Lower inflation adds pressure for cut in interest rates, but bankers are wary
With inflation hitting a 17-year low of 1.83%, real interest rates have hit double-digits once again. Corporates have begun a clamour for lower interest rates, but bankers are unwilling to oblige till deposit rates come down.

Mankad is finance secy, to head revenue
The Government is all set to effect a major bureaucratic reshuffle in the finance ministry. Information & broadcasting secretary PG Mankad will take over as the finance secretary, replacing Vijay Kelkar who moves on to the IMF as executive director.

Reserve Bank lets non-banking firms conduct repos
The Centre has allowed 35 non-banking entities to undertake ready-forward transactions in notified Government securities.

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  The Kargil Cause
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  Executive Briefing