RBI's interest rate decision, macroeconomic data, global trends and trading activity of foreign investors are the crucial factors to drive equity markets in a holiday-shortened week ahead, analysts said. Markets would remain closed on Monday for Gandhi Jayanti. "While global cues will continue to dictate trends in local markets, focus will shift to RBI's monetary policy announcement on Friday. "Although the market is expecting a status quo on interest rates, global concerns like rising US dollar index and bond yields coupled with surging crude oil prices continue to weigh on investors' minds.
Gandhiji asked me if I had sufficient warm clothes in view of the coming cold season. I said yes. But he verified my statement by asking Miraben to search my bag to make sure. Such was Gandhiji.
The Reserve Bank's rate setting panel on Thursday met to finalise a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year, said sources. The report will be presented to the government as per the Reserve Bank of India Act, they added. The six-member Monetary Policy Committee (MPC) is headed by Governor Shaktikanta Das.
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
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.
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.
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
In an interaction with former Congress chief Rahul Gandhi on the impact of lockdown on India's economy, Rajiv Bajaj, MD, Bajaj Auto, said India tried to implement a hard lockdown which was still porous and ended up with the worst of both worlds.
Singh can be seen saying, in the video, "I want to say this, and this is the biggest misfortune of the Congress that Rahul Gandhi refuses to grow old. He is like a child who doesn't want to step out of his diaper."
"During the Congress regime, the news headlines were of India handing over another dossier to Pakistan about terror activities. Some of our friends in media used to clap after such any such dossier was sent," Modi said at an election rally in Maharashtra's Latur.
The bright yellow coloured notes will hit the market just a day after the announcement by Finance Minister Arun Jaitley that the government has given a go-ahead to the RBI to issue the new currency bill.
With the fiscal deficit target staring at the government, the FY25 Budget has limited expenditure options, points out A K Bhattacharya.
'Space out when raising funds; Sebi mulls securitisation platform'
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
As per the RBI Act, the central bank has to have four deputy governors.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
In the five years in politics Priyanka Gandhi has undeniably emerged as a thorn in the BJP flesh, notes Nilanjan Mukhopadhyay. It is time that this thorn is twisted a wee bit more when the elections have become far more uncertain than what it was when the Election Commission announced the poll schedule.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi will inaugurate country's first all-women Bharatiya Mahila Bank in Mumbai on November 19, the birth anniversary of former Prime Minister Indira Gandhi.
Dy Governor notes it's an era of job changes for better.
'Life has been full of rewards, full of sadness.'
Arun Jaitley had promised to provide more than the budgeted amount.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
'The global situation is not very good.'
The Congress party has tweeted a 1.44-minute clip from the conversation which will be aired in full at 9 am Tuesday.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
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.
Reserve bank is working with the govt to bring suitable amendments in the statutory provisions
'The finance ministry and public sector banks have tried to keep the names of wilful defaulters secret.' 'Secrecy and concealing information are inbred among banks and even the RBI,' observes Debashis Basu, editor, www.moneylife.in.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Reserve Bank of India's former governor Raghuram Rajan on Wednesday joined Rahul Gandhi during the Congress-led Bharat Jodo Yatra in Rajasthan.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The Bharatiya Janata Party and the Congress remain the most dominant political forces in Chhattisgarh, though the state has several regional outfits that have pockets of influence, while the Aam Aadmi Party (AAP) is making a determined bid to challenge its well entrenched rivals and make a mark in polls to the 90-member House.
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
These banknotes will bear the signature of RBI Governor D Subbarao and the year of printing 2012 will be on the reverse of the banknote.
Land attachment and auction is being undertaken by banks that are controlled by the RBI, Gehlot said, urging the Centre to waive farmers' loans.
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