RBI Governor Shaktikanta Das said that early containment of the pandemic could impart an "upside" to the economic growth outlook.
Top Sensex gainers include Hero MotoCorp, Bajaj Auto, Asian Paints, IndusInd Bank, HUL, and Maruti, rallying up to 5.87 per cent. While, ICICI Bank, NTPC and ITC slipped up to 0.13 per cent.
The bi-annual financial stability report noted that failure of an NBFC with the maximum capacity to cause solvency losses to the banking system will lead to a loss of 2.5 per cent of the total tier-I capital of the banking system.
Now, a panch witness, Manoj Panara,turned hostile in the case.
Faced with a certain ouster, Boxing India secretary general Jay Kowli has resigned ahead of BI's much-anticipated Special General Meeting in New Delhi.
'Outside the core voter base of upper caste Hindus, there is a large section unhappy with the performance of the BJP.'
The rate of price rise for food articles stood at 11.51 per cent during January as against 2.41 per cent a month earlier, while for non-food articles it rose nearly three-fold to 7.8 per cent from 2.32 per cent in December, the data released by the ministry of commerce and industry on Friday showed.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Indian troops retaliated befittingly to silence the Pakistani guns along the LoC in Mankote, Mendhar and Khari Karmara sectors in Poonch district and along the IB in Hiranagar sector of Kathua district, they said, adding there was no immediate report of any casualty.
Stressing that economic growth will only move upwards, the Reserve Bank of India Governor Shaktikanta Das on Friday pegged the GDP growth rate for the next financial year at 10.5 per cent, though a tad lower than the government's projection of 11 per cent. The projection is in line with the estimates in the Union Budget 2021-22 presented in Parliament earlier this week. The Economic Survey, tabled by the government in Parliament recently, has projected that the economy will grow at 11 per cent, up from an estimated historic decline of 7.7 per cent in 2020-21, on account of the COVID-19 pandemic.
The Reserve Bank has reduced interest rate by 150 bps since January 2015.
India has recorded more than 4 lakh daily COVID-19 recoveries in a single day for the first time, while new coronavirus infections settled below 3 lakh for the second day, the Union health ministry said.
A new body is in place to run boxing in India but the turmoil in the sport seems far from over with the Indian Olympic Association sitting on Boxing India's request for recognition even as its ad-hoc committee invited entries for next year's National Games despite having no validity.
The government on Thursday hiked by 62 per cent the price of natural gas that is used to produce electricity, make fertilisers and turned into CNG to use as fuel in automobiles and cooking gas for household kitchens. This is the first increase in rates since April 2019 and comes on back of firming benchmark international prices but does not reflect the spurt in spot or current price of liquefied natural gas (LNG) witnessed during the last couple of weeks. The oil ministry's Petroleum Planning and Analysis Cell (PPAC) said the rates paid for gas produced from fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will be $2.90 per million British thermal unit for the six-month period beginning April 1.
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
The pandemic has changed the way people see the government. It has eroded trust in the administration's ability to tackle a crisis, any crisis, observes Devangshu Datta.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
The Indian Railway plans to launch 101 new suburban trains in Mumbai. The Railways will also launch 10 more Duranto trains.
There have been more than 60 ceasefire violations by Pakistani troops along the LoC and IB in the state since surgical strikes against terror launch pads by the Indian Army in Pakistan-occupied Kashmir.
In a bid to support revival of sectors hit most by the Covid-19 pandemic, Reserve Bank of India on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
The Reserve Bank's rate-setting panel, Monetary Policy Committee (MPC), began its three-day deliberations on Wednesday amid expectations of a status quo on benchmark rate mainly on account of uncertainty over the impact of the second wave of COVID-19 pandemic. Moreover, the fears of firming inflation may also refrain the MPC from tinkering with the interest rate in its bi-monthly monetary policy outcome to be announced on Friday. The RBI had kept key interest rates unchanged at the last MPC meeting held in April.
Inflation target remains 5% for January 2017.
Amid uncertainties arising out of the second wave of COVID-19, the Reserve Bank on Thursday said that a durable revival of private consumption and investment would be critical for sustaining economic growth post-pandemic. Observing that 2020-21 has left a scar on the economy, RBI in its annual report said, "in the midst of the second wave as 2021-22 commences, pervasive despair is being lifted by cautious optimism built up by vaccination drives." The second wave of the pandemic has prompted revision of growth projections for the current fiscal and the consensus appears to be gravitating towards RBI's forecast of 10.5 per cent, the report added.
Leadership, teamwork, communication, productivity, and wellness skills are essential for every employee's success.
The non-food component in the price basket will continue to keep inflation at a high level and result in a "long pause" in interest rates, a foreign bank said on Wednesday. The central bank is likely to pare the pandemic-driven emergency response as well, the report by Singaporean lender DBS said. It can be noted that the high inflation driven by the food prices has forced the RBI to go for a status quo in rates for the three consecutive reviews of the bi-monthly policy meetings, even as growth continues to be in the negative territory.
The ministry said 24.44 per cent of the total active cases in the country have been reported from 10 districts including Bengaluru Urban, Pune, Delhi, Ernakulam, Nagpur, Ahmedabad, Thrissur, Jaipur, Kozhikode and Mumbai.
'The BJP would like to capitalise on Yogi's tough image on criminals, law and order situation, and hands-on CM.' 'Modi will be an additional advantage, but it is primarily a contest between Yogi and Akhilesh.'
As per the data released by the NSO, the overall food inflation rose to 14.12 per cent in December as against (-) 2.65 per cent in the same month of 2018.
Mamata Banerjee-led Trinamool Congress overcame the might of the BJP and is all set to be CM for a third term.
Relationship problems? Let Love Guru help.
Available data obscures the true stress in bank books, and the pandemic will result in balance sheet impairments and capital shortfalls at lenders, RBI Governor Shaktikanta Das said on Monday. Balance sheet impairment and capital shortfalls will be more evident once the regulatory reliefs are rolled back, Das said in the bi-annual Financial Stability Report, asking lenders to augment capital.
Short-term lending (Repo) rate is unchanged at 8 per cent.
India and Indians can ignore Pakistan, but that cannot be said of other nations in the neighbourhood, where New Delhi's 'Neighbourhood First' policy constantly reverberates. Four of the eight SAARC member-nations are Muslim -- Afghanistan and Pakistan, Bangladesh and the Maldives. The rulers decide the nation's India or anti-India policy in the first two, and street-opinion contributes to the same in the latter two, points out N Sathiya Moorthy.
The RBI has set up a panel to review ATM charges, and fees levied by banks.
Analysts at Barclays pitched for a 0.25 per cent cut to generate demand advising the central bank to throw caution to the wind.
The RBI has cut key rates to boost the economy.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 4 per cent, followed by SBI, Bajaj Finance, Bharti Airtel, Axis Bank, Sun Pharma, HDFC and PowerGrid.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
A new passenger train connecting Dhaka and New Jalpaiguri on the Indian side was inaugurated jointly by Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina via a video conference.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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