Monetary

  • India's growth likely to recover to 5.4 per cent in 2014: IMF 08-04-2014 06:58 PM

    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...
  • Obama names Indian-American as alternate IMF director 04-04-2014 10:57 AM

    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...
  • Full text: First 2014-15 bi-monthly Monetary Policy Statement 01-04-2014 11:12 AM

    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...
  • RBI set to announce annual monetary policy today, no changes likely 01-04-2014 09:04 AM

    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 31-03-2014 03:41 PM

    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...
  • G-7 countries ready to aid Ukraine 03-03-2014 12:10 PM

    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...
  • Satisfied with G20 outcome, concerns on board: Chidambaram 23-02-2014 01:50 PM

    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...
  • No abrupt changes to US monetary police, Fed to keep trimming stimulus: Janet Yellen 12-02-2014 01:20 PM

    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...
  • RBI hikes repo rate by 25 bps, keeps CRR unchanged at 4 pc 28-01-2014 11:11 AM

    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...
  • RBI to announce 3rd quarter monetary policy review today 28-01-2014 09:20 AM

    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 22-01-2014 10:08 AM

    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...
  • Up to 15, mostly foreigners, killed in Kabul suicide attack 18-01-2014 09:45 AM

    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...
  • Rajan's report card in 2014 16-01-2014 02:18 PM

    There are four elements of the report card that we would write in December 2014. How much has year-on-year CPI inflation declined? Did the exchange rate hijack monetary policy? Has the bond-currency-derivatives nexus started thriving, with liquidity and market efficiency? Has substantial implementation of the Indian Financial Code taken place?...
  • Need to focus on growth, says Economic Affairs Secretary ahead of RBI policy 12-01-2014 01:21 PM

    Ahead of the RBI's monetary policy review, Economic Affairs Secretary Arvind Mayaram has pitched for shifting the policy focus to growth as interest rates do not have a bearing on food inflation. "I will not like to second-guess the RBI at all...I will fervently appeal to anybody who listens to...
  • India's foreign exchange reserves drop by $12.6 mn 28-12-2013 04:39 PM

    Mumbai: India's foreign exchange (forex) reserves declined by $12.6 million to $295.50 billion for the week ended December 20, Reserve Bank of India (RBI) data showed. This is the second consecutive week of decline in the country's forex reserves. The foreign exchange reserves had declined by $192.8 million to $295.51...
  • RBI Mid-Quarter Monetary Policy Review: December 2013 18-12-2013 10:59 AM

    The Reserve Bank of India (RBI) has kept key policy rate and cash reserve ratio unchanged in the December 2013 Mid-Quarter Monetary Policy Review. On the basis of an assessment of the current and evolving macroeconomic situation, the RBI decided to keep the policy repo rate under the liquidity adjustment...
  • Full text: Review of RBI's second quarter monetary policy of 2013-14 29-10-2013 12:35 PM

    New Delhi: The Reserve Bank of India Governor Raghuram Rajan on Tuesday reviewed second quarter monetary policy on Tuesday. The RBI hiked the repo rate by 25 basis points from 7.50 per cent to 7.75 per cent and kept the Cash reserve Ratio unchanged. Part A. Monetary Policy Monetary and...
  • India rejects IMF projections on economic growth 09-10-2013 09:58 PM

    New Delhi: India on Wednesday rejected IMF's growth projections of 3.75 per cent for the current fiscal as "pessimistic", saying that the economy is turning around and the GDP expansion will exceed 5 per cent. "I reject the IMF numbers. The Indian economy is seeing turnaround both in terms of...
  • P Chidambaram visits US, to woo investors 08-10-2013 08:15 PM

    New Delhi, Oct 8 (IANS)Finance Minister P Chidambaram will be on a week's visit to the US beginning Wednesday to woo foreign investors and attend the annual meeting of the World Bank and the International Monetary Fund. According to a finance ministry statement here, Chidambaram will attend annual plenary meetings...
  • IMF lowers India's growth projections to 3.8 percent 08-10-2013 06:47 PM

    Washington:With the world economy entering yet another transition, the International Monetary Fund (IMF) expects India to grow at around 3.8 percent in fiscal 2013, about 1.8 percentage points lower than its July projection. For fiscal year 2014, growth is projected to accelerate somewhat to 5 percent, again 1.1 percentage points...
  • Analysts welcome RBI moves;see another repo hike on Oct 29 08-10-2013 05:13 PM

    Mumbai: Welcoming RBI'[s liquidity infusing moves wherein it cut MSF by 0.50 per cent and introduced a term repo window, analysts on Tuesday said this in no way reflects a shift in the stance and the market must expect a repo rate hike at the next policy review later this...
  • RBI trims short-term rate as rupee pressure eases 08-10-2013 10:18 AM

    The Reserve Bank of India on Monday cut a key overnight interest rate, further dialling back an emergency measure it had imposed in mid-July in order to defend the embattled rupee that had tightened market liquidity and pushed up borrowing costs. The move to cut the marginal standing facility (MSF)...
  • Rajan's statement shown RBI is concerned about inflation: Montek 20-09-2013 03:53 PM

    Deputy Chairman of Planning Commission Montek Singh Ahluwalia said RBI Governor Raghuram Rajan has done somethings that will ease liquidity and at the same time send a signal that the RBI is concerned about bringing inflation down. ...
  • India Inc disappointed by hike in repo rate by RBI 20-09-2013 02:36 PM

    Expressing disappointment over the hike in repo rate by the RBI, India Inc on Friday said a rate cut by the bank would have helped ameliorate sentiments as businesses are "reeling" under a tight liquidity crunch due to high cost of capital. "High interest rate has been identified as a...
  • Raghuram Rajan defends his monetary policy, says RBI is anti-inflation 20-09-2013 01:05 PM

    Mumbai: Reserve Bank of India Governor Raghuram Rajan defended his first monetary policy on Friday in which the repo rate was hiked by 25 basis points from 7.25 per cent to 7.5 per cent. He said, "We intend to make repo rate the effective policy rate." He also said the...
  • Raghuram Rajan hikes repo rate by 25 basis points 20-09-2013 11:25 AM

    Mumbai: Reserve Bank of India Governor Raghuram Rajan on Friday hiked the repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 7.25 per cent to 7.5 per cent with immediate effect. The RBI said repo rate has been hiked to bring down inflation to tolerable level...
  • Full text: RBI Mid-Quarter Monetary Policy Review 20-09-2013 11:06 AM

    Reserve Bank of India Governor Raghuram Rajan announced his maiden monetary policy on Friday. The Mid-Quarter Monetary Policy Review announced by Rajan saw the RBI an increase in repo rate by .25 basis points to 7.5 per cent. Below is the full text of the September 2013 Mid-Quarter Monetary Policy...
  • Sensex tumbles 383 points after RBI hikes interest rate 20-09-2013 09:44 AM

    Mumbai: The benchmark BSE S&P Sensex on Friday slumped the most in almost three weeks, closing down 383 points after the RBI unexpectedly hiked the repo rate to check inflation. The Sensex fell as much as 595.21 points before ending 382.93 points lower, or 1.85 per cent, to 20,263.71. It...
  • Raghuram Rajan to announce his maiden RBI monetary policy today 20-09-2013 07:58 AM

    Mumbai: Reserve Bank of India Governor Raghuram Rajan will announce his maiden monetary policy on Friday. The move by the US Federal Reserve not to taper stimulus has made his job easier, but he still has to balance slowing growth with accelerating inflation which soared to 6-month high of 6.1...
  • SBI increases its minimum rate of lending to 9.80 per cent, makes loans costlier 19-09-2013 11:39 AM

    The country's largest lender, State Bank of India, on Thursday said it increased its base rate, or the minimum rate of lending, to 9.80 per cent, a day ahead of the RBI's policy review. "State Bank of India has revised the base rate by 0.10 per cent from 9.70 per...