'We have promised to ensure reduced tax rates.'
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.
The change from wholesale to retail inflation as an anchor means that the weightage of diesel in inflation has decreased
Raghuram Rajan said the head of the central bank should have a fixed tenure of more than three years as the current term was too short.
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
There were more than three losers against every gainer on BSE
'If the government spends Rs 10 lakh crore this year then you would be looking at a GDP growth of minus 5 per cent.' 'If you do not do this, you will be looking at GDP growth between minus nine and minus 10 per cent.'
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
The rupee rose by 4 paise at 66.88 against the US dollar in early trade on Wednesday.
A rate cut will bring positive sentiment around the Budget.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
Finance Minister Arun Jaitley presented the Union Budget.
It also recommended that the RBI accounting year (July-June) may be brought in sync with the fiscal year (April to March) from the financial year 2020-21 as it could reduce the need for interim dividend being paid by the central bank.
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Reliance, Birla Group, Airtel eye small finance banks.
Brazil, Russia, India & China (known collectively as BRIC) on Sunday sought a re-balancing of representation on the executive board and the International Monetary and Financial Committee of the International Monetary Fund (IMF). The committee is the policy-making arm of the IMF.
Finance Commission has got new team who are committed to growth initiatives.
Net sales growth for the quarter ended December (Q3FY20) was 4.5 per cent on a year-on-year (YoY) basis for companies that have declared their results so far, compared to an 8.4 per cent rise in the first half of the financial year. This indicates that there could be a further rise in days' sales of inventory.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
RBI data show one-fifth of all the infrastructure loans are stressed and the share of such loans in overall stressed assets is nearly a third.
This Budget plans for an increase to 10.3% of GDP from 9.9%.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
Traders are waiting for the earnings season to kick off.
RBI Governor Raghuram Rajan has said falling oil prices act as a cushion for CAD, adding it is time India does away with restrictions on gold imports
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
Data on the real value of the currency against other currencies tells a different story.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
Nitin Desai suggests some concrete measures to revive investment and boost growth.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
For existing investors, it may be prudent to redeem their current investments in gilt or dynamic schemes and invest it in short-term funds, if the exit load is not very high, advises Malhar Majumder.
The view among the regulator and the government is that the currency is overvalued
Yet, no bank has been taken to task for its actions, says Harsh Roongta.
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
Mr Swamy has written letters to the Prime Minister's Office asking for Mr Rajan's services to be terminated.
SBI is the first major state-run bank to hike lending rates after short-term rates rose as a result of the Reserve Bank of India's liquidity tightening moves announced in July.
On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
Raghuram Rajan joked he wasn't expecting to win any votes or Facebook 'likes' in the position.
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