Finance

Questions on RBI’s credibility outlandish, says Nirmala Sitharama

Questions on RBI’s credibility outlandish, says Nirmala Sitharama

Finance
Updates from :  the hindu Nirmala Sitharman’s remarks come after Rahul Gandhi hit out at the government over the record cash transfer from the RBI Any suggestions on the credibility of the Reserve Bank of India (RBI) are “outlandish”, Union Finance Minister Nirmala Sitharaman said on Tuesday, responding to criticism on the transfer of ₹1.76 lakh crore surplus from the central bank to the exchequer.  PM, FM clueless on how to solve economic disaster, stealing money from RBI: Rahul Gandhi Speaking a day after the Central government’s windfall from the RBI, Ms. Sitharaman said the government was yet to decide on the deployment of the funds. “I cannot comment right now on how these funds would be deployed. We will inform [the media] only after we have taken a decision on
HUL net up 15% despite sluggish demand

HUL net up 15% despite sluggish demand

Finance
Updates from :  the hindu FMCG major expects H2 to be better An overall slowdown in demand growth, especially in the rural markets, affected the country’s largest pure-play fast moving consumer goods company Hindustan Unilever Ltd (HUL), which reported its lowest volume growth in seven quarters. For the quarter ended June 30, HUL registered a 7% growth in volume with net profit rising 15% to ₹1,755 crore, compared with ₹1,529 crore in the corresponding quarter of the previous financial year. The company, while terming its performance ‘resilient’, attributed the slowdown to factors such as moderated growth, with rural demand falling and being on par with urban, and said that going ahead, demand may be soft though better on account of government initiatives aimed at aiding cons
Healthy capital ratios, low NPAs

Healthy capital ratios, low NPAs

Finance
Updates from :  the Hindu : Private sector lender has been able to maintain asset quality with 1.5-1.9% GNPA The RBI’s policy rate cut in February this year is likely to nudge banks to trim deposit rates over the coming months. Though a sharp cut is unlikely in the near term, depositors with surplus funds should consider locking into attractive rates now. DCB Bank offers 8.05% for deposits with tenure of 15 months to less than 24 months. It also offers 8.05% on its 36-month deposit. Lock-in now Banks had raised deposit rates last year with those in the private sector hiking rates more aggressively. With the RBI expected to cut the policy rate further in the coming months, retail deposit rates offered by banks are likely to fall too. Hence, shop for higher rates no
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