The unexpected interest rate hike by the RBI on Wednesday will have the banking system on average making a 10-15 bps gains on the yields, with private banks making larger gains as 57 per cent of their loans are linked to external benchmark rate and 40 per cent to the marginal cost of lending rates, as per a report. Stating that lenders and borrowers will face volatile times with the Reserve Bank raising the repo rate by 40 bps to 4.40 per cent and the cash reserve ratio (CRR) by 50 bps on May 4 in an off-cycle policy move, India Ratings said the market rates had already been moving higher before the move. The 364-day T-bills have moved up 120 bps and 10-year G-sec by 140 bps since May 2020, when the repo rate was cut to a record 4 per cent, which led to an expectation of a faster and sharper rise in interest rates in the system but the central bank stayed the course to support the fragile economy battered by the pandemic.
The BJP MP condemned Azam Khan's disgraceful and sexist remark against her and said she would request the Speaker of the House to dismiss him.
The Congress leadership has become stunted, it does not understand agriculture and the party is trying to mislead farmers for its own vested interests, said Union Agriculture Minister Narendra Singh Tomar.
After months of denying there was a liquidity problem, Governor Raghuram Rajan has reversed course.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
This after high drama in the House over what opposition charged was "intimidation" by the treasury benches to get the motion for sending the amendment to the RTI Act to the select committee rejected.
The money generated, expected to be more than a billion dollar per annum, would be used to fund a biometric entry and exit tracking system
Sarojini Naidu, Mother Teresa or Savitribai Phule?
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
"Features of the Bill are anti-people and anti-Constitution...it is a very dangerous act," the fiery TMC MP said.
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
'Investors should restrict themselves to a few category schemes with high quality portfolios apart from overnight and liquid funds.'
Shah said nobody can stop him from introducing a resolution on Kashmir in Parliament.
Bollywood starts partying early this week!
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
What makes Indian abstract art more valuable is its relative rarity. V S Gaitonde, S H Raza and J Swaminathan are the only major names in modern Indian art known for their abstracts.
While seven of the suspended MPs belonged to the TMC, six were from the DMK, three from the Telangana Rashtra Samithi, two from the Communist Party of India-Marxist and one from the Communist Party of India.
Only national service can save the nation, and not politics: Modi
'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
Joshi said the Congress is 'led by an infiltrator' and is targeting Modi who hails from a humble family and is a popular leader.
Various opposition parties like the Congress, the Trinamool Congress, the Dravida Munnetra Kazhagam, the Nationalist Congress Party, the Rashtriya Janata Dal, the Communist Party of India, and the Communist Party of India-Marxist raised vociferous protests in the upper house while opposing the resolution and the bill.
Parliament proceedings were washed out for the fourth consecutive day on Friday as the Opposition remained unrelenting on its demand for the resignation of Union Minister Sushma Swaraj and chief ministers of Rajasthan and Madhya Pradesh.
The passing of the GST bill and the failure of India to acquire NSG membership is set to rule the agenda in Parliament.
His successful piloting of the move to strip Jammu and Kashmir of its special status is undoubtedly the highlight of his ministerial stint since the Modi 2.0 government assumed office on May 30.
A Reuters poll showed only one out of 51 economists had expected a 50 basis points rate cut.
The ruckus began during the procedure for the introduction of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020.
With SAD member and union minister Harsimrat Kaur Badal.
Foreign residents increased their holdings of long-term US securities in May; net purchases were $34.6 billion.
Neither India nor China will be badly affected by Grexit.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
Naidu said have shown no remorse and have instead justified their actions.
The speaker said members should be careful in uttering words and maintain decorum so that no such incident takes place in the future.
The structure of the rallies that unfold will determine if they make new highs or not, and there is scope for new highs, says Sonali Ranade
As per the rules and regulations, members must not do anything that brings disrepute to the Parliament and affects their credibility, and members must utilise their position as Members of Parliament to advance general well-being of the people.
Investors should consider debt mutual funds, banks fixed deposits or high-rated corporate debt instruments.
Union Finance Minister Pranab Mukherjee arrived in Washington, DC on Monday to participate in the India-US economic partnership dialogue, during which he is expected to meet US Secretary of State Hillary Clinton.
The culture of freebies burdens coming generations with the huge bill for the flagrant abuse of power by preceding governments, points out Virendra Kapoor.
His career as a bureaucrat has been somewhat colourless, which suggests his current elevation is simply a matter of being at the right place at the right time.
