Tomato prices have been on the boil for more than a month. Data from major cities show that the spike has been between 125 and 150 per cent at the wholesale level. Soaring vegetable prices, including tomatoes, pushed the retail inflation rate to a nine-month high of 5.49 per cent in September, according to government data. Though reports say prices are expected to come down in the next few weeks after supplies improve from Madhya Pradesh and Himachal Pradesh, how long will the respite last is anybody's guess.
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
Wholesale inflation in the country rose for the fourth consecutive month in June at 3.36 per cent on account of rise in prices of food articles, especially vegetables and manufactured items. The wholesale price index (WPI) based inflation was 2.61 per cent in May. It was (-) 4.18 per cent in June 2023.
India's forex reserves dropped by $2.03 billion to $646.67 billion for the week ended May 24, the Reserve Bank said on Friday. In the previous reporting week, the kitty had reached an all-time high of $648.7 billion after a jump of $4.55 billion.
A number of non-banking financial companies (NBFCs) have tapped into the debt capital market ahead of the festival season to meet increasing credit demand as bank funding slows. On Tuesday, Aptus Value Housing Finance secured Rs 300 crore at an interest rate of 8.75 per cent through bonds maturing in five years. ICICI Home Finance Company turned to the market to raise Rs 275 crore at 7.94 per cent, alongside another Rs 300 crore at 7.95 per cent, through bonds maturing in five and three years, respectively.
The Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth, the Reserve Bank Bulletin said on Tuesday. "The likelihood of the global economy exhibiting stronger than expected growth in 2024 has brightened in recent months, with risks broadly balanced," said an article on 'State of the Economy' published in the bulletin.
Balance-level delinquencies in the credit card segment saw a 17 basis points (bps) year-on-year (Y-o-Y) rise in the quarter ending June 2024 (Q1FY25). In all other credit segments, including personal loans, delinquencies declined even as retail credit growth moderated, consequent to banks tightening the supply of credit to the unsecured segments, a report by TransUnion CIBIL said on Monday. Data shows that balance-level delinquencies, measured in terms of 90 days or more past due, in the credit card segment stood at 1.8 per cent in Q1FY25- highest among all other credit segments.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
The Reserve Bank of India on Friday retained its projection for retail inflation at 4.5 per cent for the current fiscal assuming a normal monsoon, while emphasising that uncertainties related to food price outlook warrant a close monitoring. Consumer Price Index (CPI)-based retail inflation has been projected at 4.5 per cent with quarter-wise projections at 4.9 per cent in Q1 (April-June), 3.8 per cent in Q2, 4.6 per cent in Q3, and 4.5 per cent in Q4.
Rs 135.3 crore. How much of it was salary, and how much commission?
The Reserve Bank of India (RBI) on Thursday said 97.76 per cent of the Rs 2000 denomination banknotes have returned to the banking system, and only Rs 7,961 crore worth of the withdrawn notes are still with the public. On May 19, 2023, the RBI announced the withdrawal of Rs 2000 denomination banknotes from circulation.
India's manufacturing sector growth eased slightly in July, on softer increases in new orders and output, while cost pressures and demand strength led to the steepest increase in selling prices since October 2013, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) moderated slightly from 58.3 in June to 58.1 in July.
India added nearly 4.7 crore jobs during 2023-24, taking the total number of employed people to 64.33 crore spread over 27 sectors covering the entire economy, according to Reserve Bank data. The number of employed people was 59.67 crore at the end of March 2023, said the RBI's update on 'Measuring Productivity at the Industry Level-The India KLEMS [Capital (K), Labour (L), Energy (E), Material (M) and Services (S)] Database'.
India's forex reserves jumped $4.307 billion to a new all-time high of $655.82 billion for the week ended June 7, the Reserve Bank of India (RBI) on Friday. The kitty had jumped $4.84 billion to $651.51 billion in the previous reporting week.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
Retail inflation eased to a one-year low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low).
When evaluating bonds, returns shouldn't be the sole factor. Pay close attention to the bond's credit rating. It should ideally be AA or higher.
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
India's forex kitty jumped by $10.47 billion to $636.09 billion for the week ended March 8, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by $6.55 billion to $625.63 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
The Reserve Bank of India (RBI) on Wednesday issued a draft framework for alternative authentication mechanism for digital payments, wherein it has mandated that all digital payment transactions would have to be authenticated with an additional factor of authentication (AFA), except small value contactless card payments for up to Rs 5,000 at point of sale terminals, e-mandates for recurring transactions, and small value digital payments through offline mode, among others. Additionally, it has said that all digital payment transactions, other than card present transactions, have to ensure that one of the factors of authentication is dynamically created, i.e., the factor is generated after initiation of payment; is specific to the transaction; and cannot be reused.
Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank's target of 4 per cent, according to official data released on Friday. The Consumer Price Index (CPI) based retail inflation was 5.09 per cent in February and 5.66 per cent in March 2023. Previously, CPI-based inflation was the lowest at 4.87 per cent in October 2023.
India's foreign exchange reserves have jumped to an all-time high of $651.5 billion as of May 31, Reserve Bank Governor Shaktikanta Das said on Friday. This means the overall kitty has increased by $4.83 billion since the last reported number of $646.673 billion on May 24 this year.
Back in March this year, when the Reserve Bank of India stepped in with a cap of 60 per cent on the loan-to-value ratio for gold loan non-banking financial companies, it said it was acting to pre-empt systemic risks and to safeguard public funds.
An analysis by the Securities and Exchange Board of India (Sebi) has revealed that retail traders remain at the wrong end of the stick when it comes to equity derivatives trading. About 93 per cent of them incurred an average loss of Rs 2 lakh (per trader) during the last three financial years. The new report highlights an increase in the loss-making individual investors in futures and options (F&O) to 91.1 per cent in FY24 compared to 89 per cent in FY22.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
With 7 per cent economic growth, India is not creating enough jobs as reflected by the number of applicants for vacant posts in some states, Reserve Bank's former governor Raghuram Rajan said and suggested the government needs to focus on promoting labour-intensive industries to generate employment. Rajan further said some Indians, especially those at upper level, are comfortable and have high incomes, but consumption growth from the lower half of the country has still not recovered to pre-pandemic level.
Reserve Bank of India on Friday said NPCI has been asked to examine the possibility of it becoming a third party application provider for continued UPI operations of the Paytm app. The central bank has barred Paytm Payments Bank from accepting further credits into its customer accounts and wallets after March 15, 2024.
Benchmark stock indices Sensex and Nifty rallied more than 1.6 per cent to close at lifetime high levels on Thursday following buying in banking, oil and auto shares and a record dividend payout by the RBI to the government. Regaining the 75,000 level after its best single-day gain since January 29, the 30-share BSE Sensex closed at all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent over the last close.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
'So, we would work with our members to ensure that we as an SRO create some sort of due diligence for fintechs.'
The Reserve Bank of India (RBI) has said it expects several companies which have raised money through foreign currency convertible bonds (FCCBs) to face severe funding problems in the next two years due to lacklustre equity markets.
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
There are respected names arguing both for and against this recommendation of the Urjit Patel committee.
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers. Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
Finance Minister Nirmala Sitharman on Monday held a performance review meeting with heads of public sector banks and asked them to make concerted efforts to garner deposits. Deposits have been growing 300-400 basis points lower than the credit growth in the last few months, creating an asset-liability mismatch for banks. During deliberations on the deposit mobilisation, she said that while the credit growth has picked up, mobilisation of deposits could further be improved to fund the credit growth sustainably, and asked banks to make concerted efforts to garner deposits by conducting special drives.
'The impact of CBDC on deposits and deposit insurance is largely unknown.'
The introduction of tax deducted at source (TDS) on income from central government securities and state bonds may not lead to a significant effect on retail participation, according to market participants. The Union Budget proposed that starting October 1, 2024, investors may face a 10 per cent TDS on investments in central government securities and state development loans (SDLs). "Last Budget, TDS on interest on securities was reintroduced.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances