Reserve Bank of India announced changes in its credit policy by hiking its short term lending (repo) rate by 50 basis points to 8 per cent. The reverse repo, the rate at which banks park their funds with RBI, has also been raised by 50 basis points to 7 per cent. The cash reserve ratio (CRR) has however remained unchanged.The industry responds:
Real estate major Nirmal Lifestyle has inked a 10-year licensing deal with International Association of Athletics Federations (IAAF), the governing body for athletics worldwide, to develop athletics in India and encourage greater participation in the sport.
