The Reserve Bank of India (RBI, Hindi: भारतीय रिज़र्व बैंक) is the central banking system of India and controls the monetary policy of the rupee as well as 287.37 billion US-Dollar (2009) currency reserves. The institution was established on 1 April 1935 during the British-Raj in accordance with the provisions of the Reserve Bank of India Act, 1934 [1] and plays an important part in the development strategy of the government.
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By IBTimes IN
The announcement of the government to hike petrol price by Rs 7.50 per litre, which will come into effect on Thursday, has not gone down too well with the public and government allies. The Bharatiya Janata Party (BJP) is even planning a nation-wide b... (2:06 pm)
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The Indian rupee descended to the all-time-low of 56.04 per dollar Wednesday even as the Reserve Bank of India and the Indian government said that they were monitoring the situation closely and taking corrective measures. (May 23)
MORE TOPICS: BOMBAY STOCK EXCHANGE, INDIA, NEW YORK, INVESTMENT
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The rupee plunged to a new low of 55.87 in the early Wednesday trade, marking its sixth consecutive record low against the US dollar. (May 23)
MORE TOPICS: INDIA, INVESTMENT
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Blaming the Euro Zone crisis for a weak Indian economy Indian Finance3 Minister Pranab Mukherjee said that government is taking several steps to protect the economy and rupee from further pressures. (May 22)
MORE TOPICS: INDIA, INVESTMENT
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Bombay Stock Exchange's benchmark Sensex fell Tuesday by more than 145 points, or 1 percent, as the rupee tumbled to a record low of 55.39 against the dollar. (May 22)
MORE TOPICS: BOMBAY STOCK EXCHANGE, INDIA, ICICI, STATE BANK OF INDIA
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As Andy Van Slyke's son, Los Angeles Dodgers outfielder Scott Van Slyke has a great baseball pedigree. It showed last night when Scott Van Slyke hit his first major league home run with dad Andy Van Slyke, former All-Star with the Pittsburgh Pirates, in the stands. (May 21)
MORE TOPICS: NEW YORK, LOS ANGELES
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The BSE Sensex posts its third consecutive daily gain on Monday after State Bank of India boosted the outlook of the stock market with its impressive earning last week. However, rupee hits a new record low at 55 per dollar, which could affect the stocks. (May 21)
MORE TOPICS: INDIA, MORGAN STANLEY, INFOSYS, ICICI, STATE BANK OF INDIA, INVESTMENT
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The Indian rupee Monday touched a record low of 55 against the dollar because of the strong demand for dollar from importers, weak global cues and delay over policy reforms from the government. (May 21)
MORE TOPICS: FTSE, BOMBAY STOCK EXCHANGE, INDIA, ICICI, STATE BANK OF INDIA
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India Friday announced a set of austerity measures in a desperate attempt to prop up economy and to instill investor confidence. (May 18)
MORE TOPICS: INDIA, CONSUMER PRICE INDEX
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The Citigroup has reportedly said the Indian rupee may dive south further to touch 60 against the US dollar. (May 18)
MORE TOPICS: GOLD, INDIA, INVESTMENT, CITIGROUP
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