Raghuram Rajan denies disconnect with Finance Ministry over PDMA

RBI Governor Raghuram Rajan today asserted that Union Finance Minister Arun Jaitley is on the same page as him on creating a Public Debt Management Agency - PDMA. Speaking to reporters at the customary post-policy press conference in Mumbai, Dr. Rajan said it would be unwise to move things away from...

RBI allows banks to invest in infra bonds of other lenders

In a bid to boost infrastructure development, the Reserve Bank has allowed banks to invest in long term infra bonds of other lenders. In a notification yesterday, the RBI said that after a review, it has been decided that henceforth, banks can invest in the long term bonds issued by other banks. How...

Policy of cutting key rates neither aggressive nor conservative: Raghuram Rajan

Industry bodies welcome reduction in repo rate

Industry bodies have welcomed the reduction in repo rate. In a statement, Director General of Confederation of Indian Industries, CII Chandrajit Banerjee said, the reduction is very much in line with industry expectations and reinforces the perception that the government and the RBI are working in u...

US stocks closed sharply lower

U.S. stocks closed sharply lower, as investors weighed the ongoing Greek debt crisis and a disappointing report showing that the US economy shrank in the first quarter. Economists are looking ahead to the June 5 release of the jobs report for May, after U.S. employers rebounded and created more jobs...

ATF price hiked by 7.5%; Non-subsidized LPG by Rs 10.50

Jet fuel price was hiked by a steep 7.5 per cent and rates of non-subsidized cooking gas (LPG) by Rs 10.50 per cylinder in step with global firming of rates. Oil companies announced that price of aviation turbine fuel (ATF), or jet fuel, in Delhi was raised by Rs 3,744 per kilolitre, or 7.54 per cen...

Core industries' output declines 0.4% in April

Shrinking for the second straight month, output of the country's eight core sector industries contracted by 0.4 per cent in April this year, on poor performance of most sectors. Core sector output had declined by 0.1 per cent in March this year, and had grown 5.7 per cent in April last year...

Core industries' output declines 0.4% in April

The output of eight core industries declined by 0.4 per cent in April this year on poor performance of electricity, cement, refinery products and fertiliser sectors. Coal and steel were only two sectors which registered some growth during the period. The output had declined by 0.1 per cent in March ...

ATF price hiked by 7.5%; Non-subsidized LPG by Rs 10.50

Jet fuel price was hiked by a steep 7.5 per cent today and rates of non-subsidized cooking gas (LPG) by Rs 10.50 per cylinder in step with global firming of rates. Oil companies announced that price of aviation turbine fuel (ATF), or jet fuel, in Delhi was raised by Rs 3,744 per kilolitre, or 7.54 p...

Service tax to go up to 14 % from tomorrow

Service tax will go up to 14 percent from Monday.Some of the key services that will attract higher tax and hence become costlier are railways, airlines, banking, insurance, mobile, advertising, architecture, construction, credit cards, event management and tour operators.According to railway ministr...