Inflation warrior Urjit Patel has assumed charge as the 24th Governor of Reserve Bank with several immediate priorities, including clean up of banks and containing inflation without hurting growth. Read More
Today, during the first Bi-monthly Monetary Policy Statement for 2016 -17, RBI Governor Dr. Raghuram Rajan announced a 25 basis point cut in the policy repo rate bringing it down to 6.50%. Dr. Rajan emphasized that the intention behind rate cut is to pass the benefits to borrowing rates. In the news conference following policy... Read More
In a move that is expected to provide benefit to millions of EPF account holders in the country, the board of trustees of retirement fund body - EPFO has announced payment of interest on inactive accounts from April 1 this year. Read More
As was expected by many economists, Today RBI left the key repo rate unchanged at 6.75 percent. RBI said it is waiting for more data on inflation and the Union Budget before taking a call on further reduction in rates. The key words used by RBI during the announcement were that it would continue to... Read More