The rapid deceleration in prices has ignited a debate in New Delhi whether Asia's third-largest economy is heading towards deflation.
This remark is in consonance with RBI Governor Raghuram Rajan's comment.
India builds up record FX after Fed hints rate hike in future.
There are 350,000 jewellers, of which 13,000 are BIS-certified.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Prices are likely to rise further as demand grows in coming months due to festivals
The RBI announced its monetary policy on Tuesday.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
Subramanian Swamy said if income tax is abolished, middle class will deposit money in banks which can be invested in manufacturing.
The HSBC Manufacturing Purchasing Managers' Index, compiled by Markit, fell to 52.4 in August from 53.0 in July but chalked up its tenth month above the 50 mark that divides growth from contraction.
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Steps announced by new RBI Governor Raghuram Rajan could attract $10 billion of forex inflows in the next three months and this could be a material near-term positive for the rupee, which has lost 20 per cent since January, the London-based banking and financial services company said.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
The broader markets were marginally higher with mid-caps and small-caps gaining 0.1-0.4 per cent on the BSE.
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Currently, the cash reserve ratio is pegged at a low of 4 per cent, while statutory liquidity ratio that includes securities such as government bonds, stands at 23 per cent, down from 25 per cent in 2010.
Unless Dr Urjit Patel starts clearing the balance sheets of banks, the investment cycle will not start. Unless the clog in the drain is cleared, further lending cannot happen. If further lending doesn't happen, the investment cycle also will not happen, writes M R Venkatesh.
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
'One of the nice things about being a central bank governor is that the markets hang on every word you say'.
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.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
RBI will take a cue from the Fed policy statement.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
The partially convertible rupee closed at 61.2350/2450 per dollar compared with 61.31/32 on Tuesday.
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
The headline HSBC India Purchasing Managers' Index -- a composite gauge designed to give a single-figure snapshot of manufacturing business conditions -- stood at 54.5 in December, up from 53.3 in the prior month.
Industrial production was seen growing 1.8 per cent from a year earlier in July, slower than June's 3.4 per cent increase, according to the median consensus in a poll of 31 economists.
In spite of Governor Raghuram Rajan's repeated concerns about inflation, many think there may still be a loosening of stance.
The Reserve Bank had kept policy rate unchanged in its review on April 7.
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Raghuram Rajan, who took over as RBI Governor on September 4, is scheduled to unveil on Friday mid-quarter monetary policy review, an event keenly awaited by industry and banks.
Bankers and economists agree rates will soften, though the quantum would depend on banks' asset-liability profile
RBI had previously cut repo rate by 0.25 per cent each in January and March.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Since end-May there has been volatility in the foreign exchange market.
The partially convertible rupee ended at 62.2825/2925 per dollar.
Central Statistics Office has come out with GVA to measure growth.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Green signal from Jaitley; CVC okays Hemant Contractor for head of PFRDA
In the RBI's monetary policy statement review, Governor Raghuram Rajan said banks could extend timelines for large stalled projects by bringing in new 'promoters', or owners.
Wholesale price-based inflation eased to a nine-month low of 4.68 per cent in February, while retail inflation slowed to a 25-month low of 8.1 per cent.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
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