Mumbai: The Reserve Bank of India will pump in Rs 12,000 crore in the market later this week by buying government securities. "Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquidity conditions, the RBI has decided to conduct Open Market Operations (OMOs) by purchasing the following government securities for an aggregate amount of Rs 12,000 crore on May 25, 2012," it...
09:20 PM, May 22, 2012
Mumbai: The rupee slumped to a record low against the dollar on Wednesday as risk aversion in global markets added pressure on a currency already under fire from the country's current account and fiscal deficits. The currency's slide came just before Finance Minister Pranab Mukherjee said he had directed his ministry to boost efforts towards fiscal consolidation. Government spending has been a concern for financial markets and a factor pushing...
05:59 PM, May 16, 2012
Mumbai: The Reserve Bank of India's battle to contain a falling rupee just got tougher. The current account deficit is widening and a weak global investment climate coupled with policy paralysis in New Delhi, sticky inflation and slowing growth have increased the aversion of foreign investors to India, pushing the capital account into the red. Last week's move by rating agency Standard & Poor's to cut the country's credit rating...
10:14 AM, May 01, 2012
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
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
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