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Dhanalakshmi bank trims deposit rates
Private sector-lender, Dhanalakshmi bank today said that it has reduced its interest rate on deposits across various slabs.

Karnataka Bhawan is jam-packed
The Karnataka Bhawan is packed with VIPs these days and the common Kannadigas are finding it difficult to get an accommodation in their state guest house. The BJP MLAs are camped there, besides a large Congress delegation that has come to hold parleys with the top leadership in New Delhi. HR Bharadwaj, the governor, also made a trip to the national capital while the political crisis in Karnataka was at its peak. Many thought Bharadwaj had come because of the current crisis, but the former law minister made it clear that his trip was planned almost two months ago when the BJP government was running smoothly. “I had come for a family wedding and to meet my chartered accountant for some accounts,” Bharadwaj told reporters.

News of the day

Domestic BPO mkt to touch $6.82 bn by 2013: IDC
After establishing itself as a major player in the international business process outsourcing (BPO) market, India is now set to shift focus on the domestic market, which is projected to grow at over 30 per cent annually.
Small Business

US Fed leaves key rates unchanged

The US central bank has retained near-zero rate regime to boost the country"s fragile recovery and said cheap credit would continue for an "extended period". - Interest rates likely to stay stable for 3-4 months: Bankers - RBI gives positive signal to economy: Fin Secy - Yaga Venugopal Reddy: What next for India"s fin sector?">Yaga Venugopal Reddy: What next for India"s fin sector? - No change in key rates expected, CRR may be hiked: Banks - Think about the risks - Bank of England, European Central Bank retain key rates After a two-day policy meeting, the Federal Reserve on Wednesday decided to retain the benchmark rates in the range of 0 to 0.25 per cent. "(The Fed) continues to anticipate that economic conditions, including low rates of resource utilisation, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period," it said in a statement. The Federal Open Market Committee, which decides on rates, struck a positive note, saying economic activity had continued to pick up in recent months and the housing sector is improving. However, a key US unemployment report due on Thursday could yield more clues about the ailing American consumer economy and demand for Asian exports.


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