MONETARY

  • RBI sets 6 pc consumer price index target for 2016 December 2, 2014

    Mumbai: The Reserve Bank of India (RBI) has set a target of 6 per cent for consumer price index by 2016, said RBI Governor Raghuram Rajan adding that inflation is near comfort zone. Talking to Network18, the RBI Governor said inflation has been on the glide path. "We are seeing positive...
  • RBI redistributes work among Deputy Governors October 21, 2014

    Mumbai: The Reserve Bank, which is in the process of restructuring some of its departments, redistributed work among its four Deputy Governors. It said that consequent on reorganisation of the departments/work areas in the Reserve Bank effective on November 3, 2014, the portfolios of the Deputy Governors has been redistributed....
  • RBI's fresh agility helps tame India's money market volatility October 9, 2014

    Mumbai: The Reserve Bank of India (RBI) has finally made progress in taming the country's volatile money markets, displaying two traits it has been rarely associated with in the past: flexibility and a willingness to correct course mid-way. The overnight cash rate, a key indicator of liquidity, has recovered from a...
  • Finance Ministry, RBI to decide on monetary policy framework by December end October 7, 2014

    New Delhi: The Finance Ministry and the RBI will finalise a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government. According to official sources, the internal work for the new...
  • Full text: RBI's fourth bi-monthly monetary policy review September 30, 2014

    New Delhi: Reserve Bank Governor Raghuram Rajan on Tuesday left all key rates unchanged citing continued risks to inflation and difficult external situation especially on the geopolitical front. Here is the full text of the report: ...
  • Reserve Bank of India keeps key rates unchanged September 30, 2014

    New Delhi: The Reserve Bank of India did not spring up any surprise move in its fourth bi-monthly monetary policy review. The central bank has kept key rates unchanged. This is the fourth consecutive time that the RBI has kept key interest rates unchanged despite clamours from the industry to...
  • IMF, World Bank warn of renewed Gaza violence September 17, 2014

    Jerusalem: The World Bank and International Monetary Fund warned that insufficient funding and political efforts to rebuild Gaza would make economic recovery almost impossible and lead to further violence. The warnings came three weeks after Israel and Hamas signed a ceasefire to end 50 days of conflict, and as the...
  • India's foreign reserves down $1.32 billion September 13, 2014

    Mumbai: India's foreign exchange reserves fell by $1.32 billion to $317.31 billion for the week ended September 5, Reserve Bank of India (RBI) data showed. The reserves had grown by $60.5 million to $318.64 billion for the week ended August 29. According to the RBI's weekly statistical supplement, foreign currency assets,...
  • Four gennext Indianorigin economists in IMF list of 25 August 30, 2014

    Washington: Four economists of Indian origin have been featured in the International Monetary Fund's (IMF) list of 25 economists under 45 who are shaping the way one thinks about the global economy. The "Generation Next" list of "economists under 45 (who) will have the most influence in the coming decades on...
  • Inflation at 5 month low of 5.19 per cent in July August 14, 2014

    New Delhi: Inflation dipped to a five month low of 5.19 per cent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items. It was at 5.43 per cent last month and 5.84 per cent in July 2013. Inflation in the overall food articles...
  • Government, RBI to devise modern monetary policy framework July 10, 2014

    New Delhi/Chennai: With prices staying at stubbornly high level, the government and the RBI on Thursday agreed to devise a modern monetary policy framework with clear inflation targeting. The tone for inflation targeting was set by Finance Minister Arun Jaitley in his budget speech when he stressed on a modern monetary...
  • RBI keeps key policy rates unchanged; slashes SLR by 0.5 per cent June 3, 2014

    There have been no changes in key policy rates by the Reserve Bank of India. While announcing the second bimonthly monetary policy, 201415, in Mumbai on Tuesday, RBI Governor Raghuram G Rajan said that the apex bank has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged...
  • Nifty ends above 7400 for 1st time; BSE Metal surges 5 pc June 3, 2014

    Mumbai: Equity benchmarks ended at record closing highs on Tuesday after the RBI credit policy review indicated huge amount of liquidity coming into the system and positive Chinese manufacturing data. The 50share NSE Nifty closed above 7400mark for the first time ever, up 53.35 points to 7415.85 while the 30share...
  • Sri Lanka growth positive but needs to reduce debt: IMF May 30, 2014

    Colombo: Sri Lanka's economic growth has exceeded expectations last year, the International Monetary Fund (IMF) said today and forecast that the country's economy would grow by around 7 per cent in 2014. "Real GDP growth reached 7.3 per cent, inflation declined to below 5 per cent," Todd Schneider, the head of...
  • India not pursuing any agenda for expansion of BRICS May 13, 2014

    New Delhi: India on Tuesday said that it will not pursue any agenda for expansion of BrazilRussiaIndiaChinaSouth Africa (BRICS) bloc during the upcoming summit in July in Brazil. Noting that the interest of Argentine and various other countries to join BRICS is wellknown, official sources said currently there was no...
  • April retail inflation rises to 3month high of 8.59 pc May 12, 2014

    New Delhi: Costlier vegetables, fruits and milk pushed up retail inflation to threemonth high of 8.59 per cent in April, squeezing the space for the Reserve Bank to ease interest rates in the monetary policy review in June. The retail inflation, measured on consumer price index (CPI), was 8.31 per cent...
  • I decide monetary policy, govt can fire me if it wanted: Raghuram Rajan May 9, 2014

    New Delhi: Asserting independence of the central bank, Reserve Bank Governor Raghuram Rajan on Friday said that it is he who determines the monetary policy and the government can fire him if it wanted. "I determine the monetary policy. I say what it is. The government can fire me, but the...
  • IMF says Ukraine would need modified bailout if eastern region lost May 2, 2014

    Washington: The International Monetary Fund warned on Thursday it would be forced to redesign its $17 billion bailout for Ukraine and require additional financing if the country lost territory in its restive eastern region. The Fund also said a deterioration in relations between Ukraine and Russia, which buys about a quarter...
  • India's growth likely to recover to 5.4 per cent in 2014: IMF April 8, 2014

    Supported by slightly stronger global growth, improving export competitiveness and implementation of recently approved investment projects, India's growth is expected to recover from 4.4 per cent in 2013 to 5.4 per cent in 2014, the IMF said on Tuesday. "India's growth is expected to recover from 4.4 per cent in 2013...
  • Obama names Indian-American as alternate IMF director April 4, 2014

    President Barack Obama is nominating Sunil Sabharwal, an independent Indian American investor in the payments sector, to a key job as US Alternate Executive Director at International Monetary Fund. "I am grateful these accomplished men and women have agreed to join this Administration, and I'm confident they will serve ably in...
  • Full text: First 2014-15 bi-monthly Monetary Policy Statement April 1, 2014

    The Reserve Bank of India on Tuesday released it bi-monthly monetary statement keeping the repo rate unchanged at 8 per cent. The CRR has been kept at 4 per cent. Here is the full text of first bi-monthly Monetary Policy Statement: Monetary and Liquidity Measures On the basis of an assessment of the...
  • RBI set to announce annual monetary policy today, no changes likely April 1, 2014

    The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. ...
  • RBI likely to maintain status quo in monetary policy on Tuesday March 31, 2014

    New Delhi: The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. "It would be quite a tough call for the RBI in the given scenario......
  • G-7 countries ready to aid Ukraine March 3, 2014

    Washington: Amidst raging tension, the group of seven rich economies (G-7) has committed itself to Ukraine's economic assistance and revival as long as Kiev agreed to pursue economic reforms sought by the IMF. In a statement, G-7 countries welcomed the decision of the International Monetary Fund (IMF) to send a team...
  • Satisfied with G20 outcome, concerns on board: Chidambaram February 23, 2014

    Sydney: Satisfied with the outcome of G20 meeting, Finance Minister P Chidambaram on Sunday said India's concerns with regard to withdrawal of US stimulus and the need to expedite IMF quota reforms have been taken on board by the group of rich and developing nations. "The communique has been drawn by...
  • No abrupt changes to US monetary police, Fed to keep trimming stimulus: Janet Yellen February 12, 2014

    Janet Yellen, fresh from taking the helm of the Federal Reserve, made it clear on Tuesday she would not make any abrupt changes to US monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labor market recovery was far from complete. In her...
  • RBI hikes repo rate by 25 bps, keeps CRR unchanged at 4 pc January 28, 2014

    New Delhi: The Reserve Bank of India on Tuesday hiked repo rate by 25 basis points. Following the hike the lending rate is now 8 per cent. However, it has kept the cash reserve ratio (CRR) unchanged at 4 per cent. The announcement were made at the third quarter monetary policy...
  • RBI to announce 3rd quarter monetary policy review today January 28, 2014

    New Delhi: The Reserve Bank of India is likely to announce the third quarter monetary policy on Tuesday. The experts have said that the RBI may retain the status quo despite the clamour to slash interest rates. Banks across the country have been insisting on rate cuts to help boost...
  • RBI moves towards monetary policy overhaul January 22, 2014

    The Reserve Bank of India should make managing inflation its main policy objective and set monetary policy by committee, a central bank panel has recommended, a shift that would bring its practices in line with many other central banks. The recommendations are widely expected to be accepted. They were issued late...
  • Up to 15, mostly foreigners, killed in Kabul suicide attack January 18, 2014

    Kabul: Up to 15 people, mostly foreigners, were killed on Friday when a suicide bomber blew himself up outside a popular Lebanese restaurant in the Afghanistan capital of Kabul, police said. Islamist Taliban insurgents claimed responsibility for the attack in the upscale Wazir Akbar Khan district, which hosts many embassies and...