Newsmakers: Honda recalls City sedan, Rajan on banking system and more

Apple Watch to hit Indian shores on November 6
Tech firm Apple will finally launch its smartwatch 'Apple Watch' in India on November 6. The smartwatch was launched in few countries including the US, France, Japan, and the UK in April this year and has been rolled out to other geographies in a phased manner.

China's central bank cuts lending rate by 25 bps
China's central bank cut interest rates for the sixth time since November on Friday in another attempt to jumpstart a slowing economy. The People's Bank of China (PBOC) said on its website that it was lowering the one-year benchmark bank lending rate by 25 basis points to 4.35 per cent, effective from October 24.

Honda recalls 3,879 units of City sedan in India
Japanese auto firm Honda is recalling 3,879 units of a particular variant of its popular sedan City in India which were manufactured from February- November 2014 to update a software for transmission system as part of a global exercise. The company 's Indian arm, Honda Cars India Ltd (HCIL) said the CVT variants of Honda City produced during the period are being recalled to update the software that manages the continuously variable transmission (CVT).

Price of pulses falls as govt intensifies crackdown against hoarding
The slide in prices of select pulses continued unabated at the wholesale market in the national capital following reports of raids by authorities on hoarders and the government's decision to import more lentils to check prices. Traders said the government's measures to curb soaring prices of pulses , including intensifying anti-hoarding operations, dragged down prices of select pulses by up to Rs 200 per quintal.

Raghuram Rajan says need to check flaws in banking system
Reserve Bank Governor Raghuram Rajan said there is a need to check flaws in the banking system to ensure that defaulters are not let off scot-free. Raghuram Rajan also called for "focus" in implementation of economic reforms and improving capacity at every level of economy and village and national infrastructure to maintain growth and check inflation.