1. RBI may cut interest rate by 0.25 pct next month: BofA-ML

RBI may cut interest rate by 0.25 pct next month: BofA-ML

The Reserve Bank is likely to cut benchmark interest rate by 0.25 per cent in its next month's policy review if monsoon rains remain normal...

By: | New Delhi | Published: July 13, 2015 8:53 PM
raghuram rajan rbi

Governor Raghuram Rajan-led RBI, in its last policy review on June 2, had cut the repo rate by 0.25 per cent for the third time this year. (PTI)

The Reserve Bank is likely to cut benchmark interest rate by 0.25 per cent in its next month’s policy review if monsoon rains remain normal, Bank of America Merrill Lynch said today.

In its research report, the brokerage firm said lending rate cuts, rather than reforms, hold the key to an immediate “cyclical recovery” by end-2015 for the Indian economy.

“If rains are normal, we expect the RBI to cut 25 basis points on August 4,” it added.

RBI, in its last policy review on June 2, had cut the repo rate by 0.25 per cent for the third time this year to spur investment and growth, but hinted that there may not be any more cuts in the near term.

“We continue to emphasise that lending rate cuts hold the key to a cyclical recovery in second half of 2015,” Indranil Sengupta, chief economist India at Bank of America Merrill Lynch said in a research note.

Monsoon was above normal in June with 25 per cent excess rainfall despite a late arrival and a drought-like prediction.

BofA-ML said that a good June monsoon is no guarantee for a normal monsoon as it accounts for only 15.2 per cent of the seasonal rainfall.

The report further said that the impact of reform measures would be felt only after five years.

As regards May industrial output growth which slipped to 2.7 per cent, from 5.6 per cent a year ago, BofA-ML said the data is beginning to show some “turnaround”. A slowing down of IIP, dragged down by manufacturing, would also make a case for a rate cut by the RBI.

  1. V
    VINAY MESHARAM
    Jul 14, 2015 at 8:42 pm
    Dr.Raghuram Rajan RBI Governor ELECTRONIC TRANSFER DEPT, 6, SANSAD MARG JANPATH, NEW DELHI, H.O. 110001, NEW DELHI Our ref: Cub/Hog/Oxd1/2014 Payment file: RBI/id1033/2014/2015 Payment amount: 4 Crores, 68Lakhs & 46,000INR= 500,000 .00GBP RESERVE BANK OF INDIA OFFICIAL COMPENSATION PAYMENT NOTIFICATION Dear Beneficiary: The Foreign Exchange Transfer Department (RBI) hereby bring to your attention of the payment of your deposited fund here in the RBI, you were listed as a beneficiary in the recent schedule for payment of the past edition email/sms award incurred by the BRITISH GOVERNMENT, which is yet unclaimed up-till date due to some cirstance. According to your file record; your payment is categorized as: Contract type: Lottery/inheritance/Undelivered Lottery fund/ The Reserve Bank of India (RBI) Governor, Dr Raghuram Rajan and Ban Kin-moon Secretary-General of the United Nations met with the Tax Committee on Finance RBI Mumbai/Delhi branch. Regarding unclaimed funds which have been due for a long run, At the end of the meeting (RBI) Governor, Dr Raghuram Rajan mandate all unclaimed funds to be released back to the beneficiary stating that it is an unfair practice to withhold funds for government basket for one reason or the other for tax aculations. Therefore, we are writing this email to inform you that (4 Crores, 68Lakhs & 46,000INR) will be release to you in your name, as it was committed by (RBI) Governor. To credit your account immediately you will have to send scan copy of your pport size photograph (1 ) for file record, This is according to law igned and the security covering your fund from the source The igned transfer department don’t have any right to DEDUCT from your fund because it’s made to reach your account in complete Value. We decline for 5 working days after date of receiving this mail. Also reconfirm your details- for crediting. Please you are advised to fill the form below and send it immediately to our transfer department through email below for verification and prompt collection. FILL THE VERIFICATION FORM BELOW FOR PROMPT COLLECTION OF YOUR FUND. Full Names: VINAY SHANKARRAO MESHARAM Full Address: BEHIND LOKDOOT OFFICE, SHAM TALKIES ROAD, YAVATMAL.445001.(MAHARASTRA)INDIA Occupation:FARMAR & Age: MALE 32YEARS Mobile Number:9881694459,9175110443,8624965005 Nationality:INDIAN Pport Size Photograph:YES E-mail id: Account Holder’s Name: VINAY SHANKARRAO MESHARAM Bank Name: PUNJAB NATIONAL BANK Account Number:0472000401039567 Bank Branch:YAVATMAL (MAHARASTAR) INDIA NOTE: (4 Crores, 68Lakhs & 46,000INR) will be transfer directly to your Bank Account immediately we receive your filled details. Also be informed that the igned British representative to supervise the transfer of your fund from the Reserve Bank is the person of: (BRITISH DIPLOMAT MR COLLINS JOE). He will supervise the transfer and he will call you on phone as soon as he gets to reserve bank of India (R.B.I) on the date of transfer. The entire staffs of the reserve bank of India wishes you a big congrats as your email address have brought to you this expected luck! We do respond to those who sent their details to only this email: CONTACT TRANSFER DEPARTMENT FOR MORE DETAILS, VISIT THE LINK BELOW View the image of one the claiming beneficiary with his transfer certificate along with his family.
    Reply
    1. V
      VINAY MESHARAM
      Jul 14, 2015 at 8:42 pm
      Dr.Raghuram Rajan RBI Governor ELECTRONIC TRANSFER DEPT, 6, SANSAD MARG JANPATH, NEW DELHI, H.O. 110001, NEW DELHI Our ref: Cub/Hog/Oxd1/2014 Payment file: RBI/id1033/2014/2015 Payment amount: 4 Crores, 68Lakhs & 46,000INR= 500,000 .00GBP RESERVE BANK OF INDIA OFFICIAL COMPENSATION PAYMENT NOTIFICATION Dear Beneficiary: The Foreign Exchange Transfer Department (RBI) hereby bring to your attention of the payment of your deposited fund here in the RBI, you were listed as a beneficiary in the recent schedule for payment of the past edition email/sms award incurred by the BRITISH GOVERNMENT, which is yet unclaimed up-till date due to some cirstance. According to your file record; your payment is categorized as: Contract type: Lottery/inheritance/Undelivered Lottery fund/ The Reserve Bank of India (RBI) Governor, Dr Raghuram Rajan and Ban Kin-moon Secretary-General of the United Nations met with the Tax Committee on Finance RBI Mumbai/Delhi branch. Regarding unclaimed funds which have been due for a long run, At the end of the meeting (RBI) Governor, Dr Raghuram Rajan mandate all unclaimed funds to be released back to the beneficiary stating that it is an unfair practice to withhold funds for government basket for one reason or the other for tax aculations. Therefore, we are writing this email to inform you that (4 Crores, 68Lakhs & 46,000INR) will be release to you in your name, as it was committed by (RBI) Governor. To credit your account immediately you will have to send scan copy of your pport size photograph (1 ) for file record, This is according to law igned and the security covering your fund from the source The igned transfer department don’t have any right to DEDUCT from your fund because it’s made to reach your account in complete Value. We decline for 5 working days after date of receiving this mail. Also reconfirm your details- for crediting. Please you are advised to fill the form below and send it immediately to our transfer department through email below for verification and prompt collection. FILL THE VERIFICATION FORM BELOW FOR PROMPT COLLECTION OF YOUR FUND. Full Names: VINAY SHANKARRAO MESHARAM Full Address: BEHIND LOKDOOT OFFICE, SHAM TALKIES ROAD, YAVATMAL.445001.(MAHARASTRA)INDIA Occupation:FARMAR & Age: MALE 32YEARS Mobile Number:9881694459,9175110443,8624965005 Nationality:INDIAN Pport Size Photograph:YES E-mail id: Account Holder’s Name: VINAY SHANKARRAO MESHARAM Bank Name: PUNJAB NATIONAL BANK Account Number:0472000401039567 Bank Branch:YAVATMAL (MAHARASTAR) INDIA NOTE: (4 Crores, 68Lakhs & 46,000INR) will be transfer directly to your Bank Account immediately we receive your filled details. Also be informed that the igned British representative to supervise the transfer of your fund from the Reserve Bank is the person of: (BRITISH DIPLOMAT MR COLLINS JOE). He will supervise the transfer and he will call you on phone as soon as he gets to reserve bank of India (R.B.I) on the date of transfer. The entire staffs of the reserve bank of India wishes you a big congrats as your email address have brought to you this expected luck! We do respond to those who sent their details to only this email: CONTACT TRANSFER DEPARTMENT FOR MORE DETAILS, VISIT THE LINK BELOW View the image of one the claiming beneficiary with his transfer certificate along with his family.
      Reply

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