Insider trading -- a punishable offence in the United States -- which increases stock market volatility, is relatively high in India, China, Russia, Venezuela and Mexico, according to a study done for the International Monetary Fund.
India's economic reforms are the subject of a three-day conference at the Stanford University in USA from June six, with several Indian experts being among the participants.
India on Monday said that it will follow up its suggestion on having a price band for crude oil once the producing nations reflect on the idea, even as it asked them to step up oil output.
The economic cost of tsunami and the subsequent reconstruction and disaster relief appear manageable for India, the International Monetary Fund staff report has said.
The International Monetary Fund has asked India to speed up reforms, including removal of trade barriers, liberalisation of FDI regime and easing of labour laws, to attain over 6-6.5 per cent GDP growth.
Lauding India for its "comfortable" foreign exchange reserves, the International Monetary Fund said the country was not in need of any assistance from it.
For the week under review, Special Drawing Rights fell by $ 13 million to $4.19 billion, while India's reserve position with the International Monetary Fund was down $3.5 million to $1.14 billion.
Global software and services major Tata Consultancy Services is in the last stages of finalising a multi-million outsourcing contract with the International Monetary Fund. Under the deal, the IMF will offshore some of its back-office work
India's foreign exchange reserves grew by $291 million during the week ending January 28, 2005 to touch $1,29,720 million.
According to IMF, the body is planning to raise $6bn by selling 12.97 mn ounces of gold, about 12% of the total holdings it has. IMF officials said the sale would likely take place over several years in an effort to avoid market disruption. The news of the IMF decision will most probably affect the bullion market. It is a fundamental step that will enable IMF to remain an independent, astute and dynamic international organisation. It will put IMF on solid financial footing.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
Though the IMF wanted him to continue, his university said it won't extend Rajan's leave.
Gold reserves were up by $712 million to $34.729 billion.
There are several companies that are trading at attractive long-term valuations and are likely to provide investors with adequate returns.
The International Monetary Fund says India will clock growth of 8.4 per cent in the coming year.
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
The International Monetary Fund (IMF) has lowered its real export growth forecast for India for 2008 to 13.2 per cent from its April forecast of 16.3 per cent.
With the US "quietly" supporting him, former Spanish Finance Minister Rodrigo Rato is likely to become the next managing director of the International Monetary Fund, according to media reports.
FCAs decreased by $3.56 billion to $325.03 billion.
India's reserve position with the International Monetary Fund was down $4.4 million to $1.67 billion.
Gold reserves were up by $1.525 billion in the reporting week to $37.625 billion.
"At 11 per cent of GDP, the fiscal deficit is too high. Growth can be fast if deficit is down and faster if reforms continue," says Nicholas Stern, ex-chief economist, World Bank.
IMF chief Horst Kohler, who is in Dubai to World Bank Group and IMF meetings, did not comment on the issue of BPCL and HPCL divestment.
The government on Monday approved the appointment of B P Mishra as the new executive director of International Monetary Fund.
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