Economy & Policy

Economists expect govt to miss FY23 fisc gap aim post excise duty cut

Informist, Monday, May 23, 2022 NEW DELHI – Most economists expect the government to miss its fiscal deficit target for 2022-23 (Apr-Mar) due to recent measures to control runaway inflation, primarily the cut in excise duty on petrol and diesel. They peg the fiscal deficit for the year at 6.7-6.9% of GDP, against the Budget...

RBI forms panel to review customer svc standards, BP Kanungo to head

Informist, Monday, May 23, 2022 MUMBAI – The Reserve Bank of India has formed a six-member committee to review customer service standards in regulated entities, the central bank said in a release today.  In its April monetary policy, the central bank had announced the formation of such a panel for examining and reviewing the...

Govt may restrict sugar exports after 2021-22 shipments hit 10 mln tn

Informist, Saturday, May 21, 2022 By Preeti Bhagat and Kavita Desai MUMBAI - The government is likely to restrict exports of sugar once it crosses 10.0-10.5 mln tn in the 2021-22 (Oct-Sep) season to ensure ample domestic stocks, a senior government official said today."...working on a structure to put in place a mechanism where whoever...

RBI board OKs transfer of 303.07-bln-rupee surplus to govt for FY22

Informist, Friday, May 20, 2022 NEW DELHI – The Reserve Bank of India's central board of directors had approved the transfer of 303.07 bln rupees as surplus to the central government for the financial year 2021-22 (Apr-Mar). The amount is less than a third of the central bank's surplus transfer of 991.22 bln rupees for the...

WAPCOS likely to be next PSU to be listed, says govt source

Informist, Thursday, May 19, 2022 By Sagar Sen NEW DELHI – After Life Insurance Corp, the government is now looking to divest 25% stake in state-owned WAPCOS Ltd through an initial public offering, a senior finance ministry official told Informist. WAPCOS, which is wholly-owned by the government, is a consultancy, engineering, procurement and construction company...

RBI says trade under SBI credit line to Lanka can be settled in rupee

Informist, Thursday, May 19, 2022 MUMBAI – The Reserve Bank of India today said that trade transactions with Sri Lanka, falling under the State Bank of India’s credit facility arrangement, may be settled in rupee terms. On Mar 17, SBI signed an agreement with Sri Lanka to provide its government with a credit facility...

RBI issues norms on interoperable card-less cash withdrawals at ATMs

Informist, Thursday, May 19, 2022 MUMBAI – The Reserve Bank of India today issued guidelines on interoperable card-less cash withdrawals at automated teller machines.  In a circular today, the central bank said that all banks, ATM networks and white label ATM operators may provide the option of such a facility at their automated teller...

Informist Poll: Post minutes, MPC seen frontloading 50 bps hike Jun

Informist, Thursday, May 19, 2022 By Richard Fargose and Aaryan Khanna MUMBAI/NEW DELHI – The Monetary Policy Committee is expected to follow up its hefty rate hike this month with a similar action in June as minutes of its latest meeting show that most members are in a hurry to anchor inflation...

Data Alert: Bank loans rise 10.8% on year in fortnight to May 6

Informist, Thursday, May 19, 2022 --RBI: Banks' loans as on May 6 up 900.54 bln rupees on fortnight --Bks' deposits as on May 6 up 719.35 bln rupees on fortnight --Bks' deposits as on May 6 at 166.95 trln rupees, up 9.72% YoY --Bks' investments on May 6 up 599.36 bln rupees on fortnight MUMBAI...

RBI modifies eligibility criteria for Kisan Credit Card scheme

Informist, Wednesday, May 18, 2022 MUMBAI – The Reserve Bank of India today modified the eligibility criteria under the Kisan Credit Card scheme for farmers engaged in fishing and aquaculture. In a circular issued today, the central bank noted that licensing and authorisation-related requirements pertaining to fishing and aquaculture in inland water bodies vary...


Economy & Policy News by Date