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Subbarao blames Centre for crisis


Mumbai: RBI governor Dr D. Subbarao on Thursday defended his monetary policy actions on inflation, growth and the rupee and said that to blame his policies would be “inaccurate, unfair, and important

Re breaches 64-level vs USD; down 98 paise in morning trade


Mumbai: Continuing its slide, the rupee on Tuesday breached 64-mark against dollar by falling 98 paise to trade at record low of 64.11 on persistent dollar demand and a weak opening in the domestic e

To say RBI is obsessed with inflation in inaccurate: Subbarao


New Delhi: Days before he steps down as Governor of RBI, a candid D Subbarao today characterised as "inaccurate and unfair" the contention that the central bank was "obsessed with inflation, obliviou

PM for new thinking on RBI’s monetary policy

Prime Minister Manmohan Singh Saturday called for evolving a fresh thinking on RBI’s monetary policy in a globalised economy and dealing with the constraints of its macro economic policies.

Black Friday in markets: Rumours rock shares, rupee

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Mumbai: Dalal Street witnessed its worst carnage in two years on Friday as equities crumpled, while the rupee hit a record new low — slipping below the psychological 62-level to the US dollar — after

Rupee hits record low past 62/dollar as shares plunge

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Mumbai: The rupee dropped to a historic low of 62.00 per dollar in late morning trade on Friday on good demand for the US currency from banks and importers in view of sharp fall in equity market.

Flush with funds, SBI decides not to raise lending rates


Mumbai: In what may come as a relief to borrowers, State Bank of India (SBI) on Thursday said it is not considering an increase in lending rates even though some private lenders have resorted to that

Raghuram Rajan to be Officer on Special Duty at RBI before taking over as Governor

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New Delhi: RBI Governor designate Raghuram Rajan will work as Officer on Special Duty (OSD) in the central bank for three weeks before taking over as head of the institution.
"Dr Raghuram Rajan is ..

RBI to sell Rs 22,000 crore bonds every Monday to check Rupee slide


Mumbai: Faced with a weakening rupee, the Reserve Bank on Thursday announced it will sell government bonds worth Rs 22,000 crore every Monday to check volatility in the forex market.
The measure is a

RBI imposes Rs 5.6 lakh fine on SBI


New Delhi: The Reserve Bank on Wednesday said it imposed a fine of about Rs 5.6 lakh on State Bank of India (SBI) for violation of currency chest norms. "The Reserve Bank of India has imposed a penal

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