The Reserve Bank of India (RBI) in its mid-quarter monetary policy review on Monday kept the repo rate unchanged but cut the Cash Reserve Ratio (CRR) by 25 basis points (bps), a move that will likely infuse Rs 17,000 crore into the economy. The RBI will continue to target inflation in its credit policy. Below is the full text of its review report. Monetary and Liquidity Measures On the basis...
11:24 AM, Sep 17, 2012
New Delhi: The Reserve Bank of India (RBI) cut the cash reserve ration (CRR) by 25 basis points, which will leave Rs 17,000 crore more with the banks. Announcing its credit policy on Monday, which came in the backdrop of some big bang reforms pushed by the UPA Government, the RBI brought down the CRR from 4.75 per cent to 4.50 per cent. However, the repo rate remained unchanged at...
11:08 AM, Sep 17, 2012
New Delhi: The Reserve Bank of India (RBI) will be out with its credit policy on Monday amid mixed cues. It will continue to target inflation in its credit policy, that's the unanimous view of bankers, economists and fund managers polled by CNBC-TV18. Eighty per cent of the market expects RBI to leave policy rates unchanged and only 20 per cent expect a cut in repo rate. However, analysts believe...
06:29 AM, Sep 17, 2012
New York: Reserve Bank of India Governor D Subbarao has said the battle against inflation has not ended yet and high prices were mostly hurting the poor people, who do not have a mechanism to get their voice heard. The inflation continues to remain high and needs to be brought down to "more acceptable" levels of five per cent or less, Subbarao said in New York, while noting that the...
11:40 AM, Aug 29, 2012
Mumbai: The Reserve Bank of India (RBI) said on Thursday that fighting inflation remained the cornerstone of its monetary policy, and urged the government to cut expenditure, indicating it was unlikely to act soon to ease rates despite slowing growth. The RBI said poor summer rains had further clouded growth prospects for Asia's third largest economy, but the key was to cut government subsidies and revive capital spending. "Such an...
09:19 PM, Aug 23, 2012
New Delhi: India's annual consumer price inflation slowed slightly in July to 9.86 per cent, helped by a drop in petrol prices at the pump, government data showed on Tuesday, but a drought in parts of the country pushed food prices higher. India has the highest retail inflation among the BRICS group of emerging economies - Brazil, Russia, China, and South Africa - and is way above what the Reserve...
11:55 AM, Aug 21, 2012
Hyderabad: India needs to focus more on manufacturing in order to achieve GDP growth more than 6.5 per cent, Reserve Bank of India has said. The manufacturing sector has the scope for creating jobs for millions of people who leave other sectors such as agriculture, RBI Governor D Subbarao said in his keynote address in Hyderabad at Centre for Economic and Social Studies on Saturday. His remarks assume significance in...
12:39 PM, Aug 05, 2012
Mumbai: The Reserve Bank of India has scope to cut interest rates during this calendar year, Governor Duvvuri Subbarao said in a news conference after the central bank's policy review, though he declined to elaborate further. Subbarao said fiscal measures from the government would not necessarily prompt the central bank to take monetary policy action. Earlier on Tuesday, the RBI left key policy rates unchanged, citing persistent inflationary pressures. ...
05:29 AM, Aug 01, 2012
The Reserve Bank of India kept key policy rates unchanged in its April-June quarter monetary policy on Tuesday. ...
01:00 PM, Jul 31, 2012
New Delhi: The Reserve Bank of India (RBI) in its April-June quarter monetary policy on Tuesday left the key policy rates unchanged. However, it has cut the statutory liquidity ratio (SLR) to 23 per cent from 24 per cent earlier. This policy action was by and large in-line with CNBC-TV18 poll. Now, the repo rate or the rate at which banks borrow from RBI remained at 8 per cent while...
11:11 AM, Jul 31, 2012
New Delhi: The results of the 20th round of the 'Survey of Professional Forecasters' conducted by the Reserve Bank shows a downward revision in the median growth forecast for 2012-13 to 6.5 per cent. The industry and service sector median growth forecasts have turned low, but are expected to pick-up beginning Q2 of 2012-13. The average inflation outlook has been revised upward to 7.3 per cent for 2012-13 and moderation...
05:30 PM, Jul 30, 2012
Mumbai: The Reserve Bank plans to rope in outside consultants to overhaul its human resource practices, a move that would affect its nearly 18,000 employees. The central bank will form a panel of up to six independent professional firms to help RBI in framing, implementing and delivering integrated HR solutions in the areas of HR policies, processes and systems, among others. Among others, the empanelled consultants would advise RBI on...
05:24 PM, Jul 24, 2012
Bangalore: Soaring food costs likely pushed Indian inflation to its highest level this year in June, a Reuters poll showed, suggesting the Reserve Bank of India (RBI) will remain hawkish on monetary policy. The survey of 30 economists showed wholesale prices rising by an annual 7.62 per cent in June, slightly up from 7.55 in May. Forecasts were from 7.20 per cent to 8.20 per cent, narrower than the range...
10:32 AM, Jul 16, 2012
Mumbai: The Reserve Bank of India on Thursday said the country's banking sector has emerged resilient after a series of stress tests it conducted on the lenders. "The stress tests carried out on banks, incorporating a range of shocks, revealed deterioration in their capital position as compared with the baseline scenario, but the banking system remained resilient even under extreme stress scenarios," the apex bank said in its Financial Stability...
11:08 PM, Jun 28, 2012
Mumbai: The Reserve Bank on Thursday said the sovereign debt crisis in the Eurozone has increased the risks for India's financial stability in 2012. In the Financial Stability Report released in Mumbai, the central bank also said the country faces the risk of lower growth in 2012-13 if the monsoon is below average. Noting that global and domestic outlook have worsened since last December, the report said, "The combined effect...
09:58 PM, Jun 28, 2012
Mumbai: The Reserve Bank on India on Thursday notified changes in the FDI policy to allow FIIs to invest up to 23 per cent in commodity exchanges without seeking its prior approval. These changes were approved by the Department of Industrial policy and Promotion (DIPP) on April 10. In order to streamline the procedures to boost foreign investment into the country, the DIPP comes out with a consolidated FDI circular...
09:00 PM, Jun 28, 2012
Mumbai/New Delhi: In a bid to prop up the battered rupee, the Reserve Bank of India (RBI) on Monday hiked the limit of overseas investments in government bonds and announced a few other measures to improve market sentiments. The limit of overseas investment in government bonds has been raised by $5 billion to $20 billion and that of external commercial borrowings to $10 billion. Certain manufacturing and infrastructure companies that...
09:49 PM, Jun 25, 2012
Kolkata: Finance Minister Pranab Mukherjee on Saturday reassured that the Reserve Bank of India (RBI) will make some strategic announcements on Monday to improve the sentiment on the Dalal Street. "The Reserve Bank will announce some measures on Monday that will improve the markets," Pranab said in Kolkata. "Steps have been taken in consultation with the RBI Governor, expect announcements on Monday that will improve the market condition," Pranab added....
11:30 AM, Jun 23, 2012
Mumbai: The Indian government must reduce spending and not just raise taxes for fiscal consolidation, the Reserve Bank of India's Governor Duvvuri Subbarao said on Tuesday, a day after the central bank kept interest rates steady. He said raising taxes was not the same as reducing the fiscal deficit and added it was important to look at the quality of fiscal consolidation. The government failed to contain its fiscal deficit...
08:06 PM, Jun 19, 2012
New Delhi: Expressing disappointment over the Reserve Bank of India's decision of leaving interest rates unchanged, India Inc on Monday said there is an urgent need for rate cut to boost industrial growth and take economy to a higher trajectory. "A cut in the policy rates could have given some boost to the industrial sector and helped the economy regain the growth momentum," Assocham President Rajkumar Dhoot said. The RBI...
01:58 PM, Jun 18, 2012
