he reason behind the cut in policy rate seems to be a slowing economy
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
SBI asked RBI to allow lenders sell loans below the base rates.
Instructions were issued on holding loan camps in the last week of September.
Sluggish rise in new business inflows and a cautious approach to costs reportedly led Indian manufacturers to shed jobs in September.
Duterte had consistently led the Time 100 Reader Poll, an online survey in which the publication had asked its readers to vote for who should be included in this year's Time 100 list of the world's most influential people.
Lenders fret over stubbornly weak credit growth and still high funding costs.
November 8 marks 6 years after demonetisation. A K Bhattacharya reveals how the prime minister and the RBI worked together for months before Modi's 8 pm speech. A riveting excerpt from The Rise Of Goliath: Twelve Disruptions That Changed India.
The very best of Indian cuisine was served to the Obamas at the presidential banquet
India Inc on Wednesday said the Reserve Bank's move to cut interest rate by 0.50 per cent is "pro-growth" and exhorted banks to transmit the lower interest rate to borrowers to revive demand and kick-start the investment cycle.
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The repo rate continues to be at 8 per cent while the cash reserve ratio has also been retained at 4 per cent despite inflation based on the Wholesale Price Index coming down to a 5-year low of 1.77 per cent in October.
Costlier onion and other vegetables pushed up inflation for the third month in a row to 6.1 per cent in August, making it difficult for the RBI to cut rate in the monetary policy review due later this week.
The mood at the Indian Institute of Management, Ahmedabad (IIM-A) is festive, with one of its alumnii, Raghuram Rajan taking over as the next Reserve Bank of India (RBI) governor.
RBI Governor Raghuram Rajan is expected to express that cautiousness as he looks to manage expectations.
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
P Chidambaram said that the fiscal deficit target for 2013-14 will be met and the current account deficit will be contained below $40 billion.
Rajan said it was important that the government and the RBI be vigilant to the growth scenario.
The July-September quarter GDP numbers are due on November 30.
The argument for a weaker rupee is substantial.
The BSE Sensex was among the world's best performers in 2014, rising almost 30 per cent after Prime Minister Narendra Modi took office on promises of reforms to boost growth
Soon after RBI announcing a much- awaited rate cut, Chief Economic Advisor Arvind Subramanian on Wednesday said that the global rating agencies should look at upgrading their stance on India's credit outlook. "Now we have a 50 basis points rate cut (in two tranches within two months) and I think that is good for the economy and all rate cuts benefits... If the outlook is looking good, the rating agencies should draw their lessons from that om improving the outlook," Subramanian told reporters. After presentation of Union Budget 2015-16 last week, global and domestic agencies had ruled out any immediate upgrade in India's sovereign ratings and had red-flagged the country's delayed fiscal consolidation roadmap and had also warned against any slippages from the "ambitious" disinvestment plan proposed in Budget. Subramanian said that the rate cut is consistent with the government's views in the last week's Economic Survey and thereafter in the Union Budget for the outlook on inflation and for the outlook on overall economy. "It (rate cut) shows that RBI and government are on the same page in terms of how we view the economy. It also means that Budget can be seen as conducive to non-inflationary growth," he added. On monetary policy framework agreement, Subramanian said that both Finance Ministry and RBI have shared concern about inflation. Recently, the Finance Ministry and the Reserve Bank agreed to 'inflation rate targeting' under which the apex bank will aim to lower retail inflation to below 6 per cent by January 2016.
Finance Minister Arun Jaitley said RBI and the government are in continuous dialogue and that relationship will continue.
'From where prime ministers sit, it makes no difference at all who occupies the governor's post.' 'Literally anyone with a decent education or work experience can be appointed to the job, which is basically a managerial one with little room for manoeuvre,' says T C A Srinivasa-Raghavan.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
The move will likely attract more retail investors.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
All policy planners want low interest rate, says Jaitley
RBI wants periodic revision of the pensions for its retired employees.
The total market valuation of all BSE-listed firms on Thursday regained the Rs 100-trillion mark as the benchmark Sensex climbed over 600 points after the RBI surprisingly cut interest rate by 25 basis points.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
This time the all-powerful interest-rate setting panel, whose constitution was notified by the government on Thursday, will take call on interest rate. But that's not the only change. The Reserve Bank of India has also decided to change the timing of announcement of its policy review, due next Tuesday, to mid-afternoon.
FM is seen to step up the pace of sales of state assets and curb spending
RBI has cut the rates thrice so far in 2015 by 25 bps each.
'As long as the government owns the banks, bankers will follow signals from politicians as to how to lend.' 'State-owned banks will remain State-owned banks as long as the current dispensation is in power -- and certainly there will be no change if the other chaps get in,' says Mihir S Sharma.
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Industry's demand for a reduction in the repo rate, currently 8 per cent, has gained momentum after wholesale and retail inflation eased in February.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
Service providers' confidence with regard to the 12-month outlook for business activity remained positive.
Since January this year, RBI has cut the repo rate - at which it lends to commercial banks -- to a gross of 1.25 per cent.
Central banking is a science, not an art, Tamal Bandyopadhyay tells RBI Governor Shaktikanta Das.
Twelve of the 21 economists polled doubted whether the government could roll out the tax before the next fiscal year begins in April.
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