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Business News
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Deposits in banks safe; no reason for anxiety: RBI Governor
Assuring depositors that their money was safe in banks, Reserve Bank of India Governor D Subbarao said on Saturday the central bank was geared to inject more liquidity into the country’s financial system and that there was no cause for anxiety. “Our banking system is stable and sound. There is no reason for any anxiety or uncertainty,” he said while talking to reporters in Washington.
GM, Chrysler in talks for possible merger: Report
Noting that the talks between GM and Cerberus Capital Management, the private equity arm that owns Chrysler, began over a month ago, the New York Times said, ‘negotiations are not certain to produce a deal.’ Quoting two people close to the process, the newspaper said that chances of a merger were “50-50″ as of Friday and
India can weather financial storm: FM
Referring to the current global meltdown, Chidambaram said, “There is a storm blowing in the world. We did not not create the storm. We are facing the spillover effects or the ripple effects of the storm. “The weekend is a good time for people to reflect. Firstly, those who have money. . . there have been wage increases for the government servants, and many have received Diwali bonuses”, he said.
