The core Consumer Price Index (CPI) based inflation, adjusted for house rent allowance is moderating, and the HRA impact (post 7th Pay Commission), is largely "statistical", it said.
Finance Minister Arun Jaitley yesterday announced that Rs 2.11 lakh crore would be infused in PSU banks over two years, of which Rs 1.35 lakh crore will be through recapitalisation bonds. The remaining Rs 76,000 crore would be from the budgetary support and market raising.
Consumer inflation is forecast to have risen to 3.60 percent in September from a year ago, above August's 3.36 percent, the poll of 36 economists showed.
Six NGOs registered with the Depositor Education and Awareness Fund -- CRISIL Foundation, Dhan Foundation, Swadhaar Fin Access, Indian School of Micro Finance for Women (ISMW), Samarpit and the PACE Foundation -- have been selected to execute the pilot project in collaboration with banks.
The investment limit for Foreign Institutional Investors (FIIs)/Foreign Portfolios Investors (FPIs) in Parag Milk Foods has increased from 24 per cent to 40 per cent of its paid up capital.
Limits for investment by FPIs for the December quarter have been increased by Rs 8,000 crore in Central government securities and by Rs 6,200 crore in state development loans, the central bank said in a notification.
Retail inflation rose to a five-month high of 3.36 per cent in August from 2.36 per cent in July. August inflation number was the highest since March 2017, when it was recorded at 3.89 per cent.
According to the Japanese financial services major, further easing in policy rates is unlikely as momentum of core inflation has been much higher than expected and because the growth slowdown is due to non-monetary factors.
The fiat cryptocurrency is a digital currency which will be issued by the Reserve Bank of India (RBI) in place of the physical one at present, he said, adding that the central bank is studying this aspect at present.
The company has passed a resolution that has mandated the hike in limit of investment from foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) to 50 per cent, from the 24 per cent earlier.
The report said the rupee is expected to reach Rs 66.75/USD level by December. According to BofAML, the RBI has bought about USD 16 billion in the spot market since April.
The government has given the go-ahead to the RBI to issue Rs 200 notes, a move that is aimed at easing the pressure on lower-denomination currency.
Economic activity in the country, which had lost some momentum in the run up to the Goods and Services Tax (GST) rollout, has started to recover, according to Nomura.
Industrial output growth stood at 1.7 per cent in May. Before the implementation of Goods and Services Tax (GST), destocking was triggered largely owing to a steep fall in demand from consumers as they delayed purchases on expectation of getting better price post the new indirect tax regime, the report said.
It took nearly two years for the Indian rupee to finally break the psychological 64 level. The rupee has been one of the strongest currencies in the world in 2017.
According to the global financial services major, inflation in India has fallen dramatically, and though the excessively low level it witnessed this fiscal is not sustainable, the rebound may not be too sharp either.
Raising the issue during Zero Hour, Anand Sharma (Cong) said "even a child is delivered in nine months" but the country doesn't know how many of the old and junked currency notes were returned.
The boards of both the companies have passed resolutions to hike the limit of foreign investment to up to 74 per cent, RBI said.
As of March 31, 2016, the bank had reported gross non- performing assets (NPAs) or bad loans to the tune of Rs 24,875.07 crore, according to the bank's annual report for 2016-17.
The central bank had purchased USD 7.020 billion and sold USD 2.014 billion in the spot market in May. In April, it was a net purchaser of USD 566 million after it bought USD 1.751 billion and sold USD 1.185 billion in the spot market.
The decision to introduce Rs. 200 notes was taken by the RBI with the consultation of Finance Ministry in March, reports said. A may be issued by the Reserve Bank of India regarding a new note.
According to Bank of America Merrill Lynch (BofAML), an August rate cut will signal banks to go for lowering lending rate before the busy industrial season begins in October.
The central bank said late on Friday it will sell 100 billion rupees ($1.55 billion) of government bonds on Thursday.
According to global financial services major HSBC, the minutes of the MPC meeting held earlier in June show that the members are more flexible in their outlook and ready to be convinced by lower inflation prints over the next few months.
After the RBI on Tuesday identified 12 NPAs, which can be taken up under the Insolvency and Bankruptcy Code, bankers now await word on easier provisioning norms.