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Reserve Bank of India says no recession in India  
26 October 2008, 10:25am IST

Reserve Bank of India on Saturday said that India’s growth story would continue despite a slight deceleration.

RBI governor D Subba Rao promised to take quick actions in case of liquidity constraints.

He also said that RBI had taken many measure to increase the dollar liquidity like easing of external commercial borrowing (ECB) norms, raising NRI deposit rates and allowing banks to borrow from their overseas subsidiaries and branches.
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Financial Crisis Related News and Articles

» Toyota to post first ever loss in its 70 years history» Bush announces $17.4 bln aid for US auto majors
» Goldman Sachs posts 10,500 crore loss» Bank of America to cut 35,000 jobs
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» US to rescue citigroup with $20 billion» India will survive global economic crisis: PM
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» After European countries now Japan enters Recession» Sacked Employee kills Indian-American CEO in US

Fed slashes interest rate to near zero

US Fed to cut interest rate towards zero

World Bank forecasts global recession in 2009

Global economy to be depressed until 2011 or even beyond

BMW sales down, Honda quits Formula One
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