The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
Wholesale prices based inflation rate rose by 0.26 per cent to stand at 4.28 per cent during the week ended March 11
The Reserve Bank's rate-setting panel began its three-day deliberations on Monday to decide the next monetary policy amid expectations that the central bank will maintain status quo on the benchmark interest rate in the backdrop of global scare due to the new coronavirus variant Omicron. Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) is scheduled to announce the policy resolution on Wednesday. If the RBI maintains status quo in policy rates on Wednesday, it would be the ninth consecutive time since the rate remains unchanged.
Announcing the bi-monthly monetary policy, Reserve Bank of India Governor Shaktikanta Das said the RBI's internal survey says manufacturing, services and infrastructure sector firms are optimistic of the business outlook.
He doesn't expect banks to raise interest rates, as they'd not reduced these after the policy rate cuts in May and March.
The Reserve Bank of India, which slashed the repurchase rate (repo) and savings bank rate by half a percentage point each on February 28, is certain to cut the bank rate in April.
These cash shortages increase banks' funding costs, making it harder for them to lower lending rates
Union Finance Minister P Chidambaram has asked public sector banks to go slow on disbursals of home and other consumption loans to help fight inflation.
Rau's felt the need to be where the action was.
The institute that once drew largely elite students also decided to expand its base and cater to a wider pool.
For India, Fitch Ratings has 'BBB-' rating.
The Andhra Pradesh government, in a bid to provide succour to the depositors of the Charminar Coperative Urban Bank in Hyderabad, has decided to seek clarifications on the guidelines issued by Reserve Bank of India for the revival of the bank.\n\n\n\n
The economy can grow by 8.0 per cent if the government improves the public administration and delivery systems, carry forward legal reforms and implement policies promptly
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
India on Saturday favoured greater mobility of skilled labour
Rajan said India's good economic fundamentals would allow it to overcome any 'sharp corrections' in global markets
Retail inflation was at a 25-month low of 8.1 per cent in February.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
Dhoot stated that Value Industries has not withdrawn the application and has only sought clarifications from RBI on certain issues.
The Reserve Bank of India on Friday raised the retail inflation target for the current financial year to 5.7 per cent on the back of rising global prices amidst the ongoing geo-political tensions, even as it expected the prices of cereals and pulses to soften on prospects of good winter crop harvest. "Global food prices along with metal prices have hardened significantly. "Economy is grappling with a sharp rise in inflation... Inflation is now projected at 5.7 per cent in 2022-23 with Q1 at 6.3 per cent; Q2 at 5 per cent; Q3 at 5.4 per cent and Q4 at 5.1 per cent," RBI Governor Shaktikanta Das said while unveiling the first monetary policy review for the current fiscal year.
The price hikes during Covid were more because of supply chain and logistics disruptions caused by the pandemic and the Ukraine war rather than firms increasing prices because of higher pricing power, a report by State Bank of India (SBI) said. "It is thus incorrect to infer that concentration power dictated pricing capacity of firms, thus resulting in unyielding core inflation," the report authored by Soumya Kanti Ghosh, group chief economic adviser, SBI, said. A recent research article by former Reserve Bank of India (RBI) deputy governor Viral Acharya had observed that persistence of core inflation in India is due to purchasing power of top-five corporate houses.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
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The year-end should not be a time for any spectacular changes in the banking system and must pass smoothly, Rajan told reporters after announcing the bi-monthly monetary policy, which left key policy rates unchanged.
RBI governor Raghuram Rajan said, banks may be soon allowed to increase stake above the current cap of 10 per cent in companies undergoing debt restructuring.
Monetary transmission has been an issue for the Indian banking sector.
Jammu and Kashmir Chief Minister Mufti Mohammad Sayeed met Reserve Bank of India Governor Bimal Jalan on Tuesday and discussed the issue of reviving nationalised banking operations in the state.\n\n\n\n
Australia's Reserve Bank Governor I J MacFarlane has said countries which can adapt to the emergence of the Asian tigers India and China, will thrive, while those which go into a defensive mode will stagnate.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
Reserve Bank of India governor Bimal Jalan said on Monday there was no urgency to review the central bank's stance on the bank rate as announced in its October credit policy statement.\n\n
Any currency design change must be approved by the RBI central board and the central government.
Rajan said the RBI is working on upgrading the capabilities of its inspectors to undertake bank system audits as well as to detect vulnerabilities in them
Erstwhile RBI governors, including Raghuram Rajan never had cordial relations with the government.
Rejecting its own Bank Rate as the benchmark for returns on small savings, budgeted at Rs 165,000 crore (Rs 1,650 billion) this year, an RBI panel has said the rate was administered and did not convey the right signals on the current interest rate.
Currently, there is no regulation or any ban on the use of cryptocurrencies in the country.
The move will avoid hoodwinking the system and reduce the blind spots, which will ultimately lead to protection of depositors' money.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
The economy is slated to grow by 6.9 per cent in this fiscal backed by a robust 9.0 per cent growth in farm output, credit rating agency ICRA said on Monday.
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