Despite inflation, RBI to cut rates in Aug: BofA-ML
The Dollar Business Bureau Bank of America Merrill Lynch (BofA-ML) said on Friday that it expects a rate cut by the Reserve Bank of India (RBI) in its policy announcement in August. The data put out by the RBI recently revealed a hike in headline inflation in the month of April it said. BofA-ML said that the reading of 5.4 percent is just a little above 5.3 per cent, as estimated. A poor winter crop (Rabi crop) could sustain inflation between 5 percent and 5.5 percent till the month of June. However, if prices of oil ease down to $39 per barrel, the inflation rate may further go down to less than 5 percent, it said. The Bank ...
Impact of Greece crisis on Indian IT manageable: Expert
Jayarama Emani | The Dollar Business In the era of globalisation, any major impact for any country would affect the global trade. However, the impact of the Greece crisis on Indian IT industry is manageable, said an IT expert. Speaking to The Dollar Business, J A Chowdary, Chairman, Talent Sprint Private Limited and Co-Chairman, FICCI-AP Chapter, said “European Union economy is a very important component in the current global trade & economy. Any adverse situation caused by Greece will impact EU economy. Hence, companies doing business with EU countries will be affected. However, at this point of time, India's position in the global trade & commerce is very positive, it being an ideal investment destination. Therefore, the crisis is manageable.” ...
