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Foreign banks hike minimum balance for savings accounts
Aim at closing inactive accounts and increase low-cost deposits

Markets slip, but recover soon post CRR hike
The markets slipped as a knee jerk reaction to the 75 basis points CRR hike announced by the RBI, but has soon recovered again. The CRR (Cash Reserve Ratio) hike was suprisingly higher than the 50 bps expected by the markets.

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Sensex ends down 201pts
The Sensex finally ended (provisional) with a loss of 201 points at 16,993. The NSE Nifty was down 59 points at 4,983.
Management

Govt has no info on ministerial conflict of interest in gas row

The Prime Minister’s Office does not have any information whether cabinet ministers who were part of the Empowered Group of Ministers (EGoM) to decide on the price of gas from the Krishna-Godavari basin had declared if they had any conflict of interest with regard to Reliance Industries Ltd or the late Dhirubhai Ambani. The PMO has said so in reply to a Right to Information (RTI) query. - GSMA not in consonance with family MoU: RNRL - F&O OUTLOOK: Indecisiveness spreads to stocks futures - Eyes on the world - Indecisiveness spreads to stocks futures - RIL woos Lyondell creditors as mgmt fights back - No final bid yet from RIL: LyondellBasell Is it not mandatory for ministers to declare their conflict of interests if they are part of an EGoM whose decisions may “economically benefit a corporate group,” Arun Agrawal, author of a book that refers to controversies surrounding the Reliance group, wanted to know. The PMO’s answer was ‘No’. In its reply dated December 8, the ministry said, “This division is not having information regarding who were in conflict of interest in respect of having past financial dealings with RIL, or Dhirubhai Ambani or employment of their wards at any time in their life.”


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