Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
Traders are waiting for the earnings season to kick off.
For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
Auto and realty shares were among the top Sensex gainers.
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
Food and fuel are two perennial areas of concern.
'The Chinese devalued the yuan initially but then stopped'.
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
Modi will have a number of high-profile multilateral and bilateral meetings with global leaders including United States Vice President Mike Pence and Singapore premier Lee Hsein Loong.
Obama seeks reduction of nuclear arsenal in India and Pakistan while Pakistan seeks NSG membership
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
The prime minister said a stable global economic and financial system is imperative for growth as it promotes inclusive and sustainable growth.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
Vajpayee had always felt that India must act with conviction and panache. He decided that, irrespective of the attendant risks, he would undertake what many felt was a precarious course. A fascinating excerpt from N K Singh's Portraits Of Power: Half A Century Of Being At Ringside on Atalji's 96th birthday, December 25.
Sensex sinks into red at close on growth concerns.
A fresh round of selling in late noon trades saw the index tumble to a low of 19,695 -- down 543 points from the peak. The Sensex finally ended with a loss of 194 points at 19,784. The NSE Nifty ended at 5,869, down 37 points.
The prime minister will have a tight schedule in the Philippines as besides attending the 15th ASEAN-India summit and 12th East Asia summit on November 14, he will have a series of other engagements including bilateral meetings with several leaders.
India must formulate a new growth path to become a top Asian economy.
Swaraj and Tillerson discussed a wide range of bilateral issues, including the situation in the neighbourhood and the Indo-Asia Pacific region, officials said.
64% of 800 investors polled think it will start this week but weak US data suggest it might not be aggressive.
Silicon Valley can be replicated, but this will only be achieved so long as fresh talent is welcomed by both our countries - a move that will surely spark a billion ideas and discoveries.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
Aggressive rate hikes by the US Federal Reserve could result in a flight of capital from emerging markets like India, says B Gopkumar, chief executive officer, Reliance Securities.
'There is no shortage of any APIs (active pharmaceutical ingredients) in the country'
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
Sensex closed over 118 points down on Thursday.
Markets ended in green on rate cut hope.
The India-Japan 2+2 dialogue added strategic heft to the special relationship in the wake of growing Chinese assertiveness on regional affairs, points out Dr Rajaram Panda.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
What will be the impact on the Euro itself? Will it devalue and to what extent?
Says it is ready to show flexibility on all major issues
This will encourage exports and discourage non-essential imports such as precious metals
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
Bankers have read the Reserve Bank of India's (RBI) comments on foreign banks' market share in India as an indication that the promised review of policies on the presence of overseas banks in 2009 is unlikely to yield any greater leeway within which they can operate.
