Bank lending rates set to rise further on expected RBI tightening, say experts

A clutch of lenders have hiked their external benchmark lending rate (EBLR) after RBI’s rate increase. The repo rate, or the rate at which the RBI lends funds to banks, currently stands at 5.90 percent. Consumer EMIs are likely to rise further in the coming months.
#RBI #News #Business #Economy


Yesterday

Xiaomi India ED case: Company says all ‘payments’ done via RBI-approved banking channels

The ED seized the assets for alleged violations of foreign exchange regulations. ED claimed the company remitted large amounts of money abroad to related entities without actually using any services from them. The company denies that it holds any assets outside of India.
#XiaomiIndia #RBI #India #News #Business #Economy


Yesterday

Stocks to buy today, October 3: Bharti Airtel, ICICI Lombard, IRCTC, Eicher Motors among top 20 picks for profitable trade

Sensex gained over 1000 points to end at 57,426.92 and Nifty advanced 276.20 points or 1.64% to finish at 17,094.30. The benchmark indices snapped the losing streak after the RBI hiked interest rates by 50 basis points on expected lines. SGX Nifty - which is traded on the Singapore stock exchange - was down by over 160 points at 8:10 am.
#Sensex #Singapore #News #Business #Markets


Yesterday

Inflation may fall to 5.2% next fiscal on normal rains, ease in supplies: RBI report

The Reserve Bank of India expects retail inflation to come under control at 5.2 per cent in the next financial year beginning April. The central bank is mandated to keep retail inflation in a range of 2-6 per cent. Inflation has been above the RBI's upper tolerance level since January 2022 mainly due to adverse supply shocks.
#ReserveBankofIndia #News #Business #Economy


2 days ago

LIC HFL hikes lending rate by 0.50%

Mortgage lender LIC Housing Finance hiked lending rates by 0.50 per cent. The move comes hours after a similar move by the RBI. It is the fourth straight increase since may.
#LICHFL #News #Business #PersonalFinance


3 days ago

Currency: Decoded: Currency volatility and its trend to current equity market - The Economic Times

The depreciating rupee influences the domestic economy as well as the stock market. The currency fluctuates due to several factors such as change in demand & supply of goods & services, change in the cost of the economy, rise & cut of interest rates, and inflation. India has a floating exchange rate system where rates are market-based with minimum interference by RBI.
#TheEconomicTimes #India #News #Business #Markets


3 days ago

Market ends the week down 1% amid FII selling, rate hike by RBI

The BSE Sensex declined 672 points or 1.34 percent to close at 57,426.92. The Nifty50 shed 233 points or 14% to end at 17,094.3 levels.
#RBI #BSESensex #Nifty50 #News #Business #Markets


3 days ago

Raising the rate and the bar

The announcement to raise the key policy rate by 50 bps met the majority market expectations head-on. This sums up the rate decision of the Reserve Bank of India (RBI)
#ReserveBankofIndia #News #Business #PersonalFinance


4 days ago

RBI’s 50-bps repo rate hike: Loans to turn costlier for borrowers, depositors set to benefit

This is the fourth consecutive repo rate hike this financial year. The cumulative hike since may 2022 now stands at 190 bps. Retail inflation has hovered above the upper limit of RBI’s tolerance band.
#RBI #News #Business #PersonalFinance


4 days ago

Indian shares surge on RBI rate hike to close best quarter in a year

The index ended up 1.6% at 17,094.35, and the S&P BSE Sensex gained 1.8% to 57,426.92. Both the indexes posted their biggest percentage jump in a month, breaking a seven-day losing streak.
#S&PBSE #Indian #News #Business #Markets


4 days ago

Market WRAP: Nifty closes at 17,100; Sensex soars over 1,000 points post-RBI meet - Dalal Street Investment Journal

Nifty jumped 1.64 per cent to close at 17,000 while Sensex soared 1,015 points. All sectors closed higher with financials, energy, and metals being the top performers.
#Nifty #RBI #News #Business #Markets


4 days ago

RBI Monetary Policy: Central bank expects Current Account Deficit to come under 3% in FY23

The CAD will modestly widen in the first half of the fiscal year and narrow in the second half, Deputy Governor Michael Patra said. The comments come a day after official data released by the Reserve Bank of India (RBI) showed that CAD widened in FY22 to 2.8 per cent of GDP.
#MichaelPatra #RBI #News #Business #Economy


4 days ago

How RBI has cut the growth rate by raising it

RBI has cut India’s GDP growth rate for the current financial year (2022-23) from 7.2% to 7%. One raised the repo rate (or the rate at which it lends money to the banking system) two, it has cut the growth rate by 50 basis points.
#RBI #India #News #Business #Economy


4 days ago

Metals, energy lift markets higher; RBI actions eyed

The Nifty 50 index rose 0.6% to 16,948.50 as of 0511 GMT. The S&P BSE Sensex gained 0.5% to 56,864.11. Global equities staged a partial comeback after central bank launched emergency bond buying programme.
#RBI #Nifty50 #GMT #News #Business #Markets


5 days ago

INDIA STOCKS Indian shares end lower for seventh session; await RBI policy

The index fell 0.24% to 16,818.10, while the S&P BSE Sensex dropped 0.33% to 56,409.96. Investors pedalled into another cycle of selling on Thursday as the dollar tightened its hold on the currency markets. If the rate hike is above the estimate, then we could see bouts of intra-day volatility with a negative bias for some more time.
#INDIA #Indian #News #Business #Markets


5 days ago

LIVE: RBI Monetary Policy Review Meeting - MPC to recommend another hike? Announcement Date, Time, Expectations, Possible Outcomes

The MPC will continue to front load its rate hikes and will likely raise the Repo rate by another 50 bps in its upcoming policy. India’s retail inflation rate has been above the RBI’s tolerance band for eight months now and is unlikely to come down before Q4 of FY23. The real policy rate remains in the negative territory.
#MPC #India #News #Business #Economy


6 days ago

India Forex Reserves Set to Shrink Further, Stir Memories of 2008 Crisis: Poll

The RBI has drawn down its foreign exchange reserves by nearly $100 billion to $545 billion from a peak of $642 billion a year ago, and more is coming. If realised, that would be the lowest level in over two years. Forecasts were in a $500-540 billion range, suggesting the RBI will run down forex reserves at a rate last seen during the global financial crisis of 2008.
#IndiaForex #News #Business #Economy


6 days ago

Cautiously optimistic on markets

India’s fundamentals are strong But Indian markets have already discounted that and valuations are expensive The depreciation of the rupee can cause instability RBI may be forced to raise policy rates beyond levels warranted by domestic inflation alone. There’s still a lot of complacency in Indian markets.
#RBI #Indian #India #News #Business #Markets


6 days ago

Stock Market Live: RBI Policy Meet, More Volatility In Store? Torrent Pharma, Mahindra CIE in Focus

Torrent Pharma, Mahindra CIE in Focus European markets closed mixed as traders reacted to rising commodity prices and uncertainty. The RBI policy meet kicks off today.
#TorrentPharma #European #News #Business #Markets


6 days ago

Stock Market Live Updates: Sensex And Nifty50 Likely To Open Sharply Lower Today — Rbi'S Rate-Setting Panel To Begin Meet

Singapore Exchange (SGX) Nifty futures fell as much as 195.5 points or 1.1 percent to 16,859.5 ahead of the opening bell on Dalal Street. Investors awaited the outcome of a key meeting of the RBI's Monetary Policy Committee due this week.
#SingaporeExchange #News #Business #Markets


6 days ago