BUSINESS
Raghuram Rajan says economic achievements, not nationalism, must reunite India
Rajan and his fellow economist Rohit Lamba have called for making India a sustainable and inclusive $10 trillion economy by 2035 in what should not just be an economic target but also a cultural and political one.
BUSINESS
Failure this year, lower inflation next year – RBI thinking beyond 2022
The central bank's latest inflation forecasts show headline retail inflation will average more than 6 percent in all four quarters of 2022, which means it will fail to meet its inflation mandate.
BUSINESS
RBI Policy | FY23 GDP growth forecast retained at 7.2%, recovery seen gathering strength
RBI policy: Rising capacity utilisation levels in the manufacturing sector are expected to lead to greater investment activity in the coming months
BUSINESS
RBI Monetary Policy | MPC failure predicted as FY23 inflation forecast raised to 6.7%
RBI policy: While the central bank's inflation forecast for FY23 is 220 basis points higher than what it projected in February, it does not take into account the impact of the 50 bps repo rate hike announced today
BUSINESS
World Bank lowers India GDP forecast to 7.5% on rising inflation
The revised growth forecast for India is sharply lower from 8.7 percent the World Bank had predicted in January
BUSINESS
Interview | See terminal repo rate at 6% before MPC becomes data-dependent, says former committee member Mridul Saggar
Saggar, whose term with the rate-setting Monetary Policy Committee ended in April on his retirement from the Reserve Bank of India, said real interest rates need to become positive but the panel should not go "overboard" in tightening policy
BUSINESS
RBI may go for 40bps rate hike, huge upward revision in inflation forecast likely on June 8
Economists polled by Moneycontrol see the central bank following up its May 4 repo rate hike with a similar increase on June 8. The extent of its concern will likely be reflected in the upward revision of the inflation forecast
BUSINESS
CBDCs could 'kill' case for private cryptocurrencies, says RBI Deputy Governor
The Indian central bank's latest salvo against private cryptocurrencies comes ahead of the release of the government's consultation paper on crypto.
BUSINESS
For 3rd straight month, businesses stick to 6%-plus inflation expectation for next year
The elevated inflation expectations - which are critical to ensuring price stability - will be of concern to policymakers, with the Indian central bank scheduled to announce its interest rate decision on June 8 at the conclusion of a three-day meeting.
BUSINESS
Muted Jan-Mar showing indicates inflation, other factors have hit consumption
While the sharp rebound in investments in FY22 has been hailed as a huge positive, the latest GDP numbers do not hold a lot of good news on private consumption
BUSINESS
RBI annual report | Coming soon: 'Work-from-anywhere' policy for business continuity
The coronavirus pandemic forced the Indian central bank to act quickly to ensure there were no disruptions in the functioning of the banking, financial market, and payment systems. It is now looking to provide more flexibility to its staff.
BUSINESS
RBI annual report | Mopping up excess liquidity cost Rs 35,500 crore in FY22
The interest paid by the Indian central bank for its liquidity management operations nearly doubled in FY22 from FY21
BUSINESS
RBI Annual Report | FY22 provisions jump over 5 times on rise in global interest rates
The massive increase in provisions is one of the reasons why the central bank transferred a meagre Rs 30,307 crore to the Centre as dividend for FY22
BUSINESS
Modi govt @ 8 | Pandemic hides economy's past troubles as restart button hit again
The coronavirus pandemic was a large spanner in the works for every country's growth plans. But the Indian economy was facing huge challenges even before the nationwide lockdown was announced in late March 2020
BUSINESS
Moody's lowers GDP growth forecast for India to 8.8% as inflation bites
For next year, the agency has retained its forecast of 5.4 percent.
BUSINESS
Interview | Inflation expectations got unanchored several months ago, says IIM’s Abhiman Das
The risk of inflation expectations getting unanchored was cited by RBI as one of the reasons behind the surprise interest rate hike on May 4. However, IIM Professor Abhiman Das, who has spent years studying inflation expectations, says the damage was done months ago
BUSINESS
The Big Recalculation: Fiscal deficit at 6.9% likely in FY23 after excise duty cuts, lower RBI surplus
The Centre has set itself a fiscal deficit target of 6.4 percent of GDP for FY23. Less than two months into the new financial year, the government's fiscal math is in tatters and warrants a recalculation.
BUSINESS
Merger of govt-owned lenders weakening banking system, says study
Taking the example of Oriental Bank of Commerce, the study found no economic reason for its merger with Punjab National Bank as the efficiency of the former was increasing ahead of the union in 2020.
BUSINESS
RBI board approves transfer of Rs 30,307 crore as dividend to government for this fiscal
As per the Budget, the government had expected to receive Rs 73,948 crore in dividend from the central bank and state-run lenders in FY23.
BUSINESS
Interest rates on the rise but hope remains for private investment cycle
India's policy repo rate was raised on May 4 for the first time in nearly four years in response to elevated inflation numbers but higher interest rates may not kill the private investment cycle even before it takes hold
BUSINESS
Need to re-estimate India's threshold inflation of 6% as output gap closes, says RBI's Michael Patra
While calling for a re-assessment of the threshold inflation rate, an article co-authored by the RBI deputy governor did not indicate whether this new estimate could be higher or lower than 6 percent.
BUSINESS
Financial position of Indian states a worry, but not of the Sri Lankan kind
Sri Lanka's economic crisis has served as a reminder of the harm that too much debt can cause. But to liken the indebtedness of Indian states with that of the island nation is akin to comparing apples with oranges.
BUSINESS
26 states, UTs faced 6%-plus CPI inflation in April
India's headline retail inflation came in at a near-eight-year high in April and the numbers at the state level reveal some worrying trends
BUSINESS
Experts say MPC's June 6-8 meet 'super live' for rate hike after April inflation shocker
The central bank's rate-setting panel announced a surprise 40-basis-point repo rate hike on May 4 in anticipation of a high inflation number for April. But the figure has exceeded economists' expectations.
