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India Adopts Austerity Plan; Analysts Say Measures Won't Impact Unproductive Expenditures

Prompted by the growing fiscal deficit, the Indian government on Thursday announced several austerity measures in an attempt to curtail unproductive expenditures for the current fiscal.

Jun 1, 2012

Mumbai MHADA 2012 Lottery Results Out; Over 11K Application Forms Rejected

In a bizarre first of its kind move, the Maharashtra Housing and Area Development Authority (MHADA) has rejected 11,179 application forms for 2,593 flats which are supposed to be sold today by lottery.

May 31, 2012

I-T Dept Freezes Kingfisher Airlines' Accounts For Non-Payment of Dues

The I-T department has reportedly slapped the KFA with a notice to pay the outstanding dues of Rs 3.42 billion (342 crore rupees), after the airline failed to pay installments of Rs 90 million (9 crore rupees) each week

May 30, 2012

Morgan Stanley Downgrades India's Telecom Sector; Reliance Communications, Idea Shares Fall

India's telecom industry suffered a blow on Tuesday, with Global firm Morgan Stanley downgrading its outlook on two of the nations' telecom companies.

May 29, 2012

Moody's Positive on India's Ratings Despite Depreciating Rupee

Rating agency Moody's has said that India's sovereign ratings will remain intact despite the depreciating rupee.

May 28, 2012

Goldman Sachs, Bank of America Downgrade India's Growth Outlook

India's growth story comes crashing with Goldman Sachs and Bank of America-Merrill Lynch being the latest global firms to downgrade economic forecasts for the country on Friday.

May 25, 2012

Rupee Plunges To New Low Of 55.87/$ Amid RBI Intervention

The rupee plunged to a new low of 55.87 in the early Wednesday trade, marking its sixth consecutive record low against the US dollar.

May 23, 2012

BSE Sensex Up, Rupee Hits Record Low

The BSE Sensex posts its third consecutive daily gain on Monday after State Bank of India boosted the outlook of the stock market with its impressive earning last week. However, rupee hits a new record low at 55 per dollar, which could affect the stocks.

May 21, 2012

Rupee Tumbles Short of 'Psychological 55' at Record Low of 54.99 to Dollar

Indian currency took another beating on Monday, sinking to a record low of 54.99 against the US dollar in the late afternoon trade session. The rupee stood at 54.96/97 to the dollar at 4:26 p.m. (1056 GMT), and had earlier plunged to the key psychological level of 55 to the dollar, Reuters said.

May 21, 2012

Rupee Could Slide To 60 Against Dollar, Says Citigroup: Report

The Citigroup has reportedly said the Indian rupee may dive south further to touch 60 against the US dollar.

May 18, 2012

Rupee Sinks To Record Low; India's Finance Minister Pranab Mukherjee Says Austerity Needed

The rupee on Wednesday closed at a record low of 54.49 against the U.S. dollar, prompting calls for quick government measures to curb volatility.

May 16, 2012

BSE Sensex Falls Again; S&P Rating Affects Indian Stocks

The BSE Sensex fell for a second session in a row on Thursday, as the investors get cautious after the rating agency Standard & Poor's cut India's outlook to negative from stable on Wednesday.

Apr 26, 2012

Pranab Mukherjee Clears Foreign Investors' Concerns Over India's Tax Amendments

Finance Minister Pranab Mukherjee addressing a gathering in Washington on Friday termed concerns of US investors over tax amendments in India as "unfounded".

Apr 21, 2012

India's economy Expected to Recover; More Repo Rate Cut Possible

Just on the heels of the Reserve Bank of India (RBI) cutting interest rates for the first time in three years by 50 basis points to boost economic growth, a poll conducted by Reuters expected India's economy to pick up this year. There is also possibility of RBI resorting to more cut in repo rate.

Apr 19, 2012

RBI Cuts Repo Rate by 50 bps, CRR Unchanged; What Experts Have to Say on Policy Move!

The Reserve Bank of India (RBI) threw up a big surprise with its annual Monetary Policy for 2012-13 on Tuesday by cutting interest rates for the first time in three years by a sharp 50 basis points. The move of the RBI was to boost the economic growth.

Apr 17, 2012

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