The Reserve Bank of India may hike rates again in October if inflation doesn't moderate. ...
10:42 PM, Sep 16, 2011
New Delhi: Experts do not rule out another rate hike by RBI after Friday's 25 basis points increase, on the back of recent hike in petrol prices and the possibility of food inflation not declining in the coming months. "The RBI has hiked key interest rates by 25 basis points, which wasn't much of a surprise. However, the guidance now causes many to wonder whether the rate cycle has peaked...
05:30 PM, Sep 16, 2011
Mumbai: All eyes will be on the credit policy on Friday. A CNBC-TV18 poll suggests 70 per cent believe the RBI will go ahead with a 25 bps hike. Goldman Sachs, however, differs and says there could be a pause. It feels there are no longer massive inflationary pressures and growth is more important. Meanwhile, the US markets log in fourth day of sharp gains with the S&P 500 above...
08:17 AM, Sep 16, 2011
Mumbai: The Central Bank will announce its mid-quarter policy review on Friday. According to a CNBC-TV18 poll, 70 per cent expect the RBI to stick to script and go for a 25 basis point hike. The outlook on inflation is quite disturbing and 40 per cent of those polled believe that inflation will remain above the eight per cent mark for the rest of the fiscal year. However, an overwhelming...
07:56 AM, Sep 16, 2011
Mumbai: The Central Bank will announce its mid-quarter policy review on Friday. According to a CNBC-TV18 poll, 70 per cent expect the RBI to stick to script and go for a 25 basis point hike. The outlook on inflation is quite disturbing and 40 per cent of those polled believe that inflation will remain above the eight per cent mark for the rest of the fiscal year. However, an overwhelming...
07:56 AM, Sep 16, 2011
New Delhi: India's food inflation dipped marginally to 9.55 per cent for the week ended August 27 year-on-year, coming down from the double-digit levels registered the previous week, according to official data released on Thursday. In the week under review, prices of essential food items were still reigning on the higher side. Onions were 42 per cent costlier, vegetable prices rose 22.42 per cent, while fruits became dearer by 16.57...
12:44 PM, Sep 08, 2011
New Delhi: After a gap of over five months, food inflation entered the double-digit zone at 10.05 per cent for the week ended August 20, with Finance Minister Pranab Mukherjee describing the trend as "disturbing" and experts saying RBI may go in for another rate hike. The weekly food inflation, measured by Wholesale Price Index (WPI), went up from 9.80 per cent on account of expensive onion, vegetables, fruits and...
12:32 PM, Sep 01, 2011
Mumbai: ICICI Bank, India's second-largest lender, posted a 30 per cent rise in quarterly profit, slightly below estimates, as strong credit growth and lower provisions for bad loans were offset by higher expenditure. ICICI, also listed in New York, said net profit in April-June rose to 13.32 billion rupees ($302 million) from 10.26 billion a year ago. Net interest income was 24.11 billion rupees, compared with 19.92 billion a year...
02:07 PM, Jul 29, 2011
New Delhi: Speak Asia COO Tarak Bajpai was detained by the Economic Offenses Wing of the Mumbai police for questioning on Friday. The online survey company hit controversy in a multi-crore scam. The move comes just two days after CID froze the online survey company's bank accounts. Bajpai, who is the most prominent face of the online survey company's India operations will be flown from Indore to Mumbai. Speak Asia...
07:14 AM, Jul 29, 2011
New Delhi: The Reserve Bank of India (RBI) hiked short-term lending and borrowing rates sharply by 50 basis points for the third time in three months to tame high inflation, a move that would make all personal and corporate loans more expensive. The repo rate has been hiked by 0.50 per cent to 8 per cent and the reverse repo rate has been hiked by 0.50 per cent to 7...
11:05 AM, Jul 26, 2011
New Delhi: The Reserve Bank of India (RBI) might hike key interest rates at its policy review on Tuesday to tame inflation. The hike is likely to further dampen the demands for home and car loans which are already the lowest in recent months. The RBI on Monday gave strong hints of another hike - the 10th in the last 15 months - saying that high inflation requires further monetary...
07:36 AM, Jul 26, 2011
Mumbai: Reserve Bank on Tuesday said inflation would continue to face upward pressure in the months ahead, indicating that it could further raise key interest rates to check rising prices in its mid-quarterly policy review on Thursday. "Global commodity prices, particularly oil, and performance of the monsoon are the key risk factors to inflation management in the months ahead", RBI Governor D Subbarao said in the foreword to the central...
07:13 PM, Jun 14, 2011
New Delhi: Prime Minister Manmohan Singh has expressed confidence that his government will be able to achieve 8.5 per cent growth during the current fiscal despite concerns over high oil prices. "As of now I have not seen any sign that we should change our view with regard to our ability to sustain a growth rate of 8.5 per cent. I am confident that we will be able to sustain...
09:46 AM, May 29, 2011
New Delhi: Finance Minister Pranab Mukherjee to outline the government's gameplan to bring home black money. The illicit deposits stashed away in offshore banks. This after the government drew flak from the Opposition and the apex court for failing to act on the menace. Mukherjee is expected to outline the government's strategy to tackle the issue and indicate administrative and legislative steps taken so far by the government to deal...
07:10 AM, Jan 25, 2011
New Delhi: The Reserve Bank is investigating the Rs 300 crore fraud in Citibank's Gurgaon branch, which saw diversion of depositors funds in stock markets. "RBI is investing the matter (Citi Bank fraud)," a key Reserve Bank source said. The fraud at the Citibank's Gurgaon branch, involving diversion of depositors money into the stock market, was uncovered last week. Several high networth individuals (HNIs), including promoters of Hero Group, were...
04:11 PM, Jan 05, 2011
New Delhi: The year's first three quarters with over 8.5 per cent growth marked a revival of the Indian economy in 2010, but the year also ends on a tart note due to high inflation, a virtual status quo on key reforms and allegations of some serious financial scams. The year evidently started on a positive note when the economy registered 8.6 per cent growth in the first quarter, factory...
02:01 PM, Dec 29, 2010
Mumbai: India's headline inflation eased to 8.5 per cent in August from a revised 9.8 per cent in July, in part due to a change in the way the index is calculated, government data showed on Tuesday. Under the old data series, August inflation would have been 9.5 per cent. This time last year, inflation was just 0.3 per cent. Despite two months of slowing, inflation remains much higher than...
12:14 AM, Sep 15, 2010
MUMBAI: ICICI Bank, India's second-largest lender, said it was raising its lending rates by 50 basis points from Wednesday, in line with the Reserve Bank of India's tightening policy. The private-sector lender said its prime lending rate would be 16.25 per cent and the floating reference rate for consumer loans would be 13.25 per cent. On Monday, State Bank of India, the country's largest lender, had said it was raising...
08:53 AM, Aug 17, 2010
Indian middleman, Aditya Khanna, engaged by the banknote firm 'Securency', is related to senior politician Natwar Singh. ...
08:40 AM, Aug 16, 2010
