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rbi-holds-interest-rates-steady-says-tracking-inflation-and-government-action

RBI holds interest rates steady, says tracking inflation and government action

Mumbai, Feb 03 (ANI): Reserve Bank of India on Tuesday held interest rates steady while boosting banks' liquidity in a bid to persuade them to lower lending rates after they failed to pass on the benefits of the last official rate cut three weeks ago. The RBI kept its policy repo rate unchanged at 7.75 percent, as expected by analysts, leaving its next reduction probably until after the government presents its annual budget at the end of this month. Instead, to prod banks to lend more and lower their lending rates, the RBI cut the statutory liquidity ratio (SLR) - the minimum portion of net deposits that banks must hold in government bonds, cash or gold - by 50 basis points to 21.5 percent from February. 7. The RBI also announced a slew of initiatives to develop markets, including allowing foreign institutional investors to re-invest government bond coupons even when their investment limits were exhausted. The RBI described the domestic economy as "subdued", regardless of the government revision of gross domestic product data, using a new formula which showed the economy grew 6.9 percent in 2013/14, instead of 4.7 percent. Feb 3, 2015
avam-threatens-to-stage-protest-from-feb-05-says-aap-doesnt-believe-in-freedom-of-expression

AVAM threatens to stage protest from Feb 05, says AAP doesn't believe in freedom of expression

New Delhi, Feb 03 (ANI): AAP Volunteer Action Manch (AVAM) on Tuesday while addressing a press conference stated that it would file a complaint against AAP with Election Commission, Enforcement Directorate and Reserve Bank of India. AVAM also accused political outfit of disrespecting Right to Freedom of Expression and especially denying the Right to Freedom of Expression to its volunteers and ex-volunteers. AVAM added that it has also decided to stage a protest against AAP from February 05. Earlier, AVAM had alleged a massive scam in the funding of AAP, which was later rejected by Kejriwal-led AAP party which stated that all transactions were legitimate. Feb 3, 2015
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