RBI guv draws new line in sand, on flexible rate cuts



Shaktikanta Das said in Washington, DC, that there was nothing sacrosanct about the 25 bps rate cut and that monetary policy could be well served by calibrating the size of the policy rate to the dynamics of the situation, and the size of the change itself could convey the stance of policy.



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Loans to get cheaper as SBI cuts rates by 5 bps



SBI is the third state-run lender to lower the lending rates after Indian Overseas Bank Tuesday and Bank of Maharashtra which also lowered their loan prices by 5 bps on loan tenors of one year and above, effective April 10.



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SC order on NPA resolution: 'It is Balakot on RBI'



The order, a “negative” overall, will be a short term positive for corporate focused state-run and private lenders because of the possibility of delaying incremental stressed asset recognition.



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Economists want RBI to cut rate by at least 25 bps



The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.



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Sensex hits record closing high, surges 185 points



Tata Motors drove the Sensex rally for the second session in a row, surging over 8 per cent. Other top gainers were Bharti Airtel, TCS, Bajaj Finance, PowerGrid, IndusInd Bank and State Bank of India — rising as much as 5 per cent.



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4 major debt resolution cases delayed further



The delay will increase the provisioning burden on lenders and will also postpone the benefit of reversal of money set aside as provisions.



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Possible we are not growing at 7 pc: Raghuram Rajan



Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and “a revamp” was needed “to really figure out what India’s true growth rate is”.



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