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Economy / Business Standard

What is the Monetary Policy Committee of RBI? What's its mandate?

Last month, the Monetary Policy Committee of the RBI increased the repo rate by 50 basis points to 4.90% to contain rising inflation. Who are its members and what are the processes? Let's find out

5 Jul 2022 7:00 am
Policymakers don't have fetish to raise rates: Revenue secy Tarun Bajaj

But the government is open to discussing narrowing down the three slabs of 5, 12 and 18 per cent into two, he said while addressing industry leaders

5 Jul 2022 2:12 am
Industry body voices concern over 5% GST on hospital room tariffs

Ficci bats for zero GST on health care in letter to FM; CAIT against tax tweaks on food items

5 Jul 2022 2:07 am
DoT warns e-commerce companies on illegal sale of wireless jammers

The DoT has raised the issue several times in the last 4-5 years and even conducted raids to check illegal sales of these equipment

5 Jul 2022 1:46 am
Govt to review windfall tax on crude oil and fuel exports every fortnight

The review is based on the premise that if crude prices fall, then windfall gains will cease and new taxes would be rollback

4 Jul 2022 11:53 pm
Non-bank PSOs need approval for takeover or sale of business, says RBI

After approval, a public notice of at least 15 calendar days needs to be given before making the changes

4 Jul 2022 11:52 pm
Changes to IT Rules 2021 may hurt ease of doing business: Report

Study says proposal to trace origin of a message on social media platforms is technologically unfeasible

4 Jul 2022 10:33 pm
Urban FMCG sales see sharper fall than rural in June, shows data

Sales of goods from shampoos to biscuits stayed lower due to inflationary pressures on commodities

4 Jul 2022 9:44 pm
Centre committed to meeting FY23 fiscal deficit target, say top official

Says macroeconomic fundamentals and forex reserves are robust enough to deal with current geo-political challenges

4 Jul 2022 9:30 pm
Hotels and restaurants can't levy service charge by default, says CCPA

The hotels have to clearly inform the consumer that paying the service charge is at the consumer's discretion, the CCPA said

4 Jul 2022 8:38 pm
India's record $25.6-bn trade deficit in June adds pressure on rupee

Rupee has plunged 6% against the dollar this year, weighed down by broad strength in the greenback and as investors retreated from domestic share markets

4 Jul 2022 8:33 pm
Govt bond yields slide 5 bps over weekend, in tandem with US benchmark

Signs of weakening economic growth worldwide raising questions over the degree of policy tightening by central banks

4 Jul 2022 8:30 pm
Credit-deposit growth gap widens to a three-year high of nearly 5%

Development fuels concern that slow deposit growth could emerge as one of the biggest constraints for loan growth in the system

4 Jul 2022 7:01 pm
Exports rise by 17% to $37.94 bn in June; trade deficit widens to $25.63 bn

Cumulative exports in April-June 2022-23 rose by about 22% to $116.77 bn

4 Jul 2022 6:48 pm
PACS may be allowed by Centre to sell petroleum products, run PDS shops

The Centre has proposed to allow primary agriculture credit societies (PACS) to undertake activities like dealership of petroleum products, running PDS shops, etc

4 Jul 2022 6:32 pm
Centre planning export houses exclusively for cooperatives: Amit Shah

Cooperative model of development is best suited for the country, says union minister

4 Jul 2022 6:27 pm
ACME, Tata Power among 60 firms to sign MoUs worth Rs 1.25 trn with TN govt

Chief Minister M K Stalin also lays foundation stone for 21 projects with an investment commitment of Rs 22,252 crore and employment potential for about 17,654 persons

4 Jul 2022 5:09 pm
Don't stipulate solvency ratio for public sector general insurers: FinMin

Department of Financial Services under the Ministry of Finance requested other Ministries not to include solvency ratio as a criterion for participation of public sector general insurers in tenders

4 Jul 2022 3:09 pm
No respite for manufacturers as inflation continues to weigh on the economy

As India's business optimism slid to a 27-month low of 50.9, economists say they do not see a respite for manufacturers from cost inflation in the near term

4 Jul 2022 2:18 pm
Govt mulls penalising companies for EV fire as voluntary recall begins

Nearly 7,000 e-two-wheelers taken off the roads; show-cause notice to companies sent based on findings of a report by a DRDO laboratory

4 Jul 2022 1:22 pm
India-EU Conclude 1st Round Of Negotiations For India-EU Trade and Investment Agreements

India and the European Union concluded the first round of negotiations for India-EU Trade and Investment Agreements, including the Geographical Indicators (GI). India's FTA negotiations were led by Chief Negotiator Ms. Nidhi Mani Tripathi, Joint Secretary, Department of Commerce and EU was represented by its Chief Negotiator, Mr. Christophe Kiener. The week-long negotiations were held in a hybrid fashion - with some of the teams meeting in Delhi and the majority of officials joining virtually hy

4 Jul 2022 1:08 pm
AU Small Finance Bank's loans grow 42 % YoY in Q1 on positive sentiment

AU SFB said that the retail-to-wholesale loan ratio stood at about 90:10 as of June 2022, versus around 88:12 as of March 31, 2022

4 Jul 2022 9:33 am
Top Headlines: GST e-invoicing for firms, corporate earnings in FY23 & more

The central government is planning to make GST e-invoicing mandatory for companies with a turnover of Rs 5 crore and above, a government official said. Read more on this in our top headlines

4 Jul 2022 7:20 am
Fuel exports rise 13% in FY23; refiners stay healthy despite addl excise

Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices

3 Jul 2022 4:41 pm
Monsoon rains cover entire India but still 5% down on average so far

The progress of the monsoon, which delivers about 70% of the country's annual rainfall, is crucial for rice output and exports from India

2 Jul 2022 5:19 pm
2 Jul 2022 2:02 pm
ONDC to give public access by August, has 150 entities on board yet

Seven companies - one buyer side app, five seller side apps, and one logistics service provider app - have built their own ONDC compatible apps

1 Jul 2022 9:30 pm
Kharif sowing picks up as rains revive, cotton and pulses gain most

Official data showed that among major kharif crops, acreage of pulses was almost 7 per cent more than last year

1 Jul 2022 7:22 pm
Government slaps export duties on oil products

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1 Jul 2022 3:05 pm
CRISIL cuts FY23 GDP growth estimate to 7.3% from 7.8% on high inflation

Domestic rating agency CRISIL lowered its real GDP growth forecast for India to 7.3 per cent in FY23 from 7.8 per cent estimated earlier.

1 Jul 2022 1:30 pm
Private, government entities invest Rs 3.57 trn in new projects in Q1FY23

Around Rs 87,000 crore worth of projects were completed in June 2022. The completion rate was 22.5 per cent higher than last year

1 Jul 2022 1:20 pm
1 Jul 2022 10:48 am
Monsoon session of Parliament to begin on 18 July

During this session, India will get a new President and Vice President. The election to the office of President of India will be held on the first day of the monsoon session, followed by the counting of votes on 21 July 2022.

1 Jul 2022 9:13 am
HSBC to relaunch India private banking business within a year: Exec

HSBC will revive its private banking business by the end of this year, according to bank officials

30 Jun 2022 7:32 pm
India Requires Regional Dimensions Of National Indicators: RBI

The RBI governor, Shaktikanta Das, speaking at the central bank's annual 'Statistics Day Conference' mentioned that the statistical innovations arising out of the COVID-19 disruption will have long-lasting benefits. Given its vastness and geographical diversity, India requires regional dimensions of national indicators. RBI should aim at enhanced granularity, regularity and better validation. In the Reserve Bank, information is treated as a 'public good'. The central bank envisions to keep calib

30 Jun 2022 3:08 pm
GST Council Decides To Rationalise Tax Rates On Certain Goods And Services: FM

The Finance Ministry announced that the government will raise taxes on certain goods and services to 18 per cent from current 12 cent, after the two-day 47th GST Council Meeting that will be made effective from 18 July, 2022. The Goods and Services Tax Council decided to rationalise tax rates on certain goods and services to remove an inverted duty structure, said Finance Minister Nirmala Sitharaman in Chandigarh. Among other things, the GST Council also approved an increase in tax on petroleum

30 Jun 2022 11:51 am
Govt allots 2,516 cr for computerisation of primary agri co-op societies

The model bylaws will enable PACS to offer economic activities other than credit which includes developing cold-storage facilities in villages, running PDS shops and locker facilities for depositors

29 Jun 2022 9:28 pm
Mumbai, Delhi most expensive cities for expatriates in India: Mercer study

Among the cities, Kolkata has the lowest cost of daily necessities such as milk, breads, vegetables, etc., while Mumbai and New Delhi have the highest costs

29 Jun 2022 9:20 pm