In the bi-monthly policy statement, the central bank also said that it awaits greater transmission of its front-loaded past actions, and that it would monitor developments for emerging room for more accommodation.
Although loan offtake has shrunk 3.16 per cent in April-June and stalled projects are yet to see a revival, analysts expect the central bank to wait for more clarity on food prices and cues on a possible US Fed rate hike.
The public sector insurer increased its holding in PSBs in the range of 6.28 to 9.4 percentage points
A policy outlining guidelines is likely to be notified shortly. With this India will become one of the five countries worldwide to have notified regulations for commercial use of drones.
Finance Minister Euclid Tsakalotos signed the order Friday that also includes restrictions for Greece-based traders for an unspecified time period.
The meeting comes just days after the finance ministry released a revised draft of the Indian Financial Code that would reduce the central bank’s powers to decide the monetary policy stance.
Greece woke up to widespread tax rises -- on everything from sugar and cocoa to condoms, taxis and funerals
In the last eight months, while CPI (retail inflation) has consistently moved upwards, the WPI (headline inflation) has dramatically contracted.
The proposal is aimed at simplification of FDI policy with a view to attracting foreign investments and also improving ease of doing business in India.
Wholesale Price Index (WPI) based inflation was (-)2.36 per cent in May. It has been in the negative zone since November 2014.
The retail inflation measured in terms of Consumer Price Index (CPI) was at 5.01 per cent in May. The rate of price rise was at 6.77 per cent in June last year.
‘The way to eliminate deprivation is to achieve growth of 8-10% so that jobs are created for all’
McKinsey said firms backed by private equity generally improve their corporate governance by, for example, introducing independent committees for audit and compensation and enhanced board oversight.
But India's GDP growth rate is still expected to surpass China's this year for first time since 1999.
Greece has received nearly 240 billion euros from the European Union and IMF since 2010. The money has allowed it to stay afloat but at a high cost to its population, which has absorbed cuts to pensions, wages and public services.
BSE benchmark Sensex which crashed by 602 points at one stage on Monday staged a partial recovery to end with a loss of 167 points at 27,645.15.
Greece closed its banks and imposed capital controls on Sunday to check the growing strains on its crippled financial system.
Digital India will broadly aim at four things: bridging the digital divide, improving governance, harnessing power in the common man’s hand, and a politically and ideologically neutral campaign.
Raghuram Rajan has asked central banks from across the world to define "new rules of the game."
Govt intends to provide $9 billion to public sector banks towards recapitalisation over the next two fiscal to meet global risk norms and for growth: Finance Secretary Rajiv Mehrishi
Fresh holders of a mining lease or a prospecting licence-cum-mining lease to pay the DMF an amount equivalent to one-third of such royalty.
The central government will increase the number of workdays under the rural job guarantee scheme from 100 to 150 in drought-affected areas, said sources.
Cairn India has Rs 16,867 crore of cash on its books, while Vedanta has debt of Rs 37,636 crore, leading to concern among minority shareholders.
CBDT chairperson Anita Kapur said that the income tax department will ensure that chronic evaders are not able to get away without facing court cases.
Combined exports of April-May stood at $ 44.40 billion as against $53.63 billion in the corresponding period a year ago, down 17.21 per cent.
Inflation in May last year was 6.18 per cent. The lower inflation comes amid a forecast of deficient monsoon this year.
With an expected growth of 7.5 per cent this year, India is, for the first time, leading the World Bank's growth chart of major economies," said Kaushik Basu.
The RBI’s target inflation rate is 6% by January 2016 and the central bank wants to reduce inflation to 4% over the coming couple of years.
Welcoming the GDP data, finance minister Arun Jaitley said that manufacturing and services sector trends indicate India can grow at 8 to 9 per cent or even higher.
Arun Jaitley: Absolutely clear that the economy is in recovery mode
On the poor condition of discoms, Goyal held states responsible for being fiscally imprudent over the years.
For the current financial year, the minister said, direct tax collection was likely to improve by 14-15 per cent and there was possibility of government improving upon the fiscal deficit target of 3.9 per cent.
The new formula being proposed by the civil aviation ministry for permitting airlines to start international operations, once approved, will replace the ‘5/20’ norm.
"The government is "sensitive" to the concerns of investors and is looking into addressing economic issues, he said.
RBI in constant dialogue with Centre to see how we can make it function effectively: Rajan on PDMA.
Senior advocate Kapil Sibal, who appeared for the company, pointed out that when the CBI prosecuted Raju brothers, Tech Mahindra was not named as an accused and the same principle could be followed by ED.