As a result, the forecast of eight per cent retail inflation by January next year looks achievable.
Bajaj Finance was the biggest loser in the Sensex pack, tanking up to 8 per cent, followed by Hero MotoCorp, IndusInd Bank, Maruti and HCL Tech. Axis Bank, ITC, NTPC and M&M were among the top gainers.
While rising food inflation is a matter of grave concern for a significant chunk of the population and for policy makers as well, it marks a turnaround in the fortunes of the farmer, reports Sanjeeb Mukherjee.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
Budget could well determine if Achche Din will materialise
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Budget should raise revenues & reduce spending to increase capital expenditure.
Data used for the graph and cited elsewhere in the column were obtained from various publications of the RBI.
'Investors should reduce cash gradually and look for value investing.'
We still have time for this government to take action.
Bank of America Merrill Lynch on Monday trimmed India's economic growth estimates by 30 basis points to 7.1 per cent for the current fiscal, while global financial services giant Morgan Stanley downgraded its GDP growth forecast for the current fiscal to 7.3 per cent from the earlier 7.7 per cent.
Fund managers weren't too worried in 2014, as it was a year of positive surprises.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
When banks deposit their money with RBI, the central bank offers government securities of equal value. But now, it could be running out of enough securities to offer banks against the overnight deposits.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
Pharma major Lupin and mortgage lender HDFC were the top losers.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
