The Reserve Bank on Friday eased money supply further by cutting key policy rates and ratios - decisions that would among other things infuse Rs 20,000 crore (Rs 200 billion) into the banking system.
After cautioning over an asset bubble in the real estate sector, the Reserve Bank of India has cracked the whip. The apex bank has sought clarification from six real estate companies on their proposal to raise external commercial borrowings.
Global rating agency Standard and Poor's Asia Pacific chief economist Subir Gokarn has been appointed as RBI deputy governor in place of Rakesh Mohan who quit months ahead of his retirement.
'Corporates who donated to political parties were guaranteed by the electoral bond scheme that their names and to who they were donating funds will be not disclosed.'
Earlier, the apex bank had projected inflation at 5.5 per cent by March 2011 and the latest higher estimate is on account of high food, fuel prices high and persistent demand pressures building up in the economy.
Low cost airline SpiceJet and Swiss firm Credit Suisse AG on Thursday told the Supreme Court they have resolved their financial dispute. The apex court then permitted SpiceJet to withdraw its appeal against a Madras high court verdict ordering that the airline be wound up on account of alleged non-payment of dues to Credit Suisse AG. "There is a settlement which has taken place on May 23, 2022 as per the consent terms.
Foreign lender Royal Bank of Scotland on Thursday said RBI is likely to hike its policy rates by up to one percentage point this year even as the headline inflation is likely to fall to 6-7 per cent on the back of a good monsoon.
Subrata Roy's parole, granted on humanitarian grounds following his mother's death.
The Reserve Bank has entered into an agreement buy up to $10 billion (over Rs 45,000 crore) worth notes from the IMF to help the multilateral agency shore up its resources for assisting countries hit by the global financial meltdown.
Though the Reserve Bank would want to keep excess liquidity under check to contain inflation, it may still go for a CRR cut to enable banks lower interest rates in order to spur growth through increased credit offtake.
Projecting that inflation would touch 8.56 per cent by current fiscal-end, the RBI had sucked out about Rs 36,000 crore (Rs 360 billion) from the banking system to check the rising prices. Over one-year high inflation was led by costlier sugar and potato prices.
Continuing their rising trend, the country's foreign exchange reserves increased by $1.350 billion to touch a record high of $361.601 billion in the week to April 22.
India Inc, while welcoming the Reserve Bank of India's move to cut the key interest rate, expressed doubts on lenders' response to pass on the benefits to customers.
An expert committee, set up by the Supreme Court to probe allegations against the Adani group following a bombshell report from a US short seller, has members with potential conflict of interest, a fresh petition filed in the apex court on Monday said.
The post of deputy governor (for economist) in RBI has been lying vacant since mid-June after Rakesh Mohan quit months ahead of his retirement.
Finance minister Pranab Mukherjee said on Tuesday the Reserve Bank of India's move to keep almost all rates unchanged is line with the discussions he had with the apex bank's governor and the government's thinking on fiscal and monetary policies.
Ahead of the monetary policy review on October 27 by the Reserve Bank of India, he plans to hold consultations with the apex bank and would not like to comment on issues like where interest rates are headed.
"You (banks) can go get clarification from the apex court. If SC says there is no stay, then we will hear this matter. But till then it would not be proper for us to hear the petitions or grant any relief as the apex court is already seized of the issue," Justice Oka said.
Prime Minister Narendra Modi has honoured Hindu, Buddhist, Sikh and Jain refugees by giving them citizenship through Citizenship (Amendment) Act (CAA), Union home minister Amit Shah said on Tuesday and maintained there is no provision of stripping of anyone's citizenship in the new law.
A bench of Justices B R Gavai and Vikram Nath said the matter requires to be heard.
Chidambaram would be meeting the bankers for the first time after the quarterly review of monetary policy by Reserve Bank on July 29. The apex bank raised the key policy rate to 9 per cent following which most of the PSU banks including the largest lender SBI hiked their lending rates by 50-100 basis points.
The apex bank hiked its repo, reverse repo (overnight lending and borrowing rates) to 5.25 per cent and 3.75 per cent, respectively, while the cash reserve ratio, or the portion of deposits banks park with RBI, to 6 per cent in line with analysts' expectations.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
RBI chief banks on 'significant measures' to battle a 'significant crisis'.
The Supreme Court on Wednesday agreed to hear on February 17 a fresh plea of a Congress leader seeking investigation under the supervision of a sitting apex court judge against the Adani group of companies in light of the allegations made by the US-based Hindenburg Research.
With the economy heading for a double-digit inflation due to the spiralling food prices and costlier fuels and manufactured articles, the Reserve Bank is expected to hike its key policy rates next month, say leading economists.
The Reserve Bank of India on Thrusday ruled out any concessional finance to developers and units in these zones, saying they should be treated on par with real estate projects.\n
The government on Thursday said it will borrow an additional Rs 1,40,000 crore (Rs 1400 billion) during the first half of next fiscal to fund its increasing public expenditure.
"Heard. Judgement reserved. Learned counsels of the Union of India and Reserve Bank of India are directed to produce the relevant records," the bench, also comprising Justices B R Gavai, A S Bopanna, V Ramasubramanian, and B V Nagarathna, said.
The Reserve Bank of India Governor D Subbarao has exhorted the apex bank's staff in his New Year message to convert present crisis into an opportunity, while maintaining that the crisis will be deeper and prolonged.
The electoral bonds scheme for funding political parties should not become a tool for "legitimisation of quid pro quo" between power centres and people who are benefactors of that power, the Supreme Court said on Thursday as it underscored the need for reducing the cash component in the electoral process.
In a move that may put pressure on housing and other consumer loans, Reserve Bank of India on Tuesday hiked its short term lending and borrowing rates by 0.25 per cent.
In a move that may put pressure on housing and other consumer loans, Reserve Bank of India on Tuesday hiked its short term lending and borrowing rates by 0.25 per cent.
The gold reserves remained unchanged at $18.151 billion.
Earlier, the apex bank had projected inflation at 5.5 per cent by March 2011, and the latest higher estimate is on account of the impact of fuel price hike,which it said, is likely to add a full 1 percentage point directly to the headline inflation numbers with the second round impact coming in the next few months.
Non-payment of dues under derivatives contract would qualify as wilful default.
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
