Demonetisation will transform Indian economy: RBI governor

On the eve of the deadline for citizens to deposit demonetised currency in banks, Reserve Bank of India (RBI) Governor Urjit Patel said that demonetisation will have a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship".

"The withdrawal of specified bank notes will impart far reaching changes going forward. It is

REUTERS POLL: Oil in 2017 seen capped below $60/barrel by strong dollar, U.S. shale

By Vijaykumar Vedala

Oil prices will gradually rise towards $60 per barrel by the end of 2017, a Reuters poll showed on Thursday, with further upside capped by a strong dollar, a likely recovery in U.S. oil output and possible non-compliance by OPEC with agreed cuts.

Brent crude futures will average $56.90 a barrel in 2017, according to 29 analysts and economists polled by R

Two held for converting old notes worth Rs 6 crore for businessman

 Two persons have been arrested for converting demonetised Rs 500 and Rs 1,000 currency notes worth over Rs 6 crore into new currency on behalf of a Tamil Nadu-based businessman, the Enforcement Directorate (ED) said on Thursday.

"We have arrested two persons under PMLA involved in exchange of old notes to new currency notes of about Rs 6 crore for J. Sekhar Reddy," an

RBI, Urjit Patel should speak up or lose credibility

Central bankers are often called Masters of the Universe. No period in financial history has proven this more than the aftermath of the global financial crisis (GFC). It was the unorthodox methods of the central bankers -- especially those of Western, developed economies -- that saved the financial system from falling off a cliff and, in turn, saved the real economy from The Great Depression-li

Markets bounce back over expectations of lower taxes by Mr. Vaibhav Agrawal - Angel Broking

Below is the views on Markets bounce back over expectations of lower taxes Mr. Vaibhav Agrawal (Head of Research & ARQ, Angel Broking)

Today Indian markets saw a strong a pullback rally after a strong correction seen on Monday. The buying sentiment improved after there was an indication from the Finance Minister to lower the indirect tax rates in next year’s

'Demonetisation bold step, effects for two quarters'

Demonetisation is a "bold step" and its impact will last for two quarters for various industries, Reliance Capital's Chief Investment Strategist Madhusudan Kela said on Tuesday.

"Demonetisation is the biggest reform or step taken by any government anywhere in the world in 2016. It is a bold step. The government was aware of the fact that there would be hiccups. That

We suggest traders to prepare themselves for expected rise in volatility beforehand - Religare Sec

Below is the views on weekly technical recommendations by Mr. Jayant Manglik, President, Retail Distribution, Religare Securities Ltd.

Markets remained under pressure in passing week too and ended with a loss of nearly one and half percent. By and large, mixed global cues and prevailing negativity on local front pushed the markets lower. Besides, weakness in

How safe is one’s retirement money? by Mr. Ashish Shanker - Motilal Oswal

Below is the views on EPFO Rate cuts by Mr. Ashish Shanker, Head – Investment Advisory, Motilal Oswal Private Wealth Management

Over the past couple of months there has been a flurry of news with respect to decline in rates and this has come from across the debt market spectrum among varied instruments.

The fall in yields appears to had a bearing on va

ANALYSIS - Pain before gain for Indian banks after Modi`s cash gamble

By Devidutta Tripathy and Manoj Kumar

MUMBAI/NEW DELHI - India's shock move to abolish high-value banknotes was expected to deliver a windfall to lenders, and banks have indeed seen coffers swell after people deposited 12.4 trillion rupees($183 billion) in cash into the system.

But while banks may benefit in the longer term, so-called "demoneti

We’ve hardly witnessed any change in the prevailing negative sentiments - Religare Sec

Below is the views on weekly technical recommendations by Mr. Jayant Manglik, President, Retail Distribution, Religare Securities Ltd   

The passing week turned out to be a disappointing one for the equity markets, taking cues from the recently concluded US Fed meet.  The market tone was negative from the start, mainly in reaction to sharp decline in II

Raising compliance bar to battle fraud and corruption in 2017, says EY

The demonetisation drive, introduction of new regulations such as the Bankruptcy Code and push toward a digital economy could quash fraud and corruption by raising compliance standards even though these moves have had impact on businesses and consumers, according to a report.

Forensic Outlook 2017, released by EY Fraud Investigation and Dispute Services on Thursday, has highlighted ke

Fed Policy is slightly hawkish by Mr Ajay Bodke - Prabhudas

Below is the Quote on Fed Policy by Mr. Ajay Bodke, CEO & Chief Portfolio Manager - PMS, Prabhudas Lilladher Ltd

Fed Policy is slightly hawkish as indicated by 3 rate increases expected in 2017 v/s 2 rate increases expected in Sept's statement.​ It appears to be Fed's response to the incoming administration's stated pursuit of strong reflationary pol

December quarter growth may slip to 5.5-6% on demonetisation: BofA-ML

India’s economic growth may slip to 5.5-6 per cent in the current quarter as demonetisation is expected to hurt production during November-December, says a Bank of America Merrill Lynch report as per the PTI.

“We expect demonetisation to hurt production in November-December. Each month of disruption hits growth by 0.3-0.5 per cent of GDP,” BofA-ML said in a research

The recent fall in gold prices provides an opportunity to build your desired portfolio allocation by Mr Chirag Mehta - Quantum AMC

Below is the views on  Gold Outlook by Mr. Chirag Mehta  Senior Fund Manager - Alternative Investments Quantum Gold Fund, Quantum Gold Savings Fund, Quantum Multi Asset Fund & Quantum Equity Fund of Funds 

Gold markets suffered their worst blow in last 3 years as prices fell by 8.1% to $1173 an ounce reducing the YTD increase to just

We expect the debt markets to be range bound in the coming month by Murthy Nagarajan - Quantum AMC

Below is the views on DEBT Outlook by Mr. Murthy Nagarajan Head – Fixed Income Quantum Liquid Fund & Quantum Dynamic Bond Fund 

The month of November saw the Indian bond yields move in a diametrically opposite direction compared with the global bond markets. The change in direction of yields started on November 08, 2016, with the unfolding of two import

Demonetization has led to disruption of business activity and can impact GDP growth in the short term by Atul Kumar - Quantum AMC

Below is the Views on Equity Outlook  by Atul Kumar, Head Equity Funds Quantum Long Term Equity Fund & Quantum Tax Saving Fund

In November 2016, the S&P BSE Sensex fell by 4.56% on total return basis. Mid-cap and small-cap stocks, which were doing quite well earlier, registered greater decline during the month. S&P BSE Mid Cap Index fell 6.68%, while

We feel sentiments are still weak on local front - Religare Sec

Below is the views on weekly technical recommendations by Mr. Jayant Manglik, President, Retail Distribution, Religare Securities Ltd  

Markets gained over two percent in the eventful passing week, providing the much needed respite to participants. All eyes were on Monetary Policy Committee meeting from the beginning and announcement of unchanged stance on key ra

Will make India net exporter of fighter aircraft: Saab

Swedish aerospace major Saab says it would set up a brand new production line in India if it wins an Indian Air Force (IAF) contract for single-engined combat jets and would make the country a net exporter of such fighters -- once the necessary procedures are in place.

"I think we are the only one right now who is developing brand new next-generation fighters. Even if we are sing

India inflation likely cooled further in November after cash clampdown: Reuters poll

By Krishna Eluri

BENGALURU - Indian inflation is expected to have cooled to a 14-month low in November after Prime Minister Narendra Modi's surprise removal of high denomination bank notes caused an intense cash shortage and severely hurt consumption, a Reuters poll found.

Modi's announcement on November 8 that he was withdrawing 500 and 1,000 r

Rate Cut gets delayed, rate sensitive stocks to remain under pressure by Mr. Dinesh Thakkar - Angel Broking

Below is the views on Fifth Bi-Monthly Monetary Policy By Mr. Dinesh Thakkar (Chairman & Managing Director, Angel Broking) 

"With inflation under control and expectations of an economic slowdown post demonetisation we as well the stress had factored in a 25 bps rate cut. However, RBI seems to be worried on inflation spiking up due to rising crude oil pri

RBI says no notes shortage, outside Delhi hundreds face job losses

Around 8.30 every morning, hundreds of workers arrive at the main bus depot in Noida Phase II, about 30 km from New Delhi. They fan out into the lanes of the neighbouring hosiery complex. With nothing more than a tiffin box in their hands, they begin their daily job hunt.

Almost every factory gate has a board proclaiming "Avashyakta hai (wanted)". It lists the daily

RBI unexpectedly keeps rates unchanged as cash crunch roils economy

By Suvashree Choudhury and Rafael Nam

MUMBAI (Reuters) - The Reserve Bank of India (RBI) unexpectedly kept its key policy rate unchanged at 6.25 percent on Wednesday, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world's fastest growing large economy.

The RBI's monetary policy committee voted 6-0 to leave th

Indian stock market outlook downgraded as banknotes ban hits economy - Reuters poll

BENGALURU  - Sensex is expected to rise next year but it may not scale record highs predicted a few months back, a Reuters Poll showed, mainly because Prime Minister Narendra Modi's shock currency ban is seen knocking economic growth in the next few quarters.

Indian shares fell over 6 percent a day after the Nov. 8 announcement by Modi outlawing high-value ba