The Reserve Bank of India (RBI) on Tuesday kept its lending rate—the repo rate—unchanged at 7.25%, ignoring a chorus of calls from government officials and business leaders for cheaper loans to aid investment and household spending.
Bharti Airtel Ltd, posted a 40% rise in quarterly net profit, helped by a one-time gain from the divestment of some of its tower assets in Africa.
Call drops could soon reduce, with the Cabinet likely to approve the guidelines for spectrum sharing and trading on Wednesday. Operators may be required to pay a one-time fee for both, sources said.
Taiwan’s billionaire businessman and Foxconn founder Terry Gou and his 30-member delegation met Union communications minister Ravi Shankar Prasad and secretaries of six ministries on Tuesday to thrash out an investment proposal that sources said could be worth $20 billion (`12,800 crore).
Continued impasse in Parliament is delaying passage of key bills like GST which are crucial for economic growth, industry body CII said on Tuesday.
Reserve Bank of India (RBI) governor Raghuram Rajan on Tuesday hinted that the central bank may cut interest rates before the next policy announcement on September 29, depending upon macroeconomic indicators.
The Reserve Bank of India (RBI) kept its key policy rate unchanged on Tuesday, citing inflationary concerns even as it expected banks to pass on the benefit of the previous rate cuts to borrowers.
Toyota on Tuesday said its net profit for the three months to June jumped 10% from a year ago, giving a boost to its annual sales forecast and crediting a weak yen and cost cuts.
State Bank of India (SBI) on Tuesday ruled out any interest rate cut for its borrowers, even as the RBI chided banks for not having passed the full benefits of the last three reduction in its policy rate.
The Reserve Bank of India and the government have broadly agreed on the powers of the monetary policy committee, clearing the air on an issue that has generated much attention and speculation recently.
Oil prices rose slightly in early Asian trading on Tuesday after a sharp 5% drop in the previous session, as high global production and a weakening economic outlook prompted analysts to warn of further falls.
The Reserve Bank of India (RBI) is set to issue the first set of differential bank licences - for small finance and payments banks - by the end of August, a move aimed at promoting financial inclusion.
In highly volatile trade, the 30-share BSE index after rising to touch the day's of 28,264.72 points in early trade, quickly slipped into the negative terrain and dipped below the 28,000-mark to touch a low of 27,866.12 before the RBI policy announcement.
The value of the rupee fell by 5 paise to 64.09 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange due to appreciation of the American currency overseas.
Former Goldman Sachs director Rajat Gupta seems to have accepted his incarceration as his destiny and washed dishes at the prison cafeteria briefly, in a first account of his life in prison.