The country's largest lender State Bank of India on Friday hiked lending and deposit rates on select maturities by 0.25 percentage points in response to policy rate hike announced by Reserve Bank last month.
India's annual industrial output in December rose at its slowest pace in 20 months on a higher base last year and stretched capacities at factories, but the Reserve Bank will likely continue tightening monetary policy to tame high headline inflation.
Currently, the biggest task in the hands of government is to control food inflation. In such a scenario, in addition to measures taken by the RBI, some concrete steps by the Government is the need of the hour to remove the bottlenecks in the production and distribution of food items to address the core issue of managing food prices.
Industrial output in December rose a slower-than-expected 1.6% as against 2.7% in November.
The December IIP numbers have come inline with market expectations at 1.6% year on year, thus confirming a slowdown in the economy. However, CNBC-TV18 spoke to a couple of experts who said the slowdown is evident in the investment side but consumpttion has not seen any dip.
In a conversation with CNBC reporters, Vikram Pandit, CEO, Citigroup, speaks about wide ranging set of issues including growth and recovery in the US, the tax policy in the US and investing in emerging markets versus the developed world.
Noted argiculture scientist M S Swaminathan today said the current spike in food inflation is likely to persist for some time in urban India and described price rise as 'man-made'.
The government should be prepared for the implications of prolonged crisis in the Middle East, which would push up oil prices, the Reserve Bank of India's (RBI) governor said on Thursday.
The country's 9% growth story today came in for questioning from Environment Minister Jairam Ramesh who contended that if the impact on ecology had been taken into consideration, the growth would have been only around 6%.
The government should adopt a plan of fiscal consolidation in the coming financial year to April 2012 and beyond, the Reserve Bank of India governor Duvvuri Subbarao said on Thursday.
With Assembly polls just months away, the LDF Government in Kerala today presented a people-centric Budget with a focus to welfare measures, price-control programmes and infrastructure development.
A Prasanna, Chief Economist with ICICI Securities in an interview on CNBC-TV18 spoke about the inflation concerns and gave his view on where he sees the inflation number in the coming months.
In an interview with CNBC-TV18, Sandeep Runwal of Runwal Group, Niranjan Hiranandani, Hiranandani Group and Abhishek Kiran Gupta of Jones Lang Lasalle India, speak about the real estate and gives their outlook going forward.
India's food price index rose 13.07% and the fuel price index climbed 11.61% in the year to January 29, government data on Thursday showed.
HDFC Bank’s MD Aditya Puri is expecting a maximum 100 basis points hike in prime lending rates, reports CNBC-TV18.
US unemployment remains too high for policymakers' comfort despite signs of strength in the economic recovery, Federal Reserve Chairman Ben Bernanke said on Wednesday.
Buoyed by prospects of higher rice production this year, the government today decided to lift the three-year ban on exports by allowing shipment of 3 varieties of the non-basmati grain grown in four southern states.
India's industrial output growth probably slumped to 2% in December from a year earlier, mainly due to a high base a year ago, a median forecast in a Reuters poll showed.
Expressing concern over inflation which he saw remaining above comfort-level, Eskesen said that a lot of focus has been given to supply-side factors but there is a need to look at the demand-side as well, with demand-driven pressures being felt on food prices in H2 2010.
There's no consensus in sight, on the third draft of the goods and service tax (GST) constitutional amendment, reports CNBC-TV18’s quoting sources.
Reserve Bank of India governor Duvvuri Subbarao said on Tuesday that China keeping its currency low "hurts" India in some ways.
Cash conditions in the Indian banking system may improve substantially by the end of March as the government is unlikely to hold back on budgeted spending as the fiscal year nears its end, policymakers said.
There are no fears of contraction in India's industrial output growth as the manufacturing sector is doing well, Trade Minister Anand Sharma said on Tuesday.
Sunil Sanghai, MD and Head-Global Banking, HSBC India sees a lot of inbound M&A activity. “I think we have seen lot of interest by foreign companies looking at the Indian situation,” Sanghai adds. While there is a huge amount of interest, the volume would be still restricted due to regulatory impediments, he says.
India's current account deficit in the current fiscal year is likely to be at 3.5% of GDP, television channel NDTV Profit reported on Tuesday, citing the Reserve Bank of India chief