The central bank of India is looking into a phenomenon of a massive surge in the public cash during the election period. Election expenses and cash gifts for voters are among the factors speculated to contribute to the cash spike.
Raghuram Rajan
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The Reserve Bank of India (RBI), India's central bank, has reduced repo rate by 25 basis points to 6.50 percent, indicating an over five-year low. After the rate cut, home loans will be cheaper by half a percentage.
Arun Jaitley, India's Finance Minister, has voiced for a possible interest rate cut ahead of Reserve Bank of India's (RBI) review meeting next week, while focusing on controlling fiscal deficit. The Centre has already slashed interest rate on small savings making more conducive weather for lending rate cut.
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
The Reserve Bank of India (RBI) Governor Raghuram Rajan's latest measure to slash benchmark repurchase rate is finally giving results as commercial banks started cutting down interest rates.
India's dominant services industry contracted for a second month in June as new business again declined, suggesting Asia's third-largest economy is struggling to maintain growth, a survey showed on Friday.
Prices of many foodstuffs are surging in India, despite a good start to monsoon rains - an unexpected boon for wholesalers, but a major headache for the central bank and a government hoping for its help to reboot the economy.
The Reserve Bank of India is facing a fork in the road for the first time since Governor Raghuram Rajan took office amid much fanfare and started targeting inflation as the central bank’s primary mandate.
Governor Raghuram Rajan of the Reserve Bank of India has reiterated concerns about the stability and credibility of virtual currencies like the Bitcoin, TechCrunch reported.
The Reserve Bank of India (RBI) allowed local banks to borrow overseas up to 100% of their Tier I capital.
Reuters columnist James Saft wrote in his latest column that a reform change, and not a new central bank governor, could help the falling rupee and the Indian economy.
