RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
Currently trading at the 53-level against the US dollar, the rupee has depreciated as much as 25 per cent in the last one year, amid sluggish economic trends.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
Former RBI Governor Subbarao blamed Chidambaram for undermining the autonomy of RBI and putting pressure on him to cut interest rates.
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
The RBI will have to focus on constructive change to ensure growth.
Of the 20 deaths reported in the last 24 hours, eight were from Maharashtra, three each from Gujarat and Madhya Pradesh, two from Jammu and Kashmir and one each from Punjab, Uttar Pradesh, Karnataka and Tamil Nadu.
Slow credit off-take to put pressure on margins
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The broader consensus was that the Fed would cut the monthly stimulus of $85 billion by $10-15 billion.
The consumer durables segment declined by 23.4 per cent in June, as against a dip of 10.1 per cent a year ago.
The real estate industry today hailed the RBI's decision to cut key interest rate, saying the move will boost housing demand and also improve sentiments in the sluggish property market.
Chief Economic Advisor Arvind Subramanian's interview.
Rajan drew attention towards the Nachiket Mor committee on PSL and said that the RBI is trying to make the entire process more effective.
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
Bold reforms and prudent monetary and fiscal policies by the incoming Narendra Modi government will help the economy to grow at 6.5-7 percent, says a report.
Many things are going unnoticed by India watchers.
'Probability has increased for India to have improved fundamentals'.
Prime Minister Narendra Modi is being accused of wrong things. His main problem is his view of himself, says T C A Srinivasa-Raghavan
Gold is often considered a 'hedge' against an economic uncertainty.
Equity markets are currently difficult to gauge as the market has probably priced in a lot of things ahead of actual events.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
Rajan's deputy Khan cautions against early celebration of falling inflation, unhedged forex exposure.
Movements in gold prices will depend on the US' interest rates.
Brokerage Edelweiss Securities said if the NDA returns to power with a clear majority in line with exit polls, markets would rejoice the policy continuity.
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
Budget has laid emphasis on enhancing expenditure in farm & rural, and social sector including healthcare, education, skill development, job creation and infrastructure
'The economy may not improve unless you admit there are some problems.'
Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
To the question on what comes first, clean up or growth, Rajan said the answer is unambiguously 'Clean up!'
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
Determining the direction of the dollar in Trump's America will be more critical for asset allocation than getting your call on interest rates right, says Akash Prakash.
Raghuram Rajan explains the rationale for his policy stance and other issues.
The Modi government's array of economic policy has been impressive.
WPI inflation even breached psychological level of 0% in Nov.
The Committee of Administrators (COA) on Saturday said the finance committee, which is currently headed by Jyotiraditya Scindia, will cease to exist once the new constitution of the Board of Control for Cricket in India is adopted.
'Look at Mr Modi. He is a part of this new middle class.' 'India has never before seen this kind of social mobility, certainly not since medieval times.' 'As a result, India's entrenched elite, which is a class of people with a strong sense of entitlement, is being tamed,' Sanjeev Sanyal tells Shyamal Majumdar and Arup Roychoudhury.
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
