India to become USD 5 trillion economy, third-largest by 2027: RBI DG Patra

2023-09-21 16:19:35 India will be a USD 5 trillion economy and the third largest in the world by market exchange rates by 2027, aided by the demographic advantage and pace of financial sector development, Reserve Bank Deputy Governor Michael D Patra has said. Delivering a speech at the 16th SEACEN-BIS High-Level Seminar hosted by the … Read more

Reserve Bank of India’s liquidity withdrawal pushes bank CD issuances to 3-month high

2023-08-28 10:07:23 The Reserve Bank of India’s move to withdraw liquidity from the banking system has forced lenders to scout the market for funds, pushing up the issuances of certificates of deposits (CDs) to a three-month high for the previous fortnight. Banks raised over 350 billion rupees ($4.24 billion) via CDs in the fortnight ended … Read more

India at cusp of new private capex cycle; UP, Gujarat, Maharashtra, Odisha bagging most investments: Report

2023-08-31 12:45:49 The Indian economy is at the cusp of a new private capital expenditure cycle, a domestic credit rating agency said on Thursday. After analysing official data from 2005 to 2022, India Ratings and Research said Uttar Pradesh, Gujarat and Maharashtra continue to dominate fresh capex allocation, while Odisha is getting attention with projects … Read more

food inflation: India’s rate setters become cautious of surging food prices

2023-08-30 07:08:36 The Reserve Bank of India must ensure there’s no spillover from the surge in food prices, two monetary policymakers said, as the odds for a rate hike begin to build with inflation at a 15-month high. The central bank is targeting to keep inflation between 2% and 6% but the consumer price index … Read more

India inflation news: India inflation to stay above 6% target until October at least: economists

2023-08-29 11:11:16 India’s inflation rate will remain above the Reserve Bank of India’s upper tolerance band of 6% at least until October, according to a Reuters poll of economists who sharply upgraded their price-rise forecasts for this quarter. Consumer prices in Asia’s third-largest economy rose at the fastest annual rate in the 15 months in … Read more

Rupee outperforms EM Asia peers even as it approaches record low

2023-08-21 04:16:19 The Indian rupee is within a whisker of a record low, but it’s still a favoured emerging-market currency with some investors. A reserves stockpile of $600 billion, more than $16 billion worth of foreign inflows for stocks this year and economic growth forecast at 6.5% are among the reasons behind the optimism for … Read more