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Waning popularity: PM Modi under fire as rising costs put squeeze on 'middle India'

Mar 23, 2016 at 05:30 | Source: FirstPost

Mumbai/New Delhi -Sharp rises in education and healthcare costs in the last two years have hit India's burgeoning middle class hard, denting Prime Minister Narendra Modi's popularity among the relatively well-off ahead of a series of state elections....

RBI spotted intervening after rupee falls - traders| Reuters

Mar 23, 2016 at 01:30 | Source: FirstPost

MUMBAI The Reserve Bank of India (RBI) likely sold dollars through state-owned banks in a bid to prevent sharper falls in the rupee after reports of explosions at the Brussels airport hit global markets, three currency traders said on Tuesday.The tra...

India Posts payments bank to launch by March 2017: Prasad

Mar 22, 2016 at 15:59 | Source: FirstPost

New Delhi: Payments bank of Department of Posts is likely to become operational by March 2017, Communications and IT Minister Ravi Shankar Prasad said today."Very soon by March next year we are going to bring in payments bank of the Postal depar...

Govt cutting PPF, small savings rates is good; now it's RBI's turn

Mar 21, 2016 at 07:03 | Source: FirstPost

The Narendra Modi government has cut the interest rates on offer on the public provident fund(PPF) and other small savings schemes run by the post office.The new interest rates will come into play from April 1, 2016 and will be in effect until June 3...

#EPFredux? Political, public outrage as NDA govt cuts PPF, NSS, saving scheme rates

Mar 19, 2016 at 11:17 | Source: FirstPost

New Delhi: In a decision that evoked immediate uproar by the salaried and self-employed class, the government on Friday slashed the interest rates on public provident fund (PPF) from 8.7 percent to 8.1 percent, soon after retracting the unpopular pro...

Interest rate cut on PPF, small savings schemes shocks India's salaried class, Twitter erupts

Mar 19, 2016 at 01:37 | Source: FirstPost

New Delhi: In a decision that evoked immediate uproar by the salaried and self-employed class, the government on Friday slashed the interest rates on public provident fund (PPF) from 8.7 percent to 8.1 percent, soon after retracting the unpopular pro...

The ticking NPA clock: How many crores in bad loans are weighing on Indian banks' balance sheets?

Mar 17, 2016 at 16:06 | Source: FirstPost

Mounting bad loans on the books of Indian banks, especially state-run lenders, is a major concern of the Reserve Bank of India (RBI) and the policymakers at government. At last count (as on 31 December 2015), the total gross non-performing assets (GN...

SC-appointed SIT to monitor probe into alleged rice export scam

Mar 14, 2016 at 15:23 | Source: FirstPost

New Delhi: The Supreme Court-appointed Special Investigation Team (SIT) on black money will monitor the probe into the alleged over Rs 1,000-crore scam in export of high-quality Basmati rice to Iran which was fraudulently diverted mid-sea to Dubai.Th...

February retail inflation seen easing to 5.6% vs 5.69% in January; raises rate cut hopes

Mar 14, 2016 at 08:33 | Source: FirstPost

India's retail inflation is expected to have eased in February helped by falls in prices of some food items, after edging up for six straight months, raising expectations of a central bank rate cut next month.Analysts say Raghuram Rajan, Governor of ...

IMF's Lagarde supports unconventional monetary policies if accompanied by reforms| Reuters

Mar 13, 2016 at 15:15 | Source: FirstPost

NEW DELHI The head of the International Monetary Fund said on Sunday countries should continue with unconventional monetary policies if they were accompanied by structural reforms and low inflation.Christine Lagarde's comments came a day after the Re...

RBI Gov Rajan wants global rules of conduct for central banks| Reuters

Mar 12, 2016 at 22:15 | Source: FirstPost

NEW DELHI/MUMBAI Reserve Bank of India governor Raghuram Rajan called on Saturday for global central banks to adopt a system for assessing the wider impact of their actions, including unconventional monetary policies now in use. Rajan proposed that a...

India RBI Gov Rajan wants global rules of conduct for central banks| Reuters

Mar 12, 2016 at 19:45 | Source: FirstPost

NEW DELHI/MUMBAI Reserve Bank of India governor Raghuram Rajan called on Saturday for global central banks to adopt a system for assessing the wider impact of their actions, including unconventional monetary policies now in use. Rajan proposed that a...

India RBI Governor Rajan wants global rules of conduct for central banks| Reuters

Mar 12, 2016 at 18:45 | Source: FirstPost

NEW DELHI/MUMBAI Reserve Bank of India governor Raghuram Rajan called on Saturday for global central banks to adopt a system for assessing the wider impact of their actions, including unconventional monetary policies now in use. At an International M...

The ticking NPA clock: What is the cost of the surging bad loans pile on Indian banks balance sheets?

Mar 12, 2016 at 10:32 | Source: FirstPost

Mounting bad loans on the books of Indian banks, especially state-run lenders, is a major concern of the Reserve Bank of India (RBI) and the policymakers at government. At last count (as on 31 December 2015), the total gross non-performing assets (GN...

India approves $700 million forex swap with Sri Lanka until IMF loan relief| Reuters

Mar 12, 2016 at 00:30 | Source: FirstPost

COLOMBO India has approved a $700 million currency swap of dollars for Sri Lankan rupees until the island nation receives an International Monetary Fund loan, the Indian government said on Friday.Sri Lanka is facing a balance-of-payments crisis after...

The ticking NPA clock: What is the cost of the escalating bad loans pile on Indian banks balance sheets?

Mar 11, 2016 at 16:18 | Source: FirstPost

Mounting bad loans on the books of Indian banks, especially state-run lenders, is a major concern of the Reserve Bank of India (RBI) and the policymakers at government. At last count (as on 31 December 2015), the total gross non-performing assets (GN...

RBI orders probe into alleged frauds commited to meet farmer loan targets

Mar 11, 2016 at 14:03 | Source: FirstPost

Nagpur:Following a detailed memorandum listing the alleged bank frauds, the Reserve Bank of India (RBI) has ordered a probe into allegations of irregularities committed by public, private and foreign banks to claim achievements of targets in lending ...

Mallya was in RS on 1 March, he left on 2nd: Here are the pores in sytem that let him go

Mar 10, 2016 at 14:44 | Source: FirstPost

The Vijay Mallya episode proves once again that our system takes a soft approach towards the cronies.A look at the sequence of events over the last few days shows that Mallya was not even playing a catch-me-if-you-can game with the government, banks,...

Mallya was in RS on 1 March, he left on 2nd: Here are the pores in sytem that let him off

Mar 10, 2016 at 13:37 | Source: FirstPost

The Vijay Mallya episode proves once again that our system takes a soft approach towards the cronies.A look at the sequence of events over the last few days shows that Mallya was not even playing a catch-me-if-you-can game with the government, banks,...

India inflation seen cooling in February, gives RBI easing room| Reuters

Mar 10, 2016 at 05:15 | Source: FirstPost

BENGALURU Indian inflation was expected to cool in February as food prices rose more slowly, a Reuters poll found, which could strengthen calls for more monetary policy easing.The Reserve Bank of India (RBI) has not changed its key interest rate sinc...

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