Category Archives: Finance
RBI Hikes Repo and Reverse Repo Rates
Today Reserve Bank of India in its mid-quarter review raised its main lending rate (repo) by 0.25 percentage and its borrowing rate (reverse repo) by 0.50 percentage point as it continues with the monetary tightening measures to cool inflation. Home, … Continue reading
SBI considering merger of associate banks
India’s largest public sector bank State Bank of India is considering all options to merge its five associate banks – State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State … Continue reading
Indian Rupee at 1 month low
Indian Rupee on Tuesday crossed the 47 mark at the foreign exchange market due to the plunge in the global stock markets and strengthening of the US dollar. Yesterday Rupee was closed at 46.91/92. Sensex and Nifty also in the … Continue reading
Reliance Industries enters Hospitality Sector via EIH
Mukesh Ambani controlled India’s leading company Reliance Industries Limited (RIL) entered hospitality sector by purchasing 14.1% share in hotel group EIH for 217.5 million US dollars. EIH, which runs the luxury Oberoi and Trident chain of hotels is a the … Continue reading
US Stocks Drop after plunge in July Home Sales
US Stocks declined again on Tuesday after a disappointing report from Housing Sector. The National Association of Realtors said sales of previously occupied homes plunged in July to an annual rate of 3.83 million against economists estimate of 4.7 million, … Continue reading
CRR Rate, Repo Rate, Reverse Repo Rate
New RBI Rates : CRR Rate, Repo Rate, Reverse Repo Rate : The RBI on 20th Apr 2010 hiked short-term lending and borrowing rates and the portion of money banks deposit with it CRR Rate, Repo Rate, Reverse Repo Rate … Continue reading