Inflation Updates :
Need to Bring Inflation down to 5% : Reserve Bank of India Governor D Subbarao has said the battle against inflation has not ended yet and high prices were mostly hurting the poor people, who do not have a mechanism to get their voice heard.
The inflation continues to remain high and needs to be brought down to "more acceptable" levels of 5% or less, Subbarao said here, while noting that the challenge was to calibrate interest rates to control inflation and support economic growth at the same time.
"People are hurt by inflation, largely the poor people. They don't have the mechanism to get their voice heard," he said while delivering a lecture at Cornell University on 'India in a Globalizing World: Some Policy Dilemmas'.
Stocks Updates Today Wednesday 29 August 2012 :-
JP Associates sells FCCBs; shares fall: Shares of Jaiprakash Associates Ltd fell as much as 9 percent on Wednesday as concerns about net debt levels increased a day after the cement maker raised $150 million in foreign currency convertible bonds, in part, to redeem prior debt.
The rupee is trading in range at 55.6550/66 versus last close at 55.6650/6750. RBI Governor Duvvuri Subbarao said on Tuesday inflation remains too high, reiterating in a speech in Ithaca, New York his previously stated stance.
State-run bank dealer says markets on the lookout for dollar demand from oil companies.
MSCI's Asia ex-Japan up 0.1 percent, while
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