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  • Speech by the Commercial Secretary to the Treasury, Lord Sassoon, at the India International Banking & Finance Summit Tuesday, July 19, 2011 @ 9:05AMThank you for inviting me to speak today, I’m very pleased to be speaking on banking and finance in the context of such an important relationship as that between the UK and India.
  • Sebi issues moneylaundering warning on 10 nations Tuesday, July 19, 2011 @ 8:02AMAfter cautioning Indian markets about possible money laundering and terror-funding risks from Iran and North Korea, market regulator Sebi has issued a warning for funds from eight more countries, including Turkey and Ethiopia.
  • Sensex ends up 130 pts Tuesday, July 19, 2011 @ 5:20AMThe Sensex ended (provisional) at 18,637 - up 130 points. Nifty ends up 39 points at 5,607. _____________________________ (Updated at 1436 hrs)
  • Bankers urge Reserve Bank to pause interest rate hike Monday, July 18, 2011 @ 6:43PMBankers, who are fighting slowing credit growth, urged the Reserve Bank of India on Monday to pause rate hikes when it announces the quarterly credit and monetary policy on July 26.
  • RBI branch bait for banks Monday, July 18, 2011 @ 5:42PMMumbai, July 18: The Reserve Bank of India (RBI) today dangled a bait before commercial banks by offering permission to open branches in lucrative Tier I and Tier 2 centres if they open more than the mandated 25 per cent of all new branches in unbanked rural centres.
  • Banks urge RBI not to hike key rates Monday, July 18, 2011 @ 3:26PMLenders have asked the Reserve Bank of India to take a pause and not hike interest rates in its monetary policy review next week as bank credit has already seen some moderation.
  • Banks tap RBI's MSF to borrow funds to meet their CR Monday, July 18, 2011 @ 2:52PMBanks tap RBI's MSF to borrow funds to meet their CRBanks tap RBI's MSF to borrow funds to meet their CR
  • Sensex dips 55 pts on rate hike fears, weak global cues Monday, July 18, 2011 @ 9:39AMAgencies Mumbai, July 18: The BSE benchmark Sensex on Monday fell by 55 points as investors feared another hike in interest rates when RBI reviews the inflation situation next week amid a weak global trend.
  • Sensex dips 55 pts on rate hike fears, weak global cues Monday, July 18, 2011 @ 9:39AMAgencies Mumbai, July 18: The BSE benchmark Sensex on Monday fell by 55 points as investors feared another hike in interest rates when RBI reviews the inflation situation next week amid a weak global trend.
  • Sensex dips 55 pts on rate hike fears, weak global cues Monday, July 18, 2011 @ 9:39AMAgencies Mumbai, July 18: The BSE benchmark Sensex on Monday fell by 55 points as investors feared another hike in interest rates when RBI reviews the inflation situation next week amid a weak global trend.
  • Rupee ends lower by five paise at 44.57 per US Dollar Monday, July 18, 2011 @ 9:39AMAgencies Mumbai, July 18: The Rupee today weakened by five paise at 44.57 against the Dollar due to rising demand for the greenback by exporters, dealers at the Interbank Foreign Exchange said.
  • Rupee ends lower by five paise at 44.57 per US Dollar Monday, July 18, 2011 @ 9:39AMAgencies Mumbai, July 18: The Rupee today weakened by five paise at 44.57 against the Dollar due to rising demand for the greenback by exporters, dealers at the Interbank Foreign Exchange said.
  • Rupee ends lower by five paise at 44.57 per US Dollar Monday, July 18, 2011 @ 9:39AMAgencies Mumbai, July 18: The Rupee today weakened by five paise at 44.57 against the Dollar due to rising demand for the greenback by exporters, dealers at the Interbank Foreign Exchange said.
  • Bank body suggests rate hike pause to RBI Monday, July 18, 2011 @ 5:12AMSelect bankers led by the bankers' body met Reserve Bank of India (RBI) Deputy Governor Subir Gokarn at a meeting to give their views.
  • SMEs’ biz confidence index down 4.9% in Q2 Monday, July 18, 2011 @ 4:36AMThe business confidence of small and medium enterprises (SMEs) has declined for the July-September quarter due to high inflation and fears of a further hike in interest rates by the RBI, industry body CII has said.
  • Tax clouds gather over Axis Bank's Enam deal Monday, July 18, 2011 @ 12:52AMRBI has directed the bank to revise the accounting scheme and the deal structure.
  • Double mint Sunday, July 17, 2011 @ 2:05PMNext week the Reserve Bank of India (RBI) will come forward with its quarterly review of the economy and of monetary policy. In less than two months, the tenure of the incumbent RBI governor, Duvvuri Subbarao, comes to an end. Those who have built India’s great institutions have believed for a long time that decisions pertaining to appointment to high offices should always be taken several ...
  • Sanjaya Baru: Secession of the successful Sunday, July 17, 2011 @ 2:04PMLast month the Reserve Bank of India (RBI) put out the latest data on outward foreign direct investment (OFDI) from India. The liberalisation of restrictions on Indian investment abroad has helped Indian companies acquire assets worldwide.
  • Liquidity may tighten a week ahead of RBI policy Sunday, July 17, 2011 @ 1:36PMLiquidity conditions are expected to tighten, due to government borrowing and increased demand for funds from banks as the new reporting fortnight begins this week.
  • Tax googly stumps Axis on Enam deal Sunday, July 17, 2011 @ 1:35PMRBI asks bank to revise accounting scheme, deal structure.
  • Government, RBI working together to reduce inflation: Pranab Mukherjee Thursday, July 14, 2011 @ 6:27AMNew Delhi, July 14 : Stating that inflation figures reported for the month of June 2011 continues to be a matter of concern, Finance Minister Pranab Mukherjee on Thursday said the government is working together with the Reserve Bank of India (RBI) to take appropriate steps to reduce inflation to more comfortable level.
  • RBI may hike rates again on July 26, say economists Tuesday, July 12, 2011 @ 7:21AMEconomists think that despite the lower industrial production numbers released today, inflation continues to remain the major issue and the Reserve Bank of India will continue with its interest rate hikes for some more time.
  • India's factory output slows further in May Tuesday, July 12, 2011 @ 5:42AMIndia's industrial production grew at a slow 5.6 percent in May, the pace dipping even below the expansion seen in the previous month, primarily due to slow growth in the manufacturing sector, according to official data released Tuesday.
  • Unreliable macroeconomic data affect policy making, says Subbarao Tuesday, July 12, 2011 @ 1:51AMBusiness Line The RBI Governor, Dr D. Subbarao, along with the Deputy Governor, Dr Subir Gokarn; Professor Sastry Pantula and Professor Rajeeva Karandikar at the 5th Statistics Day Conference at the RBI headquarters in Mumbai on Tuesday.
  • India's May industrial output up 5.6 pc y/y Tuesday, July 12, 2011 @ 1:28AMNEW DELHI: India's industrial output in May rose a slower-than-expected 5.6 percent from a year earlier, government data showed on Tuesday. The median forecast in a Reuters poll was for an annual rise of 8.2 percent.
  • Auto sales growth forecast to skid at 11-13 pc in FY12 Tuesday, July 12, 2011 @ 12:56AMNew Delhi, Jul 11 :Auto sales is expected to lose momentum during the current fiscal with growth skidding to 11-13 per cent as compared to 30 per cent in the previous financial year due to rising interest rates and fuel prices, industry body Society of Indian Automobile Manufacturers (SIAM) said today.
  • SBI shelves JV with Tata Motors Finance Tuesday, July 12, 2011 @ 12:41AMState Bank of India (SBI) has put on the backburner its plan to acquire a stake in Tata Motors Finance, following the Reserve Bank of India's (RBI's) objection.
  • Banks refuse NATGRID client info Monday, July 11, 2011 @ 6:05PMBanks have refused to share information related to customer details with the government's ambitious anti-terror National Intelligence Grid (NATGRID) citing violation of the confidentiality clause.
  • 'India can grow at 9.5% if inflation tamed' Monday, July 11, 2011 @ 4:49PMIndia can easily achieve a 9%-9.5% growth rate in the 12{+t}{+h} plan period provided it is able to tame inflation at around 5%, C Rangarajan, chairman, economic advisory council to the Prime Minister, said on Monday.
  • Gradual approach to achieve full convertibility: RBI Monday, July 11, 2011 @ 2:34PMThe Reserve Bank of India (RBI) on Monday said the country would adopt a calibrated approach towards full capital account convertibility so that the macroeconomic stability was not affected.
  • Nomura backs RBI rate increase transmission Monday, July 11, 2011 @ 2:04PMThe Reserve Bank of India’s (RBI) action in raising rates appears more effective now than in the past, as commercial banks continue to increase lending rates aggressively, amidst tight liquidity and rising cost of deposits.
  • K P Shashidharan: Provisioning for credibility Monday, July 11, 2011 @ 1:42PMThe way banks have been providing for liabilities disproportionately in different quarters over the years came to the attention of all stakeholders and regulators when the fourth quarter results of State Bank of India (SBI) for 2010-11 devastated investor confidence and credibility in financial reporting. This impacted the bank major’s share price plummeting to one of its lowest marks.
  • Govt short-term debt soars in first quarter Monday, July 11, 2011 @ 1:38PMGovernment borrowing through short-term debt rose in the first quarter of the current financial year, compared to the same quarter last year. According to the Reserve Bank of India (RBI), the total issue of treasury bills stood at Rs 121,541 crore as on July 1, up from Rs 72,329 crore a year ago.
  • RBI frown makes SBI shelve JV with Tata Motors Finance Monday, July 11, 2011 @ 1:37PMThe regulator questioned the benefits of SBI buying a 30% stake in the finance company.
  • Kamath: Stability to reap long-term fruits Saturday, July 9, 2011 @ 1:42PMThe Indian economy, on real terms, is growing at around nine per cent and the fruits of this stable growth would be felt in the long term, said Infosys’ chairman designate, K V Kamath.
  • If inflation's peaked so have interest rates: Chakrabarty Saturday, July 9, 2011 @ 1:38PMJust about a fortnight before the first quarterly review of the monetary policy statement by the Reserve Bank of India (RBI), deputy governor K C Chakrabarty has made a statement which reflects the central bank’s state of mind on interest rate scenario.
  • Price Inflation Explodes Higher In Brazil, Russia, India And China Saturday, July 9, 2011 @ 11:44AMThose looking for price inflation can easily find it if they open their eyes and look at the much beloved BRICs, Brazil, Russia, India, and China, as opposed to where everyone is looking, which is to say the United States.
  • RBI releases Compendium CD of Articles on State Finances Friday, July 8, 2011 @ 12:27AMMumbai, Jul 7:The Reserve Bank of India today released Compendium CD of Articles on State Finances from 1950-51 to 2010-11.
  • RBI assures support to TN in giving pension through bank a/c Thursday, July 7, 2011 @ 11:32AMChennai, Jul 7 (PTI) The Reserve Bank today assured its support to Tamil Nadu in providing pension through bank accounts scheme.RBI Governor D Subbarao, who chaired the bank''s board meeting here today, stated this during a meeting with Chief Minister Jayalalithaa at the Secretariat."The Chief Minister solicited Reserve Bank''s support for the state government''s initiative in delivering ...
  • Fuel, food inflation ease; price pressures remain Thursday, July 7, 2011 @ 4:37AMNEW DELHI (Reuters) - Fuel inflation eased in late June on lower petrol and other decontrolled (or market-determined) fuel prices, but the recent hike in state-set fuel prices is seen keeping headline inflation high and pressure the Reserve Bank to raise rates further later this month.
  • Few takers for 50 paise coin in Assam dists Wednesday, July 6, 2011 @ 7:00PMJorhat, July 6:Fifty paise coins adding upto several lakhs are lying in banks that have Reserve Bank of India (RBI) chests in Upper Assam for the past seven to eight years.Banks with RBI chests receive cash directly from the RBI and distribute it to other banks. The Jorhat branch of the State Bank of India has 50 paise coins adding upto Rs 1 lakh in its chest.Bank officials said because of a ...
  • Senior moments Wednesday, July 6, 2011 @ 9:49AMFor the second time in a row, the Reserve Bank of India (RBI) has avoided the unpleasant situation of a senior official reporting to a junior one. This happened this week when H R Khan was appointed the new deputy governor superseding three others, V K Sharma, V S Das and G Gopalakrishna.
  • ''Allow FDI in multibrand retail in properly regulated fashion'' Wednesday, July 6, 2011 @ 5:09AMNew Delhi, July 6 (PTI) A Prime Minister-appointed panel on inflation has pitched for opening FDI in multibrand retail in a "properly regulated fashion", cautioning that the global corporations can also become monopolistic and hike prices.The Inter-ministerial Group (IMG) headed by Chief Economic Advisor Kaushik Basu has called for allowing FDI in the sector at the earliest to check price rise ...
  • Subbarao says Insia ahead of World in statistical analysis Wednesday, July 6, 2011 @ 12:34AMMumbai, Jul 5 : The Reserve Bank of India Governor Dr Duvvuri Subbarao today said in recognising the importance of statistics and statistical analysis of public policy formulation, India has been ahead of the World.
  • Allow FDI in multi-brand retail to check inflation: IMG Tuesday, July 5, 2011 @ 11:20AMNew Delhi, July 5 (PTI) Making a case for opening up multi-brand retail to FDI, a Prime Minister appointed panel on inflation has called for allowing global players in the sector at the earliest to check price rise."The IMG (Inter-ministerial Group) deems that it is time for India to allow FDI in multi product retail and proposes that the Government consider this at the earliest... (it) believes ...
  • Inflation, industrial output data flawed: RBI governor Tuesday, July 5, 2011 @ 5:12AMThe data on industrial output and inflation is flawed as it does not reflect the correct picture and could 'potentially mislead policy calculations', Reserve Bank of India (RBI) Governor Duvvuri Subbarao said Tuesday.
  • 'Goa-Oman direct flights could ease Goan NRI woes' Tuesday, July 5, 2011 @ 5:12AMGoa's Dabolim International Airport has been earmarked as an additional port of call for commercial planes from Oman, Goa's commissioner for Non-Resident Indian (NRI) affairs Eduardo Faleiro said Tuesday.
  • India to train Kyrgyzstan armed forces Tuesday, July 5, 2011 @ 5:12AMIndia will be sending a team to train Kyrgyzstan armed forces in UN Peace Keeping Operations and impart English language skills to them.
  • Data revisions can mislead policymaking: Duvvuri Subbarao, RBI Tuesday, July 5, 2011 @ 5:11AMMonthly inflation yardstick, the Wholesale Price Index (WPI), has been revised upward, sometimes sharply, in recent months.
  • RBI: provisional data can mislead policy calculations Tuesday, July 5, 2011 @ 12:54AMMUMBAI (Reuters) - Provisional macro-economic data can mislead policy calculations, Duvvuri Subbarao said at the Reserve Bank of India's Statistics Day conference on Tuesday.