RBI tightens capital flows by banks
Reserve Bank of India has put hold on the proposed increase in ceiling on overseas borrowings by banks. RBI was established on 1st April 1935. In progressed chart of RBI for 2007, Cancer Ascendant is rising. Ganesha notes that Saturn is transiting through Cancer in the progressed Ascendant and progressed Moon is posited in Virgo. This indicates that RBI may wish to establish some restrictions over its strategies. Moon and Mars conjunction in the progressed chart is indicating satisfactory financial inflow. Mercury is placed in Gemini in the 12th house of progressed chart and is retrograde, making trine with Natal Moon of RBI’s establishment horoscope. This indicates that though this step is intelligently taken, it might affect Indian business concerning foreign countries or investments heavily. With Jupiter’s entry in Sagittarius in last quarter of 2007, there may be a change in decision and after RBI’s next birthday in April 2008, it may come up with new financial strategy. In short, the decision taken by RBI at present could be short-lived, says Ganesha.
With Ganesha’s Grace,