Sagar National Travels

Reduction in CAD 30 12 2013   Reduction in CAD, pick up in exports improve India’s external sector: RBI The Reserve Bank today ruled out any major impact on domestic markets by the US Fed’s tapering its monthly bond-buying programme from later this week. The apex bank said that India’s external sector has improved with reduction in Current Account Defecit, CAD and a pick up in exports. In its eighth Financial Stability Report released today, RBI said, external sector risks have been reduced considerably and the effect of the tapering on the economy is expected to be limited and short-lived. On the occasion of releasing the Report in Mumbai, RBI Governor Raghuram Rajan warned on the high inflation as a hurdle for easy money policy. He said the outlook for the country’s economy has improved, with export growth regaining momentum, but growth is still weak. Mr. Rajan also warned against the rising tide of bad loans saying risks to the banking system have incr...

Growth in banking sector a great achievement: Chidambaram 29 12 2013 Expressing happiness over the growth of the banking sector in the last ten years, Finance Minister P Chidambaram on Monday described it as a great achievement of the UPA rule. Participating in the ’103rd Foundation Day Celebration’ of the Central Bank of India in Madurai he said: “The very fact that people have accepted the growth of banking sector as a normal phenomenon is a success to me and the government.”The celebration function is being organised for the first time outside the metro cities. He said the government had made great efforts to achieve this growth in the banking sector. “The bank officials including the Executive Directors, Chairmen and the Employees also played a major role in the expansion of the banking sector.” “Now the country is having 1,10,000 branches, and every year 7000 to 8000 branches were opened in the last nine years and this year 10,000 branches will...