RBI Hikes Key Rates By 25 Bps; Sensex Dips Below 18K; Lokpal Bill In Logjam, Anna To Fast Again

Thursday, Jun 16, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version LOKPAL BILL IN LOGJAM, ANNA TO FAST AGAIN With a dead end in sight for the Lokpal Bill, Anna Hazare on Thursday threatened to go on a hunger strike again saying that the government is not interested in a strong bill. Hazare said that he will go on a fast again from August 16. "It looks like the Centre doesn't want to bring a strong Lokpal Bill," said Hazare. read more LEAD STORIES RBI HIKES KEY POLICY RATES BY 25 BPS Continuing its efforts to check price rise, the RBI raised repo and reverse repo rates by 25 basis points for the tenth time since March 2010. read more GREEK CRISIS, MONSOON DEFICIT FEAR SPOOKS MKTS Fear of monsoon deficit, fall in global markets saw sensex slipped to 146.36 points to close at 17,985.88. Nifty fell 50.75 points to end at 5,396.75. read more EUROPE FACES 'LEHMAN MOMENT' AS GREECE UNRAVELS EU's failure to contain the Greek debt crisis is sending fresh shockwaves through currencies, money markets, equities and derivatives. read more TOP STORIES • Home, auto loans to become more expensive • No two drafts on Lokpal Bill: Moily • TCIL may approach co law board against Bharti Airtel • Tata Steel sells stake in Riversdale for A$1.06 bn • End to Maruti's 13-day strike in sight • Food inflation down marginally to 8.96% • Post Office savings accounts to be taxed • RIL stock hits 2-year low, slips below Rs 900 • Essar's stake in Loop within permissible limit: MCA • Mafatlal Industries sells Mumbai land for Rs 605 cr • Cabinet meet ignores Cairn-Vedanta deal • RBS, Wockhardt to settle loan default out of court • 2G scam: Nira Radia tells CBI she's being blackmailed • SEBI relaxes norms on changing names by listed firms • Serum Institute of India's vaccine beats Glaxo's • ANZ bank opens first branch in India • Alibaba to split, not IPO, e-commerce unit Taobao • Ireland snubs ECB effort to avoid meltdown • CIA website goes down, hackers claim responsibility • As IBM turns 100, succession debate heats up more stories TOP VIDEOS Another One Or Two Installments Of 25 Bps Hike May Be Necessary: C Rangarajan, Chairman Of Economic Advisory Council To The Prime Minister No Rainfall Deficit Of 9% As Reported: AB Mazumdar, Deputy Director General, MET Growth Rate Below 8% Is Not Doom's Day As Some People Try And Make It Out To Be: Rajiv Kumar, Secretary General, FICCI < /a> AT A GLANCE BSE 17985.88 -146.36 NSE 5396.75 -50.75 TURNOVER Rs. 136,637 cr BSE CASH Rs. 2,699 cr NSE CASH Rs. 10,849 cr NSE F&O Rs. 123,088 cr BULLION GOLD 22452 +31 SILVER 53135 +77 CRUDE NYMEX 102.25 -0.08 BRENT 113.9 +0.89 FOREX $ / Re 44.9 +0.13 £ / Re 72.381 +0.12 € / Re 63.561 +0.27 EVENTS 17 June National Banking Conclave: Challenges & Opportunities In a Trillion Dollar Economy, Shangrila, New Delhi 20 June SC To Hear Kanimozhi Bail Plea Lokpal Bill Meet 21 June Lokpal Bill Meet 23-26 June Auto World Expo, Chennai Trade & Convention Centre, Chennai 27-28 June 4th Annual Conference On Solar Power In India, ITC Maurya, New Delhi EXPERT VIEWS "Contrary to expectations, the inflation rate in May went up very considerably and therefore, it left the RBI with no other option but to raise the policy rates... The hike in the interest rates will have some impact in terms of (companies) postponing the investments. C Rangarajan Chairman, PMEAC "... High input prices, rising finance costs and global uncertainties are adding to negative sentiments. All these factors in a high interest rate environment will most certainly put the brakes on new investments and put corporate India in a difficult position to maintain the growth momentum." Dilip Modi President, Assocham "No doubt, it (RBI's move) will have a negative impact on the automobile industry. It was expected... Now we would like to see how much banks pass the burden (on to customers)." Pawan Goenka President, SIAM WATCH OUT Ministers of Change The Indian landscape is changing. States like Bihar, Gujarat, Rajasthan and Orissa are witnessing phenomenal transformation and are redefining governance. Join Shereen Bhan as she explores new models of development, inclusivity and reforms introduced by leaders who are transforming India on CNBC-TV18's Ministers of Change. SHOW TIMINGS Sat 9:30pm Sun 9pm Thur 7:30pm