Bond dealers in Mumbai, India’s financial capital, have started enjoying their Friday evenings once again. Despite a record-high Rs.5.
Ever since Pratip Chaudhuri took over the reins at State Bank of India in April 2011, he has presided over nine quarterly earnings announcements; the stock has slumped immediately after the numbers were unveiled on seven of these occasions, as it did on Thursday. One of the announcements was on a Saturday, when the markets are closed. The stock loss varies between 1.
Ousted Citigroup Inc. chief executive officer Vikram Pandit ’s return to banking is creating excitement in the Rs. 75 trillion Indian banking industry, but there may not be too many takers for permits because of regulatory reasons and some licensing norms that many companies say will come in the way of creating value.
On Wednesday, India’s benchmark stock indices rose to their highest levels since January 2011 and government bond prices rose and yields dropped to their lowest in more than three years. The main trigger was the Reserve Bank of India (RBI) governor’s statement the he would consider softening inflation while deciding on policy action on 17 June, when the central bank is due to announce its mid-quarterly policy for fiscal 2014. Did governor D.
Gushing over finance minister P. Chidambaram’s budget, K.V.
Inflation based on the wholesale price index (WPI) dropped below 5% for the first time in three-and-a-half years, creating room for the Reserve Bank of India (RBI) to consider further monetary easing in June when it announces the first mid-quarter review of monetary policy this fiscal. At 4.89%, the April inflation number is at its lowest since November 2009 and about half a percentage point less than what many analysts had expected.
India’s central bank is set to open doors to a set of private and state-run entities in the banking space in Asia’s third largest economy. The objective behind doing this, almost a decade after companies were last allowed to float banks, is the so-called financial inclusion or expansion of banking services in a nation of 1.2 billion people where 40% of the adult population still does not have access to banking.
Mumbai: Hours after cutting the policy rate by a quarter percentage point to 7.25% in the annual monetary policy for fiscal 2014 on 3 May, the last of his tenure, Reserve Bank of India (RBI) governor D. Subbarao , in an interview with Mint , said: “I cannot say absolutely (there is) no space (for monetary easing in future).