ICICI

RBI Holds Repo Rate Despite 'Big Bang' Reforms

A man talks on his mobile phone as he walks past the logo of the Reserve Bank of India (RBI) inside its head office in Mumbai
The Reserve Bank of India (RBI) left interest rates unchanged but cut the cash reserve ratio for banks on Monday, disappointing market hopes that it would follow up the government's unexpected spate of bold reform measures by reducing borrowing costs.
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A man looks at an electronic board at a brokerage house in Shanghai

Asian Stocks Gain On Stimulus Expectations

Most of the Asian markets rose Monday as investor confidence was lifted by the hope that the central bank around the globe would announce stimulus measures to regain the economic growth momentum.
A man leaves an automated teller machine (ATM) facility of ICICI bank in Kochi

ICICI Bank Q1 Profit Jumps 36 Percent, Beats Forecast

ICICI Bank(ICBK.NS), India's top private lender, posted on Friday a 36.3 percent jump in quarterly profit, its strongest growth in more than a year, helped by robust loan growth, high fee income and better asset quality.
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Wipro Net Profit Up, Shares Drop On Week Forecast

Wipro Ltd, India's third largest IT services exporter, Tuesday reported a jump of 6.7 percent sequentially in its first quarter profits for the financial year 2012-13, aided by the strong demand for outsourcing services and the week Indian rupee.
Maruti Suzuki

Maruti Suzuki Riot: Shutdown to Cost $15 Million a Day

With a manager dead, 90 employees in jail and an entire factory's workforce under investigation for murder, Maruti Suzuki faces a shutdown at a major auto plant that could last several weeks or more and cost it $15 million a day.
Kingfisher Airlines

Lenders Ask Kingfisher To Sell Assets

A consortium of lenders of the cash-strapped Kingfisher Airlines Thursday asked the Indian private carrier to sell its properties in Goa and Mumbai and to come up with concrete steps to improve its operations.
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Fitch Revises Outlook On Indian Financial Institutions To Negative From Stable

Fitch Ratings Wednesday revised its outlook on 11 India-based financial institutions to negative from stable while affirming the rating. Fitch revised the outlook on the Indian Railway Finance Corporation Limited's (IRFC) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to negative from stable and affirmed the ratings at 'BBB-'.
Exports Overstated by $9 Billion, Says Indian Government

RBI Rate Decision Pressures Delhi For Fiscal Action

The surprise decision Monday by the Reserve Bank of India to hold its interest rate steady because of inflation concerns puts fresh pressure on the ruling Congress Party to find a fiscal solution to the country's flagging economy.

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