Mumbai: The BSE Sensex and NSE Nifty erased gains after rating agency Standard & Poors' says India may become the first country among BRIC (Brazil, Russia, India and China) to lose investment grade rating. The BSE benchmark fell 50.86 points or 0.30, to close at 16668.01 on Monday. Meanwhile, the NSE benchmark fell 14.25 points or 0.28 to close at 5054.10. Even the Indian rupee depreciated 19 paise to 55.61...
09:37 AM, Jun 11, 2012
Mumbai: Interest rates in India are not too high to affect growth, Reserve Bank of India Deputy Governor KC Chakrabarty said on Friday. The country's economy grew 5.3 per cent in the March quarter, its lowest level in nine years. Most economists in a recent Reuters poll expect the central bank to cut its key interest rate by at least 25 basis points on June 18 at the mid-quarter review...
12:07 PM, Jun 08, 2012
New Delhi: India's largest lender State Bank of India (SBI) on Thursday reduced its retail deposit rates by 25 basis points in tenure up to 240 days with effect from June 08, 2012. The Reserve Bank of India (RBI) reversed its interest rate cycle by slashing policy rates by 50 bps in its April 17 annual credit policy. This was the first rate cut after 13 consecutive rate hikes. ...
12:28 PM, Jun 07, 2012
Mumbai: The rupee rose on Monday to its highest against the dollar in a week, despite a steep sell-off in global risk assets, on the back of dollar sales by corporates and exporters, as well as unwinding of long-dollar positions by banks. The recovery comes after the rupee had hit a string of record lows against the dollar in the second half of May, with the latest on Thursday when...
03:05 PM, Jun 04, 2012
Bangalore: Pinterest, the increasingly popular online bulletin board, raised $100 million in a financing round that values the US start-up at $1.5 billion, the Wall Street Journal said, citing people familiar with the matter. The funding is led by Japanese e-commerce site Rakuten, with Pinterest's existing venture-capital investors such as Andreessen Horowitz, FirstMark Capital and Bessemer Venture Partners also participating, the report said. Pinterest could not immediately be reached by...
01:09 PM, May 17, 2012
New Delhi: Most of us know Mark Zuckerberg as the CEO of Facebook, but there are a lot of interesting facts about this young billionaire that you all must know. Celebrating his 28th birthday, here we bring you 28 little-known, interesting facts about him. 1. Type @[4:0] in a Facebook comment, and Mark Zuckerberg's name will appear. 2. As a teenager Mark was an aethist. 3. Mark's father Edward Zuckerberg...
04:01 PM, May 14, 2012
Mumbai: State-run banks are likely to give in to a government directive and lower lending and deposit rates within the next few days after the Reserve Bank of India (RBI) made a deeper than expected cut to its policy rate on Tuesday. Banks had been reluctant to cut their lending rates despite a reduction in their reserve requirements, saying tight cash conditions were keeping deposit rates high and deposit growth...
05:43 PM, Apr 19, 2012
New Delhi: Car makers are hoping that bank will reduce interest rates on car loans following the RBI's cut on lending rates as the industry looks forward to overcome slow growth witnessed last fiscal. Describing RBI's cut in short term lending rate by 0.50 per cent to 8 per cent as "good direction", Maruti Suzuki India Managing Executive Officer Marketing and Sales Mayank Pareek said: "It will spur growth. I...
03:50 PM, Apr 17, 2012
The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent. ...
01:46 PM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent but did not touch the cash reserve ratio, which remains at 4.75 per cent. The cut in the repo rate is an indication that banks could reduce the interest rates on home and car loans. Tuesday's rate cut announced by the RBI in its annual...
11:14 AM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) said inflation was likely to remain near current levels during the fiscal year, with risks still to the upside, sounding a cautious note a day before it is expected to cut its policy interest rate for the first time in three years. Earlier on Monday, India reported annual wholesale price index (WPI) inflation for March at 6.89 per cent, mainly driven by higher...
05:36 PM, Apr 16, 2012
Shanghai: It is a marriage made in heaven for shopping addicts. Social shopping, the merger of social networking and e-commerce which has hooked millions of users in the United States, has now captured the attention of China's Internet giant. Alibaba Group's social shopping platform Fa Xian (faxian.etao.com), launched on a testing basis four weeks ago, is already luring 60,000 viewers a day. "Over the long run, social commerce in China...
12:44 PM, Mar 30, 2012
1. A social photo-sharing website that some call (sigh) the new Facebook killer. Its users 'pin' photographs on virtual boards sorted by 'interests'. It's as easy to use as Twitter, except that it's visual. It's about photos, but unlike with Flickr, Pinterest users pin other people's photographs, not their own. It's like a Facebook page, but less personal. 2. Facebook killer? It had 11 million users as on January, and...
11:10 AM, Mar 28, 2012
Mumbai: The Reserve Bank of India (RBI) left interest rates unchanged on Thursday and warned of resurgent inflation risks, a hawkish stance that disappointed investors clamoring for the first rate cut since the aftermath of the global financial crisis. The RBI kept its policy repo rate on hold at 8.50 per cent, as had widely been expected. It kept the cash reserve ratio unchanged at 4.75 per cent after a...
06:02 AM, Mar 16, 2012
New Delhi: Government on Thursday slashed interest rate on deposits in Employees Provident Fund from 9.5 per cent to 8.25 per cent for 2011-12 affecting over 4.7 crore subscribers. This cut was proposed by the Finance Ministry and a notification was issued by the Labour Ministry, official sources said. The Employees' Provident Fund Organisation (EPFO) had provided 9.5 per cent interest rate to its subscribers for 2010-11 after it found...
10:48 PM, Mar 15, 2012
Texas: Christina Gomez has carefully displayed her dream cribs, rockers and mobiles on Pinterest, the increasingly popular online bulletin board. Never mind that she doesn't have a baby. "Ah, Pinterest - where I dress my unborn children and decorate my imaginary mansion," the San Antonio political consultant said - on Twitter - when asked about the website. Gomez is addicted. And she's not alone. The social site where users can...
10:32 AM, Mar 14, 2012
New York: Oh, you pretty things. Just look at the mama giraffe nuzzling a baby giraffe, that lovely idea for an indoor planter made of mason jars and those perfectly cooked bacon strips cooling on a plate. This is what people are circulating on Pinterest, the latest website-of-the-moment for sharing things you love. Clean and simple to use, Pinterest attracts people who need to organise the chaos of Internet-age information...
12:18 PM, Mar 13, 2012
Chennai: India's central bank is open to more open market operations to address the issue of liquidity, said a senior official on Monday. "We are open to more open market operations if the liquidity issue needs to be addressed. The cut in CRR (cash reserve ratio) is purely a liquidity measure. It has put in Rs.32,000 crore," Subir Gokarn, deputy governor of Reserve Bank of India (RBI) told reporters here...
03:54 AM, Jan 31, 2012
The RBI has increased interest rates 13 times since March, 2010, to contain inflation and India Inc has been demanding a cut in the rates to arrest declining economic growth. ...
07:49 AM, Jan 24, 2012
New Delhi: Ahead of the monetary policy review by RBI, Commerce and Industry Minister Anand Sharma on Monday made out a strong case for lowering of interest rates in the wake of industrial slowdown. "We are of considerate view that interest rates for investment for industry should be lowered. We have taken up with the Finance Minister who is receptive and positive particularly for small and medium enterprises," Sharma told...
05:03 PM, Jan 23, 2012
