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Reserve Bank of India

Emerging-market blowout pressures India’s central bank on rates

The Reserve Bank of India has to decide whether to keep the interest rates steady or risk raising it to stem market pressure. 
File photo of Prime Minister Narendra Modi in Srinagar | PTI

All’s not well with the Indian economy even after 4 years of Modi at the top

Data showed a positive change in India’s economy after Modi tweaked the GDP calculation, but those gains got eroded after 2016's sudden cash clampdown.
Urijit Patel

IMF wants tighter monetary policy but analysts divided over whether RBI will raise rates

IMF report also says India is poised to grow at 7.4 per cent in FY 2018-19, thus making it one of the fastest growing economies in the world.
File photo of rural workers | Flickr

Rural India has earned significantly less since the year Modi came to power, says report

The report points out that though the phase after 2014 has been labelled a period of rural distress, the gap between average growth in rural wages and rural inflation is not so significant.
RBI logo

Minutes of RBI policy meeting indicate an interest rate increase, not a cut

Despite lowering inflation projections just two weeks ago, the tone of the minutes show the debate was veering toward a possible interest rate increase and the next meeting could see the split deepening.  The most hawkish member of India’s monetary policy panel is likely to get support from an influential colleague, signaling an interest rate increase is more probable than a cut. At the April 4-5 policy meeting, Deputy Governor Viral Acharya said there was a revival in investment activity and an improvement in capacity utilization, which boded well for the economy. As a result, he was switching from a neutral stance to shift “decisively to vote for a beginning of ‘withdrawal of accommodation’ in the next monetary policy meeting in June.” Minutes of the policy meeting this month showed most members of India’s monetary policy committee are optimistic that Asia’s third-largest economy will rebound this year with the output gap closing, a...
Representational image of Pulses | Dhiraj Singh/Bloomberg

Modi puts inflation goals at risk in bid to meet promises to farmers

His government is seeking to pay farmers at least 50 percent more than the cost of their produce which is expected to fan prices at a time when oil is surging, putting further pressure on bond yields.
RBI press conference

RBI likely to keep policy rates unchanged through 2018, says Asian Development Bank

The ADB report also sees economy recovering to grow at 7.3 per cent in 2018 and 7.6 per cent in 2019, aided by various growth-oriented policy measures.
RBI governor Urijit Patel after the monetary policy meeting Thursday

RBI keeps interest rates unchanged and cuts inflation forecast

The central bank's decision is expected to help extend a rally in the bond market, triggered last week when the government cut its first-half borrowing plans.
RBI Governor Urjit Patel addresses a press conference

RBI leaves rates alone, says growth will depend on stable financial management

The central bank has said that the economic recovery is on a stable path, but said inflation risks persist.
RBI Governor Urjit Patel

RBI keeps rates unchanged, but raises its inflation forecast

The central bank has raised its inflation forecast for the fourth quarter of the fiscal to 5.1 per cent

On Camera

An employee sits on a video call at the Unicredit SpA headquarters in Milan

Why shrinking offices and hot-desking are bad ideas, Covid or no Covid

Employees’ demands for flexible working will include spacious offices. Given the relative savings, slashing floor space is a false economy.
Oil Facilities And Services Ahead Of Final Year Figures After Demonetization Induced Fluctuation

Diesel demand drop forces India to import gasoline as Covid skews output

The slump in diesel demand is forcing refineries to operate below capacity, but gasoline sales are back at pre-virus levels with people resorting to personal vehicles.

Defence

File image of the OFB pavilion at DefExpo 2016 | Representational image | Twitter | @SpokespersonMoD

Army says ‘poor quality’ Ordnance Board ammo, mines have cost India Rs 960 crore since 2014

Pointing out these shortcomings in an internal assessment, the Army has thrown its weight behind government plans to corporatise the OFB to make it more efficient.
Narendra Modi and Amit Shah | File photo: T. Narayan | Bloomberg

Partners dispensable in Modi-Shah construct if they do not bring additional votes

In the Modi-Shah construct, if partners do not bring additional votes, they are dispensable. However old or loyal, either they become supplicants, or die.