A foreign brokerage, on Monday, said the Reserve Bank of India will cut its key policy rates by another 25 basis points, after Governor Shaktikanta Das’ weekend speech focussing on ways to revive growth.
The RBI is likely to release its revised stress assets resolution circular after the elections to clear the model code of conduct.
Bank credit rose by 13.24 per cent to Rs 97.67 lakh crore in the fortnight to March 29, while deposits grew by 10.03 per cent to Rs 125.72 lakh crore for the period, according to data released by the Reserve Bank of India (RBI) last week.
HCM CITY — The textile and garment industry, aiming to take advantage of free trade agreements (FTAs) with a focus on green manufacturing, is upbeat about earning US$60 billion from exports by 2025.
Robust export of cotton textiles to China has helped India reduce its trade deficit with that country. The recent government move to reimburse all State and Central levies on textile exports boosted shipments to major consuming countries.
Textile manufacturers losing domestic market has been a subject of worry for quite some time. Recent reports published in local dailies make it clear that the situation has assumed an alarming proportion due mainly to smuggling and other misdeeds taking too oppressive a toll on the capital-intensive industry.