Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
RBI cuts GDP growth projection to 6.6 per cent for current financial year, from earlier forecast of 7.2 per cent.
The Reserve Bank of India on Wednesday decided to keep the policy rate unchanged for the tenth time in a row but changed its stance to 'neutral' that may lead to a cut in the forthcoming policies. RBI maintained status quo despite the US Federal Reserve lowering the benchmark rates by 50 basis points last month.
With the Maharashtra assembly polls underway on Wednesday, the young voters and first time electors in Nagpur appreciated the infrastructure development here, but raised concern over lack of job avenues and inflation.
With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is 'cautiously optimistic' for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation.
Among the 30-share Sensex blue-chip firms, NTPC, Hindustan Unilever, Tata Motors, Maruti, Larsen & Toubro, Reliance Industries, Asian Paints and State Bank of India were the biggest laggards. Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports and Tata Consultancy Services were among the gainers.
Retail inflation declined to 6.83 per cent in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the Reserve Bank's comfort zone. The overall inflation in the food basket stood at 9.94 per cent in August as against 11.51 per cent in July, according to data released by the National Statistical Office (NSO) on Tuesday. Retail inflation based on the Consumer Price Index (CPI) was at 7 per cent in August 2022.
India is among the three least-favoured Asian stock markets, according to BofA Securities whose survey found that 10 per cent of fund managers are underweight on Indian equities from a 12-month perspective.
'They are ideal for short-term financial goals like children's education or a down payment for a house.' 'They are also useful for transitional savings, such as during job switches or while starting a business.'
Have you ever wondered why some people seem to achieve extraordinary wealth while others struggle to make their money work for them? The secret isn't luck -- it's strategy, says Ramalingam Kalirajan
Congress leader Rahul Gandhi launched a scathing attack on Prime Minister Narendra Modi and former Delhi Chief Minister Arvind Kejriwal, accusing them of neglecting the welfare of backward sections, Dalits, tribals, and minorities. Gandhi promised a caste census in Delhi if the Congress forms the government, echoing his national call for removing the 50 percent cap on reservations. He also criticized Kejriwal's governance, drawing parallels with Modi's alleged reliance on propaganda and false promises. The Congress and AAP are part of the INDIA bloc, but are contesting the upcoming Delhi assembly polls separately. Gandhi's speech highlights the growing political tension ahead of the polls, where the Congress aims to regain its foothold in Delhi.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.
'We are not incentivising the old tax scheme. These taxpayers will also shift to the new regime after comparison.'
Union Minister Ashwini Vaishnaw had earlier called out the remarks made by Zuckerberg on the Joe Rogan podcast. "Mr. Zuckerberg's claim that most incumbent governments, including India in 2024 elections, lost post-COVID is factually incorrect," Vaishnaw had said in a post on X (formerly Twitter) on January 13.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
'I think today RBI supervision is much sharper than what it was earlier.'
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestl India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.
Imagine transforming a modest Rs 10,000 monthly investment into a steady Rs 1 lakh monthly income in your retirement years. This is the power of compounding -- a strategy that rewards you for starting early and staying consistent with your investments, says Ramalingam Kalirajan.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
US President Donald Trump on Thursday addressed the World Economic Forum where he offered business leaders low taxes if they manufacture their products in the US, while threatening them with tariffs if they don't. Addressing the forum's Annual Meeting in Davos through video conferencing, Trump also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down Russia-Ukraine war will end immediately.
Reserve Bank of India (RBI) Governor Shaktikanta Das has said the decision on interest rate moderation will be based on long-term inflation trajectory and not monthly data. The Monetary Policy Committee (MPC) headed by the RBI Governor is scheduled to meet between October 7 and 9 and take call on interest rate. The RBI kept the repo rate unchanged at 6.5 per cent for the ninth time in a row amid risks from higher food inflation.
The government in FY26 Budget should announce an "effective" personal income tax cut to support consumption and demand, Barclays said on Thursday. In its FY25-26 Union Budget preview, Barclays said the key ask from the Budget, to be presented on February 1, is to support growth while adhering to fiscal consolidation path.
From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
The BJP government in Gujarat has formed a five-member committee, headed by a retired Supreme Court judge, to assess the need for the Uniform Civil Code (UCC) in the state and to draft a bill for the same. The committee will submit its report within 45 days. The decision has sparked debate with the Opposition claiming it is an attempt to divert attention from pressing issues ahead of the upcoming local body polls, while the government insists the UCC will protect the rights of tribal communities. The committee will consult with religious leaders, including those from the Muslim community.
India has secured the second position, contributing 36 per cent of the total brand value, a significant achievement fuelled by a 14 per cent increase in brand value, according to Brand Finance 2025 ranking. India follows the US, which maintains its dominant position in IT services brand value, holding 40 per cent of the total brand value.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
The share of rent in consumption expenditure has risen to 6.58%, according to the Household Consumption Expenditure Survey 2023-2024. This is the highest it has been in surveys going back to the turn of the millennium.
Foreign investors have pulled out Rs 26,533 crore from the Indian equity market this month so far owing to increasing allocations to China, concerns over muted corporate earnings and elevated valuation of domestic stocks. While the sell-off continues, the quantum of net outflows has significantly reduced compared to October, when Foreign Portfolio Investors (FPI) withdrew Rs 94,017 crore ($11.2 billion) on a net basis.
'It was a disaster on his part to give an oral remark which allowed ascertainment of the religious character of places of worship.' 'This disrupted the social harmony of the country.'
Reserve Bank Governor Shaktikanta Das on Friday said that this stage would have been "premature" and "very very risky" as the retail inflation is still high, and future monetary policy action would depend upon the income data and outlook. Earlier this month, the RBI continued to maintain the status quo in the short-term lending interest rate (repo), citing inflationary concerns, though it changed the monetary policy stance to neutral.
With short-term rates firming up due to tight liquidity conditions, Indian corporates are opting to borrow long term to take advantage of the attractive rates by locking them in these uncertain times. The banking system has a liquidity deficit of over Rs 2 trillion. According to market participants, engineering conglomerate Larsen & Toubro (L&T) raised Rs 1,500 crore through 10-year bonds in December 2024.
S&P Global Ratings on Tuesday retained India's growth forecast at 6.8 per cent for the current fiscal and said it expects the RBI to start cutting interest rates in its October monetary policy review. In the economic outlook of Asia Pacific, S&P Global Ratings also retained its GDP growth forecast for the 2025-26 fiscal at 6.9 per cent and said solid growth in India will allow the Reserve Bank to focus on bringing inflation in line with its target.
Union Finance Minister Nirmala Sitharaman on Monday said people are finding current interest rates "very stressful" and urged banks to make them affordable. Speaking at an event organised by State Bank of India, the finance minister said that at present, India requires industry to ramp up and invest in new facilities, and added that lowering lending rates can help achieve the "Viksit Bharat" aspiration.
'Regardless of whether you invest Rs 100 or Rs 1 crore per month, risk is inevitable.' 'Positive returns at the end of the year can never be guaranteed.' 'This is a fundamental truth every SIP investor must grasp.'
Amid mounting inflationary pressures, escalating material costs, and rising operational expenses, luxury carmakers Mercedes-Benz India and BMW India have announced price increases of up to 3 per cent on their entire model ranges effective from January 1, 2025. Mercedes-Benz India will revise ex-showroom prices by Rs 2 lakh to Rs 9 lakh, depending on the model. This adjustment will impact vehicles such as the GLC SUV and the high-end Mercedes-Maybach S 680 limousine.
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