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State Bank of India expects RBI to Tighten Money
By arunr at 27 July, 2008, 9:00 pm
State Bank of India Chairman O P Bhatt today said he expects moderate monetary tightening in Reserve Bank of India’s quarterly review due next Tuesday. He indicated that the central bank could raise the cash reserve ratio, or the proportion of deposits that banks kept with RBI, by 25 basis points. [...]
Read More >>Prime Minister Singh Survives Vote, Lays Policy Agenda
By arunr at 27 July, 2008, 7:49 pm
Prime Minister Manmohan Singh and his Congress Party coalition survived a no confidence vote, getting a needed political boost ahead of a general election and the backing to secure a nuclear deal with the U.S. The government’s victory, by a 275-256 margin with 10 abstentions, was wider than many had [...]
Read More >>Rating Agency Fitch Lowers India to BBB-, Almost Junk Bond Rating
By arunr at 16 July, 2008, 8:46 pm
New Delhi — The sovereign debt of India is almost at junk bond levels. Fitch Ratings downgraded India’s local-currency debt outlook to negative from stable, while maintaining a BBB- grade, the lowest investment grade, one step above speculative — or junk — status. The move came close on the [...]
Read More >>Costs double for container terminal in Kolkata
By arunr at 14 July, 2008, 11:12 pm
Kolkota, West Bengal — The estimated costs of the new proposed container terminal in Kolkata has doubled in the last year.
The estimated construction cost of the proposed container terminal at Diamond Harbour dock on the river Hoogly, 40km downstream from Kolkata, has more than doubled from Rs. 500 crore to Rs 1233 crore. This will [...]
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