Indian Economy

Inflation for the week ended April 11 went up from 0.18% to 0.26%

Market analysts want Congress to come back to power for stability

Market analysts want Congress to come back to power for stabilityLondon, Apr. 23: England ‘s cricket selectors are likely to show the door to Warwickshire batsman Ian Bell for the upcoming Test series against the West Indies, though as of now, there is nothing official about it.

Apart from Bell, three contenders are in the running for the number three spot in the England squad – Michael Vaughan of Yorkshire, Ravi Bopara of Essex and Owais Shah of Middlesex, The Independent reports.

ASG promises SC an explanation of Government action within 48 hours

ASG promises SC an explanation of Government action within 48 hours In response to a petition, about black money stashed in foreign banks, filed in the Supreme Court by ex-Law Minister and renowned jurist Ram Jethmalani and five others, the Additional Solicitor General, Gopal Subramanium, has promised an explanation about the measures taken by the government within 48 hours!

Supreme Court to review petition on black money stashed offshore

Supreme CourIn a petition to the Supreme Court (SC), former Union law minister Ram Jethmalani and others have sought directives to the Union government, for the retrieval of unaccounted money to the tune of Rs 70 lakh crore, which is allegedly stashed in foreign banks and financial institutions.

The petition is scheduled for a review by a three-judge bench, headed by Chief Justice K G Balakrishnan, on Wednesday, after senior counsel Anil Diwan, appearing for petitioners, made an spur-of-the-moment request for an early hearing of the case.

IT, BPO sector likely to log $225 billion revenue by 2020; has potential for $150 billion more!

IT, BPO sectorAccording to the "Perspective 2020: Transform Business, Transform India" report by industry association Nasscom and McKinsey, India needs to address some fundamental problems in case it wants its IT and BPO industry to generate an additional $150 billion revenue potential by 2020, over and above the $225 billion revenue the sector is expected to log.

RBI slashes repo and reverse repo rates; banks intend reducing lending and deposit rates

RBIWith the Reserve Bank of India (RBI) having decided on the slashing of short-term lending and borrowing rates - the repo and reverse repo rates - by 25 basis points apiece in its 2009-10 annual monetary policy, banks intend cutting lending rates, thereby making consumer, home, personal and corporate loans cheaper.

While the repo rate has been slashed to 4.75 percent and reverse repo to 3.25 percent, the other key ratios - like the Cash Reserve Ratio and the deposit-percentage that banks keep with the RBI - have remained unchanged.