RBI To Hike Rates By 25 Bps Says Poll; Sensex Sheds 176 Pts; Higher Advance Tax Mop-Up Nails Slowdown Fears; UPA Killing Lokpal Bills Says Team Anna

Wednesday, Jun 15, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version CREDIT POLICY POLL: RBI TO HIKE RATES BY 25 BPS According to a poll of bankers and economists, 100% expect the Reserve Bank Of India to hike repo rate by 25 basis points to 7.5% on Thursday, June 16. All the respondents expect the RBI to leave cash reserve ratio (CRR) unchanged. If RBI hikes repo rate by 25 bps, 20% of the respondents expect lending rate hike and 10% expect deposit rate hike. read more LEAD STORIES SENSEX SHEDS 176 PTS AHEAD OF RBI POLICY Sensex closed at 18,132.24 points on fears of rate hike ahead of RBI credit policy meet on June 16. Nifty fell 53 points to end at 5,447.50. read more HIGHER ADVANCE TAX MOP-UP NAILS SLOWDOWN FEARS SBI paid Rs 1,100 crore advance tax vs Rs 850 crore a year-ago, followed by RIL's Rs 900 crore, up nearly 50%. read more UPA KILLING LOKPAL BILL SAYS TEAM ANNA The 7th Lokpal meeting ended today with no consensus on many issues. It is now learnt that the government will place two drafts in Parliament. read more TOP STORIES • Bharti looks to buy Vodafone's indirect stake in Airtel • CWG scam: I-T searches 17 premises of 2 contractors • RIL's 30% stake sale in gas blocks to BP gets govt nod • On eve of RBI meet, govt says inflation not alarming • Banks' deposit grow faster than credit till date • After 2 successive cuts, ATF prices hiked by 2.4% • Bombay HC adjourns Lavasa case to July 12 • CCEA verdict on Cairn-Vedanta expected on June 16 • Maruti strike continues, AITUC warns it could spread • Strike pushes waiting period on select Maruti cars • MTNL receives I-T refund of Rs 177 cr • SAIL plans to raise $400 mn from overseas lenders • ICICI denies talks with Nigeria's Spring Bank • Satyam case: CBI reduces witnesses to 220 from 690 • Essar, Raheja, Satyam pull out of SEZ projects • Coal imports up nearly 50% in Jan-May at 44.7 MT • India is largest recipient of remittances at $55 bn • Greeks rage against austerity while EU argues • U.S. has strong cos, troubled politics: Raghuram Rajan • Rajinikanth discharged from Singapore hospital more stories TOP VIDEOS India In Penultimate Stage Of Monetary Tightening: Sanjay Mathur, Regional Economist, RBS We Could See Some Restructuring Of Spanish Regional Debt; That Would Be A Negative For Euro And European Markets: Robert Parker, Vice Chairman, Credit Suisse Asset Management AT A GLANCE BSE 18132.24 -176.42 NSE 5447.5 -53 TURNOVER Rs. 96,022 cr BSE CASH Rs. 2,591 cr NSE CASH Rs. 9,579 cr NSE F&O Rs. 83,851 cr BULLION GOLD 22444 +96 SILVER 53486 +293 CRUDE NYMEX 102.25 -0.08 BRENT 118.34 -1.82 FOREX $ / Re 44.77 +0.03 £ / Re 72.729 -0.15 € / Re 63.954 -0.24 EVENTS 16 June RBI Credit Policy Meet National Conclave On Microfinance- Strangulate Or Regulate, Bangalore 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 23-26 June Auto World Expo, Chennai Trade & Convention Centre, Chennai EXPERT VIEWS "If we are unable to arrive at a consensus (on the Lokpal Bill), we will send both versions - a version framed by the representatives of the Government and a version by the civil society representatives - to the Cabinet." Kapil Sibal Telecom Minister "One of the advantages of this long drawn-out crisis resolution process is that many private sector entities that were exposed to Greece have reduced their exposure." Raghuram Rajan Former IMF Chief Economist "Over 3 billion people - in China, India, Indonesia and other developing countries - are achieving in a generation what it took the West a century or more to achieve. This alone stands as the most significant economic event in history." Pascal Lamy WTO Chief 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