The comment was in response to a June 19 Reuters story citing sources with knowledge of the matter as saying that India planned to clear some oil payments to Iran through the United Arab Emirates central bank.
Finance Minister Nirmala Sitharaman has said the recent interest rate hike by the Reserve Bank was not surprising for her but the timing was, asserting that the rising cost of funds will not impact the government's planned infrastructure investments. For the first time since August 2018, RBI had on May 4 delivered a blunt 40 basis points increase in key repo rate to 4.40 per cent, and also hiked the cash reserve ratio by 50 basis points to 4.5 per cent after an unscheduled meeting of the rate setting panel, citing increased inflation pressures following the Ukraine war and the resultant spike in crude oil prices. Retail inflation printed at 6.9 per cent in March and the April reading is forecast to top 7.7 per cent.
India has emerged as the brightest spot in the Asia Pacific region as reform has picked up pace in the country in recent months, a top credit rating agency has said.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
Noting that the United States economic recovery is still not strong enough, the Federal Reserve has said it would pursue with the proposed $600-billion government securities buyout plan.
Hema Malini spoke with Upasna Pandey about her preparedness and exuded confidence to win the election with "the grace of Lord Krishna and love of people of Mathura."
The AIADMK is convinced that the BJP will remain an electoral burden for a long time to come, beginning the Lok Sabha polls next year, reveals N Sathiya Moorthy.
In today's circumstances, however, getting people to borrow more is the last thing on the minds of financial service providers. Most of them are reeling under the weight of assets whose prices have declined precipitously because nobody in his right mind wants to buy them.
The faster-than-expected rise in interest rates by the US Federal Reserve (US Fed) shook global financial markets in early 2022. And now the ongoing war between Russia and Ukraine has lifted commodity prices, with Brent crude oil hitting a 14-year high of $139 a barrel in intraday trade. All these developments have sent the equity markets across the world into a tailspin.
'The potential headwind is that the Indian economy is likely to see a slowdown in growth rates over the next two years.'
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The minister, who will also be meeting foreign institutional investors whose money is key to funding CAD in the afternoon, did not speak to reporters waiting outside.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
The flows may stem and redemptions pressure increase following the market meltdown of Monday amid mounting cases of coronavirus infection globally.
There are more near-term global draggers in store for the domestic stock market, as the central banks across the US, Japan and Europe are likely to further hike their benchmark interest rates
Premium valuations era started in 2006 and went hand in hand with decline in the US interest rates
'Markets are factoring in a good show by India Inc in Q2.'
Titan was the top laggard in the Sensex pack, shedding 1.39 per cent, followed by HDFC, Axis Bank, Kotak Bank, HCL Tech and Tech Mahindra. On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv and ICICI Bank were among the winners, spurting as much as 3.25 per cent.
Stray dogs have the right to food and citizens have the right to feed community canines, the Delhi high court has said while observing that in exercising this right care and caution should be taken to ensure that it does not impinge upon others and causes no harassment or nuisance.
'If an investor is ready to stay put for the next five years, one can consider investing in mid- and small-cap funds, but through SIPs.'
Probably 35 bps. There could be even an encore in February 2023 to take the policy rate to 6.5% before the financial year ends, predicts Tamal Bandyopadhyay.
A rate cut will bring positive sentiment around the Budget.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
The RBI is widely expected to raise its key repo rate by 25 basis points to 8.00 per cent on Wednesday, its third such hike in four months after recent data showed both wholesale and retail inflation at multi-month highs.
While FIIs have pumped in nearly Rs 17,000 crore, MFs have been net buyers to the tune of Rs 9,000 crore.
On the completion of two years of the Pradhan Mantri Kisan Samman Nidhi, Prime Minister Narendra Modi on Wednesday said his government ushered a historic increase in the minimum support price (MSP) for crops and was doing everything possible to double the income of farmers.
Should you continue investing in stocks and mutual fund SIPs even as Indian stock markets keep sliding every other day and there is gloom all around?
Officers sitting over untapped potential to make COVID-19 vaccines need to be charged with 'manslaughter' as it is leading to so many deaths, the Delhi high court said on Wednesday, observing that a lot of scope and infrastructure is available in India which is not being used.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
Not just India, but Asian peers such as Indonesia, South Korea, Thailand, Taiwan and The Philippines have seen sharp FPI outflows this year
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
Invest in stocks of export-oriented and capital-intensive companies, says Devangshu Datta.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
It's been eight months since East Bengal triumphed in the Federation Cup but the age-old Kolkata club is yet to get the prize money for winning the tournament, thanks to dilly dallying on part of the All India Football Federation (AIFF).
The source said logistics became a big issue for almost all the participating countries.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
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