The Reserve Bank of India (RBI) and the government have reached an agreement which incorporates all the “necessary requirements of a good monetary policy committee”, governor Raghuram Rajan said in an interaction with financial newspapers after the monetary policy review on Tuesday.
The benchmark BSE Sensex rose sharply over 213 points in early trade on Wednesday powered by capital inflows by foreign funds and buying by retail investors amid a strong Asian trend.
The rupee fell by 19 paise to Rs 63.93 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange due to rise in the greenback against other currencies overseas buoyed by a possible US Fed rate hike.
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.
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.
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.