RBI to keep rates steady over the next 18 months: Poll

Earlier this month, the Reserve Bank of India raised a secondary rate while holding the key repo rate steady to mop up excess liquidity from the government's demonetisation drive, making it the fourth meeting in a row it has surprised markets.The Reserve Bank of India is expected to keep interest rates steady well into next year after it shifted to a neutral monetary policy stance in February, and despite having raised concerns over a potential spike in inflation, a Reuters poll found.Earlier this month, the Reserve Bank of India raised a secondary rate while holding the key repo rate steady to mop up excess liquidity from the government's demonetisation drive, making it the fourth meeting in a row it has surprised markets.

The median consensus in the poll of more than 35 economists, conducted between April 10-19, was for the policy repo rate to remain at 6.25 percent until the fourth quarter of 2018 at least, and the reverse repo rate at 6.00 percent."Inflation continues to be the biggest factor worrying the central bank.

Railways worst operating ratios in 2016-17 and 2000-01, both under BJP govts: Chidambaram

"Railways worst operating ratio in 2016-17. Previous worst in 2000-01. Both under BJP governments! Despite well- meaning minister. Problem of Railways is deeper. It cannot be run as a department of government," he said on Twitter.The problem of Indian Railways is deeper and it cannot be run as a government department, former Finance Minister P Chidambaram said today while criticising the BJP government for the public transporter reporting the "worst" operating ratio in the last fiscal."Railways worst operating ratio in 2016-17. Previous worst in 2000-01. Both under BJP governments! Despite well- meaning minister. Problem of Railways is deeper. It cannot be run as a department of government," he said on Twitter.An operating ratio indicates how much the railways spends to earn a rupee. An operating ratio of 94.9 per cent means that the railways is spending 94.9 paisa to earn 100 paisa (one rupee).

A lower figure of operating ratio is therefore regarded better and is indicative of better financial health of the system

Nepal president Bidya Devi Bhandari leaves for India

Nepal government has announced a public holiday today to mark her visit. As per custom, public holidays are announced in Nepal whenever the head of the state embarks on an official foreign visit.Nepal President Bidya Devi Bhandari left for India today on her first foreign visit, during which she will hold talks with the top Indian leadership to strengthen bilateral tiesShe left for New Delhi in a special Nepal Airlines flight from the Tribhuvan International Airport in Kathmandu.

Govt to divest 3-15% stakes in NTPC, NHPC, IOC, others; add Rs 35k cr to divestment kitty

Kicking off the divestment process for the current financial year, the government has cleared the sale of stakes in multiple state-owned companies.NLC India and 3 percent in via offer for sale

If the planned sale goes through, at current market prices, the government could end up achieving nearly 48 percent of its divestment target for the year. The highest amount would be contributed by NTPC at roughly Rs 13,300 crore, followed by IOC at Rs 6,200 crore and NHPC at around Rs 4,000 crore.To maintain its fiscal deficit target of 3.2 percent, the government had set out with an ambitious divestment target of Rs 72,500 crore for FY18. The target was to be achieved via minority stake sale totalling Rs 46,500 crore, strategic stake sales worth nearly Rs 15,000 crore, and listing of various insurance companies to add Rs 11,000.

Railways to export locos, train sets worth Rs 680 cr to Sri Lanka

Rail India Technical and Economic Service (RITES), a railways PSU, has secured its largest export order from Sri Lanka Railways for the supply of 10 broad gauge diesel locomotives and six DMU (diesel multiple units) train sets.Indian Railways will supply modern locomotives and train sets worth Rs 680 crore to Sri Lanka, in the largest export order for the public transporter.

Rail India Technical and Economic Service (RITES), a railways PSU, has secured its largest export order from Sri Lanka Railways for the supply of 10 broad gauge diesel locomotives and six DMU (diesel multiple units) train sets.DMU train sets do not require separate locomotive as the engines are incorporated into one or more of its coachesAll locomotives and train sets would be equipped with state-of-the-art technology and manufactured in Varanasi and Chennai, said a senior Railway Ministry official.