Tuesday, April 21, 2009

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Reserve Bank of India reduces its intrest rates

Indian Reserve Bank of India cut its lending rate by 25 basis points i.e. 0.25%
repo rate has been cut to 4.75 per cent from the existing 5 per
cent while the reverse repo has been cut to 3.25 per cent from the existing 3.5 per cent.RBI cuts interest rates by 25 bps LINK

Other headlines
RBI on a shopping spree for oil bonds

RBI to upgrade regulations to deal with menace of tax havens

A recent study indicates people from Indian Subcontinent have stashed more than 150billion $ in overseas places like, lichenstein, Mauritius, Switzerland etc .... U.S has started a crack down lets c what Indian regulators do about it

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