Economy-News-The Economic Times 5 April 2018

India's RBI paints a ‘Goldilocks’ economy as trade war looms

Still, the central bank is upbeat on growth following the recent run of positive economic activity data.

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CBDT forms committee to study cases of HNIs escaping abroad

In light of the emigration of the likes of Vijay Mallya and Nirav Modi, a five-member working group will study the "taxation aspects" of such HNIs.

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Bank treasury to get more flexibility in managing surplus cash

The RBI said large borrowers will have to stipulate a minimum level of 'loan component' in fund-based working capital finance to promote greater credit discipline among borrowers.

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Wheat procurement faces truckers' boycott in Punjab

Many truck unions in Punjab are opposed to the state government's fiscal austerity measures; their boycotts threaten to disrupt wheat procurement in the upcoming rabi marketing season.

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Need to correct legal asymmetry in RBI's policing powers, says Urjit Patel

These comments were made by both the officials at the customary post-monetary-policy-review press conference. RBI kept its key lending rate unchanged at 6 per cent, citing inflation concerns.

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RBI dumps GVA model, switches back to GDP to measure economy

Citing global best practices, the reserve bank has opted to switch from the supply-based GVA to the demand-based GDP to measure economic activity.

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Tighter reporting of remittances under LRS to prevent abuse

Ever since India’s foreign exchange reserves crossed $100 billion in 2003, the Reserve Bank has been allowing Indians to remit money abroad under various accounts.

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RBI asks all payment system operators to store data in India

In recent times, the payment ecosystem in India has expanded considerably with the emergence of new payment systems, players and platforms.

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Want to know how money works? RBI is preparing to tell you all

As more and more Indians enter the mainstream financial fold, they need to know how the financial system works and where they fit into it.

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Bengal dairy farmers to get an additional subsidy of Rs 2 per litre

At present the procurement price of milk is Rs 25 per litre. While this remains same, the additional subsidy amount will be directly transferred to the bank accounts of the dairy farmers.

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RBI lowers inflation target for first half of FY19 to 4.7-5.1 per cent

Its bi-monthly policy review in February, RBI had projected inflation in the 5.1-5.6 per cent range in the first half of 2018-19.

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Comprehensive integrated plan on logistics on anvil: Commerce Secretary

Commerce Secretary Rita Teaotia said that the sector holds enormous opportunities to boost economic growth of the country and these measures would also help cut transaction costs and time of traders.

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GDP growth to strengthen to 7.4% in FY19: RBI

The growth will accelerate from 7.3-7.4 per cent in first half of 2018-19 to 7.3-7.6 per cent in the second of half of the current fiscal, said the first bi-monthly monetary policy statement for 2018-19.

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RBI maintains status quo, keeps repo rate unchanged at 6%

RBI Governor Urjit Patel-led MPC maintained status quo on the short-term lending rate -- repo rate -- at 6%, in its first bi-monthly policy review of 2018-19.

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