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Over the last two decades and 114 policy meetings, the RBI has followed the Fed only 16 times.
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In its petition, Consumer Unity & Trust Society (CUTS) has also made PVR and INOX as parties before the National Company Law Appellate Tribunal (NCLAT).
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In spite of the upside risk to 5
per cent inflation target by next March that the Reserve Bank
sees, there is space for rate cuts with another 25 basis
points cut likely this fiscal, says a report.
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"Given the important role that trade can and should play in our economic growth, relevant government agencies in India need to adjust exchange rates in a manner that they make our trade more competitive, without much pressure on our inflation," it said in a statement.
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Giving a perspective, Pradeep S Mehta, Secretary General, CUTS International, said, "The outstanding debut of the discoms swelled to Rs 4.3 lakh crore in 2014-15, from 2.4 lakh crore in 2011-12, and their operational losses are being funded by debt, leading to banking stress."
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Rising consumer confidence in the economy bears a direct correlation to rising auto sales. As seen in 2007-09 period, the global automobile sales were led by Asian markets including India, where the economy was growing in the region of 10%.
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The RBA said that there was scope for further monetary easing although policy was appropriate for now. In a sign that the recent fall in the Aussie dollar may not be a barrier to further cuts, the RBA said the currency remained high despite its recent depreciation.
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Richard Gibbs, global head, Macquarie Securities, expects the commodity prices to decline going forward. The growth rate in China has slipped below expectation so foreign investors are likely to take more interest in the Indian market.
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PN Vijay, Portfolio Manager, askpnvijay.com, says that the core inflation number is a welcome indicator for the RBI to cut rates in the upcoming policy.
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Indranil Pan, Kotak Mahindra Bank, says that inflation figure at 6.62 percent has clearly surprised the market. Globally, Brent prices are once again up at around USD 118-119 per barrel and that would have downside implication on oil subsidy.
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To discuss the implications and the guidance held out by the RBI governor, Naina Lal Kidwai, country head, HSBC and Ficci President; Saumitra Chaudhuri, member, PM's Economic Advisory Council and Indranil Sen Gupta, chief economist-India, BoFA-ML share their view on today‘s rate cut.
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Shubhada Rao, chief economist, Yes Bank, Adi Godrej, President, CII & chairman, Godrej Group and Keki Mistry, vice chairman & CEO, HDFC, share their view on macro economic report and what they expect from the upcoming RBI policy.
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The Reserve Bank of India today said recent reforms have reduced the immediate risks for the economy but emphasised on the need for more measures to restore investor confidence.
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Indian economy is expected to grow at a rate of 6.7 per cent in the 2013-14 on account of expectations of cut in the key policy rates by the RBI which may have a positive impact on industrial growth and consumption, a Ficci survey today said.
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A proposal to create a separate debt segment on the stock exchanges with regards to corporate bonds is being considered for some time. Mohan Shenoi of Kotak Mahindra Bank believes there is a chance of the market taking it up very well.
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HDFC Bank, India‘s second largest private sector lender reported a consistent 30 percent year-on-year jump in its third quarter net profit at Rs 1859 crore. The bank‘s robust performance was driven by higher growth in other income and loan expansions in Q3.
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India's inflation has come off a peak but is still high, Bloomberg quoted the Reserve Bank of India governor D. Subbarao as saying, a comment that is likely to cool expectations for a rate cut later this month.
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The second largest private sector lender HDFC Bank today said it will decide on a possible lending rate cut later this week.
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Arun Kaul, chairman, UCO Bank, says that the market was expecting a rate cut in both repo and CRR. Unchanged rate cut has clearly disappointed the market.
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Consumer rights activist CUTS has urged competition watchdog CCI to investigate potential misuse of dominant position by search engine giant Google Inc in the Indian internet space.
