Inflation to be kept low while reforms implemented: RBI

There are expectations that the RBI would reduce interest rates at its next monetary policy review later this month


Reserve Bank of India (RBI) Governor Raghuram Rajan on Friday said inflation should be kept low not only now but also in the future, adding that reforms are needed for sustainable growth.
Rajan said at an event here that keeping inflation down and implementing reforms are needed for maintaining sustainable growth.
There are expectations that the RBI would reduce interest rates at its next monetary policy review later this month.
This has been reinforced with the US Federal Reserve deciding to hold its interest rates much against the earlier expectation they would be hiked.
On the US Federal Reserve's decision, Rajan said this could be due to concerns about the American economy.
He said the US may be waiting for more information before deciding on a rate hike.
Rajan also said the banks should quickly balance their books, adding there was need for a bankruptcy code to enable the lenders better handle their loan accounts.



Mahesh S Bhatt

1 year ago

Should we not recognise Raghuram Rajan Sirs fantastic contribution by holding the Indian Rupee to its lowest turbulence when other currencies went down by to 25%.

Brazil is degraded to Junk level by rating agency by Moody.

Do our Industrialst's (Government greasers) & Political class wants India to degrade to that levels.

High prices of Real Estates/Oil & Petrol/Surprising Onion Inflations/Potato inflations around elections well doctored or Engineered.

NPA across the key sectors Infrastructure/Airlines/Power/Telecom/Real Estate is not addressable by all Indians.Record inventories of unsold Commercial/ Residential.

God Bless Mahesh

Bengal declassifies Netaji files, kin says centre must follow

The Bengal government on Friday made public 64 files to help unravel the mystery behind his disappearance


Dubbing as "historic" the release of 64 files on Netaji Subhas Chandra Bose by the West Bengal government, his family on Friday also pushed for the declassification of files by the central government.
The Bengal government on Friday made public 64 files to help unravel the mystery behind his disappearance.
"Chief Minister Mamata Banerjee has done a great thing and now the Centre has no other option but to declassify the files it has," Netaji's grandnephew and family spokesperson Chandra Kumar Bose told the media here after the release.
The digitised version of the declassified 64 files were made available in a set of seven DVDs. The original files are housed at the Calcutta Police Museum. The files will be accessible to the public from Monday on a first-come-first-serve basis.
"The more important files that can unravel the mystery behind his disappearance are with the central government departments and the mystery can be solved only if those files are declassified," Chandra Kumar Bose said.
The files declassified on Friday consists 12,744 pages and are available to researchers and scholars.
They were handed over to the descendants of Netaji and media persons by Kolkata Police Commissioner S.K. Purkayastha at a small ceremony at the museum.
The first copy was handed over to Netaji's niece-in-law and former Trinamool Congress MP Krishna Bose.
Banerjee on September 11 announced her government's decision to declassify 64 files on Bose, saying the mystery surrounding his disappearance needs to be put to rest.
"Still the mystery surrounding Netaji's disappearance continues to be unsolved. So whatever files we have, we will declassify them which may help in unravelling the mystery.
"...all the 64 files that we have will be open for public. They will be kept at the city police archive," said Banerjee.
Chandra Kumar Bose said that Banerjee has "shown the way and now the Centre has to release the files."


Indian share markets toast US interest rate status quo

Both the Sensex and Nifty surpassed the psychologically-important levels of 26,000 points and 8,000 points, respectively


Relieved by the status quo in US interest rates, Indian share markets opened higher on Friday and flared up further, overshooting most Asian peers, as investors saw momentary respite from a potential shift of global funds away from emerging economies.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened on Friday at 26,130.36 points against Wednesday's close at 25,963.97 points -- Thursday being a festive holiday.
At 12.37 p.m., the index was quoting at 26,423.43 points, with a gain of 459.46 points or 1.77%.
At the National Stock Exchange (NSE), the trend was similar. The broader 50-scrip Nifty, which had closed at 7,899.15 points on Wednesday was quoting at 8,037.65 points, with a gain of 138.50 points or 1.75%.
Both the Sensex and Nifty surpassed the psychologically-important levels of 26,000 points and 8,000 points, respectively.
The gains were also broad based. But for six stocks, all 30 shares that go into the Sensex basket were trading in the green. Overall, out of 2,414 scrips that were trading on the Mumbai bourse, 1,732 of them advanced, 590 declined, while 92 remained unchanged.
Banking and realty stocks were in favour, as their sector-specific indices were up 3.30% and 3.91%, respectively. Eleven out of 12 sectoral indices were trading in the green.
"The trend-deciding level for the day is 25,929 and 7,889 levels," financial services firm Angel Broking said in a pre-open comment, referring to the Sensex and the Nifty, respectively.
"If Nifty trades above this in the first half-an-hour then we may witness a further rally up to 26,042-26,119 points and 7,924-7,949 points. But if they trade below 25,929 or 7,889 levels in the first half-an-hour, then they may correct towards 25,851-25,739 and 7,864-7,828 levels."
Till late Thursday, there was some fear of a rate hike in the US, which could have potentially seen a flight of capital from emerging markets like India to the US. In fact, during August and September, foreign funds have been net sellers of Indian equities worth Rs.20,225 crore. 
Even as the global financial markets speculated over when the US central bank will end its zero-interest rate policy, the Fed Chair Janet Yellen instead opted for a status quo. While she said the US recovery was solid, concern was expressed over the global economic situation.
The reaction was mixed in the Asian markets. Japan's Nikkei and Tokyo's broader Topix were down nearly 2%.
China's Shanghai Composite Index was fluctuating back and forth around the positive-negative territory initially. Later, it rallied by 0.23%. While Hong Kong's Hang Seng was up 0.30%, Korea's Kospi was quoting higher by 0.98%.
In the US earlier, trading was marked by sharp volatility as blue-chip stocks fell, bond prices rose and the dollar posted its steepest single-day loss in a month against a basket of currencies, as the investor mood turned sullen after the Fed's rate status quo and concerns over global economy.
All major indices took a beating -- 0.39% for Dow Jones industrial Average, 0.26% for S&P 500 and 0.1% for the Nasdaq Composite. The dollar index, measuring the greenback against six currencies, fell 1.1%.


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