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Analyzing higher inflation rate and worsening economic situation, the Reserve Bank of India, India?s master bank second time in the line since after June today has made no changes in bank rates except 1% cut in Statuary Liquidity Ratio (SLR) - the amount of deposits banks park in government bonds - by 1%.RBI was today reviewing the monetary condition of India and it was expected that it might keep...
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main industry bodies in the country, FICCI and CII, were unfazed with the first quarter Monetary Policy announced by Reserve Bank of India (RBI) today and they called for the revival of economic growth.Giving a reaction to Monetary Policy, R V Kanoria, president of Federation of Indian Chambers of Commerce and Industry (FICCI), said the central bank and the government need to coordinate and find a...
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first quarter Monetary Policy announced today by the Reserve Bank of India (RBI) was greeted with discontent by the bankers and others here.Anubhuti Sahay of Standard Chartered Bank said "The RBI struck a hawkish stance in its monetary policy statement. Once again, containing inflation and inflationary expectations have been highlighted as the priority." Abheek Barua, chief economist of HDFC Bank,...
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central bank left interest rates unchanged on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.Underlining its policy dilemma as it faces pressure to reduce rates, the Reserve Bank of(RBI) cut its economic growth forecast for the fiscal year to March 2013, while at the same time raising its inflation...
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deteriorate.Rupee notes of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.(Reuters) - The rupee weakened on Tuesday after swinging in a wide band after the Reserve Bank of India (RBI) kept both interest rates and its hawkish policy stance intact, depriving the economy of near-term drivers to boost growth.Instead, the focus is shifting to the government...
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State Bank of India , the country's top lender, expects retail lending costs to come down after the central bank cut the minimum requirement for banks' government bond holdings, its chairman Pratip Chaudhuri said....
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industry is disappointed with RBI's decision to leave interest rates unchanged and said an opportunity is lost in reviving the growth momentum in the economy....
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is widely expected to keep interest rates on hold, when it meets Tuesday, a day after admitting that it is worried about inflation.The Reserve Bank of India, hinted in a report on Monday that it was unable to cut interest rates further, despite pressure to boost the country's economy, as growth slows.India's economy grew 5.3% between January and March, its slowest annual quarterly expansion in nine...
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the Reserve Bank of India (RBI), has left its key interest rate unchanged at 8% for the second time in two months.The bank hinted in a recent report that it was unable to cut interest rates further, despite pressure to boost the country's economy, as growth slows.India's economy grew at an annual rate of 5.3% between January and March, its slowest pace in nine years.The central bank lowered India's...
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(RBI) on Tuesday left interest rates unchanged in line with expectations, while paring growth forecasts and raising inflation prospects in a signal of toughening economic climate.The RBI kept its repo rate, that rate at which it lends to banks, at 8 percent and left the cash reserve ratio (CRR) for banks, which determines the share of deposit lenders must keep with the central bank, at 4.75 percen...
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day before the first-quarter review of the monetary policy, the Reserve Bank of India has made it clear persistent inflation will continue to be its focus area, even as economic growth is expected to moderate further.Painting a gloomy picture of the economy on Monday, the RBI highlighted the need for no-monetary policy measures to spur investment activity.n its Macroeconomic and Monetary Development...
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deteriorate.REUTERS - The Reserve Bank of India (RBI) left interest rates unchanged for the second time since June, in line with expectations, while cutting its growth forecast and lifting its inflation outlook as economic conditions deteriorate.The RBI kept its policy repo rate at 8 percent and left the cash reserve ratio for banks at 4.75 percent. CRR is the share of deposits banks must keep with...
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government in Taiwan wants to diversify the kinds of products Taiwan sells overseas, as Cindy Sui reportsTaiwan's economy contracted in the three months to the end of June, as the global slowdown weighed on export-dependent countries.The economy contracted 0.16% compared to the previous year, the statistics agency said. Analyst were expecting slight growth.China, another major trade partner for Taiwan,...
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A day before it reviews interest rates in its monetary policy review, the(RBI) has kept the market guessing by publishing a sharply lower growth forecast of 6.5% for 2012-13 . At the same time, RBI has said that the near-term outlook on inflation continues to be marked by a number of upside risks, despite the significant slowdown in growth.Lower growth forecasts typically increase hopes of a rate cut....
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settings.Weaker demand growth for business loans in the June quarter may signal a slowdown in the wider economy, a credit data research group says.The Veda business credit demand index rose 4.5 per cent in the year to June, barely half the 8.8 per cent pace in the year to March."The latest data suggests a softening in the pace of real GDP growth after a very strong March quarter,” said Veda general...
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Reserve Bank of India has signalled very clearly that the onus of reviving the stuttering economy rests with the government — and will critically depend on its ability to spend its way out of the crisis.The bald message in its report on Macroeconomic and Monetary Developments — traditionally released a day before the central bank’s policymakers hunker down for a quarterly review of the monetary policy...
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Reserve Bank of India painted a gloomy picture of the country's economy on Monday, citing both a sluggish growth outlook and persistent inflation, a day before it is expected to hold interest rates steady for the second time in two months.The RBI also maintained pressure on the deficit-strapped government to cut subsidies and invest more to stimulate growth."The near-term outlook on inflation continues...
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