Economy

Mumbai | May 03, 2013 23:58 (IST)

Reserve Bank of India governor D Subbarao said on Friday that banks will "certainly" cut interest rates in the next three-six months even as he asserted there is "less space" for further softening of key policy rates.

Washington | May 03, 2013 18:33 (IST)

US employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than the government first estimated.

May 03, 2013 17:02 (IST)

"We feel the outlook (on India) is stable. We do not see ratings movement up or down in the next 12-18 months," Moody's Sovereign Ratings VP and lead analyst (India) Atsi Sheth said on the sidelines of the ADB annual meet.

New Delhi | May 03, 2013 16:51 (IST)

Welcoming the 0.25 per cent by the Reserve Bank of India in its monetary policy review on Friday, the real estate sector said there is a need for further reduction so that the interest cost to builders and home buyers falls considerably.

Mumbai | May 03, 2013 16:28 (IST)

The Reserve Bank of India said in its annual monetary policy review on Friday that it expects inflation to be range-bound around 5.5 per cent during the current fiscal year.

Mumbai | May 03, 2013 16:20 (IST)

CAD, which is the difference between the inflow and outflow of foreign currency, had touched a record high of 6.7 per cent in the December quarter of last fiscal year. The CAD in 2012-13 fiscal is likely to be around 5 per cent of the gross domestic product (GDP).

May 03, 2013 16:17 (IST)

Chief Economic Advisor Raghuram Rajan today said the government is examining all possibility of raising foreign direct investment ceiling in various sectors to help increase inflows and prop up economic growth.

Mumbai | May 03, 2013 16:08 (IST)

"With a view to reducing demand for gold for domestic use, it has been decided to restrict gold import on consignment basis by banks only to meet the genuine needs of exporters of gold jewellery," RBI said in its annual monetary policy review for 2013-14.

May 03, 2013 15:14 (IST)

The Reserve Bank has projected the Indian economy to grow at 5.7 per cent in the current fiscal, which is much lower than the government estimation of 6.1-6.7 per cent.

May 03, 2013 14:28 (IST)

Accepting Reserve Bank's stance on policy rate for what it is, Finance Minister P Chidambaram today expressed hope that declining inflation would increase the scope for rate cut by the central bank.

May 03, 2013 13:49 (IST)

The Reserve Bank of India cut its key repo rate the rate at which the RBI lends shot-term money to banks against securities -- by 0.25 per cent on Friday, the third time since January, but the central bank's decision is unlikely to provide any respite to consumers reeling under the burden of high equated monthly installments (EMIs). Interest rates on fresh retail loans are also unlikely to come down.

New Delhi | May 03, 2013 13:12 (IST)

The Reserve Bank is clearly more pessimistic than the government is. I think that the government forecast as of now is feasible, Ahluwalia said.

New Delhi | May 03, 2013 12:51 (IST)

"It is a measured response to the current economic situation. WPI inflation has shown signs of decline and the retail inflation still remains at a high level, CAD is also high," Rangarajan said.

Mumbai | May 03, 2013 12:24 (IST)

Reverse repo rate falls to 6.25 per cent

Mumbai, India | May 03, 2013 11:40 (IST)

The RBI warned that the risk of inflationary pressure persists despite a recent sharp decline in wholesale price index inflation, and said a high current account deficit poses the biggest risk "by far" to the Indian economy.

Mumbai | May 03, 2013 11:25 (IST)

The RBI trimmed the repo rate to 7.25 per cent, its lowest since May 2011, and kept the cash reserve ratio (CRR) for banks unchanged at 4 per cent, also in line with expectations.

Mumbai, India | May 03, 2013 08:56 (IST)

Investors will pay close attention to whether there is a softening in Subbarao's tone at Friday's policy review, as they look for clues on the chances for more rate cuts in coming months.

New Delhi | May 03, 2013 01:46 (IST)

Faced with declining growth, the Reserve Bank of India is likely to cut repo rate and cash reserve ratio (CRR) by about 0.25 per cent each to spur demand and boost industrial output.

Mumbai, India | May 03, 2013 01:46 (IST)

The Reserve Bank of India may sweeten its expected 25 basis point interest rate cut on Friday with a similar reduction in the cash reserve ratio to ease tight market liquidity conditions as increasingly benign inflation gives it room to manoeuvre.

May 02, 2013 23:44 (IST)

Describing banking business as "difficult and cumbersome" process, newly elected chief of Asian Development Bank (ADB) Takehiko Nakao today said setting up of the proposed BRICS Bank would not be easy.