The restaurant business has been under a lot of pressure of late, but now the buzz is that the sector is seeing a revival, across formats to boot.

Reserves help RBI tide over tough times and should be managed accordingly.

The move comes in the wake of the Infrastructure Leasing & Financial Services (IL&FS) default, wherein the role of credit rating agencies (CRAs) came under the regulatory scanner.

RBI has paid over Rs 50,000 crore every year with the exception of demonetisation year, when its income fell and expenditures rose because of printing of notes etc.

The government believes that the RBI is one of the most highly capitalised central banks in the world and its reserves are excessive compared to global benchmarks.

The government has asked the RBI for a dedicated liquidity window for these lenders similar to one allowed for the entire Indian financial sector during the 2008-2009 global financial crisis.

Dewan Housing Finance Corporation (5.16%), Indiabulls Housing Finance (6.04%), Reliance Home Finance (3.13%), Gruh Finance (2.02%), VLS Finance (1.06%), Reliance Capital (1.33%), PNB Housing Finance (1.01%), and LIC Housing Finance (2.36%) were the major losers in the sector.

The Reserve Bank of India permitted banks to grant partial credit enhancement to bonds issued by non-banking financial companies and housing finance companies, listed with the Reserve Bank of India  and the National Housing Bank respectively.

HDFC (5.51%), IndusInd Bank (4.47%) and Infosys (4.02%) were the top Sensex gainers. Market breadth was positive with 1,612 stocks closing higher compared to 941 ending lower on the BSE.

RBI Deputy Governor Viral Acharya compared government's 'myopic' economic policies to a T20 cricket match, in contrast to the long-term planning of a central bank, which he called a Test match.