New Delhi, June 3 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its three-day policy meeting on Wednesday, with experts widely expecting the central bank to maintain status quo on interest rates amid volatile global conditions, driven by ongoing tensions in West Asia. The policy decision will be announced on Friday by Governor Sanjay Malhotra.The June review comes amid sustained geopolitical tensions and volatile global crude and gas prices, which have complic…
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New Delhi, May 31 (IANS) The Reserve Bank of India (RBI) is widely expected to keep its benchmark policy rate unchanged at 5.25 per cent when the Monetary Policy Committee (MPC) concludes its three-day meeting on June 5, as policymakers weigh mounting global uncertainties and their potential impact on inflation and economic growth.Market participants and economists anticipate that the central bank will maintain its cautious stance, choosing to closely monitor evolving developments in West Asia a…
Mumbai, May 31 (IANS) India’s benchmark equity indices ended sharply lower on Friday after a steep selloff in the final hour of trade, with investors turning cautious ahead of key domestic and global developments that are expected to drive market sentiment next week. Investors are now expected to closely track the Reserve Bank of India’s monetary policy decision, developments surrounding the US-Iran conflict, crude oil price movements and foreign investor activity for cues in the coming week…
New Delhi, May 13 (IANS) No proposal is currently being considered to mandate work-from-home arrangements for the IT sector, after Prime Minister Narendra Modi’s appeal for reduced fuel usage to tackle the fuel price surge, government sources clarified, as per reports. The IT industry has largely adopted hybrid work models since the pandemic, and hence, no formal directive is being considered, an NDTV Profit report cited the sources as saying.Further, policy decisions related to mandatory remote…
New Delhi, May 13 (IANS) Historical analysis of oil spikes showed that they do not permanently alter India’s GDP or inflation path and the structural relationships are weak over the long run, a report said on Wednesday.The report from Bank of Baroda said that autoregressive distributed lag model analysis of crude price changes over the last 54 years does not establish any long run relationship between oil prices, GDP, CPI (Consumer Price Index) and WPI (Wholesale Price Index).Over the past 54 …
New Delhi, May 8 (IANS) Economists on Friday said they do not expect the Reserve Bank of India (RBI) monetary policy committee to exhibit any urgency to tighten policy as yet amid fast-evolving geopolitical situation.RBI Governor Sanjay Malhotra said last month that Central Bank is closely monitoring the fallout from the West Asia conflict and will not make firm commitments on the future path of policy rates.He signalled that the central bank was in no hurry to move on rates. “We are in a wait-a…
New Delhi, May 2 (IANS) The government has appointed Rohit Jain as a deputy governor of the Reserve Bank of India, according to an official notification.Jain’s appointment will take effect from May 3 and will be for a tenure of three years, the notification said.He is currently serving as an executive director at the central bank.Jain succeeds T. Rabi Sankar, who retired late last month. His portfolio allocation as deputy governor is yet to be announced.The appointment comes at a time when the…
New Delhi, May 2 (IANS) The Reserve Bank of India (RBI) Governor Sanjay Malhotra said that India’s macroeconomic fundamentals remain robust despite geopolitical tensions and flagged risks from high public debt in major economies.The RBI Governor warned that continued fiscal expansion abroad, together with rising defence spending amid geopolitical tensions, could strain global fiscal sustainability.He cautioned that stretched valuations in some asset classes, especially in the technology sector…
Jabalpur, May 1 (IANS) The Madhya Pradesh government on Friday initiated stringent action against those found negligent in the cruise accident at Bargi Reservoir in Jabalpur. Cruise pilot Mahesh Patel, helper Chhotelal Gond, and ticket counter in-charge (Front Office Assistant) Brijendra were dismissed from service with immediate effect, the government said in a statement on Friday evening.It further stated that Sunil Maravi, manager of Hotel Maikal Resort and Boat Club Bargi, has been sus…
Bhopal, May 1 (IANS) In the aftermath of the tragic cruise accident in the waters of Bargi, in Madhya Pradesh’s Jabalpur, Chief Minister Mohan Yadav has taken decisive steps to hold those responsible accountable. Through his official X handle, he announced strict measures against the individuals found prima facie guilty of negligence. The services of Cruise Pilot Mahesh Patel, Cruise Helper Chhotelal Gond, and Ticket Counter In-Charge Brijendra have been terminated with immediate effect.Sunil …