RBI may hike reverse repo rate by 0.25% in next week’s policy
The Monetary Policy Committee (MPC) may go for a hike of up to 0.25 per cent in the reverse repo rate at which the RBI absorbs excess liquidity and leave the repo rate at which it lends, to narrow the policy rate corridor, a British brokerage said on Thursday. “Growth concerns amid spread of the […]
Power consumption grows 2.6% in January
India’s power consumption grew marginally at 2.6 per cent year-on-year in January to 112.67 billion units (BU), showing the impact of local restrictions imposed by states amid the third wave of COVID-19. Power consumption in the entire January last year was 109.76 BU, which was 4.4 per cent higher than 105.15 BU in January 2020, […]
China’s energy crisis highlights weaknesses in Xi’s power plans
By Administrator_ India Capital Sands China’s energy crisis has highlighted weaknesses in one of President Xi Jinping’s top priorities — energy security — that could have ramifications for the power system for years to come. To avoid repeats of the chaos ravaging the world’s second biggest economy, the country will probably have to take major […]
Oil Ministry mulls reinstating subsidized LPG prices
By Administrator_ India Capital Sands The Ministry of Petroleum and Natural Gas is evaluating a threshold at which the subsidy on Liquefied Petroleum Gas (LPG or cooking gas) will be reinstated. According to a senior government official in the know, a survey is currently being conducted to determine the price at which maximum consumers will […]
Bank deposits rise 12% in FY21 on higher CASA growth
By Administrator_India Capital Sands Bank deposits grew 11.9 percent year-on-year during 2020-21 compared to 8.8 percent in 2019-20 on the back of high growth in the current account and savings account deposits, RBI data showed. The share of CASA deposits increased to 43.7 percent in March 2021 compared to 41.7 percent a year ago, according […]
State Bank of India to cut base rate by 5 bps to 7.45%, reduce PLR
By Administrator_ India Capital Sands Ahead of the festive season, the country’s largest lender, State Bank of India (SBI), has decided to cut its base lending rate by 5 basis points (bps) to 7.45 percent, effective September 15. Also, it has cut its prime lending rate by 5 bps to 12.20 percent. Last week, private […]
India’s retail inflation eases to four-month low of 5.3% in August
By Administrator_ India Capital Sands Retail inflation cooled to a four-month low of 5.3 percent in August from 5.59 percent in the previous month, led by subdued prices of food articles and a high base effect. Inflation based on the Consumer Price Index (CPI) remained within the Reserve Bank of India (RBI)’s tolerance band for the […]
PM announces Rs. 11,000 cr plan to make India self-sufficient in edible oil
By Administrator_ India Capital Sands As India’s import dependency on edible oil continues to rise, Prime Minister Narendra Modi, today announced an Rs 11,000 crore National Edible Oil Mission-Oil Palm (NMEO-OP) to make India self-sufficient in cooking oils, including palm oil. Modi also said while India has become self-sufficient in rice, wheat, and sugar, it was not enough as the […]
ADB lowers India’s economic growth forecast for this fiscal to 10%
By Administrator_ India Capital Sands The Asian Development Bank has downgraded India’s economic growth forecast for the current financial year to 10 percent on Tuesday, from 11 percent projected in April, on account of the adverse impact of the coronavirus pandemic. India’s GDP growth recovered to 1.6 percent in the last quarter of the fiscal […]
RBI offers hassle-free trading in govt bonds for retail investors
By Administrator_ India Capital Sands The Reserve Bank of India on Monday said retail investors can open an account with the central bank in few easy steps online to start trading in government bonds. The online portal for retail investors will give access to the bond trading platform available for institutional investors as well, and the retail investors can also […]