Price Pressures Already Included In Monetary Plan, Says Reddy

After the inflation rate moved up to a nine-month high to 5.11%, RBI YV Reddygovernor YV Reddy stated that India’s monetary plan has already included the rising food and fuel prices.

According to the data, the annual wholesale price inflation rate touched 5.11% in the week ended March 1, and the prices have gone up by 5.01% during the last week.

It is projected that inflation will go up in the coming weeks. Mr. Reddy had recently expressed his worry over increasing food and energy prices.

The central bank wishes to keep inflation around 5% during the 2007/08 fiscal year ending March 31.

Inflation rises to over nine-month high at 5.11 per cent

Reserve Bank of IndiaNew Delhi, Mar 14: Inflation rose to over nine-month high at 5.11 per cent for the week ended March 1, due to rise in prices of some manufactured items and aviation turbine fuel, dashing all hopes of interest rate cuts by the RBI to boost the sagging industrial production.

The wholesale price index-based inflation rate stood at 5.02 per cent in the previous week and 6.51 per cent in the correspondingly week a year earlier.

This is the second week in a row that the inflation rate crossed the five per cent mark, the target set by the reserve bank for this fiscal.

ATM Use Will Become Free From April 2009, Says RBI

By April 2009, the customers will be capable of withdrawing money from ATM without paying any ATM Use Will Become Free From April 2009charge.

The Reserve Bank of India has directed the commercial banks to let customers’ free use of Automated Teller Machines (ATMs) for all transactions from 1 April 2009.

According to an RBI announcement, the customers can also use ATMs of other banks for balance enquiries free of cost.

The RBI has also asked banks to put a limit on the fees charged for using ATMs of other banks to Rs 20 for each transaction from March 31, 2008, and eradicate the same from April 2009.

Fujitsu Rolls Out ‘The LifeBook U1010’ In Indian Market

Fujitsu has rolled out a 3.5G-enabled mobile companion, named ‘The LifeBook U1010’ in the Indian market, which it claimed to be the world’s smallest tablet-convertible ultra mobile PC (UMPC).
It offers users a first-class combination of function, superiority, method and infinite connection. It weighs just 630 grams.
Powered by Intel processor A110 with 800MHz of processing power, the U1010 consists of newly designed 0.2 mm aluminum plated QWERTY keyboard and sports a 5.6-inch SuperFine WSVGA display that is a Passive Touch Panel with 1024×600 pixels resolution. The U1010 has dimensions of 171mm (w) x 133mm (d) x 26.5-32.0mm (h). Besides, it has a palm resistance touch screen that permits the fingers to do the work, without a stylus.

Deep Sleep Necessary To Keep Diabetes At Bay

Deep SleepChicago: Diabetes risk increases with lack of sleep, according a new study.

US researchers said that deep, restful sleep is good for keeping Type 2 diabetes at bay.    

In study findings, the researchers observed that slim, healthy young adults who do not experience the deepest stage of sleep known as slow-wave sleep developed insulin resistance- linked to Type 2 diabetes just after three nights.

Eve Van Cauter, a professor of medicine at the University of Chicago, said, “It demonstrates the importance of deep sleep not only for the brain, but for the rest of the body.”

RBI plans to permit FIIs to short sell, lend and borrow equity shares from 1st Feb, 08

RBIThe Reserve Bank of India (RBI) plans to permit Foreign Institutional Investors (FIIs) registered with market regulator SEBI and sub-accounts of FIIs to short sell, lend and borrow equity shares of India companies from February 1, 2008.

However, the entire FII short selling, lending and borrowing mechanism will be subject to the current FDI policy, which allows FDI ranging from 26% to 100% across different sectors.

RBI said in a notification on its web site that the short selling of equity shares by FIIs shall not be permitted for equity shares that are in the ban list and /or caution list of Central Bank.