All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
RBI targets to keep inflation at 4 per cent, (+/- 2 per cent), and its rise beyond this comfort zone will put pressure on the central bank to hike rates.
The revision will do little to help the Congress party-led ruling alliance, which faces an uphill battle in elections due by May amid allegations of economic mismanagement, corruption scams and high inflation.
Officials said good rain in August - though it might not improve acreages much for most crops except urad, moong, and paddy - would help in improving yields in the crops already planted.
Inflation in 'fuel and power' basket rose sharply to 11.22 per cent in May from 7.85 per cent in April as prices of domestic fuel increased in line with rising global crude oil rates.
A monsoon deficit is likely to affect the agriculture output, which could have an impact on the food inflation
September import growth was the second lowest this fiscal year, after the April growth figures of 4.6 per cent, bringing the trade deficit down to $13.98 billion
The kerosene subsidy is expected to decline by 40 per cent from Rs 7,595 crore in 2016-17 to Rs 4,500 crore this financial year.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Despite the emergence of China and Philippines as competitors in the business process outsourcing space, India is well placed in terms of parameters like cost savings, competency, technical infrastructure, language, etc, according to ICRA.
According to data shared with the Lok Sabha, 19 road projects awarded after May 2014 were facing delays
Top tier Indian software companies should see strong topline growth in FY04 due to the country's emergence as an attractive destination for outsourcing, according to credit rating agency ICRA's report on information technology.
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
The move will primarily impact luxury car companies like Mercedes Benz, BMW, Audi and Volvo and bike brands like Triumph and Harley Davidson.
State-owned banks have amassed bad loans faster than private sector lenders.
India is currently under the 21-day lockdown since March 25, with only essential services exempted to contain the fast-spreading virus.
Three million tonnes of buffer stock, where the government bears the interest and insurance cost, was announced by the Centre only for a year and that period is ending in June.
In its morning update, the Union health ministry said the total number of positive cases has reached 2,16,919 with a record spike of 9,304 new cases since Wednesday 8 am across the country, while the death toll has increased to 6,075 with 260 more fatalities in this period. A PTI tally of figures announced by different states and union territories, as of 9.50 pm, showed a higher number of confirmed cases across the country at 2,17,389 and the death toll at 6,233.
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.
A Parliamentary committee has asked the Ministry of Small Scale Industries to work closely with Uttar Pradesh Finance Corporation for reviving mini cement plants in the state.
ICICI Bank plans to raise Rs 5,000 crore (Rs 50 billion) through long term bonds and has obtained highest safety rating "LAAA" from ICRA.
On one hand, Operation Greens should help to smoothen volatility in the prices of vegetables, whereas the proposal to enhance and extend minimum support prices to augment farmer incomes, may emerge as an inflation risk.
India is likely to capture 56 per cent share of offshore business process outsourcing business by 2006 with the demand for BPO services increasing at an annual growth rate of 50 per cent during 2004-06
Govt to chalk out entry of sovereign funds from Abu Dhabi, Qatar into such projects.
Scooters, once the fastest growing sub-segment, also declined for the second consecutive month in September.
State-run Oil and Natural Gas Corporation will see its pre-tax profit growing by over Rs 1,822 crore (Rs 18.22 billion) on a 12 per cent increase in natural gas prices as recommended by the group of ministers.
Echoing Finance Minister Jaswant Singh's projection of a "significant" economic growth this year, economists on Friday pegged the GDP growth at 6-6.5 per cent but cautioned the Centre on increasing debt and fiscal deficit.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
Industrial output had slowed to 5-month low of 2.1% in March.
