Current Account Deficit Zooms To Record 6.7% In Q3; Sensex Signs Off FY13 With 130 Pts Rally

Thursday, Mar 28, 2013 CURRENT ACCOUNT DEFICIT ZOOMS TO RECORD 6.7%   Current Account Deficit widened from 5.4% in the July-September quarter to a record high of 6.7% of GDP in the October-December quarter. The wider Current Account Deficit of $32.6 bn was mainly on account of a larger trade deficit, data released by the Reserve Bank of India on Thursday showed. This is much higher than the 6.4% estimated by CNBC-TV18 poll. A surge in capital flows helped finance the Current Account Deficit. read more   LEAD STORIES PANEL FOR MORE GOVERNMENT SAY ON MONETARY POLICY  Govt panel recommended that governor of the RBI should set up monetary policy in consultation with a committee including govt appointees. read more SENSEX SIGNS OFF FY13 WITH 130 PTS RALLY  Markets gained towards the end, amid March expiry series, being down on weak global through the day. Sensex at 18,835. Nifty up 40.95 pts at 5,682. read more HC STAY ON RS 2,000 CR TAX NOTICE TO NOKIA  Nokia has been granted an interim stay from the Delhi High Court post the Income-Tax Department's Rs 2,000 cr demand notice. read more TOP STORIES • CAD in Q4 to be lower: Chidambaram   • HDFC bank cuts base rate to 9.6%; lowest in industry   • Pawar's health normal; on official tour to K'taka   • Fiscal deficit on track till Feb at 94.7% of estimate   • India's external debt rises to $376 bn   • Someone has taken money in chopper deal: Def Min   • Local steel prices fall below world levels   • India-EU FTA may be in jeopardy if Apr 15 meet fails   • Cloud over Cipla's takeover bid of Medpro SA   • USFDA lifts import alert on Aurobindo Pharma unit   • Novartis' Gilvec patenting legal judgement on Apr 1   • Novartis shares swing on promoter stake dilution news   • BHEL exits Udangudi Power Corp joint venture   • Japan extends Rs 11,400 cr loan for 3 infra projects   • No need of KYC from 'all' members of SHGs: RBI   • Come summer, this scam may cause Delhi water riots   • Sanjay Dutt not to seek pardon, will surrender in time   • US Congressmen invite Narendra Modi to America   • Cyprus reopens banks under tight restrictions   • BRICS agrees to create $100bn contingency fund   more stories TOP VIDEOS Projects Worth Rs 4 Lakh Crore Stalled In FY13: Mahesh Vyas, MD & CEO, CMIE   Overweight On India; See Good Return In 1 Year: Adrian Mowat, Chief Asian & Emerging Equity Strategist, JPMorgan   AT A GLANCE BSE 18835.77 +131.24 NSE 5682.55 +40.95 TURNOVER Rs. 328,101 cr BSE CASH Rs. 2,918 cr NSE CASH Rs. 14,221 cr NSE F&O Rs. 265,245 cr BULLION GOLD 29490 -142 SILVER 53774 -288 CRUDE NYMEX 96.66 +0.08 BRENT 109.38 -0.31 FOREX $ / Re 54.28 -0.09 £ / Re 82.326 +0.08 € / Re 69.668 +0.19 EVENTS TO WATCH 26 - 27 March 5th Annual BRICS Summit, Durban, South Africa 27 March U.K GDP Data To Be Released 28 March U.S. GDP Data To Be Released 28 March India's Q4 Trade Deficit Data To Be Released 3 April IMC's Seminar On Investment Outlook 2013, 9 AM Onwards, BSE Convention Hall, Dalal Street, Mumbai

"Although the CAD is large, yet it is a matter of satisfaction that it has been fully financed without drawing upon the foreign exchange reserves. Going forward too, we hope to be able to finance the CAD through sufficient foreign inflows. If the current trend of improvement in exports and steadiness in imports persists, the CAD is likely to moderate from here." Finance Ministry Statement "There are many other people who deserve pardon. I want to tell with folded hands to the media, the honourable citizens of the country that when I am not going for pardon then there can be no debate about it." Sanjay Dutt Actor "My commitment to Parliament stands (on Agusta Westland deal) I do feel somebody has taken money. The enquiry is at a crucial stage. We will not show mercy to anybody and will take action, however, powerful he may be." A K Antony Defence Minister