The Reserve Bank of India on Monday said its balance sheet rose by 12.3 per cent to Rs 32,43,011 crore for the year ended June 30.
Revised tax treaty with Mauritius, which allows India to tax capital gains on investments routed through the island nation, will tackle round tripping of funds and curb tax evasion, the Finance Ministry said on Monday.
The Reserve Bank of India's outgoing governor Raghuram Rajan on Monday said the policy rate can be cut only if inflation eases, as "inflation projections are still at the upper limits" of the central bank's target.
The Reserve Bank of India's monetary policy is likely to stay broadly unchanged when Urjit Patel takes over as governor of the central bank, according to a Reuters poll, but his approach to cleaning up public banks' bad debts could be less stringent.
Veteran industrialist Adi Godrej on Monday cautioned against high tax rates under the Goods and Services Tax (GST), as he praised the Narendra Modi government for being reform-oriented and bringing down corruption and crony capitalism.
India's economic growth likely lost some momentum in the April-June quarter on cutbacks in domestic and global demand, a Reuters poll showed.
Jaitley drove home the point that many Indian states are growing at 10-11 per cent and offer opportunity for US investment.
HDFC chairman Deepak Parekh on Monday said India's economy is in a "stronger position" and demonstrating an immense growth potential with a strong leadership at the helm bringing in key reforms.
Positioned as a major investment destination to the world, India is targeting to increase its bilateral trade with the US to $500 billion from current levels of over $100 billion, in the near term.
Federal Reserve policymakers are signaling they could raise US interest rates soon but they are already weighing new tools they may need to fight the next recession.
Bullish on expanding economic ties with India, the US on Sunday said bilateral trade has reached $109 billion and it will get a further boost from new reforms including Goods and Services Tax (GST) even as it flagged persisting concerns American firms have on issues related to business climate in the fast-growing economy.
Financial services major Goldman Sachs has marginally revised upwards its forecast on Consumer Price Index-based inflation in India to 5.5 per cent for the fiscal year citing higher food prices but said the upside risks are limited due to delay in rollout of the pay commission award.
Ahead of Urjit Patel taking over as the new governor of the Reserve Bank of India, central bank employee unions have appealed to Parliament members and state finance ministers to prevent the proposed Public Debt Management Agency (PDMA), saying that moving the function will cost the government dearly.
The impact of the Narendra Modi government's reforms is beginning to be felt now, taking India closer to eight per cent growth this fiscal, a top finance ministry official said.
Outgoing RBI Governor Raghuram Rajan on Friday rejected granting any leeway in norms for activities of 'national importance' like funding of infrastructure, saying that the Reserve Bank cannot compromise systemic stability and government should "subsidise" such works.
Federal Reserve Chair Janet Yellen said that the case for raising interest rates has strengthened in light of a solid job market and an improved outlook for the U.S. economy and inflation. But she stopped short of offering any timetable.
Ind-Ra said it expects higher-rated corporates to directly benefit in the short term, but the investment norms for most investor classes will require changes to move down the credit curve.
Reserve Bank's guidelines on corporate bond issuance will enhance liquidity and are credit positive, Moody's Investors Service said on Friday.