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RBI keeps repo rate unchanged at 6.5%; Rupee breaches 74 mark against US dollar

The Monetary Policy Committee of Reserve Bank of India (RBI) changed its stance from 'neutral' to 'calibrated tightening'.

 
 
The Reserve Bank of India's (RBI) monetary policy committee (MPC) will announce its key policy decision later this afternoon.
Chanda Kochhar on Thursday quit as the CEO of ICICI Bank. The ICICI Bank Board has accepted Kochhar's request to seek early retirement.
Finance Minister Arun Jaitley on Monday blamed the aggressive lending by public sector banks (PSBs) under UPA rule for rise in NPAs.
Yes Bank also said it has submitted its application to the RBI for their approval on appointment of two senior leaders of the bank as Executive Directors.
IMPS was adjudged the best fin-tech innovation, beating payment services from countries like US and China.
 
 
Though Bakshi will take control of the reins of the second-largest private bank, he will not get any additional remuneration for his new role as the CEO.
PNB reported a loss of Rs 940 crore for the June quarter of 2018-19 financial year. It clocked a profit of Rs 343.40 crore in the same quarter of 2017-18.
Mortgage lender HDFC, which is also India's largest housing finance company, on Monday increased its lending rate.
The lower limit will be effective from October 31 and will impact many SBI customers since these cards constitute a sizeable chunk of the bank's card portfolio.
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