Ease interest rates to spur economy: FM to banks

New Delhi, Jun 10: The Finance Minister, Pranab Mukherjee has urged the banks to cut interest rates and provide credit at a 'reasonable' rate in order to stimulate the country's economy and enable inclusive growth."As a financial intermediary the banks have

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Maintaining growth rate key challenge for UPA: RBI

New Delhi, May 26: The biggest challenge before the new ruling coalition is to maintain a strong growth rate, which suffered a set back due to global financial crisis, said Rakesh Mohan, the Reserve Bank of India's deputy governor. He told

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New Rs 20, Rs 1,000 notes soon: RBI

Mumbai, May 18: The Reserve Bank of India (RBI) is all set to issue new currency notes in denominations of Rs 20 and Rs 1,000.Other than change in the inset letter, the design of these notes to be issued now is

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India to project growth below 6 pc in FY10: RBI

Bangalore, May 15: India may expand at a slower pace in the current financial year that began in Apr than initially thought and there are more rate cuts in the pipeline, a survey of 17 forecasters conducted by the central bank

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PNB cuts PLR by 50 bps to 11 pc

New Delhi, Apr 30: Punjab National Bank (PNB), India's second-largest public sector lender on Thursday, Apr 30 cut the benchmark lending rate PLR (Prime Lending Rate) by 50 basis points to 11 pc. This initiative from PNB will benefit thousands of

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India Inflation jumps to 0.57 pc

New Delhi, Apr 30: India's inflation for the week ended Apr 18 jumped to 0.57 pc as against 0.26 pc in the previous week. The index for the primary articles rose 1.7 per cent and the manufactured products index was up

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ICICI Bank cuts floating rates by 50 bps

New Delhi, Apr 21: After the Reserve Bank of India (RBI) announced cut in the key rates, the ICICI Bank has reduced floating reference rates by 50 bps to 13.25 pc. All the floating rate customers of the bank would benefit

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Monetisation is not a benign solution: Subbarao

Mumbai, Apr 7: Reserve Bank of India (RBI) Governor Duvvuri Subbarao has said that there was a long-term cost to monetising the budget deficit that needed to be considered despite the apparent short-term benefits of not tapping the market for funding.Subbarao

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India's private banks lower lending rates

Mumbai, Apr 3: Keeping in view the repeated monetary measure introduced by the Reserve Bank of India's private sector banks are lowering their benchmark rates. India's third-largest private sector lender and Bank of Rajasthan, an old generation lender on Friday, Apr

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Withdraw cash from any ATM for free from Apr 1

New Delhi, Mar 29: Giving relief to common man, banks in India from Apr 1 will not charge extra for cash withdrawals using ATM and debit cards issued by other banks. Thanks to an RBI! But banks can charge a fee

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