RBI would get the comfort of meeting its 8 per cent January Consumer Price Index-based inflation target, BofA-ML said, adding that 'we expect the RBI to cut 75 bp in 2015 from February with inflation on course to 6 per cent in January 2016'.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Ahmedabad-based crypto firm Kali Digital Ecosystems' plea against the ban will be heard on July 20.
There are already some signs of stress in this market.
Full capital convertibility means a foreign investor can repatriate his money into his own local currency at will.
We need a change in mindset, says the RBI Governor.
A two-year extension at the helm of the RBI still looks a real possibility
Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
A small percentage of asset allocation to bitcoin seems like a reasonable gamble, as it could be a major gainer in an uncertain global environment, says Devangshu Datta.
RBI is likely to have reached broadly similar conclusions since it did cut rates, presumably to stimulate activity.
India's macroeconomic situation is improving fast and the country's GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said on Sunday. Goyal in an interview to PTI said the management of the COVID-19 pandemic and gradual unlocks announced by the government have helped in avoiding multiple COVID-19 peaks. The growth estimates by different agencies are being continuously revised, she said.
Declaring demonetisation a complete failure may turn out to be hasty, argues economist Ashok K Lahiri.
A glance back at some important events that occurred in 2018.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Jaitley has made it a habit of giving soundbytes to the media like his predecessors on why RBI should cut interest rates
Opposition members in the Lok Sabha on Monday blamed the Bharatiya Janata Party-led central government's policies for the price rise and accused it of ignoring the plight of common people, saying kitchens will soon "see a lockdown" if the Centre does not take corrective measures.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
CRR to remain unchanged at 4.00 pc this fiscal
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
Pharma major Lupin and mortgage lender HDFC were the top losers.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
While cancelling the legal tender of 500 and 1,000 notes on November 8, the government had allowed them to be used for utility bill payments for the first 72 hours. This deadline was extended repeatedly and the last extension was granted till December 15.
Cash withdrawal limits likely to continue
Because of Rajan's policies, the banking system has mustered enough courage to disclose their toxic assets
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
'India needs to adopt a more proactive policy of triggering exports to China.'
China, it said, is projected to grow at 6.6 per cent in the current year which will moderate to 6.4 per cent next year.
Earnings growth in the early-bird sample has been driven by banks and iron & steel companies.
SBI's gross NPA figures have shown a decline for three consecutive quarters.
Market participants are now awaiting Thursday's meeting of the European Central Bank
Given the volatility of the global marketplace, India is already on a strong wicket and well poised to provide a lucrative option to foreign investors.
In these times of global uncertainty, be cautious in selecting the right market and fund.
About Rs 15 lakh crore of high-value notes were scrapped, against which RBI has managed to supply roughly Rs 4 lakh crore worth of notes in the market so far, Anup Roy/Business Standard reports from Mumbai.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
Under the scheme coming into effect from April 1, 2018, a donor could purchase bonds from authorised banks against cheques or digital payments. These would be redeemed only in the designated account of a registered political party.
India's record current account deficit has been a key reason behind why Standard & Poor's and Fitch Ratings cut their outlooks on the country's sovereign rating to 'negative' last year.
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
China's economy is worse than it really is, but then these are emblematic of the baffling self-congratulatory mood that exists in India today.
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