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What is latest?

RBI Balance Sheet in Recent Years: A Prisoner of a Distorted Monetary Policy Stance - 18/10/2014
The Reserve Bank of India's latest accounts indicate that the structure of earnings has clearly shifted to domestic sources, particularly from assets. Further, the RBI has made large transfers to the Government of India over the past few years at the cost of maintaining critical reserves to ensure the financial stability of the central bank. The RBI has not made public a report that is said to provide justification for such a shift in policy. This goes against the post-financial crisis view that central bank operations must be more transparent and open to public scrutiny.

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Trends in Bank Deposits - 04/10/2014
Analysing trends in bank deposits between 2008 and 2012, this note argues that bank depositors by and large seemed to prefer to move their money to nationalised banks. Just like any investor, depositors responded to the crisis by moving their deposits from one bank group to another, from one maturity to another, or to other assets more rewarding than bank deposits.

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Monthly Economic Review - September 2014 - 31/10/2014
The 'First Advance Estimates of Production of major Kharif crops for 2014-15', have put the kharif output to be 7% lower from the Fourth Advance Estimates of 2013-14. Industrial growth too has not been very encouraging yet again, as revealed by new IIP data in August. Though on an expansion mode, services sector activity only paced in September 2014 over August. Annual inflation continued to be on the lower side, thereby prompting the Reserve Bank of India to retain the key policy rates, even as liquidity provided under the export credit refinance (ECR) facility has been reduced. Though the outlook for retail inflation has improved, monetary easing may not be possible in the current fiscal due to upside risks from food price shocks and geo-political tensions in the Middle-East. Government expenditure fell yet again, keeping the deficit lower y-o-y. However, trade deficit has widened to a 16-month high. Owing to all these macroeconomic developments, financial market activities remained mixed.

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Monthly Economic Review - August 2014 - 31/08/2014
GDP growth at 5.7% during Q1FY15 has been buoyant on the back of industrial activity, while the performance of agriculture and services remained sluggish. Meanwhile, as per recent data for various macro indicators, wholesale inflation has ebbed considerably. Fiscal deficit too has posted a contraction, as against the steep increase a year ago. On the external front, imports of gold have soared, even as oil imports have dipped. During Q1FY15, contraction of trade deficit led to the narrowing of the current account deficit (CAD). Tight liquidity conditions continued in August, though there was an improvement over the previous month. Easing crude oil prices and the possibility of an interest rate hike by the Fed, put downward pressure on the rupee. Yields in both the primary and secondary markets of the G-sec market hardened, following policy measures by the government and the central bank respectively. The secondary equity market was upbeat, following a revision in India's outlook.

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Financial Markets Review - Fortnight Ending 25 July 2014 - 25/07/2014
Moderate pick up in global economic activity helped the risk appetite of investors resulting in a strong rise in the portfolio inflows in to emerging market economies in the recent period. In conjunction with improved business sentiments amid firming up of industrial growth and exports, the domestic financial market activity also got a fillip.

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Financial Markets Review - Fortnight Ending 11 July 2014 - 11/07/2014
The new government unveiled the Union Budget for 2014-15 on 10 July 2014. The budget estimates for fiscal deficit stands unchanged from the target laid down in the interim budget at 4.1% of GDP. The gross market borrowing for 2014-15 is estimated at Rs 6 lakh crore and net borrowing stands at Rs 4.61 lakh crore. The finance minister laid down the fiscal consolidation roadmap by targeting to bring down fiscal deficit to 3.6% in FY16 and 3% by 2016-17. As per the Economic Survey 2013-14 the GDP growth for FY15 has pegged at 5.4% to 5.9%. It was acknowledged that inflation has moderated, though it continues to remain above comfort level. The Economic Survey also highlighted the need for monetary policy framework for targeting CPI inflation.

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Selected Macro-Economic Indicators - 19/09/2014
India’s real GDP growth registered an improvement in the first quarter of 2014-15 (5.7%) compared to the last quarter of 2013-14 (4.6%). While the growth rates of industry and services improved to 4.2% and 6.8% respectively, that of agriculture and allied activities slowed down. Within industry, the manufacturing sector registered a turnaround and grew at 3.5%; electricity generation posted double-digit growth of 10.2%. Within the services sector, growth in community, social and personal services at 9.1% was almost three times that of the last quarter of 2013-14, but less than the corresponding quarter of 2012-13.

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Financial Markets - Key Indicators - 19/09/2014
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