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
New Delhi: CBI and Enforcement Directorate on Friday placed before the Supreme Court fresh status reports on the progress of probe into the 2G spectrum scam which also contained their responses to allegations of interference of an influential minister in the investigation against some firms. "I have two status reports from ED and CBI in sealed covers on each issue raised by the petitioners. Our full reply is by way...
07:22 PM, Jan 20, 2012
Mumbai: The Reserve Bank of India (RBI) will not cut interest rates at its review on Tuesday, although it is nearly unanimously expected to do so by the end of June, a Reuters poll of 22 economists showed. Seven out of 20 respondents expect the RBI to cut banks' cash reserve ratio (CRR), the proportion of deposits that must be held with the central bank, by 25 or 50 basis...
04:36 PM, Jan 18, 2012
New Delhi: Chief Economic Advisor to the Indian Government Kaushik Basu, in an interview with Rajdeep Sardesai, said that there is a risk of politics scoring over economy and hoped politics does not come in the way of determining petrol prices. Excerpt of the interview: Rajdeep Sardesai :Let's go straight across to the Chief Economic Advisor to the Finance Minister Mr Kaushik Basu. I appreciate your joining on CNN-IBN. Mr...
07:49 PM, Jan 02, 2012
New Delhi: Congress on Tuesday assailed the BJP for creating an uproar in Parliament demanding Home Minister P Chidambaram's resignation in the wake of the hotelier controversy and asked if it was a pointer to the opposition party's dwindling faith in parliamentary democracy. "The BJP is not allowing Parliament to function. Sometimes, they create uproar in one House and sometimes in the other. Has their faith in democracy and Parliament...
09:53 PM, Dec 20, 2011
New Delhi: Leader of Opposition and senior BJP leader Arun Jaitely admitted that Parliament should not be disrupted but added that Home Minister P Chidamabram needs to explain his ministry's role in the conflict of interest case. Jaitley was speaking to Karan Thapar on Devil's Advocate. Here's the entire transcript of the interview Karan Thapar: Hello and welcome to Devil's Advocate. Why does the BJP keep disrupting Parliament and how...
06:22 PM, Dec 18, 2011
New Delhi: There is a new twist in Home Minister P Chidambaram's alleged conflict of interest case. In an interview to CNN-IBN, hotelier SP Gupta, who has been accused of using his alleged proximity to the Home Minister to quash criminal proceedings against him, has outrightly denied the charges. He said that he has never met Chidambaram and that the Home Minister was hired by his legal team to represent...
04:32 PM, Dec 18, 2011
New Delhi: Leader of Opposition and senior BJP leader Arun Jaitely admitted Parliament should not be disrupted but added that Home Minister P Chidamabram needs to explain his ministry's role in the conflict of interest case. Jaitley was speaking to Karan Thapar on Devil's Advocate. Karan Thapar: Why is disrupting Parliament the first and often the only way the BJP chooses to protest against the government? Arun Jaitley: You see,...
09:27 AM, Dec 18, 2011
Banglaore: For more than 13,000 Bangaloreans, Team Anna was no less than an international rock band. On Saturday, Freedom Park had become a congress for all anti-corruption patrons, mostly young, who had assembled to catch a glimpse of the man who had captured the entire nation's imagination. Slogans of 'Bharat Mata Ki Jai' and 'Inquilaab Zindabad' echoed all over the place, as feelings of patriotism overpowered the milieu. Thousands of...
08:31 AM, Dec 18, 2011
New Delhi: Prime Minister Manmohan Singh on Saturday defended Home Minister P Chidambaram, who is facing allegations of conflict of interest. IBN network had reported how the Home Ministry recommended dropping prosecution against a former client of Chidambaram. The Prime Minister said, "I am aware about the allegations against Home Minister, I have read them in newspapers but I have not talked to him." He further said that the Home...
07:49 PM, Dec 17, 2011
New Delhi: A Delhi-based hotelier at the centre of a controversy involving Home Minister P Chidambaram Friday said he had never met Chidambaram despite engaging him as a lawyer and called the entire matter a "conspiracy" by business rivals. "I have never met him," SP Gupta told a national TV news channel when asked as to when was the last time he had met Chidambaram, who was his lawyer in...
04:06 AM, Dec 17, 2011
Hyderabad: Reminding Prime Minister Manmohan Singh and Congress president Sonia Gandhi of their promise to fight corruption, BJP chief Nitin Gadkari on Friday demanded sacking of Union Home minister P Chidambaram in the wake of 2G spectrum scam and recent allegations about favouring a former client. "Whatever allegations are there against Chidambaram...one thing is clear that Chidambaram is as much responsible as (former telecom minister) A Raja. Besides, the latest...
01:29 AM, Dec 17, 2011
New Delhi: Under fire from the BJP for his alleged role of asking for dilution of cases against hotelier SP Gupta, Home Minister P Chidambaram is getting into damage control mode himself, giving a clear idea of the entire sequence of events. Chidambaram claimed that the first representation from SP Gupta came in July 2004. Home Secretary then sought advice from the Law Ministry. Chidambaram said that in his note...
07:16 PM, Dec 16, 2011
New Delhi: Breaking his silence on the controversy, Home minister P Chidambaram on Friday rejected charges of conflict of interest after a IBN network report showed that the Home Ministry recommended dropping of prosecution against his former client. The Home Minister described the charges as 'most ridiculous'. Chidambaram said he saw the file on request by hotelier SP Gupta to withdraw prosecution only once. He added he had made it...
04:39 PM, Dec 16, 2011
Mumbai: The Reserve Bank of India (RBI) is now focussing more on growth after a long spell of rate hikes to curb inflation. In its mid-quarter monetary policy announced on December 16, the banking regulator has kept its key policy rates unchanged: Cash reserve ratio (CRR) at 6 per cent, repo rate at 8.5 per cent, reverse repo at 7.5 per cent and statutory liquidity ratio (SLR) is at 24...
03:46 PM, Dec 16, 2011
New Delhi: As P Chidambaram came in the line of fire over the withdrawal of three FIRs against a hotelier, former Union Home Secretary GK Pillai on Friday defended him saying the Home Minister had clearly instructed his officials not to take any decision and asked only to convey the Law Ministry's advice. "I clearly remember that the Home Minister had written in the file that the Home Ministry should...
02:12 PM, Dec 16, 2011
Mumbai: The Reserve Bank of India (RBI) left the interest rates unchanged while announcing its credit policy on Friday and indicated that it could also bring down key policy rates in the near future to arrest falling growth while keeping a close watch on inflation. The credit policy left the Repo rate unchanged at 8.5 per cent while the Cash Reserve Ratio (CRR) will remain at 6 per cent. While...
12:17 PM, Dec 16, 2011
New Delhi: The Opposition parties created a ruckus in Parliament for the second day on Friday, demanding Home Minister P Chidambaram's resignation over the conflict of interest controversy. The members of the Bharatiya Janata party (BJP) rushed to the well of the House, demanding Chidambaram's resignation, following which both the Rajya Sabha and the Lok Sabha had to be adjourned till noon and then till Monday. Rajya Sabha MP Chandan...
11:13 AM, Dec 16, 2011
