BANKING / Bank rates untouched; Reverse repo and repo rates unchanged
RBI ups CRR to keep liquidity under leash Emboldended with having kept inflation under check,
the Reserve Bank of India (RBI), on Tuesday, caught the banking sector off-guard by increasing the Cash Reserve Ratio (CRR) by 50 basis points to 7.0 per cent with effect from the fortnight beginning August 4, 2007...
Bankers cry foul; say will hit margins Consumers may not have got any respite from high interest rates. For, any hopes of interest rates softening in near-term have dissipated with 0.5 per cent hike in Cash Reserve Ratio bankers said.
India, China lead global growth, says IMF chief China and India are the new engines of world economic growth, replacing the United States and other developed countries, International Monetary Fund (IMF) Managing Director, Rodrigo Rato said here, on Tuesday...
Iranian women sit on a carpet worth 5.8 million dollars which stretches 5,625 square meters during its unveiling ceremony in Imam Khomeini mosque at Tehran on Tuesday.The carpet, biggest in the world in prominent green and cream was made using 38 tonnes of wool and cotton by 1,200 weavers in 18 months in three villages in Iran,Jalaleddin Bassam the head of Iran's carpet company, said. It is to be spread in the mosque of late United Arab Emirates president and founder Sheikh Zayed bin Sultan al-Nahayan in Abu Dhabi . AFP
The government has taken a decision to ban smoking in work places, and also in homes if the maids object. Is it possible to implement the ban?
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