The year-end rush for funds ahead of a holiday-shortened week pushed interest rates in the call money market to 15 per cent on Friday, 550 basis points higher than the previous close. Such a level was last seen in November 2008. Also, banks borrowed to cover fortnightly reserve needs for four days, adding to the liquidity pressure. According to norms, banks need to set aside 4.75 per cent of net demand
For the last several quarters, Mumbai-based Future Capital Holdings (FCH) has been in the news for a stake sale. The Kishore Biyani-promoted company’s Vice-Chairman and Manging Director
With an estimated seven per cent increase in domestic milk production this year, availability of milk and dairy products has improved. The improved supply, driven by higher production, has led to a
Interest rates on retail term deposits may stay at current levels, or even inch up, in April as bankers are unlikely to revise them taking into account the tight liquidity conditions and the
The rupee fell, approaching a two-month low, as US consumer confidence nearing a one-year high bolstered demand for dollars amid a retreat in local equities. The rupee declined 0.1 per cent to 50.8
A day after judge Sanjib Banerjee of the high court here passed an interim order to appoint a provisional liquidator over Dunlop India (DIL) assets, the company on Tuesday withdrew a petition
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