MUMBAI - The Reserve Bank of India (RBI) lowered its policy repo rate by 25 basis points to 7.5 percent on Wednesday, its second inter-meeting cut this year on the back of easing inflation and what it said was the "weak state" of parts of the economy.
NEW DELHI - The government welcomed a surprise interest rate cut on Wednesday as good news for the economy that would not pose any inflationary risks.
NEW DELHI - An interest rate cut on Wednesday by the Reserve Bank of India represents a vote of confidence in the government's fiscal consolidation efforts and will provide a near-term boost to the economy, Minister of State for Finance minister Jayant Sinha said.
MUMBAI - The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.5 percent on Wednesday, in its second move this year outside official policy meetings.
REUTERS - Activity in India's services industry expanded at its fastest pace in eight months in February as improving domestic demand drove a surge in new orders, a business survey showed on Wednesday.
MUMBAI - The BSE Sensex and Nifty touched record highs on Wednesday as interest rate-sensitive stocks such as HDFC Bank gained after the Reserve Bank of India (RBI) eased monetary policy for a second time this year, raising hopes about credit growth and the broader economy.
SINGAPORE - The rupee hit a one-month high on Wednesday after the Reserve Bank of India (RBI) delivered another unexpected rate cut, while emerging Asian currencies barely moved ahead of U.S. economic data and a European Central Bank meeting later this week.
BEIJING - Activity in China's services sector grew modestly in February as new orders rose at their quickest pace in three months, a private survey showed just a few days after the central bank cut interest rates to stimulate the world's second-largest economy.
Tue, Mar 3 2015
NEW DELHI/MUMBAI - London's landmark Grosvenor House hotel has been put up for sale after its owner, part of troubled Indian conglomerate Sahara which has been trying to raise funds for its jailed boss Subrata Roy, was placed into administration by creditors.
TOKYO - Asian shares and the dollar eased on Wednesday as investors grew cautious before upcoming central bank meetings and U.S. jobs data, while India's central bank surprised with its second inter-meeting rate cut this year.