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: Softening headline inflation alone will no longer be enough to spur the Reserve Bank of India to cut interest rates at a time when it faces other pressing challenges such as a record low rupee and the risk of potentially destabilising capital outflows. The RBI is due to review monetary policy on Monday, facing the same strains erupting across much of Asia as financial markets are looking shaky even...
09:01 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
Ahmedabad: Sam Pitroda, adviser to Prime Minister on Public Information Infrastructure and Innovations, on Saturday expressed confidence that the country will regain the growth rate of 8 per cent soon. "The Union Government is doing its job. For the last ten years, we have been continuously clocking 8 per cent growth. Though it has gone down this year, we'll be able to catch up as soon as possible and achieve...
08:36 PM, Jun 15, 2013
Srinagar: Moderate Hurriyat Conference chairman Mirwaiz Umar Farooq on Friday said it was highly regrettable that the Srinagar-Muzaffrabad bus service between divided parts of Jammu and Kashmir has been reduced to a mere tool for political propaganda. "Hurriyat had welcomed the bus service believing that it would provide relief to the divided families and people of Kashmir. It has proved to be otherwise and government has just used it for...
03:56 AM, Jun 15, 2013
The Supreme Court will hear a PIL on Tuesday seeking a ban on Ranbaxy drugs. The petitioner cited the pharma giant's case in the US where Ranbaxy USA admitted to selling substandard and adulterated drugs. The pharma giant has been asked to pay a fine of 500 million dollars. Ranbaxy has been facing the heat even in India with a few hospitals banning its drugs. Pharmaceutical industry expert Vikas Dandekar...
04:57 PM, Jun 11, 2013
Mumbai: Shabana Azmi is the most academically qualified actress in India by far and now the veteran actress is all set to receive another doctorate, this time from the Simon Fraser University in Vancouver Wednesday. This would be the 'Masoom' actress's fourth honorary degree. Earlier, she has received the same honour from Leeds University in Britain, the Jamia Millia Islamia and the Jadavpur University. "It's good to be honoured in...
02:35 PM, Jun 11, 2013
Los Angeles: Actor Johnny Depp visited a children's hospital unannounced dressed in his famous character Captain Jack Sparrow. According to franchise producer Jerry Bruckheimer, the actor regularly travels with his famous costume from the fantasy adventure film series 'Pirates of the Caribbean', so that he can surprise ailing kids, reports femalefirst.co.uk. Bruckheimer said: "He knows he is a very fortunate person and he wants to give back." The 50-year-old actor...
11:56 AM, Jun 11, 2013
New Delhi: The Supreme Court will hear a PIL on Tuesday seeking a ban on Ranbaxy drugs. The petitioner cited the pharma giant's case in the US - where Ranbaxy USA admitted to selling substandard and adulterated drugs. The pharma giant was asked to pay a fine of 500 million dollars. Ranbaxy has been facing the heat off late - with a few hospitals banning its drugs. The PIL has...
08:49 AM, Jun 11, 2013
Mumbai: Apollo Pharmacy started selling Ranbaxy drugs at its stores again on Monday after the company recertified its stocks. Apollo Pharmacy had on Friday issued a cautionary advisory against Ranbaxy drugs and had temporarily suspended their sale. Earlier, Mumbai's Jaslok Hospital had also stopped the use of Ranbaxy drugs. "Our medical committee, which is a very strong committee within Apollo, has reviewed the matter and recommended, as a cautionary measure,...
01:06 PM, Jun 10, 2013
Kolkata: A Kuala Lumpur-bound Emirates aircraft with 144 passengers on board on Sunday landed in emergency conditions in Kolkata after it was forced to return about an hour after take off due to suspected engine problem. The aircraft landed safely at NSC Bose International Airport, airport sources said. The flight took off at 5:45 pm for Kuala Lumpur. After one hour of take off, the flight returned and asked for...
11:23 PM, Jun 09, 2013
New Delhi: Drug regulator DGCI is conducting a "focussed scrutiny" of medicines sold by Ranbaxy and some other drugmakers, but says it remains confident of the quality standards of Indian medicines despite concerns raised by US authorities over some of Ranbaxy's products. While the company continues to assert that its drugs meet all regulatory standards, a few hospitals and pharmacies have adopted a cautious stand on use of its products....
12:51 PM, Jun 09, 2013
Birmingham: Australian cricket captain George Bailey was fined 20 percent of his match fee, while his team-mates were docked 10 percent of their earnings for maintaining a slow over-rate during their ICC Champions Trophy opener against England on Saturday. "The Australia team has been fined for maintaining a slow over-rate during its Group A match in the ICC Champions Trophy 2013 against England at Edgbaston on Saturday," the ICC said...
11:25 AM, Jun 09, 2013
New Delhi: As the growth trends firm up in job market, India is set to witness highest attrition rate globally with possibility of one in four employees switching jobs in the country, a survey said on Friday. The survey conducted by global human resource and management consultancy major Hay Group also said that the concerns among the Indian employees about fairness of their compensation and career objectives could be the...
07:18 PM, Jun 08, 2013
London: Superstar Johnny Depp has revealed that he did his own tattoos by using a knife. The 49-year-old actor has at least 15 tattoos including three squares and the digit 3 scratched on his hands, reported Sun online. "My skin is a journal, every tattoo means something. Whether you do it yourself with a knife or you get it done by a professional, that doesn't change its meaning," he said....
11:46 AM, Jun 08, 2013
Jaipur: Pitching for cut in policy rates, country's largest bank SBI on Friday said the Reserve Bank should now focus on growth as inflation has eased. "In my opinion, this is the time to focus on growth because a lot of ... has been done for inflation control and the level of inflation is not that high now," State Bank of India Chairman Pratip Chaudhuri told reporters in Jaipur. RBI...
02:23 AM, Jun 08, 2013
Mumbai: Apollo Pharmacy on Friday issued a cautionary advisory against Ranbaxy drugs and temporarily suspended their sale. Earlier, Mumbai's Jaslok Hospital had stopped the use of Ranbaxy drugs. "Our medical committee, which is a very strong committee within Apollo, has reviewed the matter and recommended, as a cautionary measure, we should temporarily suspend sale of Ranbaxy medicines, as we cannot take a chance with patients' safety. So, we have immediately...
04:57 PM, Jun 07, 2013
