The Reserve Bank of India kept interest rates unchanged on Monday after cutting them in each of its previous three policy reviews, warning of upward risks to inflation posed by a falling rupee and increases in food prices.
Monetary and Liquidity Measures
On the basis of an assessment of the current macroeconomic situation, it has been decided to:
- keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4 per cent of their net demand and time liabilities; and...
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11:32 AM, Jun 17, 2013
Mumbai: The Reserve Bank of India kept interest rates unchanged on Monday after cutting them in each of its previous three policy reviews, warning of upward risks to inflation posed by a falling rupee and increases in food prices. The RBI also called for vigilance over global economic uncertainty, citing the risks of a reversal of capital flows from emerging markets. Such outflows, fueled by investor worries that the US...
11:04 AM, Jun 17, 2013
Mumbai: Ahead of the mid-quarter review of monetary policy on Monday, the State Bank of India has said if the apex bank cannot reduce CRR rate, which is a must for lending rate cuts by banks, they should pay interest on cash reserves that banks park with the monetary authority. Incidentally, most analysts expect the RBI to hold rates during its mid-quarter monetary policy review. "If a CRR cut cannot...
02:48 AM, Jun 17, 2013
London: English county side Essex on Friday posted their lowest total since 1901 after Lancashire bowled them out for just 20. Essex were already behind by 125 runs after the Red Rose made 398 in their first innings in a second division county championship match at Chelmsford. But Lancashire ripped through the Essex batting, dismissing six batsmen for ducks. Top scorer was opener Jaik Mickleburgh with 10. Veteran seamer Glenn...
10:34 PM, Jun 14, 2013
Mitchell McClenaghan, the New Zealand left-arm quick, has been signed up by Lancashire for the Friends Life t20. The 27-year-old is the leading wicket-taker in the ongoing ICC Champions Trophy with eight from two matches and will joined former Australia batsman Simon Katich as the club's overseas option for their T20 campaign that starts later this month. "I am delighted to be joining Lancashire for the Friends Life t20," said...
03:09 PM, Jun 14, 2013
Mumbai: The salary accounts of many Mumbai Police personnel have been hacked. The Mumbai Police has formed a team headed by a DCP to investigate the hacking of salary accounts. The bank has been asked to investigate and give a report to the team. The police are in the process of filing an FIR. It's a case of identity theft, where ATM withdrawals seem to have taken place in some...
01:01 PM, Jun 14, 2013
Kolkata: West Bengal Chief Minister Mamata Banerjee on Monday questioned the Congress-led UPA government on its "hurriedness" to pass the National Food Security Bill. "A special session of parliament is reportedly being convened shortly to consider and pass the National Food Security Bill. Is this the right time for UPA-II to rush through and legislate on a major issue, particularly when the general election is knocking at the door? That...
05:58 AM, Jun 04, 2013
New Delhi: Direct transfer scheme for LPG cylinder subsidy has come into force from June 1. Under the scheme, the government will transfer Rs 435 directly in the bank accounts of LPG consumers in 18 districts of the country. Consumers will get the money each time they book for an LPG refill. These consumers then will have to buy cooking gas at market price. The government hopes to save Rs...
09:20 AM, Jun 01, 2013
London is in shock after a British soldier was beheaded by two armed men outside military barracks in Woolwich. ...
11:02 PM, May 23, 2013
New Delhi: The BJP on Friday took exception to CBI director Ranjit Sinha's remarks that former minister Pawan Kumar Bansal has a strong defence in the case of alleged bribery involving his nephew. BJP vice president Mukhtar Abbas Naqvi said that Sinha's remarks were "very unfortunate". "The matter is sub judice and the investigative agency is saying that there may not be concrete evidence," Naqvi told IANS. "The matter should...
04:40 AM, May 18, 2013
New Delhi: The CBI probe on the railway recruitment scam, that toppled Pawan Bansal as the Railways Minister, has widened to reach the doorstep of West Bengal Chief Minister Mamata Banerjee. Sources say that the CBI will now probe the role of former Railway Board Chairman Vivek Sahai. Sources said that the CBI is investigating why Sahai held additional charge as Member, Traffic, and why another eligible candidate was denied...
04:50 PM, May 13, 2013
Shimla: The Himachal Pradesh BJP, which has been opposing FDI in retail, on Saturday said it would not allow foreign stores like Walmart into the state "Foreign chains like Walmart and Metro Cash and Carry will not be allowed to enter Himachal and the interests of small traders will be fully safeguarded," state BJP president Satpal Singh Satti said. He was reacting to Civil Supplies minister GS Bali's announcement to...
01:53 AM, May 12, 2013
Chandigarh: A day after he was forced to step down, former railways minister Pawan Kumar Bansal on Saturday night maintained that he had nothing to do with the bribery allegation for which his nephew was arrested by the Central Bureau of Investigation (CBI). "I have nothing to do with it (bribery allegation)," Bansal, the Lok Sabha MP from Chandigarh, told reporters in Chandigarh on arrival from the national capital. Bansal,...
10:44 PM, May 11, 2013
New Delhi: The Central Bureau of Investigation (CBI) has secured key leads linking Railway Protection Force (RPF) to Recruitment Scam to Railway cash-for jobs scam, said sources. CBI sources added that RPF officials played key role in dubious recruitment deals. Leads suggest that RPF association was used to carry out deals and a hawala route was used for cash dealings. The Home Ministry had recommended banning of RPF Association but...
01:52 PM, May 11, 2013
Mumbai: Reserve Bank Governor D Subbarao on Monday said the Reserve Bank will consider all options available, including reducing the cash reserve ratio (CRR), to manage liquidity in the system. "The assumption that OMOs will be the preferred tool is wrong. Don't go with that assumption. We will use all options available to us depending on the liquidity situation... it could be OMOs, it could be CRR (cut) or it...
02:27 AM, May 07, 2013
London: British MP and senior Conservative Party politician Nigel Evans was arrested on Saturday by the London Police after being accused of raping two men. The reports identify the politician as Deputy House of Commons Speaker Nigel Evans, a 55-year-old from Lancashire, northwest England, who has served in Parliament for two decades. The alleged victims are understood to be men in their 20s. It is understood that Prime Minister David...
07:23 AM, May 05, 2013
London: British media say that a senior Conservative Party politician has been arrested for questioning on suspicion of rape and sexual assault. The reports identify the politician as Deputy House of Commons Speaker Nigel Evans, a 55-year-old from Lancashire, northwest England, who has served in Parliament for two decades. British police do not identify people arrested for questioning who have not been charged. Asked about the arrest of Evans, Lancashire...
03:00 AM, May 05, 2013
New Delhi: BJP MP Faggan Singh Kulaste and former MP Mahabir Singh Bhagora, who are accused in the 2008 cash-for-vote scam, on Saturday told a Delhi court that they were whisteblowers and their intention was to "expose horse trading" in Parliament. "Our intention from the beginning was to expose horse trading and the substance of the entire charge sheet filed by the Delhi Police shows that it was a sting,"...
05:44 PM, Apr 27, 2013
London: Lancashire's Jordan Clark has become only the fifth batsman to hit six sixes in one over during a professional cricket match. The English County said in a statement on Wednesday that the 22-year-old had achieved the feat in a Championship Second XI game against Yorkshire to join an illustrious list of names. Former West Indies all-rounder Garfield Sobers was the first man to do it, in 1968, and Indian...
03:11 AM, Apr 25, 2013
Singapore: Gold plunged to a more than two-year low on Tuesday, extending a brutal sell-off that is likely to persist amid fears over central bank sales and global growth, while investors frustrated by the metal's lacklustre performance dumped their holdings. Bullion posted its biggest ever daily drop in dollar terms in the previous session and is now down about 20 per cent so far this year, after stellar gains over...
09:00 AM, Apr 16, 2013
