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Govt to boost hiring of agri machinery in 12th Plan
The government has decided on a comprehensive push for mechanisation of agriculture, by setting up machinery hiring centres in every village in the 12th Plan period. These machinery is to be leased for harvest with support from states and the Centre (in either a 10:90 or 20:80 proportion). The entire mission is expected to get an outlay of Rs 20,000-25,000 crore, sources said. According to senior official

Bank deposits, advances fall through April

Bank deposits and advances fell through April, after rising sharply towards the end of the previous financial year. The growth in deposits over the year was 13.3 per cent while loans grew 17.6 per

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Bank deposits, loan growth fall after year-end rush
The sharp year-end increase in deposits and advances of scheduled commercial banks reversed to some extent in the first week of this month, revealing the artificial boost given to meet annual targets.

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Move outside 5,125-5,375 could lead to breakout

The initial reaction to the 50-basis point policy rate cut in the latest credit policy on Tuesday was surprisingly muted. The cut was definitely larger than the market expected and, of course, the

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After cutting rate, RBI wants govt to act

Reversing the interest rate cycle after three years to boost investment and growth, the Reserve Bank of India (RBI) now wants the government to act on fiscal consolidation and oil price

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Proactive steps for liquidity promised

The Reserve Bank of India (RBI) on Tuesday said banks could borrow up to two per cent of net demand and time liabilities from marginal standing facility as against one per cent earlier, to provide

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