Fitch Ratings retained its sovereign rating for India at the lowest investment grade of BBB negative, and trimmed its outlook to ‘negative’ from ‘stable’, citing a sharp Covid-induced deterioration of the country’s growth and fiscal metrics. In a statement, Fitch said: “The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed […]
The Covid-19-triggered lockdown has resulted in a drastic fall in sugar consumption across the country, as most sweetmakers were on a sabbatical. The lockdown has also accumulated farmer arrears. Against such stark realities, the central government is believed to have advised the Reserve Bank of India (RBI) to remove the beleaguered sugar sector from its […]
In addition to the benefit of borrowing costs being reduced in the light of the liquidity enhancement resulting from the monetary steps unveiled by the RBI, the state governments can now withdraw funds from the reserves kept by them with the RBI to meet exigencies. The relaxation of withdrawal norms for the so-called consolidated sinking funds […]
The Reserve Bank of India (RBI) announced a second cut of the year in its key policy rate to help ease the pain of a country battered by weeks of nationwide lockdown due to the coronavirus pandemic, and said the economy would shrink this year. RBI Governor Shaktikanta Das said in a video conference on […]
The macroeconomic risks held forth by the Covid-19 outbreak would be severe for India, the Reserve Bank of India (RBI) said in its monetary policy report. The impact of the pandemic came at a time when the economy was just at the turn of a recovery, “but Covid-19 now “hangs over the future, like a spectre,” it […]
The Reserve Bank of India (RBI) bought 7.5 tonnes of gold in October 2019 for adding to its foreign exchange reserves, which swelled to $461 billion, including $28 billion in gold. The purchase was made after five months, the World Gold Council (WGC) said. The RBI now holds 625.2 tonnes of gold or 6.6 per […]
Gold is set to remain more expensive in the New Year as continuing geopolitical tremors, economic woes and rupee volatility are expected to push the yellow metal even to Rs 45,000 for 10 gram, says a PTI report. Thanks to various government policies and soaring stock market, gold witnessed periodic as well as steep price fluctuations in […]
After onion prices meteoric surge, cooking oil is also expected to hit the grocery bills of Indian households as edible oils have registered a rising trend due to costlier imports. Prices of almost all edible oils have increased and due to “costlier imports from Malaysia and Indonesia, edible oil prices are likely to see a […]
India’s real GDP growth in the 2019-20 fiscal is expected to be slightly below 5 per cent as the impact of stimulus measures will take time to filter through to the economy, IHS Markit has said. The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth […]
The Reserve Bank of India (RBI) on Thursday kept the interest rates unchanged, pausing after five straight cuts, but lowered the country’s economic growth forecast for the 2019-20 financial year to 5 percent from an earlier 6.1 percent. The RBI also raised its inflation forecast for the second half of the year to between 5.1-4.7 […]
