The Reserve Bank of India (RBI) was a net seller of the US dollar in August, reversing its net buying position from July. During the current financial year up to August, the central bank had sold a net $1.11 billion. The RBI sold a net total of $6.49 billion worth of the foreign currency in August, according to the central bank's monthly bulletin.
The Reserve Bank of India (RBI) is expected to cut interest rates for the first time in nearly five years in Governor Sanjay Malhotra's first monetary policy committee (MPC) meeting on Wednesday. The meeting of the six-member MPC, which will culminate on Friday, aims to boost sluggish economic growth, which is seen falling to a four-year low. Malhotra took charge as the 26th RBI governor in December last year.
'I saw Bimal Roy's Devdas again a few years ago, almost 50 years after it had been made.' 'I found it very intelligently made; the scenes flowed so beautifully.' 'There is just one scene with both Suchitra Sen and me in the film, and it's beautiful.'
Call centres, once the engine room of India's BPO exports, are evolving too. Depending on the complexity, 30 to 50 per cent of voice and chat volumes are now handled by conversational AI.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
Despite gross domestic product (GDP) growth being lower-than-expected for the July-September quarter, the six-member Monetary Policy Committee (MPC) may not cut the policy repo rate in the review meeting scheduled for next week due to high inflation in October, according to experts. "Consumer Price Index (CPI) inflation breaching the upper limit of the RBI's tolerance band in October (6.2 per cent year-on-year) is not a favourable backdrop for the MPC to commence the easing cycle, even as the growth outcome disappointed the MPC's expectations," said Shreya Sodhani, regional economist at Barclays, who expects the policy repo rate to be kept unchanged in the December meeting.
Get your creative juices flowing and let your style speak volumes!
After depreciating 0.32 per cent against the dollar in October so far, the rupee is expected to hold ground against the greenback in the current quarter on the back of robust inflows. According to the median of a Business Standard poll of 10 respondents, the rupee is seen trading around 84 per dollar till the end of December. "In India's case, at least the bond and cash related inflows will continue.
Even as the high inflation figure for October has ruled out any possibility of a rate cut by the Reserve Bank of India's (RBI's) monetary policy committee (MPC) in December, a rate cut in February also looks uncertain due to global uncertainties. Economists told Business Standard that unless domestic growth slows markedly, the outlook on rate cut remains unclear. India's headline inflation touched a 14-month high of 6.2 per cent in October, breaching the MPC's upper tolerance band of 6 per cent.
Sindhu, Lakshya win openers; Sai Praneeth loses in US Open
Allu Arjun goes white... Sunny shares BTS pix... Konkona gets nostalgic...
India's men's singles campaign suffered a setback as none of the players could make it past the opening round on Day 2 of the India Open in New Delhi on Wednesday.
So many Bollywood divas walked down the blue carpet of The Times Of India Film Awards OTT Edition 2023, held over the weekend.
Don Bradman wore the "baggy green" cap during India's first tour of Australia as an independent country in 1947-48, scoring 715 runs in six innings at an average of 178.75.
Shyam Benegal passed into the ages on December 23, leaving behind a rich legacy. We look back at some interesting moments from his life.
How to celebrate National Handloom Day on a stylish note.
Kareena says hi... Tisca has fun in sarson ka khet... Preity wears a happy smile...
'...still have lost the 2014 Lok Sabha polls but could have won 140 seats.'
Many were hoping that with Vajpayee's NDA gone, there would be a return to the Congress normal. Nobody was prepared for the opposite. Sonia Gandhi was sceptical. This became the only issue over which Manmohan Singh took on his party bosses and risked his government. Politically, it was riskier than the 1991 reform, recalls Shekhar Gupta.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
It's celebration night for these stars!
'The Paris Olympics has once again blessed the Indian sports marketing landscape with fresh faces and promises.' 'Expect at least one biopic.'
Opinions vary, but fund managers remain bullish.
The Bollywood Hungama OTT India Fest and India Entertainment Awards saw many winners, and the stars celebrate their wins on social media.
After announcing 69 assorted Web series and movies, Amazon Prime Video rolled out the red carpet for the stars who will feature in them.
'If you are old enough to rape, you are old enough to be punished.'
So many film folk turned up at the opening night of the Jio MAMI Film Festival, held at the Nita Mukesh Ambani Cultural Centre (NMACC) in Mumbai.
Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words. In August, it was the introduction of an incremental cash reserve ratio (I-CRR) to take out excess liquidity, which took the markets by surprise. In October, there was no action. Rather, what is known as "open mouth operation", Das' comment that the central bank might conduct open market operations (OMOs) by selling bonds tempered the euphoria in the bond markets after JP Morgan's inclusion of India in its Emerging Market Bond Index.
The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.
Raising slogans against the Bharatiya Janata Party, Trinamool Congress (TMC) leaders ended their 24-hour protest at the Mandir Marg police station in New Delhi on Tuesday evening, a day after they were detained while staging a dharna outside the Election Commission's office.
A 10-member delegation of Trinamool Congress (TMC) had announced the dharna after meeting a full bench of the Election Commission (EC) to press their demand.
Raima, Varun have a pet day... Kreethy shares a pic... Plabita eats oranges...
Sayani's delicious Australian meal... Samantha lives it up in New York... Daisy's breakfast by the pool...
A look at the arrivals.
If Sebi had adjudicated Rajat Gupta's case, he would have got off with a mild fine or probably the charges would have been dropped, not in spite, but because of his impeccable track record.
A five-judge bench of the apex court chaired by Chief Justice D Y Chandrachud sat on a holiday to address the dispute where a defiant judge overruled an order of a division bench that had quashed his direction for a CBI probe and asked the central agency to go ahead with the investigation.
Increasing US shale gas production should stabilise oil prices, in contrast to the spike of the past.
According to the report, the December inflation will likely continue to peak off to 7.3 per cent.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances