High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
As the team gears up for the ODIs, all-rounder Hardik Pandya took some time off along with his team mates in South Africa.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
No word on appointment of Shagun Kapur Gogia
The Malegam committee on the RBI's capital adequacy had suggested that the RBI must move away from its methodology to calculate the foreign exchange gains to a weighted average cost-based valuation method. Central bank may done away with provisioning requirements, to enable higher transfer of surplus in the 2017-18 fiscal, analysts say.
At least a 25 basis points hike can be expected on the October 5 policy
The supply-side driven inflationary pressures, from food or fuel prices, would be mitigated by a neutral stance and a prolonged pause on rates, says Gaurav Kapur.
'Whatever happened at the Asian Games, that's a big learning curve for the players, coach and the staff.'
By no means do economists see the Reserve Bank of India stop at just a 25-bp cut. Some of the economists such as Soumyakanti Ghosh of State Bank of India are of the firm view that rates have room to fall by a total of 75 bps in the current financial year, starting with 25 bps in the August 7 policy.
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Monsoon is critical for the country's 263 million farmers and their rice, cane, corn, cotton and soybean crops because nearly half of its farmland lacks irrigation.
The Reserve Bank of India (RBI) is expected to keep policy rates unchanged at a six-weekly rate review on Tuesday, ending a year-long cutting cycle as it focuses instead on underpinning the plunging currency.
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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.
The central bank has, so far, cut its repo rate by 125 bps.
The continued rise in interest is a pressure on fiscal, but it is not an easy way out unless the government cuts back on populist measures and sticks to fiscal prudence as laid out in the FRBM, which the government missed for the second consecutive year.
Rather, the existing ones should be implemented speedily to clean up the mess.
India's top golfers returned to practice at courses across the country after weeks of inactivity brought about by the COVID-19 pandemic.
It was an excellent day for India's seasoned professionals. Three of them ended the first day inside top-10 in the star-studded US $2.5 million Malaysian Open, sanctioned by the Asian Tour and European Tour. While Jeev Milkha Singh (65) was one off the leader, Charl Schwartzel of South Africa, Jyoti Randhawa found his touch with a 66 to be tied third and Gaurav Ghei (68), a three-time winner on Asian Tour, was tied ninth.
(Thanks to their Instagram feeds we now know! :-P)
'If you do find it, don't let it go.' 'We often take relationships and people we love for granted.'
2013 foreign currency non-resident deposits to mature in Sep-Nov
The hits and misses of the week.
Jeev Milkha Singh sizzled with a five-under 67 but it was rookie Anirban Lahiri who set the greens ablaze with a flawless sevenunder 65 to grab the opening round lead in the Rs 80 lakh BILT Open on Thursday.
Amazon Prime Video has doubled its content investments in India and announced as many as 41 new titles in Hindi, Tamil, Telugu and English, thereby throwing an open challenge to their streaming competitor, Netflix.
Jeev Milkha Singh moved to tied second after the third round of the Enjoy Jakarta Astro Indonesia Open.
Check out the star attendees and winners of the CAMA awards 2017.
More than 70 top golfers, including Jyoti Randhawa, Gaurav Ghei and Shiv Kapur, are set for launching a Tour of their own.
RBI has, since January, cut its policy rate four times.
Fijian Dinesh Chand and Japan's Kaname Yokoo fired six-under 65 to share the opening day's glory at the Japan Okinawa Open.
Gaurav Ghei was the lone Indian to ensure action over the weekend at the BMW Asian Open golf tournament.
The Chandigarh golfer had a good round of three-under 69 to be tied 11th on the first day of the Volkswagen Masters China.
The Indian contingent at the BMW Asian Open golf had a tough time with none of them coming under par.
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