The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
The incoming government will have to encourage private investments, bring down cost of capital
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
The BSE Sensex jumped 70.42 points to end at 34,503.49, while the broader NSE Nifty finished at 10,651.20, up 19 points.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
First case filed after new norms come into force, NCLT admits plea.
Profit-booking by participants in view of the domestic markets' recent record-setting run fuelled the downtrend
The benchmark indices have rallied 28 per cent this year, while the broader market has outperformed
It was an extremely volatile session, borne out by the Sensex swinging over 1,200 points through the day and the Nifty 369 points.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The seven people arrested will be produced in a designated CBI court to seek their remand, CBI sources said.\n\n
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
The surge is a stark turnaround from 2013 when the country's current account gap hit a record high due to outflows on expectations the US Fed would rein in its stimulus programme
Seven students were made international offers.
Reserve Bank of India should introduce interest rate options based on Indian rupee benchmark, a financial derivative instrument, to meet future financing requirements of clients, according to the representatives of leading private banks.
Broader market underperformed the headline indices
The wider Nifty hit a low of 10,033.35 before finishing at 10,044.10, down 74.15 points or 0.73 per cent.
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
'The UPA was the gang that couldn't shoot straight. The NDA is the gang that can't stop shooting. They (the Modi government) are shooting at anybody, everybody, all directions, shooting themselves in the foot.'
Calling the demat scandal in Yes Bank IPO allocation as "the tip of the iceberg", Investors' Grievances Forum on Wednesday demanded an inquiry into allocation of retail portion of almost 25 public issues that hit the market after June 1, this year.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
'After multiple days of losses, any relief rally is welcome. However, the trend hasn't changed.'
Borrowers haven't heard the last of interest rate hikes, as more banks are preparing to raise lending rates in the days ahead to offset increase in their cost of funds.
Raids have been conducted at 21 places in Ahmedabad, Mumbai and Delhi.
The broader NSE Nifty dipped below the 10,200-mark to hit a low of 10,180.25 before ending at 10,195.15, down by 165 points, or 1.59 per cent.
A list of 25 companies that are suspected to be operating bogus demat accounts has been handed over to market regulator SEBI by Investor Grievance Forum demanding a probe into their operations.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
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