RBI eases cash reserve rules
The Reserve Bank of India allowed banks to dip further into statutory liquidity ratio (SLR) reserves in a bid to provide more liquidity in the financial markets hit by the IL&FS group defaults.
Government has increased customs duty on total 19 categories of “non-essential items” .
Government has increased customs duty on total 19 categories of “non-essential items” .
Cabinet gives nod to new telecom policy
The Union Cabinet approved the new telecom policy, named as the National Digital Communications Policy (NDCP) 2018.
Short-term rates rise as liquidity dries up
The redemption pressure on mutual funds (MFs)and liquidity crisis at IL&FS have combined to trigger a liquidity deficit in the system.
Centre finalising tariffs on non-essential imports
As per the official statement from Finance Ministry, government has finalised the list of non-essential items on which it will be imposing import tariffs.
Majority of firms expect 6.5-7.5% GDP growth
According to a CII survey, about 64% of respondents feel that the GDP growth in 2018-19 will be between 6.5%-7.5%.
Fitch raises India growth forecast
Fitch Ratings has upwardly revised its forecast for India’s economic growth to 7.8% from 7.4% for the current financial year ending in March 2019.
Merged bank and rise in NPAs
According to the India Ratings, the proposed merger of three public sector banks, Bank of Baroda, Vijaya Bank and Dena Bank could lead to rise in NPAs in the short-term.
Rationalisation of Centrally Sponsored schemes mooted
Several Centrally Sponsored Schemes (CSS) are just boutique in nature with ‘dubious’ outcomes, the 15th Finance Commission has noted while calling for urgent rationalisation of the CSSs.
India targets slight increase in 2018-19 foodgrain output
Agriculture Ministry has set a foodgrain production target of 285.2 million tonnes for 2018-19, a marginal increase from the previous year’s harvest of 284.8 million tonnes.