In the Essar Steel vs RBI case last week, apparently RBI and the banks won. The Gujarat High Court allowed banks to take Essar Steel to the Bankruptcy Court.
In the previous week, the reserves had marginally declined by USD 161.9 million to USD 386.377 billion.
Retail inflation has seen a sharp slowdown in June while May industrial output has come in at 1.7 percent. In an interview to CNBC-TV18, Amandeep Chopra, Group President and Head of Fixed Income at UTI MF assesses the impact on the bond market.
Initiatives like GST and continuing political stability will push the economic growth scale to 7.3 percent in terms of gross value added in the current fiscal year, RBI said.
RBI will remain open on July 1 for services such as transfer of funds through National Electronic Fund Transfer and real time gross settlement.
The Reserve Bank of India (RBI) has finalised norms for peer-to-peer (P2P) lending platforms and is expected to release final guidelines in 2-3 weeks, a top finance ministry official said.
RBI Governor usually meets Finance Minister before the monetary policy review.
The government's note ban move had a debilitating impact on India's economy, the industry has said.
Finance ministry officials are scheduled to meet panel headed by RBI Governor Urjit Patel this week, ahead of the bi-monthly policy review.
Reserve Bank will soon come out with final guidelines on customer protection which would limit customers liability in case of unauthorised electronic banking transactions, said RBI deputy governor SS Mundra.
The government has notified an ordinance aimed at launching an assault on India's near Rs 10 lakh crore bad loan burden. However, the ordinance is not the only big headline on the non-performing asset (NPA) front. Joint Lender Forums (JLF) have also got more teeth now. Reserve Bank of India (RBI) has issued a notification easing the norms for decision making by lender forums. Watch Latha Venkatesh of CNBC-TV18 explaining the details.
"We are not expecting any action on the rates from RBI, but there is a very strong case for RBI to at least address excess liquidity in the system", Amandeep Chopra, Group President and Head of Fixed Income at UTI MF told CNBC-TV18.
Main focus of the monetary policy is on liquidity and further action depends on whether RBI thinks liquidity is permanent or transitory, Sonal Varma, MD & Chief India Economist at Nomura Financial Advisory & Securities (India) said.
The Yogi Adityanath-led BJP government is keen on implementing its electoral promise of farm loan waivers in Uttar Pradesh, which could cost the state exchequer anywhere between Rs 27,000 crore and Rs 36,000 crore.
It is unlikely that there will be rate hikes in a hurry because the focus is also on getting growth back, Uday Kotak, Managing Director, Kotak Mahindra Bank.
The Intelligence Bureau (IB) is keeping a close vigil on as many as 500 bank branches across the country, following reports of rampant money laundering with the connivance of bank officials, reports CNBC-TV18, quoting sources.
"So, we want them in the lending market at the earliest and in the next year after having cleaned up their books of any stressed asset," Rai told PTI, stressing the urgency to revive the infrastructure financing by public sector banks as the momentum of trillion-dollar development picks up in India.
The subscription, which started yesterday will be open till July 22, is aimed at attracting large number of investors so as to curb demand for physical gold that is imported in large quantities draining the country's foreign exchange.
Biggest risk to the market is lack of FII inflows because post Brexit, there could be leadership changes in the UK which could lead to a risk-off, especially for emerging markets, so one must position oneself accordingly, says UR Bhat, Director, Dalton Capital Advisors.
Sushil Wadhwani, Founder and CEO, Wadhwani Asset Management warns that there is a possibility of significant European countries leaving the European Union.
With Reserve Bank of India (RBI) Governor Raghuram Rajan unwilling to head the central bank for the second term, senior government officials say that State Bank of India (SBI) Chairperson Arundhati Bhattacharya is the frontrunner among the six contenders for the post.
Consumer price inflation, which the Reserve Bank of India (RBI) targets in setting interest rates, likely moved up to 5 percent last month from a provisional 4.83 percent in March, according to economists surveyed by Reuters.
It is now time to look at second-order derivative stocks and stocks/sectors that are not in focus, says N Jayakumar, President, Prime Securities.