Politics
Weakened Congress wondering if early elections will help
The Congress party is debating holding a general election in November, six months ahead of schedule, senior party leaders said, reflecting an internal discussion over whether to pull the plug on the shaky ruling coalition or have it serve a full term. Full Article
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SBI says sentiment building for lending rate cut
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People walk in front of a signboard displayed at the head office of State Bank of India in Mumbai November 9, 2009.
Credit: Reuters/Arko Datta/Files
MUMBAI |
MUMBAI (Reuters) - State Bank of India, the country's biggest lender, could ease lending rates even before the RBI cuts rates, its Chief Financial Officer Diwakar Gupta said.
The Reserve Bank of India cut cash reserve requirements for banks by 50 basis points last week, signaling a policy shift towards reviving growth after nearly two years of fighting inflation.
It had raised rates 13 times between March 2010 and October 2011, slowing demand for credit in Asia's third-largest economy.
Indian banks are expected to reduce rates for segments that are seeing higher demand for credit and lower level of defaults, but have not set any timeframe.
(Reporting by Shamik Paul; Editing by Aradhana Aravindan)
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