The Goods and Services Tax Council may consider a reduction in tax rates on a host of items with low revenue implications as part of the tax rationalisation exercise in its next meeting on July 21.
RBI Governor Urjit Patel voted for interest rate hike citing inflation risks and related uncertainties while his deputy Viral Acharya felt there was no alternative to it by 25 basis points.
Bankers said that the Reserve Bank's decision to hike policy rate by 25 basis points will anchor inflationary expectations and policy rate transmission would happen in the coming days.
In the wake of continuing rise in bond yields, the Reserve Bank today allowed banks to spread their mark-to-market (MTM) losses for the June quarter as well.
Highlights of the second bi-monthly monetary statement for 2018-19.
The hike in policy rates by the Reserve Bank today came as a surprise for analysts, who cautioned to brace for more such moves in the future as the central bank has upped its inflation forecast.
RBI hiked the key rate for the first time in over four years by 0.25% to curb inflationary pressure from high oil prices, a move which will translate into higher EMIs for home, auto and other loans.
The Reserve Bank of India (RBI) raised its policy rate for the first time in more than four years, due to inflation concerns, but kept its policy stance as “neutral”.
The Reserve Bank for the first time in four-and-half-years raised key interest rate today by 25 basis points to 6.25 per cent on inflation concerns arising from surge in international oil prices.
The Reserve Bank today retained growth projections for the current fiscal at 7.4 per cent on hopes of further boost to investments and higher consumption.
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