Thursday, 6 October, 2022
TopicInterest rates

Topic: interest rates

Bitcoin crosses $30,000 as China relaxes Covid curbs

Last week, the S&P 500 had its highest weekly gain since November 2020, while Bitcoin fell for the eighth week in a row.

EPFO interest rate for 2021-22 reduced to 8.1%, lowest in over 40 years

In March 2020, EPFO had lowered the interest rate on provident fund deposits to a seven-year low of 8.5% for 2019-20, from 8.65% provided for 2018-19.

RBI’s double-edged decision — not hiking rates helps govt borrow, but runs inflationary risk

Lack of dedicated debt agency leads to conflict between managing govt debt and inflation. RBI chose former, but rate hike would have helped normalisation, attracted foreign funds.

Growth is a big help but India also needs to account for jobs, poverty, health, environment

Modi govt’s approach in Budget may bring growth for few years, despite slowing world economy, rising rates. But problems in areas including education won’t just vanish automatically.

India’s uncertain growth trajectory makes it tough for RBI to tinker with interest rates

There are some early signs of moderation in inflation and a pick-up in growth, but RBI is likely to monitor growth and inflation before a decision on changing rates.

Inflation will moderate — 5 reasons why you should not worry too much about high prices

The May inflation figure may be somewhat inaccurate, with the rise appearing to be mainly due to higher global crude oil prices, commodity prices, and supply-side disruptions.

Manage govt interest burden or prevent price rise? RBI faces tough balancing act

New G-SAP tool is RBI’s way of keeping govt’s interest burden low. But amid inflation concerns, it also has to raise interest rates to prevent price rise.

Why interest rates are losing their relevance around the world

Economists have recommended Switzerland’s central bank put less emphasis on interest rates. There’s a lesson for the rest of the world, too.

Inflation targeting has worked for India, it is one of Modi govt’s defining achievements

Under 2016 RBI Act, govt needs to review the inflation target next year but not its framework. Yet, there’s a growing clamour to scrap the system.

Govt slashes small savings scheme rates up to 1.4% for April-June quarter

Term deposits of 1-3 years will now fetch an interest rate of 5.5%, down from 6.9%, while the five-year term deposit will earn 6.7% instead of 7.7%.

On Camera

YourTurn

Jaishankar to embark on his 1st visit to New Zealand from Oct 5

G20 has 5 daunting challenges and India’s presidency can turn this crisis into opportunity

India should highlight its leadership in low-cost vaccine tech, effective health immunisation delivery, generic pharmaceutical manufacturing, and solar energy.
Falguni Nayar, Nykaa's founder & CEO, and Sima Ganwani Ved, Apparel Group's founder & chairwoman, pose for a picture during a strategic alliance announcement in Mumbai, on 6 October 2022 | Reuters

Nykaa forge ties with Dubai’s Apparel Group to expand business in Gulf countries

Falguni Nayar, the online retailer founder and CEO, said the two companies would together build a multi-brand beauty retail business with Nykaa holding a 55% stake of the entity.

Defence

Rescue operation underway after an army aviation Cheetah helicopter flying in the forward area near Tawang crashed during a routine sortie Wednesday | ANI

Multiple military & civilian chopper crashes in past years highlight a disturbing trend for India

An Indian Army Aviation Cheetah helicopter crashed Wednesday. Several such crashes over past few yrs have jolted the military. Non-military sphere, too, has encountered many crashes.

India’s hijab supporters will lose even if they win SC battle. Because the real war is political

In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.
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