The comfortable inflation figures allow Reserve Bank to cut policy rates.
In his first monetary policy announcement as Reserve Bank governor, Urjit Patel gave clear indications that he had made a perfect sense of the market and government sentiments. The Monetary Policy Committee (MPC) under his watch reduced the benchmark repurchase rate by 25 basis points to 6.25 per cent on October 4, paving way for a reduction in interest rates.
The market read the rate cut as ‘dovish’, a departure from former governor Raghuram Rajan’s ‘hawkish’ stance over inflation. “We were expecting that the new governor will continue with the same hawkish stance as the previous governor,” said Jayant Manglik, president (retail distribution), Religare Securities. “Inflation is still not subsided and, in fact, has some chances to spike in the coming few months. A scope for cutting the policy rates was also there for the December policy instead of this one.”
In fact, a cut in borrowing and lending rates is now expected in the December policy announcement, too. “We believe the rate cut was very much required for the economy, and if inflation data support there could be another cut of 25 bps towards the end of the financial year,” said Dinesh Thakkar, chairman and managing director of Angel Broking.
هذه القصة مأخوذة من طبعة October 16, 2016 من THE WEEK.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 16, 2016 من THE WEEK.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
William Dalrymple goes further back
Indian readers have long known William Dalrymple as the chronicler nonpareil of India in the early years of the British raj. His latest book, The Golden Road, is a striking departure, since it takes him to a period from about the third century BC to the 12th-13th centuries CE.
The bleat from the street
What with all the apps delivering straight to one’s doorstep, the supermarkets, the food halls and even the occasional (super-expensive) pop-up thela (cart) offering the woke from field-to-fork option, the good old veggie-market/mandi has fallen off my regular beat.
Courage and conviction
Justice A.M. Ahmadi's biography by his granddaughter brings out behind-the-scenes tension in the Supreme Court as it dealt with the Babri Masjid demolition case
EPIC ENTERPRISE
Gowri Ramnarayan's translation of Ponniyin Selvan brings a fresh perspective to her grandfather's magnum opus
Upgrade your jeans
If you don’t live in the top four-five northern states of India, winter means little else than a pair of jeans. I live in Mumbai, where only mad people wear jeans throughout the year. High temperatures and extreme levels of humidity ensure we go to work in mulmul salwars, cotton pants, or, if you are lucky like me, wear shorts every day.
Garden by the sea
When Kozhikode beach became a fertile ground for ideas with Manorama Hortus
RECRUITERS SPEAK
Industry requirements and selection criteria of management graduates
MORAL COMPASS
The need to infuse ethics into India's MBA landscape
B-SCHOOLS SHOULD UNDERSTAND THAT INDIAN ECONOMY IS GOING TO WITNESS A TREMENDOUS GROWTH
INTERVIEW - Prof DEBASHIS CHATTERJEE, director, Indian Institute of Management, Kozhikode
COURSE CORRECTION
India's best b-schools are navigating tumultuous times. Hurdles include lower salaries offered to their graduates and students misusing AI
