Elections in India are prime important as a stable govt formation at the centre holds key to making of a govt. Results declaration by companies shows slowdown is catching with them, barring a few companies. If we see TCS Q4 Net down 2.1% and revenues down 1.5%, however TCS declares 1:1 Bonus to appease investors. Sesa Goa Q4 Net profit down 33% , Axis Bank on contrary has its net zooms 61% with Interest Income up by 25% and Delta Air has ended use of Indian Call Centers which shows that American slowdown is catching us too. IPL on contrary went to S.Africa and it is set to earn a billion rand which will revive its economy.
Reserve Bank of India Actions to save Indian Economy
RBI has cut Repo and Reverse Repo rates by 25 BPS each and thus Reverse Repo rate becomes 3.25% and Repo Rate becomes 4.75%. RBI has kept the CRR unchanged at 5%.
Related posts:
{ 1 trackback }