India upbeat on growth amid global crisis

Reuters
Posted: Tuesday, Oct 07, 2008 at 1247 hrs IST
Updated: Tuesday, Oct 07, 2008 at 1247 hrs IST

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New Delhi, October 7:: cut the cash reserve ratio (CRR) for banks to alleviate a cash squeeze caused by the global financial crisis, while the capital-markets regulator removed curbs on indirect investment notes to help encourage inflows.

The Reserve Bank of India has warned of global and local risks to growth in the short term, although long-term prospects were robust. Annual wholesale price inflation has eased to just below 12 per cent but price pressures remain....

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