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Nov 2, 2010

India raises rates, eyes pause in tightening

MUMBAI, Nov 2 (Reuters) – India’s central bank raised
interest rates for the sixth time this year on Tuesday to try to
tame stubbornly high inflation but said there was little chance
of another increase in the near term.

The Reserve Bank of India (RBI) raised its lending and
borrowing rates by 25 basis points each, as expected by most
analysts, and pledged to remain vigilant about inflation, which
at 8.6 percent is well above policymakers’ comfort level.

Nov 2, 2010

RBI raises rates, signals tightening pause

MUMBAI (Reuters) – The Reserve Bank of India (RBI) raised interest rates for the sixth time this year on Tuesday to tame inflation, and indicated that the increase was likely to be its last in the near term.

The RBI raised its lending and borrowing rates by 25 basis points each, as expected by most analysts, and said it would remain vigilant about inflation that remains above its comfort level.

Nov 2, 2010

India cbank raises rates, signals tightening pause

MUMBAI, Nov 2 (Reuters) – India’s central bank raised
interest rates for the sixth time this year on Tuesday to tame
inflation, and indicated that the increase was likely to be its
last in the near term.

The Reserve Bank of India (RBI) raised its lending and
borrowing rates by 25 basis points each, as expected by most
analysts, and said it would remain vigilant about inflation
that remains above its comfort level.

Nov 1, 2010

India cbank warns on inflation; rate hike seen

MUMBAI, Nov 1 (Reuters) – India’s central bank cautioned on
Monday that inflation is still above its comfort level, adding
to expectations that it will raise interest rates for the sixth
time this year at its monetary policy review on Tuesday.

Elevated levels of wholesale and consumer price inflation
remain a challenge for monetary policy while high food price
inflation is also a concern, the Reserve Bank of India (RBI)
said in a report.

Nov 1, 2010

RBI warns on inflation on eve of policy review

MUMBAI (Reuters) – The Reserve Bank of India (RBI) cautioned on Monday that inflation is still above its comfort level, and elevated levels of wholesale and consumer price inflation remain a challenge for monetary policy.

The central bank, which is expected to raise interest rates for the sixth time this year on Tuesday, also said high food price inflation was a concern.

Aug 26, 2010

Tata Power in talks for InterGen stake-source

MUMBAI, Aug 26 (Reuters) – Indian utility Tata Power Ltd
(TTPW.BO: Quote, Profile, Research, Stock Buzz) is in talks to buy a 50 percent stake in U.S.-based
power utility InterGen NV for $1 billion to $1.2 billion, a
source with direct knowledge of the situation said on Thursday.

Tata Power plans to buy the stake from GMR Infrastructure
(GMRI.BO: Quote, Profile, Research, Stock Buzz), an Indian builder of roads and airports.

Aug 16, 2010

Vedanta founder Agarwal is a daring dreamer

MUMBAI, Aug 16 (Reuters) – Anil Agarwal arrived in Mumbai,
India’s city of dreams, decades ago with little more than a
burning ambition to succeed.

Now the billionaire chairman of mining giant Vedanta
(VED.L: Quote, Profile, Research, Stock Buzz), he lives his dream in London but his ambition burns on.

Jul 15, 2010

RBI lifts rates, signals more tightening

MUMBAI (Reuters) – The Reserve Bank of India on Tuesday raised key interest rates by 25 basis points and said further rises were likely as it moves to return monetary policy towards pre-crisis settings and battles near double-digit inflation.

The Reserve Bank of India’s move was in line with expectations, but some investors had bet on a bigger rise and central bank watchers said the measured tightening increased the likelihood of another hike before the next quarterly review in July.

Jul 8, 2010

A who’s who among Indian economic policymakers

MUMBAI, July 7 (Reuters) – Who sets economic and monetary
policy in India?

While Congress Party leader Sonia Gandhi and Prime Minister
Manmohan Singh set the general direction, neither speaks
publicly on monetary policy on a regular basis.

Below are profiles of key players and their recent
statements on inflation, growth and monetary policy.

Jun 10, 2010

May inflation seen below 9 pct – advisor

MUMBAI (Reuters) – Thewholesale price inflation is likely to drop below 9 percent in May then rise on higher fuel prices before declining from August or September, a top policy adviser said on Thursday.

“It will be lower at least for the month of May. My guess is it will be lower than 9 percent,” Saumitra Chaudhuri, a member of India’s Planning Commission and Prime Minister Manmohan Singh’s economic advisory council, told Reuters Insider television in an interview.