Axis Asset Management Company, the mutual fund promoted by Axis Bank, has terminated its chief trader and fund manager Viresh Joshi, who was facing allegations of front-running.
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The sharp surge in inflation in India will require front-loading of interest rate increases, two members of the central bank's Monetary Policy Committee (MPC) said in minutes of its May 4 meeting released on Wednesday.
Shares of ITC Ltd rallied nearly 5 per cent to a 52-week high early on Thursday after the company reported robust earnings.
ITC Ltd on Wednesday reported an 11.60 per cent rise in its consolidated net profit to Rs 4,259.68 crore for the fourth quarter ended in March 2022 driven by all-round growth across verticals.
The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday and asserted that it is difficult for any central bank to anticipate the future more accurately.
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