MUMBAI: The Reserve Bank of India (RBI) said on Monday it would pump 360 billion Indian rupees ($4.95 billion) into money markets in October, pledging to buy back government bonds as part of a bid to quell fears of a credit crunch cascading through the economy. The latest move came after the government on Friday announced a borrowing target of a gross 2.47 trillion rupees ($34.08 billion), with higher-than-expected earnings from its small savings scheme helping to reduce its borrowing needs by 700 billion rupees. In…
SHANGHAI: The widely predicted failure of G20 leaders to agree on bold new steps to reinvigorate the world economy at a meeting in Shanghai this weekend puts the onus firmly back on central bankers.
KARACHI: State Bank of Pakistan (SBP) on Saturday announced its new monetary policy in which it was stated that the interest rate will remain unchanged at 6.0 percent.