Robust capital expenditure by the government and improvement in business confidence will push the country’s economic growth in 2024-25, an official said on Tuesday. Chief Economic Adviser in the Ministry of Rural Development Kuntal Sensarma said that the focus areas in 2024-25 should be infrastructure growth, inclusive development and harnessing demographic dividend, among others. “The … Read more
When it comes to parking one’s hard-earned money into safe investment tools, fixed deposit schemes are still the most chased ones looking at the volatility in the market. As the Reserve Bank of India kept the repo rate at the same level, many banks have tweaked their fixed deposit rates to attract customers. In the … Read more
Mumbai: The Monetary Policy Committee has not officially raised interest rates for a year, but its novel stance of “focussing on withdrawal of accommodation” has led to much tighter financial conditions than the traditional rate hike stance of “calibrated tightening”, effectively delivering a rate hike without touching the policy rate. An analysis of the weighted … Read more
Mumbai: RBI is likely to keep interest rates unchanged after its monetary policy review this week as it battles inflation, said respondents in an ET poll, but some of them said a fiscally prudent interim budget and signs of global monetary easing may prompt the central bank to soften its communication on tight liquidity conditions … Read more
The National Payments Corporation of India (NPCI) has asked its members to comply with the Reserve Bank of India’s (RBI’s) decision to increase the UPI transaction limit to Rs 5 lakh for hospitals and educational services by January 10. The NPCI has instructed banks, payment service providers (PSPs), and UPI applications to increase transaction limits … Read more
In the recently concluded meeting of the Monetary Policy Committee, chaired by Reserve Bank of India Governor Shaktikanta Das, the panel unanimously decided to keep the repo rate- the key lending rate- unchanged at 6.5 per cent for the fourth time in a row, also leaving its policy stance unchanged with focus on withdrawal of … Read more
Piyush Goyal, Minister of Commerce and Industry, at the CII AGM in New Delhi. India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and Industry Minister Piyush Goyal said on May 24. India’s … Read more
The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. Financial markets expect the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5%, its … Read more
India’s annual retail inflation for March eased below the central bank‘s upper tolerance level for the first time this year, as food prices softened. Annual retail inflation eased to 5.66% in March from 6.44% in the previous month, government data showed on Wednesday. The Reserve Bank of India targets a range of 2%-6%. A Reuters … Read more
The Reserve Bank of India is likely to announce another rate hike on Thursday, following the bi-monthly review of its monetary policy. RBI Governor Shaktikanta Das is set to address the press at noon tomorrow, with the Monetary Policy Committee having met on April 3 and April 5, with one more day of deliberation set … Read more