Rajan drew attention towards the Nachiket Mor committee on PSL and said that the RBI is trying to make the entire process more effective.
RBI Governor has been under pressure from Finance Ministry.
Mukesh Kumar, Executive Director, HDFC ERGO General Insurance Company Limited, talks about the many benefits of buying one
The government will release the Index of Industrial Production for July 2015 on Friday, September 11, 2015.
A market correction is a good time to reassess the quality of your portfolio and purge the poor quality names from it, says Ramesh Bukka
Most of the extra spending in the Budget is in fact an accounting entry that shifts the cost of an interest subsidy to the agriculture Budget that was previously borne by the finance ministry
The Survey shows fiscal consolidation despite slowdown in growth.
Between Friday's and Monday's close: Yields on 10-year bonds up 6 basis points, rupee slides 13 paise against dollar, Sensex ends flat
Reserve Bank of India (RBI) Governor Raghuram Rajan has set himself a target of lowering consumer inflation and is even ready to raise rates to achieve it, risking friction with the new government, if he is seen as overstepping.
'Not only have we rescued 1,700 fishermen but on the morning of November 30, we evacuated 1,044 fishing folk, otherwise the missing numbers would have been much higher.'
India's gold imports could pick up in the next few months after slumping 81 percent in June as falling prices spur buying, a government source said, adding to New Delhi's anxiety over a record-low rupee and a wide current account deficit.
A large number of successful IPOs ensured that the total investor wealth, measured in terms of cumulative valuation of all listed shares, rose by nearly Rs 6 lakh crore during the year to Rs 106.23 lakh crore
'Will the Statue of Unity and Tent City Narmada have as much of a transformational effect on the local economy as the salt desert/Tent City Dhordo did is something that only time can tell,' says Sanjeev Nayyar.
Conde Nast Traveller sorted through the wish lists of wildlife enthusiasts from around the world to collate this definitive guide. How many will you cross off?
In the near term, two key factors are the outcome of the monsoon season in respect to cropping yields; and the correction in the crude oil price.
Monsoon is expected to be normal in June.
RBI is expected to slash rates by 150 basis points till end-December 2016.
For an industry which saw sales shrinking in 2013-14, this is hope indeed.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Rediff.com contributor Anita Katyal explains why the Congress is ill-equipped to battle the Narendra Modi government in the forthcoming Budget session of Parliament.
Every dollar increase in crude oil price will add Rs 4,000 crore to the overall underrecovery.
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
The Economic Survey called for improving business environment.
In the second of a six-part series, Sanjay Jog of Business Standard walks across the streets of Indore to find out how it has been hit by demonetisation.
Rediff reader Rashmi Parab trekked to the twin forts of Lohgad and Visapur this monsoon. Here's an account of her trek in breathtaking photographs!
You won't regret planning your next trip to this hilly north-eastern state.
The global economy may just be entering a new phase.
Markets end in green with auto, banks on a steady climb.
The policy statement by the RBI governor is also expected to be upbeat.
Investors booked profits at higher levels with oil shares leading the decline
India's fiscal deficit trends are a bit like an alcoholic trying, unsuccessfully, to reform. Virtue does not last for too long, says Shankar Acharya.
RBI could opt for a 'deep cut' after winning inflation war, say experts.
Smart cities must be very well equipped with technology and security systems alike.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
'Lots of Indians are not eating healthy.' 'They eat lot of carbs, eat late, and use sugar unnecessarily.'
While Mussoorie is the nerve point with all the hustle bustle of the tourist activities, Landour lies quietly reminiscent of a 19th century British suburb.
The larger virtue of maintaining fiscal credibility should not be unduly diluted by quibbles on the fiscal math, says Sajjid Chinoy.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
'The corporate sector says by 2022 they will create 300 million jobs.' 'In the last 70 years we didn't do it, how will we do it in 5 years?' 'Only agriculture can bail out the economy. Unfortunately, it is not being looked into.'
If the economy gains momentum, that is a big positive for markets, given the strong macro of low inflation, falling rates, and a stable rupee, says Akash Prakash.
