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RBI pauses after unlucky 13

  • RBI pauses after unlucky 13

    RBI pauses after unlucky 13

  • Sensex falls lowest since Nov '09

    Brokers trade on their computer terminals at a stock brokerage firm in Mumbai

    The BSE Sensex provisionally fell 2.2% on Friday after heavy selling by institutional investors in banking, metals and software stocks late in the session cut all gains made earlier in the day.

    The main 30-share BSE index provisionally closed down 2.22%, or 351.10 points to 15,485.37, and had fallen to 15,425.20 earlier, its lowest level since November, 2009.

  • Rupee jumps post free fall

    A Kashmiri shopkeeper displays a garland made of currency notes at a market in Srinagar construction

    The rupee jumped more than 2% on Friday and was on track to post its biggest single-day rise in more than two years after the central bank took steps to stem the currency's plunge to a series of record lows.

    The rupee bounced to 52.67/70 per dollar from 53.64/65 at close on Thursday.

  • India Inc hails RBI pause

    A construction labourer carries bricks on her head at the construction site of a residential estate on the outskirts of Ahmedabad

    Industry today welcomed the RBI's move to keep key policy rates unchanged in its monetary policy review and said the central bank's commitment to address the slowdown in growth in future actions was reassuring.

    However, CII president asserted that the policy does not reflect the urgency of the situation, with industrial growth contracting and the investment outlook subdued.

  • Corporates slam Incredible India

    A pedestrian walks past a poster for the "Incredible India 2003" Business Forum in Kuala Lumpur

    Frustrated executives while away time in five-star hotels waiting for deals that never come, and civil servants play video games in their offices - growing signs of the reform limbo and crisis of confidence behind India's economic malaise.

    Policy paralysis, corruption scandals and a government fearful of political backlash to any bold moves have combined with the global slowdown and worsening domestic finances in the last few months to derail Asia's third-largest economy.

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