RBI Governor Urjit Patel voted for interest rate hike citing inflation risks and related uncertainties while his deputy Viral Acharya felt there was no alternative to it by 25 basis points, as per the minutes of the MPC meeting released today.
The power sector is unlikely to get any relief in the near future from its outstanding debt of Rs 1.8 lakh crore, as the Reserve Bank of India (RBI) has refused the Finance Ministry’s request to give forbearance to the sector.
A rise in trade deficit due to higher crude oil prices widened India’s current account deficit (CAD) for 2017-18, Reserve Bank of India’s (RBI) data showed on Wednesday.
Rising oil prices and accelerating growth in vast swathes of the economy created a situation akin to a “tug of war”, prompting the Indian central bank to raise benchmark rates for the first time in more than four years, Asia’s richest banker Uday Kotak said Tuesday.
Citing the rise in global crude oil prices as a risk to consumer inflation, the Reserve Bank of India’s MPC has hiked its inflation projection for FY19.
Hardening domestic fuel prices are likely to weigh on the Reserve Bank’s rate setting panel, Monetary Policy Committee (MPC), at its 3-day meet from June 4. This is the first time that the MPC will meet for three days due to “administrative exigencies”.
Rise in oil prices may lead to inflationary trends in the country, forcing the Reserve Bank of India (RBI) to hike rates by 0.25 per cent in the August policy review, foreign brokerages said today.
The Reserve Bank of India (RBI) has recently recommended stricter norms for non-performing assets (NPAs) recognition by banks.
Just as the Indian economy was limping back to normalcy after an elongated period of subdued growth, oil prices have thrown a spanner in the works right on cue.
India’s current account deficit (CAD) is set to widen due to higher oil prices which could lead to the Reserve Bank of India (RBI) issuing a fresh tranche of NRI bonds to shore up its foreign exchange reserves, Bank of America-Merrill Lynch (BofA-ML) India economist Indranil Sen Gupta said in a note on Thursday.