The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
The RBI cut rates for third time in 2015 due to favourable economic conditions.
They pointed out that Finance Minister Nirmala Sitharaman relies a lot on divestments, where the government under-performed in FY2019-20, to achieve the 3.8 per cent fiscal deficit target.
ICICI Bank edged past foreign banking majors Citibank and Standard Chartered Bank to emerge as the best retail bank in India, according to the latest issue of 'Asian Banker Journal'.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
The Bharti Group is raising $320 million in loans from a clutch of banks, including ABN AMRO and Singapore's DBS Bank, group chairman Sunil Mittal said on Tuesday.\n\n\n\n
The combined 10 Asian currencies have appreciated by 6.6%.
RBI's surprise rate cut has revived sentiments of India Inc.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
The CBI also told the court that it has sought Interpol's help in seeking access to overseas bank accounts of the Mukerjeas
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
China would be an influential player in the bank
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
The most common complaint of financial consumers is cumbersome processes, complicated products, usurious charges, and mis-selling of products, which finally don't deliver what is promised or as expect, notes Debashis Basu.
Forex dealers said besides dollar's gains against the euro overseas, increased demand from importers for the US currency and a lower opening in the domestic equity market also put pressure on the rupee.
Industrial production in November was expected to grow 1.0 per cent from a year earlier, after shrinking 1.8 per cent in October, according to the median consensus of 20 economists.
It has already cut the rate three times this year to loosen credit and boost slowing growth in Asia's third-largest economy.
According to Nielsen India online viewership has doubled since 2011.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Offshore rupee debt was likely to attract good demand
Experts hail Budget 2015 as a progressive, growth oriented one.
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't anticipate another rate cut before a new governor is on the job
'The reason is that you may not enter the branch but you want to see it near you as it establishes trust.'
However, some analysts say RBI Governor Raghuram Rajan may delay the rate cuts amid mounting concerns over the government's fiscal health.
The parlous state of Asia's third largest economy was reflected in the rupee's 18 per cent plunge against the dollar to all time lows since May, when signals emerged that the US Federal Reserve was considering winding down an easy money strategy that had benefitted emerging markets like India.
While headline and core WPI are stuck in a disinflationary phase, the retail measure is inching north.
Monetary policy easing in India puts it out of step with the United States, the world's largest economy, where interest rates are expected to rise later this year
A moderate recovery in Indian factories, exports and investments were probably the main drivers for an increase in overall growth in the quarter through March.
The Reserve Bank of India held its policy rate at 7.25 percent on Tuesday.
New Delhi has missed its target for partial privatisations for the past five years
A Reuters poll showed only one out of 51 economists had expected a 50 basis points rate cut.
New offerings by banks are changing the way you transact.
Will RBI chief have the final say, in the form of a veto
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
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