The wholesale price-based inflation eased to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items, even though food articles turned expensive.
A special Central Bureau of Investigation court here on Wednesday extended till December 29 the CBI custody of former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon group founder Venugopal Dhoot in connection with a loan fraud case. The probe agency arrested Kochhars last Friday after questioning them briefly. Dhoot was arrested on Monday.
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
Now, non-banking finance companies can give a loan up to 75 per cent of the gold value; the previous limit was 60 per cent.
Finance Minister Arun Jaitley on Saturday said that retail inflation is expected to remain close to 5 per cent
DBS called Rajan's decision not to seek an extension as a 'negative surprise'.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. Inflation has been above the targeted zone for the ninth month in a row and as per statute, the RBI will now have to explain to the government in writing why it failed to keep prices below 6 per cent.
State industries minister Uday Samant and party leader Ramdas Kadam gave information about the resolutions passed in the meeting.
Tuesday's policy announcement had a regulatory and development component.
The Reserve Bank of India's directive on Wednesday came on its prior advice to banks in 2009 to make bank branches and ATMs accessible to people with disabilities and make at least one-third of the new ATMs installed as talking ATMs with Braille keypads.
Rajan's exit will neither affect the RBI's de facto independence nor its working.
From the Sensex pack, Bajaj Finance, Bajaj Finserv, Reliance Industries, Wipro, HDFC Bank, HDFC, ICICI Bank and Tata Steel were the major laggards. ITC was the lone winner in the Sensex pack.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
A senior official with Muthoot Finance said the group would also want to apply for a universal licence.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
The central bank had revised its inflation forecast significantly downward in the last policy
Subir Gokarn, Executive Director and Chief Economist at Standard & Poor's Asia Pacific, is heading the shortlist of candidates for the Reserve Bank of India Deputy Governor's post. Gokarn is also a Business Standard columnist.
As all regulators are part of it, individuals don't need to worry about approaching the right authority
Voting for the 2014 general elections will begin in April and it is expected Budget 2014-15 will be presented in June.
The Reserve Bank of India is in favour of a cautious and gradual approach to financial sector reforms rather than a big-bang approach, as advocated by the Percy Mistry Committee report on making Mumbai an international financial centre.
Deficits could come under more pressure in coming years as states implement their own Pay Commissions.
Domestic macroeconomic data, RBI policy and developments related to the Russia-Ukraine war would be major driving factors for the stock market this week, analysts said. Moreover, FPI investment and trends in crude oil would also influence the trading sentiment, they added. "This week, the RBI credit policy will be a critical factor for Indian markets.
The discussion paper is released at a time when the central bank is sifting through 26 applications seeking an entry into the fray.
RBI data on Dec 2014 showed 1.05 million PoS machines in the country.
The Reserve Bank of India (RBI) has offered some leeway to banks for early detection and resolution of bad loans. Under the new regime kicking off from April 1, lenders can finance 50 per cent of the outstanding loan value, RBI said in Framework for Revitalising Distressed Assets in the Economy, released on Thursday.
The parliamentary standing committee on finance has proposed a Securities and Exchange Board of India (Sebi) and Reserve Bank of India (RBI) co-ordination mechanism to monitor foreign investments in the stock market.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
RBI may revise remuneration for banks.
The Congress vice president took to twitter to lash out at Modi after the All India Congress Committee demanded rollback of the restriction under which an amount over Rs 5000 in scrapped currency can be deposited only once per account till December 30.
Search panel to shortlist candidates soon.
Raghuram Rajan said a six-member monetary policy committee will decide on interest rates.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The Reserve Bank on Monday asked banks to notify the base rate, or the minimum lending rate, at least once in every three months.
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