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Reeling under the liquidity pressure, the mutual fund industry could see more bailout deals — similar to the takeover of Lotus India Asset Management — in the coming days, say industry experts. “One or two more such kind of transactions may be seen in days ahead but that will mainly be for bailing out some [...]
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The Reserve Bank of India (RBI) on Saturday unexpectedly cut its main short-term lending rate for the second time in as many weeks to ease a growing cash squeeze, spur faltering economic growth and fend off damage from the global financial crisis. Analysts said the surprise RBI move, coming just a week after it left [...]
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The Reserve Bank of India has decided to reduce the repo rate under the Liquidity Adjustment Facility by 100 basis points to 8.0 per cent with immediate effect. The global financial situation continues to be uncertain and unsettled. Even as countries directly affected by the turmoil have taken aggressive action to manage the crisis, confidence [...]
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Close on the heels of major liquidity infusions by central banks around the world, the Reserve Bank of India, on Wednesday, has decided to provide Rs 25,000 crores for lending to financial institutions. Out of this Rs 7,500 crores will be provided to commercial banks and Rs 17,500 crores to Nabard. Announcing the move, Finance [...]
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The Reserve Bank of India (RBI) today announced a 25 basis points hike in the cash reserve ratio (CRR) and a 50 basis points hike in the repo rate, both rates will be up to 9%. The rate hikes were announced in the First Quarter Review of Annual Statement on Monetary Policy for FY09 presented [...]
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