Mumbai: The Indian central bank (RBI) has annihilated the anticipations of interest rates alleviation by raising CRR, the sum of money banks must hold in cash, by 0.5 percent (now 7.5%) to drain liquidity regardless of inflation at a five-year low.
But the RBI do not make any changes in the key lending and borrowing rates (repo and reverse repo) and bank rate in the mid-term appraisal of the monetary plan.
Cash Reserve Ratio (CRR) is the amount of cash that is demanded by the banks to park with RBI that does not pay up any interest on such depositions.

London: Life is a precious gift. Live happily, and relish every moment of it.

Scientists at the University of Nottingham have discovered that it’s the simple things in life, which impact optimistically on one’s pleasure sense.

Lead researcher, Dr. Richard Tunney, of the university`s school of psychology told that cheerful people liked the free and simple treats, whereas those who identified themselves as more distressed or restless picked out CDs, DVDs and meals out.

The Taoiseach is defending the contact he made with an AIB official to inquire about transactions under investigation by the Mahon Tribunal.

Jim McNamara told the tribunal that Bertie Ahern contacted him this year to ask about particular lodgements being investigated by inquiry, told Jim McNamara to tribunal.

Mr. Ahern was marveling what conclusive evidence the bank had that three specific lodgements made in the 1990s were foreign exchange transactions.

Mr. McNamara accepted that it was a very unusual request from the Taoiseach.

The shares in cement firms dropped precipitously on Wednesday, after the government’s trashing some duties to help imports and rein in domestic prices.