Mumbai: State Bank chairman Pratip Chaudhuri on Wednesday said he expects the Reserve Bank to leave the key policy rates unchanged, but sees a 100 basis points reduction in the cash reserve requirements (CRR) on September 17, which can help banks trim base rates.
The monetary authority is expected to take call on the interest rate regime on September 17 at mid-quarter review, and it is expected that Governor D Subbarao will leave the lending rates unchanged in view of sticky inflation situation.
"I expect a one percentage point cut in the CRR...which will have an impact (on the interest rate scene)," Chaudhuri told reporters on the sidelines of a banking event here.
He hinted at reduction in the bank's base rate. "If there is a CRR cut, then there is a possibility of reducing the base rate too," the chairman said....
more
10:53 PM, Sep 05, 2012
Kozhikode: Ahead of its first quarter monetary policy review on July 31, the Reserve Bank on Friday said sacrificing some economic growth is necessary to rein in price rise. "Inflation hurts poorer people much more than it hurts rich people. You cannot control inflation without sacrificing some growth that is inevitable but the sacrifice of growth to manage inflation is only in the short term," RBI governor D Subbarao said...
10:34 PM, Jul 06, 2012
New Delhi: The Indian stock markets on Monday are expected to react positively to the Greece results and also domestic factors. The Reserve Bank of India will announce its mid-term credit policy review on Monday. Majority of bankers and economist polled by CNBC-TV18 say that the RBI will cut the repo rate and the reverse repo rate by 25 basis points. This means home loans could become cheaper. The cash...
06:14 AM, Jun 18, 2012
New Delhi: The Reserve Bank of India (RBI) on Tuesday reiterated its concerns on inflation and a widening current account deficit in a meeting with economists a week before its annual monetary policy review, according to two economists who were there. A Reuters poll of 20 economists issued on Tuesday showed the RBI is expected to cut rates for the first time in three years to give a boost to...
02:50 AM, Apr 11, 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: 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 Indian rupee rebounded early on Friday, a day after the central bank curbed speculation in the forwards market after the currency had plumbed record lows for three days in a row. At 9:21 am (0351 GMT), the rupee was at 52.63 per dollar, 1.8 per cent stronger than its previous close of 53.64/65. It strengthened to as much as 52.50 in early deals. On Thursday, it had touched...
09:33 AM, Dec 16, 2011
Mumbai: Indian markets closed on a negative note with the 30-share BSE Sensex dropping more than 350 points, The Sensex closed at 15491.35, down by 345.12 points and the 50-share NSE Nifty was at 4651.60, down by 94.75 points. The BSE Capital Goods, Realty, Bank, Power, Metal and Oil & Gas indices fell 2.5-4.6 per cent. Among the largecaps, L&T, Sterlite Industries, TCS, Jaiprakash Associates, DLF, Axis Bank and Reliance...
09:16 AM, Dec 16, 2011
Washington: The US has expressed concern over India's lack of transparency in its trade policy, as a result of which small and medium-sized enterprises have difficulties in investing and doing business in the country. "The US continues to be concerned about the lack of transparency in many aspects of India's trade policy," Michael Punke, US Ambassador to World Trade Organisation (WTO) said at the WTO Trade Policy Review (TPR) of...
07:48 AM, Sep 16, 2011
New Delhi: The Reserve Bank of India (RBI) might hike key interest rates at its policy review on Tuesday to tame inflation. The hike is likely to further dampen the demands for home and car loans which are already the lowest in recent months. The RBI on Monday gave strong hints of another hike - the 10th in the last 15 months - saying that high inflation requires further monetary...
07:36 AM, Jul 26, 2011
Mumbai: The Bombay Stock Exchange benchmark Sensex fell by over 51 points in opening trade on Monday as funds and retail investors locked in gains recorded in the previous session amid a weak trend on other Asian bourses over US debt worries. The cautious approach was adopted by market participants ahead of Sensex heavyweight RIL's Q1 results announcement and the RBI's monetary policy review on July 26 cast a shadow...
09:47 AM, Jul 25, 2011
Perth: England's cricket team arrived Down Under on Saturday for a five-match Ashes tour with its captain Andrew Strauss taking a cautious approach to the opposition. Strauss said England would not target any members of the Australian team, including struggling captain Ricky Ponting, when the series begins with the first test Nov. 25 in Brisbane. England holds the Ashes after a 2-1 series win in England last year. I don't...
08:49 AM, Oct 30, 2007
