Category «Economy»

UBI cuts home loan rate to its lowest at 6.4%

By Administrator_ India Capital Sands Escalating competition in the festive season, public sector lender Union Bank of India has slashed interest rate on home loans by 40 basis points. The minimum rate of interest now starts at 6.40 percent, instead of 6.8 percent earlier. The reduced rate will be effective from October 27. Union Bank said …

Inflation woes keep central banks at a fix over monetary policy moves

Inflation woes keep central banks at a fix over monetary policy moves

By Administrator_India Capital Sands Indranil Pan, Chief Economist at YES Bank Inflation has been running red hot in many economies of the world. However, Covid-19 was expected to have slowed consumption and built up precautionary savings. The messaging from the central bankers around the world has been that the supply chain disruptions lie at the …

Inflation pullback boosts RBI’s easy money policy before Oct policy meeting

Inflation pullback boosts RBI's easy money policy before Oct policy meeting

By Administrator_India Capital Sands India’s headline rate of inflation eased in August as food prices cooled, boosting the case for the central bank to keep interest rates lower for longer to support economic growth. Consumer prices rose 5.3% last month from a year earlier, the Statistics Ministry said in a statement on Monday. That was the slowest rate since …

Govt move to undo retrospective tax law means India to forego tax demands of Rs 50,000 crore

Govt move to undo retrospective tax law means India to forego tax demands of Rs 50,000 crore

By Administrator_India Capital Sands While the government has made the first move to nullify all retrospective taxes, till recently it had demanded upwards of Rs 50,000 crore from British telecom major Vodafone and energy giant Cairn. Introducing the Taxation laws (Amendment) Bill in the Lok Sabha on August 5, the government has sought to nullify …

Monsoon expected to be normal in August-Sept after prolonged dry spell

By Administrator_ India Capital Sands Following a prolonged dry spell that broke with heavy rains lashing several parts of the country since mid-July, the performance of the southwest monsoon in the remaining two months of the season is expected to be normal, the India Meteorological Department said today. This augurs well for the progress of Kharif sowing and …

India’s economy may have grown 22.1% in Q1, but demand is still low: RBI

Five things to note as RBI gears up for Friday policy decision on rates

By Administrator_India Capital Sands The tapering of the second Covid-19 wave, coupled with an aggressive vaccination push, has brightened the near-term prospects for the Indian economy, and real gross domestic product (GDP) growth is estimated at 22.1 per cent in the April-June quarter, the Reserve Bank of India (RBI) said in its July bulletin on Thursday. “A …

Dollar pauses as rate hike fears ebb, Fed minutes up next

Dollar holds upper hand after retail sales boost

By Administrator_India Capital Sands The dollar took a breather on Monday, after recent gains ran into a speed bump when details of last week’s U.S. jobs report soothed jitters about the timing of U.S. interest rate hikes. While the headline June job creation figure beat forecasts, unemployment ticked higher, workforce participation didn’t budge and the …

Bonds stung, dollar cheered by sudden hawkish turn at Fed

Asia stocks mixed, U.S. inflation test looms

By Administrator_India Capital Sands Asian equities fell to a three-week low on Thursday after the U.S. Federal Reserve stunned investors by signalling it might raise interest rates at a much faster pace than assumed, sending bond yields and the dollar sharply higher. The dollar boasted its strongest single day gain in 15 months as 10-year …

Asian shares slip, bitcoin tumbles as inflation worries linger

Asia stocks mixed, U.S. inflation test looms

By Administrator_India Capital Sands Asian stocks dipped and cryptocurrencies extended losses on Wednesday as uncertainties over inflation prompted investors to reduce exposure to riskier assets for now. Also weighing on digital coins was a new Chinese ban on financial institutions providing services related to cryptocurrency transactions. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped …

RBI governor to make unscheduled speech at 10am as Covid devastates India

Five things to note as RBI gears up for Friday policy decision on rates

By Administrator_India Capital Sands Reserve Bank of India Governor Shaktikanta Das will make an unscheduled speech at 10 am today, Wednesday, as a new coronavirus wave threatens a nascent economic recovery. The address will be broadcast at 10am local time, the RBI said on Twitter. It didn’t elaborate. A team at the Indian Institute of Science in …