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Economists react to India’s new RBI chief announcement

NEW DELHI, Dec 10 (Reuters) – India appointed career civil servant Sanjay Malhotra as its new RBI governor on Monday in a surprise move that leaves markets guessing about the future direction of monetary policy, as growth slows and high inflation persists. With a new governor at the helm of the Reserve Bank of India and a deputy governor retiring next month, the RBI’s monetary policy committee (MCP) will have a new look. Some economists said this means rate cuts could come sooner than previously expected. The following are reactions from some economists: CAPITAL ECONOMICS “The appointment of Mr Malhotra

Ex-Karnataka CM S M Krishna no more

Bengaluru, Dec 10 (PTI) Former Karnataka Chief Minister S M Krishna died at his residence early Tuesday morning. The 92-year-old veteran politician was ailing for quite some time, a family source said. “S.M. Krishna is no more. He breathed his last at 2:45 am at his residence. Mortal remains are likely to be taken to Maddur today,” the source said. Somanahalli Mallaiah Krishna is survived by wife Prema and two daughters. Born in Somanahalli in Karnataka’s Mandya district on May 1, 1932, Somanahalli Mallaiah Krishna began his career in electoral politics in 1962 by winning the Maddur assembly seat as

India inflation likely fell in Nov on moderating vegetable prices: Reuters poll

BENGALURU, Dec 10 (Reuters) – India retail inflation likely fell to 5.53% in November after breaching the central bank’s 6% upper tolerance band as the arrival of fresh produce to markets moderated soaring vegetable prices, a Reuters poll of economists found. The Reserve Bank of India held interest rates steady last week, as predicted in a separate Reuters poll, citing price pressures, despite news of a surprise sharp slowdown in economic growth last quarter. Inflation unexpectedly rose to a 14-month high of 6.21% in October, driven by the fastest vegetable price rises in nearly four years. An additional import duty

Congress questions Odisha BJP govt’s silence on ‘Adani bribery case’, demands judicial probe

Bhubaneswar, Dec 9 (PTI) The opposition Congress on Monday questioned the Odisha BJP government’s silence on the alleged Adani bribery case in which the state has been named by a US court. The issue was raised during the Zero Hour by Congress Legislature Party leader Rama Chandra Kadam who asked, “What is the reason behind the state government’s silence? While the Andhra Pradesh and Chhattisgarh governments have already made their stands clear, the Odisha government is yet to open its mouth on the issue.” Demanding a judicial probe into it, Kadam said, “The then government had purchased green power from

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