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

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.

Banks unlikely to up lending rates as loan demand remains weak

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.