India's central bank, the Reserve Bank of India (RBI) moved Tuesday to hike key interest rate as well as banks' mandatory reserve requirement by 50 basis points (bps) or 0.50 percent in an effort to tame inflation.

The Federal Reserve reported Monday that more banks are tightening lending standards on home mortgages, other types of consumer loans and business loans in response to a spreading credit crisis.

The Federal Reserve cut a key interest rate by a quarter-point Wednesday, a smaller move than the aggressive easing it undertook earlier this year. There were signs the Fed may believe it has done enough to prevent a deep recession.

India's central bank, the Reserve Bank of India (RBI), in a bid to rein in inflation, has tightened cash conditions for the second time in less than a month, by raising its cash reserve ratio (CRR) by 25 basis points (0.25 percent) to 8.25 percent with effect from May 24 while keeping other off...

Bharat Oman Refineries Ltd (BORL), an equal joint venture between state-owned Bharat Petroleum Corporation Ltd (BPCL) and Oman Oil Co., is set to raise about Rs.2400 crore ($600 million) by tapping the primary market as well as through a pre-IPO placement, to part finance a Rs.10,400 crore ($2.6 bil...

A solar cell unit of Indian compact-disc maker Moser Baer India Ltd is seeking to raise about $150 million by listing on the Nasdaq exchange, two sources familiar with the plan said on Thursday.

Visa Inc burned its name into the record books for U.S. initial public offerings on Tuesday, raising $17.9 billion as investors seized on its growth potential and lack of direct exposure to the global credit crisis.

A $4.1 billion rights issue by State Bank of India, India's largest bank, was fully covered on Tuesday, despite global financial turmoil that knocked its shares down by nearly a third during the offer period.

Indian carriers are planning to raise $4 billion in 2008/09 in debt overseas to fund expansion, Ernst & Young said in a report, and the accounting firm now sees a narrower combined loss for them in the year.

The India Infrastructure Finance Co Ltd (IIFCL) will borrow $250 million from the Reserve Bank of India to fund equipment imports, its chief said on Tuesday.

Reserve Bank of India governor said on Thursday it was necessary to encourage expectations of greater flexibility in the rupee exchange rate, and said India was moving gradually towards that goal.

Japan and India agreed on Friday to set up a $6 billion bilateral currency swap facility to ward off any future financial crisis, Japanese media reported.

Finance Minister Palaniappan Chidambaram said he wanted banks to cut lending and deposit rates by 50 basis points, knocking bond yields to 11-month lows on speculation of an interest rate cut at the Reserve Bank of India (RBI) policy review on Jan. 29.

With a burst of fireworks and popping champagne, Cyprus ushered in the euro on Tuesday after ditching its pound at the stroke of midnight.

The decision by the U.S. Federal Reserve to cut interest rates is relevant to Indian monetary policy but not a determining factor, the governor of Reserve Bank of India (RBI), Y.V. Reddy, said on Thursday.

The Federal Reserve's move to join with other central banks to ease the global credit crunch could help restore its credibility after stock investors criticized its latest rate action, a senior portfolio manager said on Wednesday.

The Federal Reserve cut U.S. interest rates by a modest quarter-percentage point on Tuesday, disappointing Wall Street hopes for bolder action but offering some help to an economy facing credit strains and a deep housing slump.

The Federal Reserve cut its federal funds rate target for overnight interbank lending by 0.25 percentage points to 4.25 percent.

The final communique to be issued at the end of a Gulf Arab heads of state summit on Tuesday will maintain a commitment to achieve monetary union by 2010, the secretary-general of the 6-nation Gulf Cooperation Council said.