Bank Nifty pared all its intraday gains to end over 1% lower led by losses in BoB, ICICI Bank, Axis Bank and Bank of India
Reliance Industries (RIL) was the top-performing index stock on Friday (May 26) and closed the day with gains of 2.8 per cent, against a 1 per cent rise in the benchmark S&P BSE Sensex during the day. RIL's performance on the bourses on Friday was, however, an exception, and the stock has struggled to beat the broader market for nearly two years now. The company's share price is currently at the same level as in September 2021, while the benchmark index is up 6 per cent in the period.
It may be a 'no-go' for banking licences to large industrial houses.
According to Soumya Kanti Ghosh, chief economic advisor of the State Bank of India group, a 50 bps rate cut is a possibility, but 25 bps is more likely.
Economy improving but long way to full recovery, says FSDC.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
The WPI number follows retail inflation (CPI) data, which had slipped to a record low of 3.78 per cent in July.
'RBI is already late in addressing inflation pressures.'
Finance Minister expects rate cut by RBI.
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
As we say shalom to 2016, the key drivers for the markets in the year ahead have become more obvious, says Neeraj Gambhir, managing director and head of fixed income, India, Nomura. First, there is a surging dollar. Second, rising commodity prices. Then, we have the effects of demonetisation.
Tuesday's policy announcement had a regulatory and development component.
RBI Governor Raghuram Rajan expressed anguish at the banks' reluctance to pass on benefits of the earlier rate cuts.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The specifics will also cover what's fit and proper to be a chest manager; the insurance and re-insurance aspects; and the new capital threshold, which is Rs 100 crore now.
RBI seen cutting repo rate 25 bps on Sept 29, says a poll
The RBI's projections for consumer inflation over the rest of the year indicate some acceleration, with the rate reaching eight per cent in its baseline scenario.
The Reserve Bank of India kept interest rates on hold at 7.50 per cent.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
The main reason was that CPI inflation would likely remain below 4 per cent till July.
Leeway on CRR and SLR was a long-standing demand from banks, which the RBI did not agree to till recently.
RBI's status quo on rates disappoints economists.
There's need to address growth, but weak rupee putting pressure on prices.
Banks and exporters preferred to reduce their dollar position in view of its weakness.
The RBI is expected to cut rates in next policy.
The majority have stayed away from getting into cash handling.
RBI, in its first bi-monthly monetary policy statement, left the short-term lending rate, or repo rate, unchanged at 8 per cent and the cash reserve ratio static at 4 per cent.
India's manufacturing PMI rose to 54.5 in December, 2014, while in the corresponding period a year ago it stood at 50.7, just above the crucial 50 mark which separates growth from contraction.
'There will be positive growth, but if you ask me whether we are going to have the original growth rate of 8%, the answer will be, no.'
Most analysts have downgraded the stock of SBI Cards and Payments (SBI Card) as the credit card issuer posted weak results during the December quarter (Q3) of financial year 2023-24 (FY24). The sub-par show, analysts said, was for the eighth straight quarter. With this, they have slashed their earnings estimates by as much as 20 per cent over FY24-26 amid near-term pressure points in the company's growth outlook.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
RBI Governor has been under pressure from Finance Ministry.
Hawkish tone likely to guard rupee from further slide
Calling out the high real interest rates -- the differential between the policy rate and headline inflation -- as an impediment to investment, the SBI report said the RBI can cut rates by 0.35-0.50 per cent at its next policy announcement.
This development can strengthen the case for interest rate cut by the RBI.
The problem for the NBFC sector is the funding inertia by banks and not lack of funds.
The implementation of MCLR from April 1 has already led to a rate cut of 10 basis points on home loans by the country's largest bank, State Bank of India, and others.
Anaysts recommend a 'buy' on Icra due to its positive outlook.
