Policy
From July 1, GST returns pending three years can’t be filed
Starting July 2025, GSTN will restrict taxpayers from filing returns after three years from the due date, following a Finance Act amendment. Taxpayers are urged to reconcile records and file pending returns for GSTR-1, GSTR-3B, and GSTR-9 promptly. Experts believe this promotes tax discipline, though concerns exist regarding taxpayers facing genuine hardships.
Govt appoints RBI Deputy Governor T Rabi Sankar as 16th FinComm member
T Rabi Sankar, Reserve Bank of India Deputy Governor, joins the Sixteenth Finance Commission as part-time member. This follows Ajay Narayan Jha's resignation. Arvind Panagariya chairs the commission. The panel includes full-time members Annie George Mathew and Manoj Panda. Soumya Kanti Ghosh is also a part-time member. The commission will submit its report by October 31, 2025.
RBI's 50 bps rate cut surprise: Two economists who beat the crowd are back with another call
RBI rate cut: Soumya Kanti Ghosh and Debopam Chaudhuri foresee more rate cuts. This contrasts with most experts anticipating the end of easing. Chaudhuri expects additional cuts through FY26, aligning with the US Federal Reserve. He anticipates a 25 bps cut in October 2025 and February 2026. This would bring the repo rate to 5%, contingent on inflation staying below 4%.
Rate cut cycle likely over now, policy to stay data-driven: Union Bank of India
Union Bank of India's report suggests the RBI's recent actions signal the end of the interest rate cutting cycle, projecting a terminal repo rate of 5.50 per cent. The RBI's "stealth easing," including rate cuts and liquidity measures, aims to boost credit growth, though the impact may take several quarters to materialize.
Lending rates to fall by 30 bps after RBI policy cut: SBI Report
State Bank of India projects a drop in lending rates. This follows the policy rate cut. Loans linked to external benchmarks will see immediate impact. Banks' margins may be affected. Reserve Bank of India's CRR cut could help. Fixed deposit rates are already declining. Further cuts are expected. The report anticipates no change in policy rates next quarter.
Cheaper home and car loans: India Inc gets a booster and fire power to drive growth
Home, personal, and car loans tied to external benchmarks, such as the repo rate, will see an immediate downward reduction. However, loans tied to the marginal cost of funds-based lending rate (MCLR), like corporate exposures, will take longer to head lower. Policy action, Reserve Bank of India (RBI) Governor Sanjay Malhotra said, is geared toward boosting broader credit demand for which monetary support is a "necessary condition", although not sufficient.
New stats register soon to help gauge business outlook
The government is set to launch a Statistical Business Register (SBR) to compile data on businesses at the district and state levels. This initiative by the Ministry of Statistics and Programme Implementation (MoSPI) aims to improve business surveys and market analysis.
RBI lowers inflation forecast, but retains growth forecast
The Reserve Bank of India has revised its FY'26 consumer inflation target downwards to 3.7%, from the earlier 4% projection made in April, while maintaining a growth forecast of 6.5%. This revision is influenced by declining CPI inflation, particularly in food, and expectations of a favorable monsoon season boosting crop production.
ET analysis: RBI Guv Sanjay Malhotra gets breather from rate cut pressure at MPC meet
RBI Governor Sanjay Malhotra, after a significant rate cut and CRR reduction, signals a shift in monetary policy. His actions, deviating from traditional central banking norms, aim to stimulate the economy and encourage banks to lower lending rates. Malhotra's bold move reflects a belief in decisive action over cautious deliberation, potentially influencing asset allocation and economic growth.
RBI reschedules next MPC meeting to August 4–6; cites administrative exigencies
The Reserve Bank of India has changed the date for its next Monetary Policy Committee meeting. The meeting was originally scheduled for August 5-7, 2025. Now, the MPC will meet from August 4-6, 2025. The RBI stated that this change is due to administrative reasons. The announcement follows Section 45ZI(4) of the Reserve Bank of India Act, 1934.
Must Watch
RBI has done its bit for growth, expect everyone else to do their's: Governor Sanjay Malhotra
RBI Governor Sanjay Malhotra stated that the central bank has taken significant steps to boost economic growth, emphasizing that other stakeholders should now contribute. He highlighted the RBI's 100 bps rate cut since February 2025 and the shift to a neutral policy stance, indicating limited further monetary policy support.
Uday Kotak hails RBI's MPC decision to cut 50 bps repo rate, 100 bps CRR as ‘bold and strategic’
Uday Kotak lauded the central bank's monetary policy announcement as bold and strategic. He emphasized the 50 basis point rate cut, the 100 basis point CRR reduction, and the shift to a neutral policy stance. Kotak believes this nuanced approach effectively balances economic growth with the need to maintain macroeconomic stability amidst global challenges and weak demand.
RBI's 'bold' 50 bps cut to reduce interest rates, improve credit access: India Inc
Reserve Bank of India reduced the interest rates. This move aims to boost economic growth amidst global challenges. The central bank also lowered the cash reserve ratio. This will increase liquidity in the banking system. The rate cut should encourage borrowing and investment. Experts believe this will support consumption and credit demand. The RBI expects economic growth at 6.5 percent.
RBI cuts repo rate by 50bps; here's what key economists say
The Reserve Bank of India (RBI) surprised markets by reducing the repo rate by 50 basis points to 5.5% and cutting the Cash Reserve Ratio (CRR) by 100 basis points. This move aims to boost economic growth amid subdued momentum and easing inflation.
RBI’s big-bang policy approach has no room for incrementalism
RBI Governor Sanjay Malhotra surprised markets with a larger-than-expected repo rate cut and a reduction in the cash reserve ratio (CRR). This move, defying economists' predictions, aims to bolster economic growth amidst global uncertainties like trade tariffs and inflation. Malhotra emphasized that while price stability is crucial, a supportive policy environment is equally vital for growth, especially during uncertain times.
No more rate cuts? RBI may watch the ball before hitting after scoring a century
Reserve Bank of India shifted its monetary policy stance. The stance moved from accommodative to neutral. This decision follows a 50 bps rate cut in June 2025. RBI has already cut rates by 100 bps this year. The Monetary Policy Committee cited global economic uncertainty. Volatile commodity prices also influenced the decision. Future actions will depend on incoming data.
