RBI reduced the repo rate by 0.25 per cent to 6 per cent earlier this month, citing reduction in inflation risk. The rate cut was the first in 10 months and brought policy rates to near 7-year low.
According to the Japanese financial services major, the MPC minutes suggest low inflation and growth concerns led to policy easing earlier this month, and going ahead the RBI is expected to stay on hold.
Customers with savings bank account balance of Rs 5 million ($77,924.10) and above will continue to earn interest at 4 percent per annum, the lender said in a statement.
The note comes two days after data showed that headline consumer price inflation almost doubled to 2.36 percent for July from 1.54 percent in the previous month.
The note comes two days after data showed that headline consumer price inflation (CPI) almost doubled to 2.36 per cent for July from 1.54 per cent in the previous month, and a day after the wholesale price inflation also shot up to 1.54 per cent from being negative in the previous month.
The relaxation will be subject to certain conditions, including shareholders' approval of the stake acquisition by way of special resolution.
Subbarao was speaking at a meeting jointly organised last night by the Rotary Clubs of Hyderabad and the Federation of Telangana and Andhra Pradesh Chamber of Commerce and Industry (FTAPCCI).
"Given the trend and outlook for inflation, we see clear space for a more accommodative stance in the monetary policy. This is all the more important given the state of industrial sector where growth is anaemic.
Can the government’s ambitious disinvestment programme not only reach its target but also make up for lower RBI dividend? A look at the status of proceeds.
The consumer price index, the main policy target of the Reserve Bank of India (RBI), likely rose 1.87 percent in July from a year earlier, according to a Reuters poll of economists, compared with an increase of 1.54 percent in June.
Authorities worried about the possibility of international rackets getting access to the same source from where India imports materials for currency printing .
The central bank further said the currency printing presses are equipped with state-of-the-art machinery, documented systems and technically qualified personnel through which quality control is ensured at each stage of banknote production.
Tri-party repo is a type of repo agreement where a third entity acts as an intermediary between two parties
Policy repo rate cut in October 2016 by 25 bps led to a fall in the base lending rate of banks by only 5 bps and that too after a lag of a quarter but term deposit rates were cut by 50 bps in the same month
The Centre had budgeted Rs 58,000 crore as dividend from the RBI this year
Repo rate still above 25-75 bps above neutral; farm loan waivers to cut overall demand by 0.7 pc
Foreign investments into debt and shares have reached a net $31 billion this year, compared with $2.7 billion in sales last year, due to factors including India's low inflation and improving economic growth.
The consumer price index likely rose 1.87 percent last month, after dipping to an historic low of 1.54 percent in June, according to the median forecast of nearly 30 economists.
Insurance brokers are of the opinion that insurers are themselves hesitant to provide a cover for insolvency professionals as they are individuals
The chapter on `Currency Management’ may include details of banned notes
The Competition Commission of India (CCI), in May, received a complaint alleging cartelisation among banks in respect of providing locker services to customers. "The case has been registered... arraigning 20 banks, including RBI, as opposite parties," the minister said.
Here's a list of some jargons that can help you understand finances of banks better
The Chennai-based lender is also targeting to improve its net interest margin to 3 per cent from 2.79 per cent now.
One of the major factors cited by BofAML for possible reduction in lending rates is high level of liquidity in banks
The special drawing rights with the International Monetary Fund (IMF) went up by USD 3.9 million to USD 1.495 billion.