The government is taking various steps to ease the liquidity situation in the country. Now, the Reserve Bank of India (RBI) cuts rapo rates after successive cuts in the cash reserve ratio (CRR). The apex bank slashed rapo rates by 100 basis points. This is the step against the tight monetary policy adopted by the central bank. It is the first ever reduction in the rapo rates after March 2004. Rapo rates now stands at 8 percent.
The banks also started to slash the interest rates for consumers after revision of rapo rates. The fifth-largest state-owned bank, Union Bank of India reduced interest rates on home loan by 50 basis points up to a loan Rs 30 lakh.
The increasing problems for the Indian Carriers due to rising expenses, especially the rise in aviation fuel recently initiated an unwanted episode of firing of employees.
Following this, the owner of Kingfisher, Vijay Mallya approached the Parliament and Naresh Goyal of Jet Airways knocked the door of finance minister P Chidambaram with the aim to get tax relief for airlines.
“Job cuts and layoffs coupled with high aviation turbine fuel (ATF) prices and larger taxes can affect in the number of flights which is likely to go down,” reported Mallya.
Minister of Communications and Information-Technology, A Raja has indicated that the much waited auction of third generation (3G) spectrum could be delayed by 10-15 days.
The auction, which was initially planned to be held in December this year, has now been deferred to be conducted on January 2009.
Speaking on this, Mr. Raja said, “We will try to complete it by December 31. However, because of Christmas and holidays, we could postpone it for another ten days. However the deadline is December 31, subject to a little changes.”
Indian equities continued to trade in the negative terrain on fears over lower earnings.
The 30-share index BSE Sensex ended on a highly negative note yesterday with some major corporate houses declaring disappointing quarterly figures.
Asian markets weighed the depressing outlook. Realty, metal, IT, oil & gas and power stocks that had bounced back fairly strongly yesterday after recent huge losses, are back in the red again on account of heavy selling action.
BSE Midcap and Smallcap declined 2.02% and 1.59% respectively.
The young able director Rohit Shetty is all set for the release of his upcoming film "Golmaal returns," a comedy movie, the sequel to "Golmaal". 
The increasing problems for the Indian Carriers due to rising expenses, especially the rise in aviation fuel recently initiated an unwanted episode of firing of employees. 
On Monday, Nvidia unveiled two motherboard graphics processors that included the desktop version of the integrated GPU in the latest Apple MacBooks. 
Minister of Communications and Information-Technology, A Raja has indicated that the much waited auction of third generation (3G) spectrum could be delayed by 10-15 days. 
Indian equities continued to trade in the negative terrain on fears over lower earnings.
