The Reserve Bank of India's six-member Monetary Policy Committee is set to meet on December 5-6 for the fifth bi-monthly policy review. The central bank is unlikely to change repo rate. Some bankers and economists are also expecting status quo on repo rate. This author discusses why the RBI should not cut rates right now.

RBI had maintained status quo on policy rates in its last review. It cited risks due to higher inflation, largely emanating from rising crude oil prices, uneven distribution of monsoon and amplified global geopolitical uncertainty. Other factors included increased volatility in financial markets as the US Fed unwound its balance sheet and domestic fiscal challenges.

NEW DELHI: Leading bourse National Stock Exchange (NSE) may have to file fresh draft papers with markets regulator Sebi to float an initial public offering after getting clarity on the co-location matter. However, the current preliminary IPO papers, which were filed with Sebi in December last year, will remain open, the exchange said.

The IPO is expected to be one of the biggest in recent times, with an estimated size of over Rs 10,000 crore, merchant banking sources said.

NEW DELHI: Maruti Suzuki India (MSI) has launched a crossover version of its Celerio hatchback, christened the CelerioX. Prices of the new model start at Rs 4.57 lakh for the Vxi MT variant while the top Zxi (O) AMT trim comes at Rs 5.42 lakh (both ex-showroom, Delhi).

The crossover model is based on the 2017 Celerio facelift version and gets some cosmetic updates to look rugged and aggressive. Big changes have been made in the front with a new grille, bumper and a lower-body protective cladding that runs throughout the cir Maruti CelerioX cumference of the car.

Mumbai: The 10-year bond yield on Monday closed at a fresh fifteen-month high ahead of the Reserve Bank of India’s (RBI) bi-monthly policy decision this week.

Most of the analysts polled by Mint expect the central bank to keep interest rates on hold for a prolonged period starting with its policy meeting on concerns of rising inflation.

Prime Minister Narendra Modi led government might present the common budget for the next fiscal year on February 1, 2018. This would be the first budget after the rolling out of the Goods and Services Tax bill (GST).

The Budget session of Parliament may begin on January 30 with President Ram Nath Kovind addressing the Joint Session of both the Houses of Parliament, a senior government official told PTI.

Two of India's state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates.

India's Ministry of Shipping asked the refiners to issue long-term crude import tenders on a pilot basis and include a right of first refusal for Indian shipping lines, a government source familiar with the matter said on Monday.

New Delhi: Coal India Ltd’s production and shipments in November rose to the most for the month in at least five years, as power plants procured more coal to boost inventories.

The Kolkata-based miner’s output has increased year-on-year for the past four months following a reduction in its own stockpiles and a surge in demand from power plants, its biggest customers.

DLF Ltd, India’s largest real estate developer, may bring cheer on home buyers’ faces with a new business model, which is to move from launch-driven company to selling down old inventory, even as it will Rs 11,000 crore from promoters to repay debt. “Our business model is changing with this capital infusion. We are not going to be a launch-driven company. We have on our books almost Rs 15,000 crore plus of completed inventory. The next few years our intention is to actually sell down that inventory,” Saurabh Chawla, Senior ED Finance, DLF told ET Now.

FMCG major Nestle India said on Monday that Maggi complied with the latest guidelines of food safety regulator Food Safety and Standards Authority of India (FSSAI) and it does not add any ash to its popular noodles.

District administration of Shahjahanpur, UP, had slapped a fine on Nestle India and its distributors last week after Maggi had allegedly failed to pass the lab test and found ash content above the permissible limits for human consumption.

The banking sector has the potential to touch double-digit loan growth next year as there are signs of corporate demand picking up and other credit avenues stabilising, a top official of HDFC Bank has said. After clocking just under 10 per cent growth for almost a year, credit expansion fell to under 5 per cent starting November 2016.

Since then it has been struggling to cross the double digit mark on sustained basis due to the impact of demonetisation and the implementation of GST. “The demand so far has been essentially driven by working capital and some short term loans and, may be, a little bit of brownfield capex but you have not had a meaningful private investment especially from the private sector to give a boost to corporate credit demand,” Deputy MD Paresh Sukthankar told PTI.

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