The petition on Change.org noted that the ingredient, brominated vegetable oil, has been...
The RBI in its last policy review had hinted at moderating its policy rate in January to stimulate growth
Oriental Bank of Commerce chairman and managing director SL Bansal said, “We are expecting 25 basis points (bps) cut in repo rate and cash reserve ratio (CRR) by similar percentage points”.
State Bank of
RBI in its last policy review had hinted at moderating its policy rate in the January policy meeting to stimulate growth.
Last week in
Inflation based on wholesale prices declined to a three- year low of 7.18% in December. However, retail inflation rose for the third successive month in December to 10.56%.
Industrial output contracted by 0.1% in November.
The economy grew by 5.4% in April-September this fiscal, as against 7.3% in the same period of 2011-12. It is estimated that the year-end GDP would be 5.7%, a 10-year low.
ICICI Bank MD and CEO Chanda Kochhar, last week, also said that RBI may lower its benchmark interest rates in the coming months as inflation has eased, pursuant to which banks may also lower their rates to some extent to pass on the benefit to customers.
“With inflation easing, I think that we would see policy rate cuts in the coming months,” Kochhar said.
According to Punjab National Bank CMD KR Kamath, banks would reduce interest rates if RBI cuts policy rates in the coming policy.
“If the rate of interest is reduced, probably the transmission will happen. Bankers have already been saying that transmission will happen if there is a rate cut,” Kamath said.
“While inflation concerns remain, growth is a bigger concern ... so, while we understand the issues related to inflation at this point of time, it was our recommendation that there should be a rate cut so that growth comes first,” HDFC Bank MD Aditya Puri said.
RBI had last reduced short-term lending (repo) rate in April, 2012 and stands at 8%. In October, the RBI had reduced cash reserve ratio (CRR)—the portion of deposits banks have to mandatorily park with the central bank—by 25 basis points to 4.25%.
According to CMIE, telecom user base in India is expected to increase in the next fiscal on the back of the rural thrust of operators
Mumbai: Despite a steep fall in the customer base over the past few months, telecom companies are likely to add 48.9 million new subscribers in FY2013-14 with their emphasis on deeper penetration in rural areas, reports PTI quoting a study by Centre for Monitoring Indian Economy (CMIE).
The recent fall in subscriber base—nearly 36 million—is mainly due to the implementation of mobile number portability (MNP) and the clean-up exercise by service providers, said CMIE in its report.
The telecom user base is expected to increase in the next fiscal on the back of the rural thrust of the operators, it said.
“During 2013-14, service providers are expected to add 48.9 million new subscribers. Most of these would be from rural areas,” it said.
While the urban areas are “over-penetrated” with a tele-density of 159.5%, that in rural areas is just 40.6%.
“This indicates that these areas hold lot of opportunities for the operators to grow subscriber base,” it said.
However, in the current fiscal, it expects telcos to lose 35.9 million subscribers to 915.5 million. The fall would be partly because of the clean-up exercise by mobile service providers and also because of the exit of some who have lost licenses.
Since the implementation of MNP in January 2011, over 75 million subscribers have opted for transfer. Also, around 30 million users had their connections disconnected during July-October last year due to clean-up activity by service providers.