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.
The recent market crash in Indian stock markets is driving funds from equities to mutual funds (MFs). As a result, fixed income mutual funds are witnessing increased inflows of funds amid ongoing bear market.
The Indian currency Rupee against the US dollar rose to highest since November 2015 on increasing outflows from Indian stocks and bonds. The Chinese markets were witnessing selloff and this also resulted in further withdrawal by foreign investors in Indian markets. The net outflow from Indian markets in January so far was at $686.2 million putting more pressure on currency reserves.
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.
Indian currency Rupee seems to be heading for its biggest drop since 2013 as INR continued to drop for the third consecutive session following the selling pressure in riskier assets owing to renewed growth concerns on Asia.
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.
India is planning to issue sovereign bonds linked to the bullion price in an effort to divert some of the estimated 300 tonnes of annual demand for gold bars and coins, and reduce bullion imports that can push up the trade deficit.
India's economy grew faster than China's in the quarter through March, data showed on Friday, but a sharp downward revision for the previous quarter fuelled doubts about the accuracy of a new method used to measure economic activity.
For Indian business, the government and the central bank, data revisions that have transformed the country's $2.1 trillion economy into one of the world's fastest growing are too good to be true.
India is betting that mobile phone vendors, fuel stations and corner stores can help it put basic banking within the grasp of hundreds of millions of its poor people living beyond the reach of traditional bank branches.
India's central bank has allowed conglomerate Tata Sons Ltd [TATAS.UL] to buy Japanese telecom firm NTT DoCoMo Inc's (9437.T) stake in their struggling Indian venture, paving the way for the completion of the long-delayed $1.1 billion deal.
Waiting for the right moment to cut interest rates, India's central bank faces a problem over public perceptions that price rises will return to double-digits even though forecasts show retail inflation fell to a record low of 4.5 percent last month.
JPSML A/c Copthall Mauritius Investment acquired a 0.6% stake in Mumbai, India-based clothing retail chain Future Retail for INR13.5 crore at INR91.88 apiece on the National Stock Exchange.
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.
A meeting of local and state financial authorities relate the possible misuse of Urban Cooperative Banks by unscrupulous money launderers.
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