Senior officials in the MF industry say while the finance ministry and regulators communicate regularly, this is one of the very few instances in many years where an issue between the two has come out into the open.
The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of 'innovative' housing financing schemes.
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The rupee had earlier this month touched a life time low of 61.21 to a dollar.
Globally, gold fell 0.2 per cent to $1,162.25 an ounce in Singapore.
2018 has been a disappointing and highly volatile year for equity investors.
'It's little things like these -- sharing medicines, consoling each other after a mulaqat (meeting) or a tearful phone conversation with your loved ones or when we would return, dejected, when our bails were rejected -- that made our time in jail bearable.'
'Somehow, I don't see the Modi government shutting down Air India.' 'So, Mallya may prove to be luckier than the government; at least his financial clock has stopped ticking,' says T N Ninan.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
I-T dept investigating black money angle; FM hints against bailout for bourse's investors.
As West Bengal, Kerala, Assam, Tamil Nadu and Puducherry prepare for new administrations, one is reminded of the disparity that runs through the veins of the Indian states, notes Mihir S Sharma.
Gold prices plunged by Rs 200 to trade at Rs 27,000 per 10 grams at the bullion market on Thursday.
Rupee has depreciated against major international currencies since July 2011.
For the current fiscal which ends on March 31, it put the real GDP estimate at 5 per cent. It estimated a 7 per cent growth in 2022-23 and 2023-24 fiscal years. The inflation rate was seen moderating to 4.4 per cent in the next fiscal from 4.7 per cent in the current.
Anand Rathi recently carried out a research on the behaviour of the economy and CAD.
The flawed response to the crisis has fed a us-vs-them mentality in which the banker, the expert, the coastal entrepreneur, the immigrant, the foreigner are all villains. The crisis was not that much of a problem; the response -- the over-reaction, the sovereign debt build-up and the lasting anger -- is the problem, says Mihir S Sharma.
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
The Supreme Court had observed that issues of national economic interest; disclosure of information regarding currency or exchange rates/interest rates/ taxes; regulation or supervision of banking, insurance and other financial institutions; proposals for expenditure or borrowing, and foreign investments, could all, in some cases, harm the national economy, especially if released prematurely.
After his previous visit, the Sensex crashed and it took four painful years to top the 21,000 mark.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
Markets may have initially cheered the FM's static borrowing numbers, but the picture may not be as rosy.
Does Abhijit Banerjee's Nobel Prize help India reduce extreme poverty, asks Rajeev Srinivasan.
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
The central bank operationalised these special windows on September 4 to prop the rupee which had fallen close to 30 per cent between April and August.
For 20 years, the stock market headed nowhere, and this has created permanent aversion.
The country's external debt rose by 13 per cent to $345.8 billion in the 2011-12 fiscal on account of higher commercial borrowings and trade credit.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
Perhaps the calculation is that economic recovery will have been achieved before the next general election comes around, but such assumptions can come unstuck if current directions are not reversed quickly, cautions T N Ninan.
Sensex remained volatile through the day.
Silver managed to recover some grounds.
A "quick exit" through liquidation for 314 stocks involving a total pledged share value of Rs 1,67,300 crore.
Gold advanced one per cent to $1,212.21 an ounce in Singapore.
Silver also dropped by Rs 300 to Rs 38,400 per kg.
Almost 40 per cent of a durable company's sales are achieved during the festival season
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
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