The country's gross domestic product (GDP) is likely to grow more than 9.5 per cent in fiscal 2021-22, an SBI research report-Ecowrap said. The economy grew at 8.4 per cent in the second quarter of the current fiscal, according to data released by the National Statistical Office (NSO) on Tuesday. The growth in the April-June quarter of this fiscal stood at 20.1 per cent. In October's monetary policy review, the Reserve Bank of India had retained its projection for real GDP growth at 9.5 per cent in 2021-22, consisting of 7.9 per cent in Q2; 6.8 per cent in Q3; and 6.1 per cent in Q4 of 2021-22.
'We have a plan to plough back a 'This year in the first half we had profits of more than Rs 31,000 crore.' significant amount of profits this financial year.' 'We have seen this organic plough back of profit is one of best ways to support the equity of the bank.'
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Declining prices of food items like vegetables pulled down retail inflation to 5.59 per cent in July, bringing it back within the RBI's comfort zone after two months, official data showed on Thursday. The retail inflation based on the Consumer Price Index (CPI) had remained above 6 per cent during May and June. The government has mandated the RBI to maintain retail inflation at 4 per cent, with a margin of 2 per cent on either side. The CPI based inflation stood at 6.26 per cent in June 2021 and 6.73 per cent in July 2020.
Bank lending has seen a significant fall. RBI needs to bring liquidity into the system immediately.
IMAGES from the Champions League matches played on Tuesday.
Faced with a resource crunch, the Union defence ministry will undertake a review next month of major military projects such as plans for acquiring 126 combat aircraft and raising a Strike Corps in the northeastern sector.
'There is a huge risk of misinformation and disinformation, and targeted campaigns that could potentially happen against candidates or to push certain narratives.'
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
Subdued prices of food items like vegetables pulled down retail inflation for the third month in a row to 5.3 per cent in August, within the RBI's comfort zone. While the Consumer Price Index (CPI)-based retail inflation declined to 5.3 per cent in August from 6.69 per cent in the same month a year ago, food inflation dipped at a much faster pace to 3.11 per cent from 9.05 per cent in August 2020. The food inflation was also lower than 3.96 per cent in preceding month of July.
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Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to 10.2 per cent from 11.8 per cent previously, citing the country's escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic. Oxford Economics also said that notwithstanding the likelihood of further mobility restrictions, it expects India's targeted lockdown approach, less stringent restrictions, and resilient consumer and business behaviour to mitigate the economic impact of the second wave.
The global economy weakened in the second quarter of 2011, as growth moderated in both advanced and emerging market economies under the impact of high oil and other commodity prices.
Nikhat Zareen and Lovlina Borgohain lived up to expectations as they secured medals for India with quarter-final wins, alongside two other home boxers at the Women's Boxing World Championships.
Trade deficit increased to $17.933 billion during the quarter ended September 2006, according to data released the Reserve Bank of India on Friday.
Inter Milan scored two early goals to secure an impressive 2-0 win over AC Milan in the Champions League semi-final first leg
Elaborating on its not-so-pleasing outlook on the economy, Crisil said private consumption demand, which has been the bulwark of growth for the last few decades, grew by a pale 3.1 per cent in the first quarter as against 7.2 per cent growth in the preceding quarter.
It would be advisable to look to companies that reported attractive growth during the first quarter, says Mudar Patherya
FMCG major Hindustan Unilever Ltd on Monday reported a net profit of Rs 408.06 crore (Rs 4.08 billion) for the quarter ended September 30, while the same was Rs 520.74 crore (Rs 5.21 billion) in the corresponding period last fiscal. The company's total income stood at Rs 3470.49 crore (Rs 34.70 billion) for the quarter under review, while it was at Rs 3162.82 crore (Rs 31.63 billion) in the same quarter previous year.
During the six-month period (April-September 2019), the Indian economy grew 4.8 per cent as against 7.5 per cent in the same period a year ago.
Analysts on average had expected a net profit of Rs 26.93 billion for ICICI Bank, which is also listed in New York.
Rajan said it was important that the government and the RBI be vigilant to the growth scenario.
Total income of the group increased to Rs 41,249.08 crore.
Also on agenda is rising credit flow to MSMEs & farm sector.
The government is looking at a time frame within the first two weeks of July to kick off and complete the upcoming 5G auctions, according to discussions between officials and stakeholders. It is expected that the Telecom Regulatory Authority of India (TRAI) will give its recommendations on the base price by March, after which the necessary cabinet clearances will be given. The Department of Telecommunications (DoT) had earlier looked at undertaking the auction in the first quarter of 2022 but decided to push it back. Communications Minister Ashwini Vaishnaw had also said that the auctions are likely to take place in April-May.
With retail inflation witnessing significant uptick in May, the Reserve Bank of India (RBI) is likely to maintain status quo in its August monetary policy review, according to a report. According to the SBI's research report- Ecowrap, inflation may remain elevated in the coming months due to several global and domestic factors. "We expect a status-quo in August. We believe RBI would still try to find a marriage of convenience of regulatory and developmental measures and monetary policy in August policy," the research report said on Wednesday.
Leading conglomerate ITC Ltd on Friday posted a 8.72 per cent rise in its standalone net profit to Rs 2,425.16 crore (Rs 24.25 billion) for the second quarter ended September 30, 2014.
England dumped Nigeria out of the Women's World Cup in a last-16 penalty shootout
The company's total income in the quarter under review grew to Rs 4,735.83 crore (Rs 47.36 billion) from Rs 3,540.89 crore (Rs 35.40 billion) in the year- ago quarter, up 33.74 per cent year-on-year, MSIL said in a statement.
Chidambaram was apparently upset over RBI's decision to leave interest rates unchanged on inflation concerns despite the government unveiling a five-year fiscal consolidation road map ahead of the policy.
Analysts and economists say that it is too early to expect anything dramatic on the interest rate regime despite the recent reform measures.
According to the Reserve Bank of India's second quarter Macroeconomic and Monetary Developments review, key deficit indicators widened during the April-August period of 2011-12, compared to the corresponding period of the previous year.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
RBI's deregulation drive on saving interest rates has created a competitive environment.
In the rematch of last year's quarter-finals, Nitu and Balkibekova went all guns blazing in the first round. However, the Kazakh was dominant and took the round 2-3.
The RBI is working to nudge large foreign banks with 30 or more branches in India to get incorporated locally.
Erling Haaland set another scoring record as Manchester City beat Bayern Munich
Markets ended flat amid a volatile trading session on Monday weighed down by banks and capital goods shares as investors turned cautious ahead of RBI's second quarter monetray policy review on Tuesday.
Retail inflation inched up to 4.48 per cent in October due to an uptick in food prices, government data showed on Friday. The Consumer Price Index (CPI) based inflation was at 4.35 per cent in September and 7.61 per cent in October 2020.
Hockey: India v Australia, QF
