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RBI for independent body for forex benchmark rate

RBI for independent body for forex benchmark rate

Last Updated: Wednesday, April 16, 2014, 22:13

The Reserve Bank Wednesday suggested setting up of an independent body for recommending benchmark foreign exchange rate to avoid any possibility of manipulation by bankers.

Give benefit of differential rate to MSE sector: RBI to banks

Give benefit of differential rate to MSE sector: RBI to banks

Last Updated: Tuesday, April 15, 2014, 22:14

The Reserve Bank on Tuesday asked banks to give the benefit of differential rate of interest to micro and small enterprises (MSE) on the basis of credit guarantee cover.

India's services exports in Feb at $13.16 billion

India's services exports in Feb at $13.16 billion

Last Updated: Tuesday, April 15, 2014, 22:08

India's services exports in February stood at USD 13.16 billion, slightly lower than a month earlier.

Retail, wholesale inflation rises in March; dashes hopes for rate-cut

Retail, wholesale inflation rises in March; dashes hopes for rate-cut

Last Updated: Tuesday, April 15, 2014, 20:31

While wholesale inflation in March rose to a three-month high of 5.7 percent, retail inflation inched up to 8.31 percent after softening for three straight months since December.

Sensex slumps 144 pts as inflation, IIP worries negate Infy gain

Sensex slumps 144 pts as inflation, IIP worries negate Infy gain

Last Updated: Tuesday, April 15, 2014, 17:19

Sensex Tuesday fell further by 144 points as investors booked profits at high levels after inflation soared to a three-month high for March dashing hopes of any rate cut by the Reserve Bank.

Rate cuts unlikely before March next: Bofa-ML

Rate cuts unlikely before March next: Bofa-ML

Last Updated: Tuesday, April 15, 2014, 15:14

US brokerage Bank of America-Merrill Lynch on Tuesday said its sees the first rate cut this fiscal only in March next as inflation is expected to fall only by December end on a decline in commodity prices driven by the US Fed tapering.

Costlier food items push inflation higher at 5.7% in March

Costlier food items push inflation higher at 5.7% in March

Last Updated: Tuesday, April 15, 2014, 13:27

The inflation in the food items, based on the wholesale price index (WPI), shot up by 9.9 percent in March as against 8.12 percent in the previous month.

RBI to shortly issue Rs 500, Rs 100 notes of 2014 printing yr

Last Updated: Sunday, April 13, 2014, 12:24

RBI said the design of these banknotes will be similar in all respects to Rs 500 and Rs 100 banknotes printed in Mahatma Gandhi series-2005 issued earlier.

India's forex reserves rise to $306.64 billion

Last Updated: Saturday, April 12, 2014, 14:59

The forex reserves have soared past USD 300 billion mark for the first time since December 2011.

Industry demands immediate rate cut as IIP declines in Feb

Last Updated: Friday, April 11, 2014, 22:02

Expressing disappointment over industrial production contracting by 1.9 percent in February, India Inc Friday demanded an immediate cut in lending rate by the Reserve Bank to boost the economy.

Recovery hopes fade as factory output, exports contract

Last Updated: Friday, April 11, 2014, 21:01

Dashing hopes of recovery, the factory output declined by 1.9 percent in February while exports dipped by 3.15 percent in March, prompting the industry to demand an immediate rate cut by the Reserve Bank to boost the economy.

First in FY14: RBI didn't buy dollars in Feb; sold $530 million

Last Updated: Friday, April 11, 2014, 15:54

For the first time in 11 months of 2013-14 fiscal, the Reserve Bank did not purchase any dollars at all in February from the market, but sold USD 530 million.