Tag: RBI
-
Demonetization ‘butchered’ Indian economy: Shiv Sena
Mumbai : The Shiv Sena on Friday again attacked the BJP for demonetizing Rs 500 and Rs 1,000 bank notes in 2016, calling it a “butchering of the Indian economy” which it said even the Reserve Bank Of India (RBI) had conceded. The hasty and ill-advised move was not ‘patriotic’ but created “economic anarchy” in…
-
Nullifying non-deposited currency was not the only aim: Jaitley on demonetisation
New Delhi : A day after the RBI revealed that 99.3 per cent of the demonetised currency was returned to the banks, Finance Minister Arun Jaitley on Thursday said the invalidation of the non-deposited currency was not the only objective of the noteban. Jaitley said the larger purpose of the demonetisation was to remove the…
-
Rs 10,700-cr demonetised notes did not return to banks
Mumbai : The amount of banned currency notes that did not return to the system post demonetisation stands at Rs 10,700 crore, or 0.7 per cent of the old lot of notes, an RBI data showed on Wednesday. This amount has been arrived at based on the Reserve Bank of India (RBI) annual report for…
-
Lower food prices cool India’s July retail inflation to 4.17%
New Delhi : Lower food prices eased India’s July retail inflation to 4.17 per cent from 4.92 per cent in June, even as it continued to rule over the Reserve Bank of India (RBI)’s medium-term inflation target of 4 per cent, official data showed on Monday. However, on a year-on-year (YoY) basis, the Consumer Price…
-
RBI hikes key lending rate by 25 basis points to 6.5%
Mumbai : The Reserve Bank of India (RBI) on Wednesday raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19. “On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided…
-
Situation will improve from next year, bad-debt banks tell parliamentary panel
New Delhi : Representatives from the 11 public sector banks, which are under RBI scanner for mounting bad loans on Tuesday, assured a parliamentary panel that “things would start looking up from next year” and by 2020, they would be able to come out of the austerity regime imposed by the central bank on them,…
-
Shiv Sena demands action against RBI Governor
Mumbai : The Shiv Sena pounced on the Bharatiya Janata Party (BJP) on Saturday, seeking to know “what action the (current) Finance Minister Piyush Goyal has taken against the RBI governor and chiefs of banks” which have been defrauded by big industrialists who have fled the country. “How many bank chairmen who gave fraudulent loans…
-
RBI rate hike boosts key Indian equity indices (Market Review)
By Rituraj Baruah, Mumbai : The Reserve Bank of India’s (RBI) decision to hike the repo rate by 25 basis points boosted the investor sentiments, which in turn lifted the key equity indices during the week ended on Friday. Weak global cues and depreciation in the rupee, however, weighed on the indices and limited the…
-
RBI hikes repo rate by 25 bps to 6.25% on inflation fears
Mumbai : Following a cycle of rate cuts begun in January 2015, the RBI on Wednesday raised its key interest rate for the first time by 25 basis points (bps) to 6.25 per cent, responding to concerns on inflation from surging global crude oil prices, as per a central bank announcement. The Reserve Bank of…
-
RBI’s policy review, macro-data depress equity indices
Mumbai : Caution ahead of the RBI’s monetary policy review, along with negative macro-economic data point, depressed the key Indian equity indices on Tuesday. According to market observers, heavy selling pressure was witnessed in the capital goods, consumer durables and IT stocks. Index-wise, the broader Nifty50 of the National Stock Exchange (NSE) closed at 10,593.15…