The RBI has "no room" to cut interest rate on Monday after WPI inflation was revised upwards in March, making it "a foregone conclusion" that the April and May data will also be revised upwards, CLSA says.
China's central bank cut benchmark interest rates by 25 basis points in a surprise move on Thursday to shore up slackening economic growth, its first rate cut since the depths of the 2008/09 financial crisis.
Justifying the rate cut, Diwakar Gupta, MD and CFO, SBI said the bank is reasonably comfortable on the liquidity front and would cut rates on advances and deposits only when the overall economy warrants it.
The Reserve Bank of India (RBI) has removed restrictions imposed on banks which earlier prevented lenders from levying penalty on customers for foreclosure of some term deposits.
In a move which will benefit millions of employees, the government has hiked interest rate on contributions to General Provident Fund and other similar funds to 8.8% for 2012-13.
Interest rate on employees' provident fund will be increased to 8.6% for the current fiscal, a move which will benefit around five crore subscribers.
The Federal Reserve, citing concerns about the pace of recovery, held its key interest rate near zero and indicated the economy would have to improve substantially for any changes in policy to take place.
RBI Deputy Governor Subir Gokarn today said upside risks to inflation and downside risks to growth persist. The RBI will act proactively on the tricky issue, he said in an interview to CNBC-TV18.
The Reserve Bank of India may have used the best opportunity to cut rates, as it expects a difficult year ahead, says R Jagannathan, editor-in-chief, Firstpost.com.
The Reserve Bank of India (RBI) cut its repo rate by 50 basis points (bps) on Tuesday and not by 25 bps as widely expected, because it has a better understanding of growth and inflation than during the March policy, Governor Duvvuri Subbarao said.
The Reserve Bank of India's (RBI) decision to cut its key interest rate, by an unexpectedly sharp 50 basis points, will help revive investment, Finance Minister Pranab Mukherjee told reporters on Tuesday.
Sanjeev Prasad, executive director and co-head, Kotak Institutional Equities says the market has priced in a 25 bps rate cut by the Reserve Bank but it is not expecting any easing in the cash reserve ratio today.
Signaling interest rate cut to boost economy at its annual credit policy tomorrow, the Reserve Bank said it would shift the focus to arresting declining growth while keeping inflation under control.
The rupee fell on Monday as weak labour market numbers from United States last week fueled slowdown worries and prompted investors to cut risk, but likely dollar sales by the Reserve Bank of India helped the local unit cut some losses.
The BSE Sensex was expected to gain 26% this year as interest rate cuts bolster growth, but concerns about the government's finances and its political stability remain prominent risks, a Reuters poll showed.
Latest fixed deposit rates offered by Saraswat Bank.
Gold prices slipped below USD 1,660 an ounce in Europe on Thursday, extending their retreat from two-week highs into a third session, as the dollar recovered from a near one-month low and crude oil prices turned lower.
Sandeep Shah of Sampriti Capital says that the downside for the market is around 5000-5200.
Nilesh Shah of Axis Bank explained to CNBC-TV18 that the Budget was more like an account statement than a set of great policy initiatives. He pointed out that it ignored the manner in which the measures mentioned would be executed
Former RBI deputy governor Rakesh Mohan tells CNBC-TV18 that the government's fiscal consolidation path is still unclear.
We hope that the Union Budget for 2011–2012 will give consumers the much needed support to make affordable housing a reality. We need tax and interest rate incentives to encourage construction of houses for the masses, apart from making land parcels available at low costs.
C Rangarajan, chairman of the Prime Ministers Economic Advisory Council (PMEAC) put it nicely when he told on CNBC-TV18 that 8% growth is achievable, but the finance minister needs to get credibility back in the economy.
To prop up the sagging home loan market, state-run lenders Central Bank of India (CBI) and Bank of Maharashtra (BoM) have announced interest rate cuts by up to 0.25% on select loans and to waive off the processing fee.
Bond yields may inch higher in the absence of any OMO announcement yesterday, says Ramanathan K, ING Invst Management.
With credit growth not picking up owing to a high interest rate regime, many banks are now apprehensive about meeting their priority sector lending (PSL) target in the current fiscal.