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With a view to rein in high inflation, the Reserve Bank of India Tuesday raised its key short-term lending and borrowing rates by 0.25 per cent each with immediate effect. The short-term lending (repo) rate has been hiked to 6.50 per cent and the borrowing (reverse repo) to 5.50 per cent, a move that will [...]
With the prices of essential commodities reaching worrying levels, Prime Minister Manmohan Singh tuesday held a high level meeting to find ways to tackle inflation, particularly of food items. The meeting was attended, among others, by Finance Minister Pranab Mukherjee, Home Minister P Chidambaram, Food and Agriculture Minister Sharad Pawar and Planning Commission Deputy Chairman [...]
New Delhi, Nov 19 Admitting irregularities in non-basmati rice exports to some African countries during UPA-I tenure, government today said it has referred the matter to the CVC after slapping showcause notices on officials of PSUs, involved in the transactions. The action follows an internal enquiry by Department of Commerce which found that “the exporting [...]
Business leaders accompanying US President Barack Obama on his visit in New Delhi feel India has the potential to become America’s largest trading partner. “India is the United States’ 12th largest trading partner. It could be number one or two if the conditions for trade between these two giant economies continue to improve,” said The [...]
The Indian rupee declined by 11 paise to 44.32 against the US dollar in early trade at the forex market on Monday, with the American currency overcoming recent weakness to post gains against other major currencies The rupee had ended 14 paise higher at Rs 44.21/22 per dollar in the previous session at the Interbank [...]
The BSE benchmark Sensex slumped to below the psychological 21,000 points mark in early trade today as profit-booking wiped out initial gains and left the benchmark index over 137 points in the red. The Sensex, which opened 71 points higher today, fell by 137.17 points, or 0.48 per cent, to 20,867.79 within the first 45 [...]
The rupee today strengthened by 6 paise to trade at a two-week high of Rs 44.29 against the US currency in early trade tracking dollar’s weakness against other major currencies. Strong capital inflows into equities by foreign funds also supported the rupee. Dealers said dollar’s losses against other major currencies kept the rupee sentiment firm. [...]
Led by a rally in metal and oil & gas stocks, the Bombay Stock Exchange benchmark Sensex climbed nearly 188 points in early trade today on heavy capital inflows by foreign funds and firm Asian markets. The 30-share index rose by 187.90 points, or 0.91 per cent, to 20,653.64 points with all sectoral indices trading [...]
New Delhi, Nov 3 (PTI) Silver coins zoomed to record high levels of Rs 43,000 per 100 pieces in the national capital today, as demand shifted to silver amid high gold prices and weak global trend. Heavy buying for the festival of Dhanterus today and upcoming Diwali, also led to the rise in the silver [...]