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Abheek Barua: What if Subbarao hikes policy rates tomorrow?
Abheek Barua / New Delhi October 26, 2009, 0:19 IST

Navi Mumbai body asks banks to pay cess on gold deals
Public and private sector banks in the Navi Mumbai municipal area which have done gold transactions, will have to pay 1 per cent account-based cess on the total turnover. The Navi Mumbai Municipal Corporation (NMMC) could be the first civic body in the country to recover such a cess on gold transaction.

News of the day

Food inflation rises again; RBI may hike rates
After easing for three weeks in a row, food inflation inched up to 17.40 per cent for the week ended January 16, a development that may prompt the Reserve Bank to hike key policy rates to tame the rising prices.
Corporate

PM leaves for four-day US visit

Prime Minister Manmohan Singh left for Washington today for talks with President Barack Obama, saying India attaches “high priority” to its relations with the US and a “sustained and dynamic” partnership between them is essential to meet major global challenges like terrorism, climate change and economic slowdown. - China"s moment in the sun - India attaches high priority to ties with US: PM - PM not to stay at Blair House - Tata, David Cote to co-chair Indo-US CEO Forum - Nuclear cooperation high on prime minister agenda in US - Centre blinks, removes changes in cane order Singh, who would meet Obama on Tuesday, said India’s relations with the US was today characterised by “greater maturity, depth and convergence of interests”. In a departure statement, Singh said he looked forward to building upon this momentum during the nine-day visit that would also take him to Trinidad and Tobago for the Commonwealth Heads of Government Meeting (CHOGM). “The last several years have witnessed a transformation in India-US relations”, he said. Singh, the first foreign leader to be hosted as State Guest by the 10-month-old Obama Administration, has a hectic schedule during his four-day stay in Washington. His engagements include addressing the Senate Foreign Relations Committee and business leaders of the two countries besides receiving some top US officials. “A sustained and dynamic India-US partnership is essential if we are to meet the global challenges of the 21 century”, Singh said.


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