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Rupee decline a shock but no reversal of economic reforms: PM

Last Updated: Friday, August 30, 2013, 13:42

Breaking silence over the rapidly declining value of rupee, Prime Minister Manmohan Singh Thursday said the development was "certainly a shock" and it will be addressed without reversal of reforms or resorting to capital controls.

PM concedes country facing difficult economic situation

Last Updated: Thursday, August 29, 2013, 11:55

With falling rupee and rising oil prices casting a shadow over Indian economy, Prime Minister Manmohan Singh on Thursday said the country is faced with a difficult economic situation for which some domestic factors too were responsible.

Banks unlikely to up lending rates as loan demand remains weak

Last Updated: Tuesday, July 30, 2013, 18:26

Banks are unlikely to increase lending rates in the near future despite recent liquidity tightening measures announced by the RBI to contain rupee fall, as demand for loans have remained weak.

RBI likely intervened in forex market at 53.30 Rs/USD levels: Traders

Last Updated: Wednesday, December 28, 2011, 17:49

Reserve Bank of India likely intervened in the foreign exchange market to sell dollars at around 53.30 rupees per dollar levels, four traders said.