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MONEY & BANKING
MONETARY POLICY:
RBI leaves key rates unchanged
GDP target lowered to 7.5-8%. Mumbai, Oct. 24 Belying market expectations of further measures to boost investor sentiment, the Reserve Bank of India on Friday left all its key rates – repo, reverse repo and CRR – unchanged, in its ...
FOREX:
FIIs selling pulling down Re: Kamal Nath
The ongoing sell-off by foreign institutional investors (FIIs) in the stock markets has pulled down the rupee against the dollar, the Union Commerce and Industry Minister, Mr Kamal Nath, said here ...
FINANCIAL MARKETS:
Diamond biz in Surat goes on a longer holiday
DOWNTURN BLUES. The diamond business, which was estimated to have fetched revenues and foreign exchange worth about Rs 75,000 crore annually only a couple of years ago, no ...
FINANCIAL POLICY:
Are Govt moves a futile exercise?
Chennai, Oct. 24 The Government, in coordination with SEBI and Reserve Bank of India, has announced a slew of measures to calm market sentiment amid global turmoil and improve domestic liquidity. But it seems those measures turned out to ...
FOREX:
Market trends point to further downside in rupee
FIIs’ exit, yen carry trade reversals weigh down sentiment. Bangalore, Oct. 24 The rupee has shed about 25 per cent since the beginning of this financial year on the back of massive exodus by foreign institutional investors ...
CREDIT POLICY:
For the RBI Governor, a baptism by fire
Mumbai, Oct. 24 Dr Subbarao is very conscious of the tumultuous times in which he has assumed charge of the Reserve Bank of ...
CREDIT POLICY:
More measures needed
It has been a roller-coaster ride. Inflation which was seen as a major issue in the previous policy of July 2008 mainly on cost-push and demand-push factors is no more a bother, thanks to more than 50 per cent reversal in domestic and ...
CREDIT POLICY:
Rate rises to rate cuts
While markets were expecting interest rates to be changed at the quarterly policy meeting, the lack of action should be seen in the context of the frenetic activity of recent ...
FOREX:
‘Volatile rupee calls for agile hedging’
Oct. 24 In these volatile times of foreign exchange fluctuations, Indian companies say they have to be flexible in hedging their transactions. Business Line spoke to a cross-section of chief financial officers to ...
CREDIT POLICY:
Appropriate inaction
The month of October saw an extremely swift move by the RBI to address domestic liquidity concerns in an environment where severe stress in the global financial system began to impact Indian markets as well. The RBI actions signalled an ...
CREDIT POLICY:
‘RBI will act swiftly when needed’
Policy on expected lines, we will ride out the global crisis: Chidambaram. New Delhi, Oct. 24 The Finance Minister, Mr P. Chidambaram, said on Friday that the Reserve Bank of India’s mid-term review of the Annual Policy statement for the ...
CREDIT POLICY:
Injecting liquidity, proactively
As we have been observing the past few weeks, the RBI has been making swift moves to arrest the prevailing global financial crisis from making any deep inroads into our ...
CREDIT POLICY:
‘Policy underscores strength of economy’
Chennai, Oct. 24 The Credit Policy presents a comprehensive analysis of developments in both the global and domestic markets and underscores the strong fundamentals of India’s economic development, according to Ms ...
FOREX:
Rupee breaches 50-mark
The rupee crossed the psychologically important mark of 50 against the dollar in intra-day trade in an extremely volatile market. The domestic currency fell by 14 paise against the greenback after the Reserve Bank intervention ensured that the ...
PUBLIC SECTOR BANKS:
Corporation Bank awards
Corporation Bank has announced national excellence awards for 21 entrepreneurs consisting of micro, small and medium entrepreneurs and an emerging corporate. A press release said here that Corporation Bank has instituted national awards ...
FOREX:
Weakening rupee makes exporters anxious
Tough stance of overseas buyers, inflation pressures add to worries. New Delhi, Oct. 24 The breaching of the psychological barrier of Rs 50 per dollar on Friday with the rupee shedding more than a quarter of its value since the start of the year ...
MONETARY POLICY:
No light
For a Mid-Term Review “set in the context of several complex and compelling policy challenges”, the Reserve Bank of India has no prescriptions to offer. It is true the central bank has been confronting the domestic liquidity ...
CREDIT POLICY:
Bankers undecided yet on rate cut moves
Oct. 24 There were mixed reactions among bankers to the revision of rates of interest on advances. While some suggested there could be an immediate downward revision, some others preferred to wait and ...
CREDIT MARKET:
SEZ developers, units eligible for concessional financing
New Delhi, Oct. 24 Special Economic Zone (SEZ) developers and units would now be eligible for concessional financing that was available for infrastructure sector, with an Empowered Group of Ministers on Friday deciding that all activities ...
FINANCIAL PERFORMANCE:
IDBI Bank profit flat
IDBI Bank continued to report flattish profits in the second quarter also. Net profits crawled up by a mere 4% to Rs.162 crore. The bank had reported identical numbers in the first quarter ...
FINANCIAL PERFORMANCE:
BoM net drops 22% in Q2 on provisioning
Mangalore, Oct. 24 Bank of Maharashtra recorded a 22 per cent decline in net profit in the second quarter of 2008-09 due to provisioning. The bank registered a net profit of Rs 70.55 crore as against Rs 90.45 crore in the corresponding period ...
INSIGHT:
More liquidity than required
Perhaps for the first time in recent memory, the Mid-Term Review of Monetary Policy of the RBI was a non-event. Major measures had already been announced a few days back by the Finance Ministry taking the sheen off the ...
MONETARY POLICY:
A trigger for bold initiatives
Mid-term review of monetary policy. The RBI has announced its mid-term review of the annual monetary policy for 2008-09. The central bank had already taken pre-emptive action in respect of liquidity and signalling interest rates well before the ...
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