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Both India and US have resolved their differences regarding equal market access for their products and would soon sign a trade agreement."The minister (commerce minister Piyush Goyal) had gone to the US with the aim to iron out differences. His meeting with (US Trade Representatives) Robert Lighthizer on Wednesday, in this regard, was fruitful," a senior government official told Moneycontrol.Trade tensions between the two nations surfaced after India demanded exemption from high duties imposed by the US on certain steel and aluminium products. India has also demanded the resumption of export benefits to certain domestic products under their Generalised System of Preferences (GSP), greater market access for its products from sectors, including agriculture, automobile, auto components and engineering.Close A number of contentious issues between the two nations have been resolved and would and that would be reflected in the trade package that both the countries are working on, the … [Read more...] about India, US resolve major trade differences; agree on equitable market access for trade deal

Indian market witnessed pared gains and slipped in red after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided to maintain a status-quo stance on rates as against a 25 bps rate cut which was widely expected.It kept key policy rates unchanged at 5.15 percent, and the reverse repo rate unchanged at 4.9 percent.Close The RBI also flagged weakness in the global economic activity, elevated trade tensions, and geopolitical uncertainty. The governor also highlighted concerns on the slow transmission of rate cuts to the end consumer. related news Nifty may head towards 12,350, 12,500; top 5 buying ideas which can return 12-17% D-Street Buzz: Nifty Metal underperforms dragged by JSPL; Zee Ent jumps 6%, VIX spikes The transmission has gained some momentum in recent weeks, with the weighted average lending rate on fresh rupee loans sanctioned by banks declining 44 basis points. Remember, RBI has slashed interest rates by 135bps since Feb 2019.The RBI raised … [Read more...] about Taking Stock: RBI’s ‘temporary pause’ hits D-St; Nifty holds 12k

The Reserve Bank of India (RBI) is likely to give it’s nod to the merger between the private sector lender — Lakshmi Vilas Bank (LVB) and the non-banking finance company (NBFC) Indiabulls Housing Finance (IBH), despite its earlier aversion to entities with linkages with the real estate sector.While there are concerns on IBH’s previous experience with the regulator, there are chances that the regulator may hold a different opinion this time around.“At that time, the RBI was very conservative in terms of allowing new entrants into the banking system. So, only two entities were found suitable as compared to other applicants for the licence,” said R Gandhi, former Deputy Governor, RBI. He added that as per the previous policy, exposure to sensitive sectors would have led to hesitation in granting licences. However, that is not a condition anymore.The RBI laid out new guidelines for banking licences in April 2016, which are 'on tap', implying that … [Read more...] about RBI may bless the Lakshmi Vilas Bank-Indiabulls Housing Finance merger