Privates and foreign banks are likely to cut interest rates in the coming days. Public sector banks have already decided to reduce interest rates following decrease in key interest rates by the Reserve Bank of India. Personal and commercial loans would be available at lower rates after cutting lending rates by public and private banks. It is to be noted that reserve bank is taking many steps to inject more liquidity in the market. Recently, it has cut cash reserve ratio, SLR and Repo rate leading to injection of more than Rs 2,60,000 crore into the system.

Toyota Motor Corporation (TMC) considers India as a potential market for its new models. It would double its investment in the country in the coming times. TMC has decided to invest Rs 3,200 crore in India. The company has decided to set up a new manufacturing plant at Banglore. It would make the Toyota Kirloskar Motor Private Limited (TKM) site more efficient by increasing its production capacity.

Software giant Microsoft, joined by rivals Google and Yahoo, has launched a local mapping service for India, which offers users access to detailed listings and street maps for 9 Cities, business listings across 29 cities, and access to highway networks to 20,000 cities and towns.

Microsoft's India Development Centre (MSIDC) in Hyderabad has developed the first version of the service, on the PC and mobile at http://maps.live.co.in and http://m.live.co.in.

The Indian software industry body, NASSCOM, hailed Barack Obama's historic win in the US elections, hoping that the President-elect would find new ways to partner and boost economies of the two nations in the wake of the global economic meltdown.

The German celebrity and the supermodel, Heidi Klum has invited the displeasure of the Hindu leaders in America by dressing up as Hindu goddess Kali for a Halloween party. Her husband, singer Seal, dressed up as Indian mythical character, Angulimaal, at the party thrown in New York by Klum herself, and attended by many celebrities.