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Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494
India

Coronavirus Outbreak Updates: 267 new COVID-19 patients reported in Rajasthan today, total number of cases rises to 6,494

Coronavirus Outbreak LIVE Updates: Two police stations have been sealed partially after a head constable was tested positive for COVID-19. According to police, the infected head constable was overseeing the arrangements to quarantine people who came from Mumbai.

Sensex plunges over 900 points, Nifty below 9,000-mark in afternoon trade; ICICI Bank, Bajaj Finance among top losers
Business

Sensex plunges over 900 points, Nifty below 9,000-mark in afternoon trade; ICICI Bank, Bajaj Finance among top losers

Power Grid was the major gainer in the Sensex pack at 7.33 percent followed by Sun Pharma (6.81 percent) HCL Tech (5.48 percent) and Tata Steel (4.85 percent).

RBI may not follow Fed with rate cut next month; rally in bond yields likely to prove premature: Economists
Business

RBI may not follow Fed with rate cut next month; rally in bond yields likely to prove premature: Economists

The RBI has repeatedly said there is space for more rate cuts if inflation eases. The February reading, to be released later in the month, might prove critical.

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das
Business

RBI Monetary Policy 2019 Updates: Forensic audit on PMC Bank scam expected by month-end, says Shaktikanta Das

If the Reserve Bank of India (RBI) cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this financial year.

Retail inflation at 16-month high: RBI likely to go for yet another rate cut despite CPI breaching central bank's medium-term target
Business

Retail inflation at 16-month high: RBI likely to go for yet another rate cut despite CPI breaching central bank's medium-term target

Most economists, however, expect the RBI’s MPC to look past the inflation data and cut rates for a sixth straight time next month with economic growth and industrial output sagging to six-year lows.

RBI likely to go for further policy easing in 4 October meet; inflation may stay within central bank's projection: Experts
Business

RBI likely to go for further policy easing in 4 October meet; inflation may stay within central bank's projection: Experts

It further said the RBI's FY'20 GDP growth projection of 6.9 percent "appears too optimistic" and is widely expected to be downgraded at the 4 October policy meeting.

RBI’s change in monetary policy stance is as good as additional 25 basis-point rate cut, says governor Shaktikanta Das
Business

RBI’s change in monetary policy stance is as good as additional 25 basis-point rate cut, says governor Shaktikanta Das

While the RBI has cut rates by 75 bps since the start of 2019, banks have only eased their key lending rate by 15-20 bps.

Gold prices zoom Rs 930 to Rs 35,800 per 10 gram on firm global cues after Fed chief hints at rate cut soon
Business

Gold prices zoom Rs 930 to Rs 35,800 per 10 gram on firm global cues after Fed chief hints at rate cut soon

Meanwhile, globally spot gold was trading at $1,420.80 an ounce. Similarly, silver was also up at $15.24 per ounce in New York.

Asian shares hit five-week highs, wager all on dovish Fed; US-China meet end of month revive trade hopes
Business

Asian shares hit five-week highs, wager all on dovish Fed; US-China meet end of month revive trade hopes

Asian shares hit five-week highs on Wednesday as investors hoped the Federal Reserve would follow the lead of the European Central Bank and open the door to future rate cuts at its policy meeting later in the day

RBI monetary policy: Sharp slowdown in investment activity, moderation in consumption growth matter of concern, says MPC
Business

RBI monetary policy: Sharp slowdown in investment activity, moderation in consumption growth matter of concern, says MPC

All six of the MPC members voted for 25 basis points cut, and for the policy stance to be changed to “accommodative” from “neutral”

RBI may slash repo rate by 25 bps in June amid subdued domestic industrial activity, global slowdown woes: Report
Business

RBI may slash repo rate by 25 bps in June amid subdued domestic industrial activity, global slowdown woes: Report

According to the report, on the domestic front, subdued industrial activity and uncertainty on trade will add to the delay in the revival of industrial investment.

Gold prices near four-month low as Fed Reserve stance boosts dollar; yellow metal on course for a weekly drop
Business

Gold prices near four-month low as Fed Reserve stance boosts dollar; yellow metal on course for a weekly drop

Spot gold was hardly changed at $1,272.01 per ounce. In the previous session, the yellow metal dropped to $1,265.85, its lowest since end-December.

US stocks down, S&P 500 snaps 3-day streak after comments from Fed chair Jerome Powell dampen rate cut hopes
Business

US stocks down, S&P 500 snaps 3-day streak after comments from Fed chair Jerome Powell dampen rate cut hopes

As Powell spoke, traders of US short-term interest rate futures began trimming bets the Fed will cut rates before the end of the year

RBI cuts repo rate by 25 bps: Analysts expect another reduction in June on growth concerns, lower inflation forecast
Business

RBI cuts repo rate by 25 bps: Analysts expect another reduction in June on growth concerns, lower inflation forecast

A reduction in June will make it three cuts in a row, after the second consecutive interest cut of 25 bps effected earlier in the day after a similar move in February.

Reserve Bank cuts repo by 25 bps: MPC's rate cut bonanza isn't over yet; expect more moves to spur the economy
Business

Reserve Bank cuts repo by 25 bps: MPC's rate cut bonanza isn't over yet; expect more moves to spur the economy

Lowering of the repo rate by the RBI has to get transmitted and for this to happen, deposit rates should be lowered so that the MCLR comes down

RBI cuts repo by another 25 bps: Central bank’s rate cut spree and the logic of keeping ‘neutral’ stance don’t add up
Business

RBI cuts repo by another 25 bps: Central bank’s rate cut spree and the logic of keeping ‘neutral’ stance don’t add up

In the current context, going by the indications and the language of the monetary policy, the RBI is in a clear accommodative stance.

RBI moves to stimulate growth, lowers repo rate by 25 bps; to come out with fresh circular on resolution of bad loans
Business

RBI moves to stimulate growth, lowers repo rate by 25 bps; to come out with fresh circular on resolution of bad loans

The RBI cut the retail inflation forecast to 2.9-3 percent for the first half of current fiscal, mainly due to lower food and fuel prices as well as expectation of a normal rainy season.