Business

SBI has recently announced up to 3.5 per cent in lending rates to top-rated corporated but not for individuals

The limit of overseas investment in government bonds has been raised by $5 billion to $20 billion.

He said that there were discussions with the RBI Governor D Subbarao also in this regard last week.

The rupee fell to as low as 56 per dollar, near the session low of 56.04 in the previous day, a day after the RBI disappointed domestic markets by keeping monetary policy unchanged.

India rejects the warning saying the S&P does not determine what we at BRICS think about each other.

The World Bank said in a report thta developing nations should prepare for tough times by reducing short-term debt.

India will see growth increasing to 6.9, 7.2 and 7.4 pc in fiscal years 2012-13, 2013-14 and 2014-15, respectively, the World Bank said.

Standard & Poor's revised the rating to negative in April 2012 because of India's lower GDP growth prospects.

If this policy is approved, it will pave the way for mobile number portability and abolishing of roaming charges.

With the hike, the prices would become dearer by as much as Rs 7.54 per litre from midnight tonight.

The country's apex exporters body FIEO, however, said the continuous fall in the domestic currency will not help exporters much.

Pranab Mukherjee on Sunday said the steep fall in the rupee was a matter of great concern and the Centre was trying to resolve the situation.

He said while the last quarter did not show robustness, it remains to be seen how growth in the first quarter of the current fiscal will fare.

In India, investors are also showing little faith in the government's ability to solve its economic challenges.

European markets fell quite sharply ahead of Greek's politicians' last attempt to form government on Monday.

Truck sales alone grew 18 per cent in the year to March 2012 to over 800,000 vehicles.