RBI to take all measures to defend rupee: Subir Gokaran

The Reserve Bank says, it will take all measures to defend rupee if situation warrants. RBI Deputy Governor Subir Gokarn told a CII event that selective intervention of the bank in recent days should not be misconstrued as its inability to deal with the challenge. He said RBI has the instruments and...

Shipping Corporation of India to acquire 25 more vessels

Shipping Corporation of India is to step up its capacity by acquiring 25 more vessels. Orders have been placed to acquire the vessels. According to official sources, the capacity of the corporation will increase to 7.12 million tonnes from the existing 5.81 million tonnes with the induction of new v...

Anand Sharma meets farmers on retail FDI

Commerce and Industry Minister Anand Sharma has accused BJP of U-turn over its stand on FDI in retail. He said the government will place before Parliament records showing which of the states have supported opening of the sector to foreign investment. Talking to reporters after meeting a farmers&...

Anand Sharma meets farmers on retail FDI

Commerce and Industry Minister Anand Sharma met the representatives of the farmers associations in New Delhi today to discuss the opening up of Foreign Direct Investment in retail sector. The Minister held a meeting with representatives of various trade organisations over the issue yesterday. Accord...

No payment by cheques: RBI to cooperative banks

The Reserve Bank of India today directed primary urban cooperative banks not to make payments on cheques, and other financial instruments, that are over three months old, with effect from April next year. The directive comes a few weeks after the RBI issued similar directions to scheduled commercial...

No stimulus to industries to arrest moderating growth: Montek

Planning Commission Deputy Chairman Montek Singh Ahluwalia today said that there is no case for providing stimulus to the industry to arrest moderating growth. Speaking at a function in New Delhi, he also said that the fiscal deficit is likely to be above the Budget Estimate of 4.6 per cent of GDP. ...

Crude oil futures rises back

RBI directs cooperative banks not to make payments on cheque

The Reserve Bank of India today directed primary urban cooperative banks not to make payments on cheques, and other financial instruments, that are over three months old, with effect from April next year. The directive comes a few weeks after the RBI issued similar directions to scheduled commercial...

RBI constantly monitoring liquidity situation in system: H.R. Khan

Deputy Governor of the Reserve Bank of India H. R. Khan today said that the apex bank is constantly monitoring the liquidity situation in the system, and has been buying back government bonds to ease tight money supply. Liquidity is said to be around 1.2 trillion rupees -- which is more than the com...

Asian market ends week on mixed note

Key Asian markets ended on a mixed note, today, a day after posting their biggest single-day rise in more than two months, as investors cashed in some gains ahead of next week's key European summit on the euro-zone debt crisis. So Japan's Nikkei 225 index rose 0.5%; Hong Kong&a...