New Delhi, March 07 (ANI): Union Finance Minister P Chidambaram asserted on Friday that the government has the right set up an inflation target while the Reserve Bank of India's (RBI) role is to implement the decision. The comment by Chidambaram comes after a RBI panel in January proposed moving to an inflation target of 4 percent in three years, with a 2 percent band on either side when setting monetary policy, sharply below current levels. The recommendation raised concerns about a potential clash with the traditionally more pro-growth finance ministry, which were further reinforced after RBI surprised investors in January by raising interest rates by a quarter percentage point, its third hike in five months. Chidambaram made it clear that parliament will set an inflation target and entrust the central bank to implement the propositions.
Mar 7, 2014
New Delhi, March 7 (ANI): Trading at the Bombay Stock Exchange today closed 405.92 points up to stand at 21,919.79. At the National Stock Exchange the Nifty closed 125.50 points up to stand at 6,526.65. Adani Enterprises Ltd. and DLF were among the top gainers of Group A with an increase of 10.13% and 9.87% along with Jaiprakash Associates Ltd. and Yes Bank with an increase of 9.76% and 8.63% respectively, while the top losers of Group A include Aurobindo Pharma Ltd. and Tech Mahindra with a decrease of 4.82% and 4.61% along with MCX and Dr Reddys Lab with a decrease of 3.74% and 3.59% at the close of the markets. The Auto sector is up 136.52 points at 12,721.44 while the banking sector is up 689.10 points at 13,567.23 and the realty sector is up 69.64 points at 1,359.57. The Indian currency is down 0.03% at Rs 61.09 per dollar.
Mar 7, 2014
New Delhi, March 6 (ANI): Trading at the Bombay Stock Exchange today closed 225.76 points up to stand at 21,502.62. At the National Stock Exchange the Nifty closed 72.50 points up to stand at 6,401.15. Prestige Estates and Reliance Infrastructure Ltd. were among the top gainers of Group A with an increase of 12.23% and 10.03% along with Jaiprakash Associates Ltd. and HDIL with an increase of 8.88% and 7.22% respectively, while the top losers of Group A include IPCA Lab and Glaxosmithkline Pharmaceuticals Ltd. with a decrease of 2.67% and 2.56% along with ABB India Ltd. and Eicher Motors with a decrease of 1.84% and 1.65% at the close of the markets. The Auto sector is up 87.80 points at 12,567.17 while the banking sector is up 213.19 points at 12,878.13 and the realty sector is up 50.70 points at 1,289.93. The Indian currency is down 0.76% at Rs 61.28 per dollar.
Mar 6, 2014
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