Industry players said they were indeed seeing a serious fall in capacity usage, though some sectors were seeming to prevent further fall in the overall capacity utilisation.
In efforts to move towards a cashless society, the Reserve Bank on Wednesday said it will come out with a concept paper on promoting electronic payments, especially in smaller towns, by November-end.
India's economy is likely to grow in the range of 4.5 to 5 per cent during the second half of the current fiscal, a CII survey said.
To cut interest rates, the central bank head has to open up a debate on inflation target revision.
The Reserve Bank of India (RBI) has liberalised the procedure for facilitating the import of rough diamonds (termed roughs in the trade).
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
Echoing the position articulated by Prime Minister Manmohan Singh, China and Russia on Thursday warned that imminent withdrawal of fiscal stimulus by the US could have an adverse impact on the global economy and cautioned the Obama administration against it.
Budget was a mild disappointment. Yet, the bull run continues.
CPI-based inflation on a (year-on-year) basis has come down from 8.59 per cent in April 2014 to 7.80 per cent in August 2014.
UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.
RBI will cut rates in its next policy announcement on June 2.
Slow credit off-take to put pressure on margins
Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.
No discrimination on basis of gender, age, religion, caste and physical ability.
Raghuram Rajan speaks on the unscheduled rate cut.
Gita Gopinath, the IMF's Indian-American chief economist has been promoted as its First Deputy Managing Director recognising her exceptional intellectual leadership in helping the global economy and the Fund to navigate the "twists and turns" of the "worst economic crisis of our lives". Gopinath would replace Geoffrey Okamoto who plans to leave the International Monetary Fund early next year, Kristalina Georgieva, IMF's managing director announced on Thursday. Gopinath, who was scheduled to return to her academic position at Harvard University in January 2022, has decided to stay, she said. Gopinath, 49, has served as the first female chief economist of the Washington-based global lender for three years.
Home loans of up to Rs 75 lakh (Rs 7.5 million) would now be available to fresh borrowers at 10.10 per cent against the existing rate of 10.15 per cent, State Bank of India said in a statement.
Institutional investments in real estate may fall 20 per cent to $4 billion during this calendar year because of a higher inflow of funds in 2020, according to property consultant JLL India. During the January-September period, the institutional investment rose to $2,977 million from $1,534 million in the year-ago period. "Unless some large portfolio deals are not inked at the end of the year, annual investments are expected to be in the $3.8-4 billion range in 2021," JLL said in a statement. Institutional investments managed to cross the $5 billion mark in 2020 due to large portfolio deals worth $3.2 billion during the last quarter of the year.
the RBI will need to fulfil its April 4 pledge to avoid liquidity shortages.
In August, wholesale prices rose 3.74 per cent year-on-year.
The war of words between Finance Minister P Chidambaram and Arun Jaitley, leader of opposition in the Rajya Sabha, refuses to die.
High frequency indicators suggest that a growth recovery is underway, but very tentatively and with weak legs, says Saugata Bhattacharya.
Government hits back, tells rating agency to introspect on processes.
The government has hiked import duty on gold three times in a year and recently raised it by 2 per cent to 8 per cent to curb demand.
The minister said she has already taken up the matter with the Finance Ministry.
'India's economic fundamentals are much too strong to be affected by his resignation,' says B S Raghavan.
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
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Despite criticism, the investment bank said that it stands by its research.
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
Mr Swamy has written letters to the Prime Minister's Office asking for Mr Rajan's services to be terminated.
The global ratings agency, however, cautioned that high debt burden remains a constraint on the country's credit profile.
Foreign investors keeping off; inflows into bonds also likely to improve if RBI resumes rate cuts.
A statement issued by the Prime Minister's Office on Monday said that Mahinda Rajapaksa intends to propose a new Constitutional Amendment to the cabinet in order to fulfil the people's aspirations.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Former RBI Governor Subbarao blamed Chidambaram for undermining the autonomy of RBI and putting pressure on him to cut interest rates.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
Risk sentiment is likely to be favourable if oil prices stay benign, global growth sentiment remains robust and the dollar index does not break out, says B Prasanna.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
IMF's Chief Economist Gita Gopinath will leave her job in January next year and return to the prestigious Harvard University, according to the global financial institution.
On his maiden visit to Beijing, Pakistan Prime Minister Shehbaz Sharif held talks with Chinese President Xi Jinping during which the two leaders agreed to strengthen the all-weather friendship and the USD 60 billion China-Pakistan Economic Corridor (CPEC).
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