Former RBI governor Raghuram Rajan on Monday said the central bank will have to raise interest rates to tame inflation and the hikes need not be considered by politicians and bureaucrats as some "anti-national" activity. Known for his frank views, Rajan also said it was important to remember that the "war against inflation" is never over. "Inflation is up in India. At some point, the RBI will have to raise rates, like the rest of the world is doing," he said in a LinkedIn post.
At the heart of this debate is Section 3(d) of the Patents Act, a safeguard designed to prevent drugmakers from extending monopoly protection through trivial modifications to existing medicines.
The government on Wednesday cut interest rates on small savings schemes, including NSC and PPF, by up to 1.1 per cent for the first quarter of 2021-22 in line with falling fixed deposit rates of banks. Interest rate on Public Provident Fund (PPF) has been reduced by 0.7 per cent to 6.4 per cent while National Savings Certificate (NSC) will now earn 0.9 per cent less at 5.9 per cent. Interest rates for small savings schemes are notified on a quarterly basis. The rates of interest on various small savings schemes for the first quarter of the financial year 2021-22 starting from April 1 has been revised, the finance ministry said in a notification.
India and South Africa will face off in their opening Super Eight match of the T20 World Cup. The match will test India's batting line-up against South Africa's formidable bowling attack.
Among Sensex firms, Eternal, Sun Pharma, Infosys, HDFC Bank, HCL Tech, Hindustan Unilever, Power Grid, ITC and Adani Ports were the major gainers. However, Tata Motors, Trent, Bajaj Finance and Asian Paints were among the laggards.
The private demand is still not picking up and the funds under market stabilisation scheme are also maturing.
Some public sector banks, including State Bank of India (SBI), Union Bank of India, Canara Bank, and Bank of India, are increasing the spread on home loans for new customers to protect margins.
With the reduction, term deposits of 1-3 years will now fetch an interest rate of 5.5 per cent from the existing 6.9 per cent.
Ruling out upward pressure on interest rates in the near future because of high market borrowings, the government on Tuesday said it will not go for additional borrowings due to the impact of erratic monsoons as tax receipts are expected to be robust.
The National Housing Bank on Tuesday hiked the interest rates on its capital gains bonds by 0.25-0.35 per cent effective from December 1.
India are looking to create history, as they aim to become the first team to successfully defend the T20 World Cup, while England will be aiming to reclaim the title they last won four years ago.
Inflation and interest rates seem to be on top of everyone's mind at the moment.
'Investors can consider staying invested in long duration products as there is a possibility of rate cuts in the near term.' Positive macros - lower inflation, high forex reserves and favourable demand-supply dynamics for government bonds - make a strong case for rate cuts from December, says Devang Shah, head of fixed income, Axis Mutual Fund. In an interview with Abhishek Kumar in Mumbai, Shah says this view may not hold true if commodity prices go up sharply.
High oil prices are expected to push up inflation to 3.9 per cent in the next three months, hardening interest rates, economic think-tank IEG has said.
With improvement in the fiscal status of the Union government, interest rates will continue to remain low over the long term, according to Vijay Kelkar, advisor to Union finance minister.
A neutral monetary policy stance, heavy government borrowing, and issuers adjusting to a higher-for-longer yield environment have set the stage for a largely stable corporate bond market in 2026.
The last scene in Hamnet will be seared in movie memory, notes Deepa Gahlot.
Investors with stalled projects and mounting bad debt will refinance their loans.
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
The bank will give 3.25 per cent interest on savings bank deposits with a balance exceeding Rs 100,000. At present, the interest rate is 3.5 per cent.
Sweden has the world's highest negative rate.
Kiaan Shetty loves Kurukshetra so much that he recommends it to his friends too.
There has been demand to hike the PF interest rate to 8.90 per cent.
From a modest salary to Rs 1 crore, here's Ramalingam Kalirajan's smart compounding blueprint for young earners
While EPF rewards patience and compounds your money, inflation decides how far your money really goes.
The National Stock Exchange said it has postponed its proposed launch of trading in interest rate futures, earlier set for Friday.\n\n\n\n
Interest rates are expected to remain stable for now despite the Reserve Bank squeezing money supply through a hike in percentage of cash that banks must keep in reserve, ICICI Managing Director and CEO K V Kamath said. Kamath said at this point of time the market has not judged which way interest rates are going, but if yield on 10-year government bond is taken as an indicator, there is in fact a drop in interest rates. The RBI had last month announced a 0.75% hike in CRR.
A preview of the key player battles that could determine the outcome of the ICC T20 World Cup 2026 final between India and New Zealand, highlighting individual matchups and their potential impact on the game.
To be sure, Trump is furious, as the trajectory of the war is in a state of Zugzwang, as chess players call it. Trump and Netanyahu stare at two choices -- retreat in humiliation and concede Tehran's demands -- recognition of its rights, reparations, and binding security guarantees -- or perish in a quagmire, points out Ambassador M K Bhadrakumar.
State Bank of India and Canara Bank said on Thursday interest rates are expected to remain soft and stable in the near future as inflation is down and there is ample liquidity with the banks. "Interest rates are expected to remain stable to down," SBI Chairman O P Bhatt told reporters before participating in a meeting of bankers and exporters with Finance Minister P Chidambaram in New Delhi.
Banks have been reluctant to transmit the entire policy rate cut by RBI to borrowers.
Interest rates in the economy have peaked, but it is difficult to predict whether they would fall just as property prices have in some parts of the country, a senior official of housing lender HDFC said.
Finance Minister Nirmala Sitharaman's biggest challenge will be to find a new growth driver, particularly against the backdrop of a global economy ravaged by heightened uncertainty and fragmentation, financial markets on a precipice, and global commodity prices on a continued uptrend.
This decision would pave the way for crediting Rs 54,000 crore as 8.65 per cent interest for 2018-19, into the accounts of more than 6 crore EPFO subscribers.
'The entire US ecosystem built over decades at the bases in the Gulf region, especially the UAE, costing trillions of dollars have been decimated, dealing a mortal blow to the US Central Command's war capability,' points out Ambassador M K Bhadrakumar.
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review on August 6 at the end of the three-day meeting -- August 4-6 -- of the Monetary Policy Committee (MPC). The RBI Governor-headed six-member MPC decides on the key policy rates.
Following the footsteps of other banks, Lord Krishna Bank has hiked interest rates on domestic deposits by 25 to 50 basis points.
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