Currency with public declines slightly as ATMs run dry

According to the RBI data, there was a 4 percent increase in currency in the hands of the public at Rs 12.64 lakh crore as on March 31, as against a 7 percent rise a fortnight agoAs ATMs run out of cash, the pace of currency availability with the public slowed towards the end of March.

According to the RBI data, there was a 4 percent increase in currency in the hands of the public at Rs 12.64 lakh crore as on March 31, as against a 7 percent rise a fortnight ago at Rs 12.13 lakh crore as on March 17. The increase in the preceding two fortnights was 6.8 per cent and 8.5 percent.The currency with public was at a low of Rs 7.8 lakh crore in December, immediately after the cash ban, while it was at a peak of Rs 17.01 lakh crore as of October-end before demonetisation.Nearly five months since the Prime Minister Narendra Modi announced the sudden doing away of old Rs 500 and Rs 1000 rupee notes on November 9, there has been a gradual pickup in the cash in circulation in the economy, but now seems to be some liquidity crunch again in some regions of the country.

SC allows NDMC to e-auction Taj Mansingh hotel

A bench comprising Justices P C Ghose and R F Nariman allowed the plea of New Delhi Municipal Council (NDMC) that the Tata Group firm cannot have the right to refusal in the auctioning of the hotel.The Supreme Court today allowed civic agency NDMC to e-auction five-star hotel Taj Mansingh, presently being run by Tata Group firm Indian Hotel Company Ltd (IHCL), in the heart of the national capital.A bench comprising Justices P C Ghose and R F Nariman allowed the plea of New Delhi Municipal Council (NDMC) that the Tata Group firm cannot have the right to refusal in the auctioning of the hotel.The bench, however, asked the civic body to grant six months "breathing time" to the company in vacating the hotel in case they lose out in the e-auction.The court also said that the "blemish-free" record of Tata Group firm IHCL may be taken into account by NDMC while auctioning the iconic property.The civic body had on March 3 told the apex court that it wants to e-auction the hotel.The court had earlier asked IHCL, which challenged a Delhi High Court order allowing auction of the hotel, to file objections, if any, within a week.

Panama Papers: Pakistan SC to decide Nawaz Sharif’s fate today

The case essentially seeks disqualification of 67-year-old Sharif over his alleged misstatement in his address to the nation on April 5 and his speech before the National Assembly on May 16, 2016.The Supreme Court in Pakistan will deliver its verdict in the high-profile Panama Papers case involving the country’s Prime Minster Nawaz Sharif and his family. Elections in Pakistan next year have increased the significance of the verdict for Sharif and his PML-N party.

The case essentially seeks disqualification of 67-year-old Sharif over his alleged misstatement in his address to the nation on April 5 and his speech before the National Assembly on May 16, 2016.Cricketer-turned-politician Imran Khan 

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