The government will sell up to 25 per cent stake in National Seeds Corporation (NSC) through an initial public offering (IPO), and has invited bids from advisors to assist it in the process. The public sector company comes under the administrative control of the Ministry of Agriculture and Farmers Welfare, and produces certified seeds of nearly 600 […]
The gold reserves of Reserve Bank of India (RBI), India’s central bank stood at 705.6 tonnes as on June 30. The gold reserves were at 558.1 tonnes in the beginning of 2018 The Reserve Bank of India (RBI) has increased its gold purchases, as part of its foreign exchange (forex) reserves. In the first half […]
A consortium of lenders led by IDBI Bank has invited bids by the end of this month to sell the foreign currency debt of JBF Petrochemicals worth $463.38 million (Rs 3,455.43 crore). The outstanding debt of JBF Petrochemicals includes $307.30 million in external commercial borrowing (ECB) and $156.08 million of foreign currency term loans (FCTL). The consortium […]
A rise in petrol and diesel consumption can help the government slash cess on the fuels by Rs 4.50 a litre without impacting revenue collections of FY21, rating agency ICRA said. The reduced cess would also help cool off the pressure on inflation. Petrol consumption is estimated to increase by 14 per cent in 2021-22 […]
India’s economic recovery will depend on the speed and scale of vaccination in the country, the Reserve Bank of India (RBI) said in its monthly bulletin released on its website on June 16. “Going forward, the speed and scale of vaccination will shape the path of recovery. The economy has the resilience and the fundamentals to […]
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced it would maintain the status quo on its key rates. RBI governor Shaktikanta Das said that it was decided to keep the repo rate and the reverse repo rate unchanged at 4 per cent and 3.35 per cent respectively to […]
Demand-supply imbalances may continue to exert pressure on food items such as pulses and edible oils, and the prices of cereals may soften going forward on the back of bumper foodgrains production in 2020-21, the Reserve Bank of India (RBI) said in its recently released Annual Report. The apex bank expects the global crude oil prices to […]
The Central government has started the process of borrowing with the launch of sovereign gold bonds in consultation with the Reserve Bank of India on Wednesday. The government has issued Sovereign Gold Bonds in six tranches between May and September 2021. “The Government of India, in consultation with the Reserve Bank of India, has decided […]
Inflation measured by wholesale price index (WPI) shot up to 7.39% in March 2021, the highest rate since October 2012, primarily on higher prices of crude oil, but also aided by a low base. Rise in prices of some manufactured goods and food items like pulses and fruits also pushed the index. Retail (CPI) inflation […]
The Reserve Bank of India (RBI) kept the benchmark repo rate unchanged at 4% and vowed to maintain monetary easing as long as required to recover from the impact of the Covid-19 pandemic. The central bank’s decision follows a fresh wave of Covid infections across the country forcing partial lockdowns in the financial hub Mumbai and […]
