The Reserve Bank of India raised key short-term policy rates by 25 basis points in an unscheduled announcement to tame doubled-digit inflation, but bankers said this won’t lead to any hike in interest rates for now.
Clearing the deck for the merger of State Bank of India and its associate, State Bank of Indore, the Reserve Bank is understood to have approved the amalgamation proposal.
Over the past year one year fixed deposits have returning a mediocre 5 to 7 per cent compared to the 74 per cent that investing in equities would have earned you or the 25 per cent that you could have earned by investing in gold.
The Reserve Bank on Thursday launched an online system to track applications to help the public. “Applications made to the various departments of the Reserve Bank of India (RBI) can now be tracked online through the application tracking system (ATS).…