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Fear grips Indian stock, credit markets
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Sensex concluded the worst week in its history, shedding almost 2,000 points and wiping out investor wealth worth Rs 6.6 lakh crore in just four trading sessions.
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RBI cuts CRR by 100 bps
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On Friday, when Sensex plunged by almost 1,000 points to 10,300, RBI swung into action and announced a one percentage point cut in the cash reserve ratio.
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PSU banks buck the trend
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The performance of some of the government-owned banks in suggest the strength of the Indian financial market.
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Banks' foreign ops run smooth
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According to latest RBI data, the total NRI deposits during the fortnight ending on July 18, 2008 increased be over Rs 3,000 crore from Rs 59,000 crore to Rs 63,081 crore.
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Why single us out, says ICICI
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Asserting that inter-bank borrowing rate had hit a high of 24%, ICICI Bank on Friday rued for being singled out for borrowing at market rate for short term.
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No recession fear: PM
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Putting up a brave front in the face of global meltdown, PM Manmohan Singh said that the government is watching the situation on a "day-to-day and hour-to-hour basis" and asserted that there is no question of recession in India.
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M-cap of PSUs declines
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From a peak level of Rs 19.2 lakh crore on January 4 this year - the day BSE's PSU index scaled its all-time high - combined market capitalisation of these government-run companies are now at Rs 9.96 lakh crore.
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Basic, capital goods down
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To return to the industrial growth numbers, the sectoral pattern of growth is particularly worrying in terms of the long-term prognosis.
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