Taking on his detractors, Governor Raghuram Rajan on Tuesday said the criticism that RBI killed growth with high rates was at odds with "received wisdom" of India being fastest-growing and urged the government to look beyond 'motivated criticism' to protect the central bank's autonomy.
Asking the government and RBI to keep their differences "behind the closed doors", former Governor D Subbarao has said the central bank must prevail when it comes to the monetary policy and any disagreement should not matter as long as it exerts its autonomy.
Expressing surprise at RBI Governor Raghuram Rajan's decision to leave RBI and not seek an extension, former governor D Subbarao Monday said Rajan's continuance would have "immensely benefited" macroeconomic management of the country.
It was blockbuster Monday for stock markets as the BSE Sensex recaptured the 28,000-mark after 11 months and the Nifty closed at a 15-month high on hopes of GST bill passage and G20 policymakers agreeing on measures for boosting global growth.
he Reserve Bank is expected to cut key interest rate by 25 basis points at its policy review meet next month if prices of pulses fall and help push down agflation, a BoA-ML report said on Monday, even as it sees overall retail inflation in July to touch 6 per cent.
Investments into India's capital markets through participatory notes (P-Notes) slumped to the lowest level in nearly two years to Rs 2.10 lakh crore at the end of June, on account of a tight vigil on funds coming through this route.
The Reserve Bank of India (RBI) has penalised the Bank of Baroda (BoB) Rs 5 crore ($754,000) for irregularities in anti-money laundering (AML) provisions that came to light in October 2015 during its audit, the public sector lender said here on Monday.
As foreign funds returned as net buyers of Indian equities, two key market indices -- the sensitive index (Sensex) of the BSE and the Nifty of the National Stock Exchange (NSE) -- rebounded towards the latter part of the week on value buying to close with small losses.
PNB Housing Finance, which has set the ball rolling for a Rs 2,500-crore IPO, is looking to take its growth to the next level with a pan-India expansion to meet surging demand from tier-II and tier-III cities, a top company executive said.