indo-pak-cross-border-trade-remains-suspended

Indo-Pak cross border trade remains suspended

Poonch, Feb 12 (ANI): Cross border trade between India and Pakistan remained suspended since last month after the arrest of a Pakistani truck driver in connection with the smuggling of brown sugar. The custodian, Chakan Da Bagh, Bashir Ahmed Loan, said that the decision of Indian and Pakistan governments on the trade standoff was keenly awaited. Efforts by India and Pakistan to increase trade and ease tension in disputed Kashmir suffered a blow when Indian police claimed they seized more than 100 kg (220 lb) of heroin concealed in a truck full of nuts coming from the Pakistan side. Feb 12, 2014
indian-banks-to-wait-before-hiking-loan-rates-post-rbis-tightening

Indian banks to wait before hiking loan rates post RBIs tightening

Mumbai, Jan 29 (ANI): Top Indian bankers said that they would wait to observe inflation and market trends further, before increasing the interest rates of loans to citizens for balancing funds due to the sudden hike in repo rate by the RBI. Reserve Bank of India (RBI), surprisingly raised interest rates for lending money to commercial banks on Tuesday to dampen inflation, saying it was now better prepared to deal with the risk of major capital outflows roiling emerging economies. The RBI, however, said that if retail inflation eases as projected, it does not foresee further near-term monetary policy tightening. The hike in repo rate could have a direct impact on the lending rates of funds borrowed by the citizens from the commercial banks. Meanwhile, chief of Indian Banks’ Association, K.R. Kamath, said that banks would have to take a final call on the interest rates only after considering the burden on customers due to inflation. Jan 29, 2014