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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.
The Reserve Bank of India logo is pictured outside its head office in Mumbai

Reserve Bank Of India Disappoints Industry, No Rate Cuts Now

The Reserve Bank of India disappointed the industry as it left the repo rate and cash reserve ratio unchanged at 8 percent and 4.75 percent, respectively, in its mid-quarter policy review Monday. The reverse repo rate, at which banks lend money to the RBI, also remains unchanged at 7 percent.

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