Morgan Stanley has cut India's 2012 economic growth forecast to 6.3 per cent from prior 6.9 per cent; 2013 forecast to 6.8 per cent from 7.5 per cent. On a financial year basis, Morgan Stanley expects FY13 growth at 6.3 per cent and FY14 growth at 6.9 per cent. "Bad" growth mix - a combination of high national deficit and an expansionary policy of supporting consumption while private investment slows...
03:11 PM, May 21, 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: After three years and 13 consecutive rate hikes, the RBI has finally reversed the gear. In a surprise move, the RBI cut the repo rate - at which it lends to banks - by half a per cent. It is a strong signal to banks to cut interest rates on loans. Deepak Parekh said, "RBI has bitten the bullet." The banks admit the signal can't be ignored -...
08:59 PM, Apr 17, 2012
Bangalore: Planning Commission Deputy Chairman Montek Singh Ahluwalia on Tuesday said RBI reducing lending rates along with government efforts to bring down fiscal deficit should boost economic growth this year. "I think the lowering of the interest rate by the RBI combined with Finance Minister Pranab Mukherjee's endeavours to bring the fiscal deficit down, should propel the economy upwards this year," he told reporters on the sidelines of a government...
05:26 PM, Apr 17, 2012
Mumbai: State Bank of India, the country's largest lender, will cut lending rates on loans that have high interest rates, Chairman Pratip Chaudhuri said on Tuesday. Earlier in the day, the Reserve Bank of India cut its repo rate for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth. But it also warned that there is limited scope...
03:55 PM, Apr 17, 2012
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. ...
01:46 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
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. Tuesday's rate cut announced by the RBI in its annual...
11:14 AM, Apr 17, 2012
Mumbai: The BSE Sensex rallied more than 200 points on Tuesday, reacting to the surprised repo rate cut of 50 basis points by the RBI and positive European markets ahead of Spain auction treasury bills. The rally was majorly led by metals, PSUs, capital goods, FMCG, telecom and power stocks, but not wholly by banks. However, oil & gas producers Reliance Industries and Cairn India stayed under pressure ahead of...
09:54 AM, Apr 17, 2012
New Delhi: Home and car loans may get cheaper as the Reserve Bank of India (RBI) signalled a possible interest rate cut to boost economy at its annual credit policy on Tuesday. The government said on Monday that inflation had slightly eased in March, a day before what is forecast to be the first interest rate cut in three years, but a cautious tone from the Reserve Bank of India...
07:46 AM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) has left key policy rates untouched on Thursday mainly on the back of high fiscal deficit and rising crude oil prices. The central bank has not cut rates for more than two years. In this period, the repo rate, which is the rate at which banks borrow money from RBI, has gone up by 3.5 per cent to 8.5 per cent. The Reserve...
11:19 AM, Mar 15, 2012
The Reserve Bank of India (RBI) is widely expected to hold interest rates steady at its policy review on Thursday ahead of the Budget, a new Reuters poll found, which showed expectations for a start to the rate cut cycle have been pushed back since January. The RBI will leave its key repo rate unchanged at 8.5 per cent, 17 of 20 analysts polled by Reuters said. In a January...
07:47 PM, Mar 12, 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
New Delhi: The Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) by 50 bps to 5.50 per cent which will be effective from January 28 and held repo rate steady at 8.5 per cent. The move will eases tight liquidity in the banking system and underscore a policy shift from fighting inflation to reviving growth. The CRR cut will infuse Rs 32,000 crore into banks. The reverse...
11:09 AM, Jan 24, 2012
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