ECONOMY NEWS

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Indian stocks edge higher in lackluster trade; ITC up 3%

RBI sets rupee reference rate at 64.7603 against US dollar  -   16/10/2017 14:18
T he Reserve Bank of India today fixed the reference rate of the rupee at 64.7603 against the US dollar and 76.3912 for the euro. The corresponding rates were 64.9301 and 76.8772 on Friday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 86.0082 and 57.93 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at...
Indian economy on very solid track: Lagarde  -   16/10/2017 14:05
I MF chief Christine Lagarde has said that the Indian economy is on a very solid track in the mid-term, days after the International Monetary Fund lowered its growth forecast for the current and the next year. As per reports, describing the two major recent reforms in India - demonetisation and Goods and Services Tax (GST) - as a monumental effort, Lagarde said it is hardly surprising that there is a lit...
Wholesale inflation falls to 2.6% in Sept  -   16/10/2017 14:03
W holesale inflation fell to 2.60 per cent in September as prices of food articles, led by vegetables, softened. Inflation, based on the wholesale price index (WPI), had soared to a four-month high of 3.24 per cent in August 2017. It was 1.36 per cent in September 2016. The government data released today showed that inflation in food articles tapered to 2.04 per cent in September, as against 5.75 per...
Equity mutual funds inflow triples to Rs 80k cr in Apr-Sept  -   16/10/2017 13:06
E quity mutual funds registered an inflow of over Rs 80,000 crore in April-September 2017, a three-fold growth from the year-ago period, mainly due to the ongoing shift of household savings from real estate and gold to such financial products. The strong inflows have pushed the asset base of equity mutual funds (MFs) by over 21 per cent to Rs 6.59 lakh crore at the end of September from Rs 5.43 lakh crore...
Dec rate cut likely after Sept's soft CPI inflation: BofAML  -   16/10/2017 13:05
T he Reserve Bank of India (RBI) is likely to go for a 25 bps rate cut at its next policy review meet on December 6 after September Consumer Price Index (CPI) inflation came in at a soft 3.3 per cent, says a report. "We grow more confident in our call of a 25 bps RBI rate cut on December 6 after September CPI inflation came in at a soft 3.3 per cent, the same as August's downwardly revised 3.3 per cen...
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