Janmejaya Sinha lays down Urjit Patel’s agenda - cleaning up bank balance sheets, evaluating robustness of CPI and pushing for digitisation in financial services. The appointment of Urjit Patel as Reserve Bank of India (RBI) governor is an inspired choice. Patel has the strongest monetary economics pedigree, with an MPhil in economics from Oxford and a PhD from Yale. As a PhD student he jointly authored academic papers with his advisor, the respected macroeconomist Prof Willem Buiter, ... Rediff.com, 1 month ago
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Perhaps half-way through India’s demographic transition, what is the outlook for the future? Robert Malthus wrote his famous An Essay on the Principle of Population in 1798. In that book his basic thesis was that population growth would likely swamp increases in production (mainly food) so that mankind would remain trapped at low standards of living, held back by hunger, famine and disease. In different forms the spectre of the “Malthusian Trap” held sway over the 19th ...Rediff.com, 2 days ago
OPEC’s move to cut output has pushed up oil prices. From here it could go either way: oil could reach $100/barrel or an analysis of demand and supply might follow, say Abheek Barua & Bidisha Ganguly. Oil prices have increased by about 12 per cent since the oil producer’s cartel, OPEC somewhat unexpectedly agreed to cut output at an informal meeting in Algiers on September 28. The reduction is not massive - the agreement is to limit the volume of oil pumped from the current rate ...Rediff.com, 4 days ago
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI Markets erased intra-day gains to end flat after investors turned cautious ahead of the US Federal Reserve's decision on interest rate later today. The S&P BSE Sensex ended down 16 points at 28,507 and the Nifty50 settled 1 point higher at 8,777. In the broader markets, BSE Midcap and Smallcap indices ended flat with mixed bias. Market breadth ended positive with 1405 gainers and 1323 losers on ...Rediff.com, 1 month ago Nifty ends below 8,800; US Fed, BoJ meets eyed Rediff.com, 1 month ago Volatile markets end flat ahead of Fed outcome, July F&O expiry Rediff.com, 2 months ago
Congress vice president Rahul Gandhi on Saturday took a jibe at the Samajwadi Party, saying ‘the cycle (SP’s poll symbol), voted to power by the people (in the last Uttar Pradesh assembly election), was not moving’. "You removed the elephant (Bahujan Samaj Party’s poll symbol) and brought the cycle...but the cycle is stationary,” he told a gathering at Khetasaria in Jaunpur near Varanasi. "Do not know if it (the cycle) has a puncture or is tied from behind or ...Rediff.com, 1 month ago
Paytm, which recently hived off its e-commerce and payments bank businesses into separate companies, would use these fresh funds to bolster the two businesses Vijay Shekhar Sharma-led mobile wallet major Paytm is in advanced talks to raise $300 million in fresh funds. According to multiple sources, other than existing investors such as Chinese e-commerce giant Alibaba and SAIF Partners, the new round of fundraising will see participation from Singapore’s Temasek Holdings, Taiwanese ...Rediff.com, 1 month ago
‘Shape up or ship out’ message has been loud and clear across the new-age companies in the stressed market conditions In a clear sign of stress in the start-up street, two prominent brands that were chased and acquired for millions of dollars, not too long ago, have lost their identity. The parent companies chose to play down the pain in the sector and termed the shutdowns ‘integration’ in their press statements on Wednesday. With that, TaxiForSure (TFS), the cab ...Rediff.com, 2 months ago
Hailing India for keeping "neutral stand" over the South China Sea issue despite pressure from the US and Japan, state-run Chinese media on Wednesday said there are some contradictions and frictions between the two nations but the overall bilateral relations have been developing smoothly. "When it comes to security, after the final award of the South China Sea arbitration was announced, the Indian government has kept a neutral stance despite the pressure from Washington and Tokyo," an article ...Rediff.com, 2 months ago
The central bank's currency management will be critical over the next few months. A weaker rupee could help to revive exports. But, the currency must fall slowly and in controlled fashion, says Devangshu Datta. Raghuram Rajan’s last policy review went off without surprises. The central bank opted not to tinker with any rates. The policy review was of interest, however. On the whole, the Reserve Bank of India (RBI) is mildly optimistic: Growth could rise enough to balance off fears of ...Rediff.com, 2 months ago
In dollar terms, however, gold prices jumped by 26 per cent this calendar year, following sharp jump in hedge funds’ long position Gold prices spurted to Rs 31,340 per 10 grams, a 29-month high, by surging Rs 540 in the bullion market on Saturday, following global demand for safe haven. With hedge funds strengthening their long positions on gold, prices for the precious metal are expected to surpass the Rs 32,500-mark in the near-term. Standard gold in Mumbai’s popular Zaveri ...Rediff.com, 2 months ago
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