The Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review on August 6 at the end of the three-day meeting -- August 4-6 -- of the Monetary Policy Committee (MPC). The RBI Governor-headed six-member MPC decides on the key policy rates.
In May 2019, the food inflation was 1.83 per cent as per the full CPI data released for that period.
Analysts have questioned the Aditya Ghosh-led company's negative net worth due to a huge dividend payout ahead of an IPO.
Stock markets will focus on global trends for further direction in this holiday-shortened week as the earnings season is largely over, analysts said. Trade experts expect the key benchmark indices to move sideways as investors are trying to decode the impact of rising inflation on foreign portfolio investments. Inflation data released by the US and China last week have fanned fears of earlier than expected rate hike and boosted US bond yields.
The biggest risk to India's growth outlook is an escalation of geopolitical tensions, especially if these tensions spread to the Asian region, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Wednesday. Varma, in an interview to PTI, said that inflation and inflationary expectations appear to be moderating and high inflation will certainly not become the 'norm' in the country. He is cautiously optimistic about the Indian economy as after the pandemic abated, consumption demand has begun to recover though the recovery is uneven across sectors and industries.
"We condemn this and resolve to continue and intensify our collective fight against the anti-people, anti-farmer, anti-Constitution policies of the Modi 'sarkar' that is destroying the social fabric of our society," they also said in the statement.
News of all that's transpired on and off the football field
The Reserve Bank of India, which mainly factors in retail inflation to decide its monetary policy, has been tasked by the government to ensure the rate of price rise remains around 4 per cent.
"They are attacking democracy. There is a non-stop attack on democracy and that is why we are fighting here," Gandhi said, accusing the government of not allowing debate on price rise, Lakhimpur Kheri and other issues.
The asset manager is yet to resolve the impasse surrounding the payment of pension to its erstwhile employees who had opted for voluntary retirement in 2003.
DDinesh Kumar Khara is someone who cares for others's ideas and suggestions.
If he takes the people along with him (which he always does); cares for the customers (80 per cent of SBI's new customers are in the 20-40 age group); and doesn't take his eyes off technology, his job is done, says Tamal Bandyopadhyay.
Flipkart also faced criticism earlier this year after it deferred the joining dates for campus recruits from the Indian Institutes of Management and Indian Institutes of Technology
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
IMAGES from the English Premier League matches played on Saturday
At over 6 per cent, most states in October had inflation rates above the Reserve Bank of India's target band of 2-6 per cent.
Florent Malouda has had problems with Raymond Domenech in the past but said on Tuesday that reports he had fallen out with the France coach again since the start of the World Cup were not true.
The Delhi Police and the Uttar Pradesh police have filed separate first information reports (FIRs) against filmmaker Leena Manimekalai over a controversial poster of her documentary Kaali even as the Indian government urged Canadian authorities to take down all the 'provocative material' in the film.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
One of the country's biggest corporate court battles, between Ambani brothers Mukesh and Anil, had a celebrity spectator -- King of Bollywood Shah Rukh Khan.
Costlier vegetables and eggs pushed up retail inflation to a nearly six-and-a-half year high of 7.61 per cent in October, keeping it significantly above the comfort zone of the Reserve Bank.
The Aam Aadmi Party claimed on Wednesday that the Bharatiya Janata Party has approached four of its legislators in Delhi, asking them to switch sides and join the saffron party or else, face 'false cases, the CBI (Central Bureau of Investigation) and the ED (Enforcement Directorate)'.
If Tamil Nadu BJP President K Annamalai bought it in 2015, did he get prior approval from the Union home ministry, and did he include it in his annual wealth returns, sections of the media want to know. N Sathiya Moorthy on the curious case of the 'Rafale' watch.
The Reserve Bank of India on Thursday kept the benchmark interest rate unchanged at 4 per cent and decided to continue with its accommodative stance against the backdrop of an elevated level of inflation.
The RBI has set up a panel to review ATM charges, and fees levied by banks.
India's industrial production contracted by 3.6 per cent in February, official data showed on Monday. According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), manufacturing sector output declined by 3.7 per cent in February 2021. Retail inflation rose to 5.52 per cent in March, mainly on account of higher food prices, government data showed on Monday. The consumer price index (CPI) based retail inflation stood at 5.03 per cent in February.
Civil Aviation Minister Jyotiraditya Scindia on Tuesday flew on SpiceJet's special flight between Delhi and Gwalior using Boeing's 737 Max plane that has been allowed to return to service after two and half years. All Max planes were grounded in India by the Directorate General of Civil Aviation (DGCA) on March 13, 2019, three days after the crash of an Ethiopian Airlines 737 Max plane near Addis Ababa, which had left 157 people, including four Indians, dead. Along with Scindia, SpiceJet CMD Ajay Singh and Boeing India president Salil Gupte were also present on the special flight on Tuesday.
The petition was mentioned on Tuesday by Income Tax counsel Beni Chatterjee and Vodafone lawyer Fereshte Sethna before a bench headed by Chief Justice Mohit Shah.
India's services sector activities eased to a three-month low in April, as the rise in business activity was constrained by the pandemic and sentiment towards growth prospects faded, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell to 54 in April from 54.6 in March, the slowest increase in output in three months. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'Depicting the genocide of 3 lakh #KashmiriHindus cannot be called vulgar.'
Let us contain this raging fire, this tsunami of hate, appeals Sonia Gandhi.
Monsanto has taken the government to court over the royalty.
The Tata Safari Gold Edition is available in a Manual trim for 21.89 lakh and Automatic for 23.17 Lakh ex-showroom.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
Congress vice president Rahul Gandhi on Thursday pilloried Prime Minister Narendra Modi over suspension of BJP MP Kirti Azad who has been leading a campaign against Finance Minister Arun Jaitley on alleged corruption in Delhi cricket body, reminding him of his "na khaoonga na khaney doonga" poll slogan.
In a strategic climb-down, key members of the Cellular Operators Association of India have come to a consensus that they are willing to go for open auction of spectrum for second-generation services beyond 10 MHz.
The months-long row between Tatas-owned Videsh Sanchar Nigam Ltd and Reliance-controlled FLAG Cables over the bandwidth issue was resolved on Wednesday.
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
