Friday, July 3, 2015   

India keeps rates steady in first decision under Modi
(06-03 15:18)

India's central bank kept key interest rates unchanged Tuesday in its first monetary policy announcement since new pro-growth Prime Minister Narendra Modi took office.
Amid speculation the Reserve Bank of India's (RBI) stern stand on inflation could clash with Modi's aim of reviving the economy, the bank's chief Raghuram Rajan appeared to soften his hawkish tone.
After meeting in financial capital Mumbai, the RBI said the benchmark repo rate, at which it lends to commercial banks, would remain unchanged at 8.0 percent and the cash reserve ratio would be kept at 4.0 percent.
Modi's decisive election result, together with "improved sentiment'' should create a sound environment for new policy steps and demand revival as well as gradual growth recovery, Rajan said. --AFP   
Other Business breaking news:
US stocks open higher (07-02 21:45)
BBC sheds layers and cuts 1,000 jobs amid funding shortfall (07-02 21:36)
Spain predicts 3.3 percent growth (07-02 21:07)
223,000 join US work force in June (07-02 21:05)
(Greece crisis) Business groups oppose baffling referendum (07-02 21:00)
(Greece crisis) Harried pensioners try to get by (07-02 20:46)
(Greece crisis) Turbulent days ahead in the battle to tick the right boxes (07-02 20:40)
(Greece crisis) Varoufakis promises to quit if voters accept debt deal (07-02 17:54)
(Greece crisis) Spillover effects pose risk to global bond markets (07-02 17:22)
Analyst predicts further falls on day China stocks swing to another loss in volatile trade (07-02 17:07)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.