Mumbai: Indian bond yields rose, while the rupee and stocks remained under pressure after Standard & Poor's cut India's outlook, with traders predicting pressure on the central bank to step in to prevent further falls in markets. Indian markets have already been battered in recent weeks by the issues spotlighted by S&P in downgrading the country's outlook to negative, with the rupee recently at three-and-half-month lows, and bond yields near...
10:59 PM, Apr 25, 2012
Latha Venkatesh, Banking Editor, CNBC-TV18 said consumers will most definitely benefit from RBI's rate cuts. ...
12:12 AM, Apr 18, 2012
New Delhi: The Reserve Bank's decision to cut lending rate by 0.50 per cent will encourage investments, Finance Minister Pranab Mukherjee said on Tuesday, while assuring the government will also take additional steps to boost growth and control price rise. "The growth, which has weakened in past months, should now improve," he said. "The monetary policy announcements should help in investment revival and contribute to strengthening of business sentiments. In...
04:57 PM, Apr 17, 2012
Mumbai: In a bid to boost growth, the Reserve Bank of India (RBI), in its annual monetary policy for 2012-13 , has cut the policy rates by 50 basis points. The repo rate now stands at 8 per cent from 8.50 per cent earlier. Similarly, the reverse repo rate is now at 7 per cent from 7.50 per cent earlier. Lauding the central bank, C Rangarajan, chairman of Prime Minister's...
01:12 PM, Apr 17, 2012
Mumbai: The following are the highlights of the Annual Monetary Policy for 2012-13 announced by the Reserve Bank of India (RBI) Governor D Subbarao on Tuesday: * Short term lending rate (repo) lowered by 0.50 per cent to 8 per cent. * Cash reserve ratio retained at 4.75 per cent. * GDP growth for 2012-13 projected at 7.3 per cent. * March-end, 2012-13 inflation expected at 6.5 per cent. *...
12:52 PM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent but did not touch the cash reserve ratio, which remains at 4.75 per cent. The cut in the repo rate is an indication that banks could reduce the interest rates on home and car loans. Following is the full text of RBI's Monetary Policy for...
11:35 AM, Apr 17, 2012
New Delhi: India's deficits and short-term debt levels are "disturbing," but it is not facing a repeat of a 1991 balance of payments crisis, Reserve Bank of India chief Duvvuri Subbarao said on Saturday. Dependent on imported oil which it then subsidises, India is exposed to external shocks such as high crude prices and has seen its fiscal and current deficits blow out in recent months, triggering some economists to...
10:10 AM, Apr 15, 2012
New Delhi: Come April 1 and cheques and bank drafts will be valid only for three months, a development that the Reserve Bank of India (RBI) thinks will help mitigate frauds related to such instruments. The RBI has directed that with effect from April 1, 2012, banks should not make payments against cheques, drafts, pay orders or banker's cheques if they are presented after the period of three months from...
05:05 PM, Mar 23, 2012
New Delhi: High interest rates, coupled with adverse global situation, are impacting investment and economic growth, Finance Minister Pranab Mukherjee said on Tuesday. In a globalised world where major developed economies are going through a turbulent time, growth cannot be taken for granted, the Finance Minister said at the Assocham annual general meeting here. However, the slowdown should be a temporary phenomenon, he said. "This continuing global uncertainty is also...
12:24 AM, Feb 22, 2012
Patna: The Reserve Bank of India (RBI) on Friday said interest rates have peaked and indicated that it would reduce them after taking into account the Budget proposals and global commodity prices. "The inflation and interest rate cycles have peaked and have to come down and for that the RBI will look at events like the budget (2012-13), international crude oil prices and other variable factors to calibrate its policies,"...
09:28 PM, Feb 17, 2012
Mumbai: With liquidity deficit being way above its comfort level, the Reserve Bank announced on Friday that it will reintroduce a second LAF window to inject cash into the system. The RBI operates liquidity adjustment facility (LAF) to help banks manage their liquidity position. The central bank said it will have a second LAF repo every Friday between 1630 and 1700 hours. At present, RBI operates the repo (injection) and...
10:12 PM, Jan 27, 2012
Mumbai: With liquidity deficit being way above its comfort level, the Reserve Bank on Friday announced that it would reintroduce a second LAF repo to inject additional cash into the system. The RBI which operates liquidity adjustment facility (LAF) to help banks manage their liquidity position said it would have a second LAF repo every Friday between 1630 and 1700 hours. At present, the apex bank operates the repo (injection)...
09:48 PM, Jan 27, 2012
Mumbai: Reserve Bank of India Governor Duvvuri Subbarao said on Tuesday it would be difficult to predict the timing, pace and magnitude of any interest rate cuts. The RBI will be very circumspect about how rate cuts should roll out when they start, he said, adding the central bank would also have to look at the fiscal deficit before cutting rates. The bank will look at how Tuesday's cut in...
04:57 PM, Jan 24, 2012
New Delhi: The Reserve Bank's decision to cut cash reserve ratio (CRR) by half a percentage point will boost the economic growth by increasing liquidity in the system and reducing cost of fund, the Finance Ministry said on Tuesday. "CRR cut ensures that fair amount of money is available, the cost of fund is reduced ... All these things are good to create a growth enhancing impression," Economic Affairs Secretary...
01:39 PM, Jan 24, 2012
Mumbai: Indicating that it may not tweak interest rates in Tuesday's policy review, the Reserve Bank of India (RBI) on Monday said it will try to strike a balance between the need for promoting growth and containing inflationary expectations. The RBI said that GDP growth during the current fiscal is likely to fall below its earlier projection of 7.6 per cent, while inflation, which is still a cause for concern,...
07:09 PM, Jan 23, 2012
New Delhi: Ahead of the monetary policy review by RBI, Commerce and Industry Minister Anand Sharma on Monday made out a strong case for lowering of interest rates in the wake of industrial slowdown. "We are of considerate view that interest rates for investment for industry should be lowered. We have taken up with the Finance Minister who is receptive and positive particularly for small and medium enterprises," Sharma told...
05:03 PM, Jan 23, 2012
New Delhi: Overlooking the demand of India Inc to lower interest rates, the Reserve Bank in its policy review may refrain from cutting policy rate as the inflation of manufactured goods is still high. "I don't see moderation in the interest rate (in the coming policy). CRR (Cash Reserve Ratio) cut I am not hopeful," SBI Chairman Pratip Chaudhuri said. "I think there would be strong measures to indicate that...
11:20 AM, Jan 22, 2012
Mumbai: The Reserve Bank has approved debt-ridden national carrier Air India's financial restructuring plan, which would enable banks to amortise their provisional losses over 29 quarters, a senior Air India official said on Saturday in Mumbai. "This should help banks to reduce the impact on their balance sheets, as well as assist the airline in its restructuring programme. If implemented as per the RBI recommendations, which have been approved by...
09:16 PM, Jan 07, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday said it will buy up to 120 billion rupees of government bonds via open market operations on Friday, including the 10-year paper which till recently was the benchmark paper. The central bank said it will buy 8.07 per cent 2017 bonds, the 7.80 per cent 2021 bonds, the 8.13 percent 2022 bonds and the 8.26 percent 2027 bond using multiple-price method....
11:26 PM, Jan 03, 2012
Tonight at 10, Sagarika Ghose discusses with a panel of experts if politics in India destroy the country's growth in other spheres?
11:48 AM, Jan 03, 2012
