FIIs have been on a withdrawing spree in September and October on the back of US providing more attractive options for investing. In September, they pulled out Rs 21,035 crore from the Indian capital market.

A weak trend in gold markets as the dollar firmed after the US Federal Reserve kept interest rates steady with another hike expected next month, diminished the appeal of gold as safe haven.

If the data meets forecasts, October will mark the third straight month retail inflation has been below the Reserve Bank of India's medium-term target of 4%, supporting the central bank's surprise decision to hold interest rates at its meeting last month.

RBI has paid over Rs 50,000 crore every year with the exception of demonetisation year, when its income fell and expenditures rose because of printing of notes etc.

In the Survey, Subramanian argues that there is no particular reason for RBI to retain excess capital within itself. He points out that even at current levels, the RBI is already exceptionally highly capitalised.

SEBI orders Sahara Group to refund Rs 14,000 crore to investorsIn a major setback to Subrata Roy, SEBI has found that another Sahara group firm has raised over Rs 14,000 crore in violation of legal norms and has issued a fresh order on Wednesday to the company and its directors to refund the money to investors with 15 percent annual interest. The order relates to collecting funds between 1998 and 2009 from nearly 2 crore investors through through optionally fully convertible debentures (OFCD)...

The furore against the supposed unprecedented move forced the ministry of finance to issue a clarification which cleverly didn't mention Section 7.

RBI Deputy Governor Viral Acharya compared government's 'myopic' economic policies to a T20 cricket match, in contrast to the long-term planning of a central bank, which he called a Test match.

If India's democracy has to thrive and it aspires to create independent and autonomous institutions of the nature of the Federal Reserve, it needs to go the legislative route.

The Sensex lost 14% or over 5,640 points and Nifty is down 14.71% or 1,730 points since August end.