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SBI, ICICI Bank are systemically important banks: RBI

Systemically important banks are perceived as banks that are 'Too Big To Fail' that creates an expectation of government support for these banks at the time of distress.

Economic growth slows to 7% in June quarter

The growth is slightly higher than 6.7 per cent in the first quarter of the previous financial year.

July infrastructure output growth slows to 3-month low of 1.1%

The overall output was dragged down by a contraction in steel production and a slowdown in output of coal and refinery products.

HDFC Bank cuts base rate by 35 bps

Earlier, the bank cut its base rate by 15 bps on June 17, 2015.  Base rate is the rate below which a bank cannot lend.

FM Arun Jaitley

FM Jaitley said oil and commodity prices have seen global slump and India is a net importer of these. "And therefore I do see RBI as a very professional institution which will certainly take note of all these factors when it decides its next stand,"  he added.

Tue Sep 01 05:12:38 IST 2015
 
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