Search Result for : Interest Rate

By Manishika Miglani It’s been three years since the Narendra Modi-led government came into power and announced a slew of measures to revive the investment climate of the country since then. In an interview with The Dollar Business, G.V.L. Narsimha Rao, Spokesperson, BJP, talks about the performance of the government, so far, and the party’s roadmap for further leveraging the business sentiment of the nation. TDB: The government has focussed on consolidating the investment scenario of the country? Has it been successful in achieving its targets? G. V. L. Narsimha Rao (GVL): At a time when global FDI inflows have turned negative, India has experienced the highest growth in the sector in the last three years. So, our government has been very successful ...

The Dollar Business Bureau Oil prices have steadied on Thursday after Saudi Arabia was confident that OPEC was moving towards a common decision on oil production. US crude futures were unchanged at $44.70 a barrel after a steep fall $1.65 in the previous session. Oil had dipped low, extending losses in Asia on Wednesday on the back of a strong dollar while Iran's oil minister made a statement that his country planned to boost output ramped up oversupply worries. According to Bijan Zangeneh, an informal meeting of Organization of the Petroleum Exporting Countries (OPEC) during September may not close a deal that would hike the oil prices. He said that Iran requires raising its production capacity to recapture the market share. ...

The ECB expanded the monthly purchases bond under the asset purchase programme to 80 billion a month from its earlier 60 billion a month starting in April and intended to run until March 2017. The Dollar Business Bureau The European Central Bank (ECB) reduced its marginal lending facility rates and its deposit facility rates.   Concerned over fresh fears of aneconomic meltdown in Europe, the European Central Bank (ECB) on Thursday cut interest rates to an all-time low to zero across the euro zone and decreased two other interest rates. On Thursday, a 25-member Governing Council held a meeting in Frankfurt, Germany and announced a slew of unprecedented initiatives to revive its stalled economy. The interest rate on the main refinancing operations of the ...

The Dollar Business Bureau   As the US Federal Reserve is likely to increase the interest rate on Wednesday for the first time since 2006, Moody’s Investors Service on Tuesday said the move may pose a threat to some emerging markets. According to analysts, the US central bank in its Federal Open Market Committee (FOMC) meeting to be held on Wednesday is expected to announce a hike of a quarter percentage points in the short-term interest rate. While the move would “confirm that the US economic expansion remains on track”, higher rates could bring “risks to some emerging market sovereigns”, said Moody's Investors Service. The direct impact of any rate increase on the US economy should be minimal as the US ...

The Dollar Business Bureau Days after the RBI slashed interest rate by 50 basis points, an industry body has sought special dispensations from the government to protect India’s key industries including real estate, power, steel, and gems and jewellery sectors.  The industry body has asked the government to cut excise duty and take other accommodative measures like teaser loans for the housing sectors to bail these industries out of crisis.  “For creating additional demand, the government will have to chip in with, rather bold measures and create extra elbow room for the selected industries by way of extending short tenure stimulus on construction material like steel, cement, power equipment while for the gems and jewellery, export sops like interest subvention must ...

Source: PTI Within couple of hours of rate cut by the Reserve Bank, country's largest lender SBI slashed its lending rate by 0.40%, while the largest private sector lender ICICI Bank hinted at cutting its base rate by at least 0.25%. “Clearly, interest rates will come down, base rates will come down. A large part of the cut will get transmitted. When I say a large part of the thing (repo rate) will get transmitted, it should mean more than half,” ICICI Bank's managing director and chief executive Chanda Kochhar told reporters at the RBI headquarters. SBI chairman Arundhati Bhattacharya was not present at the customary post-policy press conference organised by banking industry lobby grouping IBA, but her bank announced a ...

Himanshu Vatsa Bureau | The Dollar Business The Reserve Bank of India on Tuesday reduced the repo rate by 0.5%, triggering hope to enhance the domestic investment cycle and push growth. “On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points from 7.25% to 6.75% with immediate effect,” the RBI said in its fourth bi-monthly monetary policy for the current financial year. A cut of 50 basis points is the steepest in four-and-half-years. Earlier, the central bank had reduced the repo rate by 75 basis points in three tranches during this fiscal. Justifying the reduction, RBI Governor Raghuram Rajan said that ...

Source: PTI The government and RBI are prepared to deal with any eventuality arising out of the US Federal Reserve's action on interest rates later this week, the Finance Ministry said on Monday. “The government and RBI, we are prepared for all eventualities, as and when the situation emerges. I am confident we will be able to deal with it,” Economic Affairs Secretary Shaktikanta Das said at an ICRIER event in New Delhi. He was replying to a query on whether the government is prepared to deal with the challenges posed by a possible interest rate hike by the United States on September 17. “The US policy stance is something which has been expected for the past two years or so. ...