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The Reserve Bank on Tuesday said it will decide by December ways to regulate salary of CEOs and other top officials in private and foreign banks, since hefty compensation was one of the factors in the global financial meltdown. “… it is proposed to issue final guidelines on compensation practices by end-December... 

Cost of home, auto and corporate loans may not go up immediately, even though the Reserve Bank today raised short-term key policy rates by 25 basis points to check high inflation, bankers said. “The transmission mechanism between RBI and rest of the financial system does not work very fast. It always works with a time... 

Finance Minister Pranab Mukherjee on Tuesday admitted the RBI’s move to hike short-term lending and borrowing rates will hurt growth in the near-term, but exuded confidence that economic expansion will gather pace later as a consequence. Mukherjee said the RBI took the decision at a difficult time, when the economy is... 

The Reserve Bank of India has tightened home loan norms by asking banks not to lend more than 80 per cent of the value of the house to borrowers. This means that new borrowers will have to shell out at least 20 per cent of the total value of the house from their pockets. The central bank has also increased the risk weight for... 

After Finance Minister Pranab Mukherjee on Monday said inflation is a matter of concern, indicating that the Reserve Bank of India (RBI) could take some steps to check rising prices, the central bank has also said the inflation is above the comfort level. “Inflation needs to slow further to ease concerns. It continues... 

New York: The simple credit card is about to get a makeover. Next month, Citibank will begin testing a card that has two buttons and tiny lights that allow users to choose at the register whether they want to pay with rewards points or credit, at most any merchant they please. Other card issuers are testing more newfangled... 

The Japanese economy is at a standstill, Japan’s government has said, as concerns about the strong yen continue to grow. The recovery in the economy was “pausing”, the Cabinet Office said in a monthly statement. It is the most negative the government has been about the economy in nearly two years. The rising... 

Banks are likely to hike their deposit rates further in the second half of the financial year, as credit growth starts to get stronger, Crisil Ratings said on Monday. The recently announced moderate increases in the banks’ base rates underscore the general expectation that the momentum in credit offtake will... 

BANGALORE: Kingfisher Airlines is in the process of pruning workforce and the number of expat pilots to offset mounting costs. However, the airline said it would hire more Indian pilots. “Reducing workforce is an attempt to bring in structural changes without any large-scale layoffs. There are several employees on our... 

The country’s largest lender State Bank of India (SBI) Thursday said it will raise deposit rates by 25 to 75 basis points from tomorrow, but the bank has kept minimum rate of interest on loans unchanged at 7.50 percent. “The bank revises upwards the deposit rates by 25-75 bps in various maturities, effective October...