GoI not to impose fresh import duty on gold
The Dollar Business Bureau Gold is India’s second highest import item in terms of values, and the spike in its imports had widened the current account deficit in 2013, sparking the country’s worst currency turmoil since a balance of payment crisis in 1991. India and China are the world’s largest buyers of gold. But after the massive selling in the Shanghai gold exchange on Monday, the gold prices have seen a downward spiral in the recent past and stooped to a five-year low. Although the traders hoped that the metal would perk up in India or elsewhere in Asia. A fresh round of the purchase of gold is expected from the households, as it is still considered the best and safe investment ...
RBI to maintain status quo on August 4; rate cut by March 2016: Morgan Stanley
Source: PTI The Reserve Bank is likely to keep interest rates on hold in the next month's monetary policy meet, but may slash the key lending rate by a 50-75 basis points by March 2016, Morgan Stanley today said. The investment firm believes that the RBI will leave the interest rates unchanged in its August 4 policy review meet given the acceleration in June headline CPI inflation and increase in core CPI for the third consecutive month. "We believe the RBI is likely to wait and watch how the monsoon season pans out and keep rates on hold in the August monetary policy meeting," Morgan Stanley said. The brokerage however expects the headline CPI inflation to decelerate to 4.9 per cent by ...
