RBI Governor Shaktikanta Das on Thursday said that the central bank would make sure that transmission of reduced repo rate would be faster and higher.
Mumbai: The Reserve Bank of India cut the repo rate by 25 bps. However, the past two rate cuts have seen little transmission. The RBI’s statement noted that the 0.5% cumulative cut in February and April resulted in only 0.21% average reduction on fresh rupee loans.
India's 10-year bond yield dipped 9 basis points on Thursday after the Reserve Bank of India cut rates and signalled more easing ahead. The 10-year bond yield fell 9 basis points to hit a fresh 18-month low of 6.933%, from its Tuesday's close of 7.02%. Bond prices and yields move in opposite direction.
China is expected to report a sharper drop in exports for May as higher U.S. tariffs bite, while imports are likely to contract in a further sign of weakening domestic demand that could spark more stimulus measures.
The Goods and Services Tax (GST) Council, which is likely to meet for the first time after elections in the first half of this month, is likely to take up rationalisation of rates in the textile sector in line with the global markets.
Indian textile, apparel market grows to 100 bln USD in FY 2018-19: consultancy firm - 07th June 2019
MUMBAI, June 6 (Xinhua) -- The Indian textile and apparel market has grown at a compounded annual growth rate of 10 percent since the fiscal year 2005-06 to 100 billion U.S. dollars in the fiscal year 2018-19, according to a theme paper released by Wazir Advisors, a management consultancy firm, Thursday.