Many officials had been talking of taking the baton of global growth.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
2013 foreign currency non-resident deposits to mature in Sep-Nov
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.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
'With the ease of access, we have seen an increased participation from tier-2, tier-3, and tier-4 cities/towns.'
The Reserve Bank of India kept its policy interest rate unchanged at a five-year low of 6.50 percent on Tuesday.
If banks have a surplus, they have the option of parking the money with the RBI.
Indian factory growth likely slowed in Jan, inflation to stay muted.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Ultimately quotas kill talent and true meritocracy, argues R Jagannathan.
Benchmark Sensex declined 224 points on Wednesday, snapping its four-session winning streak, mainly due to sell-off in IT and pharma counters amid rising concerns over possible aggressive interest rate hikes to tame high inflation. The 30-share index rebounded more than 1,200 points from the early lows before settling at 60,346.97 points, a total loss of 224.11 points or 0.37 per cent compared to Tuesday's closing level. The broader NSE Nifty closed lower 66.30 points or 0.37 per cent at 18,003.75 points.
There is a narrow chance that the central bank may cut rates in the future, according to a poll of 15 economists and treasurers.
Analysts expect modest recovery in Indian economy.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
The central bank may need to further ease the rates by 50-75 bps.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
RBI likely to cut rate early next year.
Government has forecast annual economic growth to rise to 7.4%.
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
The central government's deposits with the RBI had fallen to just Rs 100 crore as of June 8.
Credit rating agency Crisil observed in its report that some 'high frequency indicators go out of whack' as credit growth and service tax collections are not in tune with the CSO's growth projections.
'An eerie similarity with 2019 inflation trajectory could now mean that the RBI and market inflation estimates could go awry.'
RBI's status quo on rates disappoints economists.
Most say a rate cut could come in RBI's June policy.
The rupee had hit an intra-day low of 61.6750 on Friday, its lowest level since Oct. 17.
Given the relevance of bank deposits for Indian savers, whether the regulator would permit linking savings interest rate to a repo-like structure needs to be seen, as a move of this nature could increase volatility in savings also.
India's industrial output unexpectedly contracted 4.2 percent year-on-year in October, dragged down by a fall in the manufacturing and the capital goods sector, government data showed on Friday.
The Reserve Bank of India held its policy rate at 7.25 percent on Tuesday.
Experts hail Budget 2015 as a progressive, growth oriented one.
RBI has, since January, cut its policy rate four times.
It can be noted that the rupee lost nearly 7 per cent since the beginning of May as FIIs have pulled out nearly $4 billion from the domestic debt, as bond yields fell on expectation of RBI cutting rates on Monday.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
Financials emerged as the top gainers while auto shares rallied on robust September sales
The dollar gained strength with the emergence of the US as the only developed economy showing signs of recovery.
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