The Indian economy is recovering from the slowdown in momentum witnessed in the September quarter, driven by strong festival activity and a sustained upswing in rural demand, according to a Reserve Bank of India (RBI) bulletin released on Tuesday. An article on the 'State of the Economy' in the December bulletin noted that the global economy continues to exhibit resilience with steady growth and moderating inflation.
The Reserve Bank of India on Friday decided to keep the policy rate unchanged for the 11th time in a row but sharply lowered the GDP growth forecast to 6.6 per cent for the current fiscal, as against earlier projection of 7.2 per cent. The Reserve Bank of India (RBI) maintained the status quo on interest rate despite July-September quarter GDP growth falling to 7-quarter low of 5.4 per cent, as against its own projection of 7 per cent.
In a significant development, the Supreme Court on Thursday recalled its controversial May 2 verdict that had ordered liquidation of Bhushan Power & Steel Limited (BPSL) while setting aside a resolution plan of JSW Steel Limited for the ailing firm. A bench comprising Chief Justice B R Gavai and Justice Satish Chandra Sharma observed that the May 2 judgment, authored by Justice Bela M Trivedi, since retired, did not "correctly consider the legal position as has been laid down in the catena of judgments".
'Inflation is not good for industry. Nor for the economy as a whole.'
India's forex reserves jumped by $6.99 billion to $692.72 billion during the week ended May 23, the RBI said on Friday.
The move is to align affordable housing finance flows to the increase in property costs and inflation, says Raghu Mohan.
While liquidity in the banking system has turned surplus in the last few weeks, it could go back to deficit again, mainly due to corporate advance tax outflows. The net liquidity surplus of the banking system rose to touch Rs 1 trillion on Tuesday on the back of government spending, according to the data released by the Reserve Bank of India.
RBI's interest rate decision, macroeconomic data announcements and global trends are the key factors that would dictate the momentum in the equity market this week, analysts said.
Private sector ICICI Bank on Friday said its board has approved additional 2 per cent increase stake in its asset management arm ICICI Prudential Asset Management Company. The board of the bank on Friday approved purchase of up to 2 per cent additional shareholding in the ICICI Prudential Asset Management Company, ICICI Bank said in a regulatory filing.
As RBI governor, Sanjay Malhotra will have to give the highest priority to the interest of the economy while deciding on the growth-inflation trade off at Mint Street.
JM Financial on Friday said the Reserve Bank of India has lifted restrictions imposed on its subsidiary JM Financial Products Ltd with regard to financing against shares and debentures. "We wish to inform you that the RBI, vide its letter dated October 18, 2024, has lifted the restrictions imposed by it on the company (JM Financial Products Ltd) through its order dated March 5, 2024," JM Financial said in a regulatory filing.
Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank.
In the month of May, the victim got a call from a person identifying himself as telecom department staffer Amit Kumar, who told her a SIM card had been bought with her personal details for use in criminal activities.
Equity investors would track global market trends, inflation data and trading activity of foreign investors for further cues this week, analysts said. Moreover, progress of monsoon and developments related to trade talks would also be monitored by investors, experts noted.
The IPO wave of 2025 is here, and it's bigger than ever. From fintech unicorns to financial powerhouses and infrastructure giants, some of India's biggest names are all set to make their stock market debut. PhonePe, Zepto, Tata Capital, NSE, NSDL, and JSW Cement are just a few of the highly awaited listings that have investors and analysts buzzing with excitement.
The central government's fiscal deficit fell to 0.8 per cent of the full-year target at the end of May, mainly due to a whopping Rs 2.69 lakh crore dividend received from the Reserve Bank of India. The fiscal deficit, or gap between the government's expenditure and revenue, had touched 11.9 per cent of the Budget Estimates (BE) for 2025-26 or Rs 1.86 lakh crore in April.
Veteran banker and former chairman of HDFC Ltd Deepak Parekh has said that ICICI Bank had made an offer to take over mortgage lender HDFC Ltd but it was declined. HDFC Ltd, the parent entity of HDFC Bank, later merged with its banking subsidiary to create the country's biggest private sector lender.
The Reserve Bank of India on Monday issued an operational framework for reclassification of investment made by a foreign portfolio investor to foreign direct investment (FDI) if the entity breaches the prescribed limit. Markets regulator Sebi too has issued a circular on procedure for reclassification of FPI investment to FDI.
Despite similar tax treatment, debt MFs enjoy certain advantages over FDs.
Merchandise exports to the US jumped 23.5 per cent year-on-year (Y-o-Y) to $8.3 billion in June, even as India's overall outbound shipments witnessed contraction during the month, according to the data released by the commerce department on Tuesday. The increase in outbound shipments to the US was largely driven by the rush among exporters to utilise America's pause on its plans to impose country-specific reciprocal tariffs.
Retail inflation dipped to an over six-year low of 2.82 per cent in May due to subdued food prices, remaining below the RBI's median target of 4 per cent for the fourth consecutive month, according to government data released on Thursday. Consumer Price Index (CPI)-based retail inflation was 3.16 per cent in April and 4.8 per cent in May 2024.
From the Sensex pack, Asian Paints, UltraTech Cement, Power Grid, ICICI Bank, Reliance Industries, Hindustan Unilever, Bharat Electronics and Sun Pharma were among the major gainers. In contrast, Trent, Eternal, Axis Bank and Titan were among the laggards.
India's forex reserves jumped by $4.55 billion to $690.62 billion for the week ended May 9 on the back of a steep increase in gold assets, the RBI said on Friday.
Despite gross domestic product (GDP) growth being lower-than-expected for the July-September quarter, the six-member Monetary Policy Committee (MPC) may not cut the policy repo rate in the review meeting scheduled for next week due to high inflation in October, according to experts. "Consumer Price Index (CPI) inflation breaching the upper limit of the RBI's tolerance band in October (6.2 per cent year-on-year) is not a favourable backdrop for the MPC to commence the easing cycle, even as the growth outcome disappointed the MPC's expectations," said Shreya Sodhani, regional economist at Barclays, who expects the policy repo rate to be kept unchanged in the December meeting.
A day after his appointment as the 26th governor of the Reserve Bank of India (RBI), outgoing Revenue Secretary Sanjay Malhotra on Tuesday said one must understand the economic landscape and do what was best for the economy. "Let me first go, join, understand the turf ... Here it is a different role," Malhotra said, speaking to reporters in front of North Block.
The Reserve Bank of India's (RBI's) caution on inflation, highlighted during the recent monetary policy meeting, may put investors' faith in fast moving consumer goods (FMCG) stocks to test, analysts said. They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods.
New-age stocks to buy: Most new-age stocks have turned out to be wealth destroyers in stock markets, so far, in calendar year 2025. Shares of Ola Electric Mobility, for instance, have plunged nearly 50 per cent in the first half of CY 2025, while those of Swiggy, PB Fintech, Paytm, and Eternal (Zomato) have crashed between 6 per cent and 25 per cent, ACE Equity data shows.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Among Sensex stocks, Kotak Mahindra Bank, Bajaj Finance, Axis Bank, Power Grid, IndusInd Bank, Maruti, Bajaj Finserv and NTPC were the biggest gainers. However, Eternal, ICICI Bank, Titan, Mahindra & Mahindra, Adani Ports, Tata Steel and Bharti Airtel were among the laggards.
The December meeting of the Reserve Bank of India's (RBI's) six-member Monetary Policy Committee (MPC) will start on Wednesday even as there is no clarity on whether Governor Shaktikanta Das, the chair of the panel, will continue in office after his term ends next week. The outcome of the meeting will be announced on Friday by Das at 10 in the morning.
India's forex reserves dropped Rs 2.065 billion to Rs 686.064 billion for the week ended May 2, the RBI said on Friday.
The Reserve Bank of India (RBI) has barred four non-banking finance companies (NBFCs), including two microfinance institutions (MFIs), from sanctioning and disbursing loans for charging exorbitant interest rates to the borrowers. These four entities are Asirvad Microfinance, Arohan Financial Services (also an MFI), DMI Finance, which provides personal, consumption, and micro, small and medium enterprises loans, and Flipkart co-founder Sachin Bansal's Navi Finserv, which offers home and personal loans. The ban will take effect on October 21 to "facilitate closure of transactions in the pipeline", the regulator said in a statement.
Facing criticism from the government over the central bank prioritising inflation over growth, the new RBI Governor Sanjay Malhotra on Monday said that prospects of the Indian economy are expected to improve on the back of high consumer and business confidence in 2025. "As we strive to preserve financial stability to support a higher growth path for the Indian economy, our focus remains steadfast on maintaining stability of financial institutions and, more broadly, systemic stability," Malhotra said in foreword to the Financial Stability Report.
Flipkart has received a lending licence from the Reserve Bank of India (RBI), the Walmart-backed ecommerce company confirmed on Thursday. The nod came in March this year, according to sources.
Reserve Bank of India (RBI) Governor Shaktikanta Das has said the decision on interest rate moderation will be based on long-term inflation trajectory and not monthly data. The Monetary Policy Committee (MPC) headed by the RBI Governor is scheduled to meet between October 7 and 9 and take call on interest rate. The RBI kept the repo rate unchanged at 6.5 per cent for the ninth time in a row amid risks from higher food inflation.
State Bank of India, HDFC Bank and ICICI Bank have again been named as Domestic Systemically Important Banks (D-SIBs) by the Reserve Bank of India. The Reserve Bank on Wednesday came out with the list of D-SIBs.
Sensex sinks 573 pts on global tensions and high crude prices
While demand for sub Rs 50-lakh affordable housing prevails, market players cite increased land rates, escalated construction costs and low margins as key prohibiting factors.
The Reserve Bank of India (RBI) on Monday directed banks and non-banking financial companies (NBFCs) offering gold loans to thoroughly review their policies, processes, and practices to identify any gaps. The central bank also told them to closely monitoring their gold loan portfolios amid significant growth observed in this segment vis--vis some lenders. Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers.
Housing demand should improve nationwide after the Reserve Bank of India (RBI) cut the repo rate by a larger-than-expected 50 basis points (bps) on Friday, said real estate industry executives. The rate cut comes after housing sales in top Indian cities in the first quarter of 2025 dipped 28 per cent due to skyrocketing residential property prices and geopolitical headwinds, according to Anarock.
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