 10 lakh crore in the current fiscal for capex. Last fiscal, the government adopted a slower approach to capex spending until clarity emerged on its revenue streams, analysts said.
According to analysts, it was likely that amid its large spending push, the government was currently availing of the WMA.
Incidentally, surplus liquidity in the banking system comes amid ongoing redemptions of long-term repo operations conducted by RBI in 2020 to provide sufficient funds through the initial stages of the Covid-19 pandemic.
RBI data show that banks are scheduled to return a total of Rs 61,113 crore worth of funds to the central bank this month as the repos mature. Of this, Rs 33,935 crore worth of redemptions have already occurred.
Caution Ahead
Going ahead, however, liquidity conditions are set to tighten, in line with RBI’s stance of withdrawing monetary accommodation. Stripping away unpredictable foreign exchange flows, the principal catalyst for tighter liquidity would be increases in currency in circulation (CIC) in the economy, analysts said. Rising CIC results in funds leaving the banking system.
The children. Reachability. The non-participation of residents, just some of the counter arguments that citizens and some administrators cite once morest the arrival of a sex center in Zuid: RAI residents made themselves heard on Wednesday evening in a noisy demonstration. In Noord, things were much calmer during a discussion between the district committee and experts at the NDSM wharf, another designated site. But the meaning was the same: zero tolerance with the new red light, says AT5.
The initiator of the noisy demonstration on RAI considers the idea of a sex center in her neighborhood a real threat to the safety of Zuid’s children. In addition to parents and their children, older Amsterdammers are also making themselves heard. “I won’t go on the subway anymore,” an elderly lady tells AT5. At the end of the rally, citizens handed over 7633 signatures to the Zuid district committee.
In Noord, a so-called expert meeting was much quieter but the gist remains the same: not here. “We find the Docklandsplot on the NDSM unsuitable as a location,” he says district president Brahim Abid. Earlier this week, he and two other rebel district councilors already published a draft recommendation containing the rationale for Noord’s “no”.
The Minnesota Wild and Marco Rossi close the NHL regular season with a 3-4 following overtime at the Nashville Predators.
While Nic Petan, who was also pulled up, scored a point with his first goal to make it 3:3, the Austrian has to wait for his first goal or another scorer point.
With 17:31 minutes of ice time, the 21-year-old is well used and also sees almost a minute each in power play and penalty killing. Although he has to end the evening with a plus-minus balance of minus two, especially towards the end of the game Rossi’s appearance is more self-confidence.
New contract for Gaudreau – Wild vs. Stars or Avalanche
It’s a successful day for Wild striker Frederick Gaudreau: He signs a contract extension for five years and 10.5 million US dollars before the game. He thanks the trust with a double pack, his season goals 18 and 19.
The Minnesota Wild finish third in the Central Division and will face the winner of the first round of the playoffs: the Dallas Stars or the Colorado Avalanche.
The “Avs” are a point behind and still have a game to play – away to Nashville on Saturday night. They need two points to go past and become the Wild’s playoff opponent, if tied, Dallas is ahead.
The Vegas Golden Knights go into the Stanley Cup Playoffs as the number one West in the West following a 3-1 win at the Seattle Kraken. They’re keeping the Edmonton Oilers in check, who have to settle for second place despite beating the San Jose Sharks 5-2 in their ninth straight win.
The Carolina Hurricanes secure the Metropolitan Division win with a 6-4 win over the Florida Panthers. The New Jersey Devils – 5-4 following overtime at the Washington Capitals – are second and look forward to a hot “Hudson River Derby” once morest the New York Rangers in the first round.
