RBI injects Rs 20,000 cr, SEBI woos investors

Mumbai/New Delhi, October 07, 2008 Fears of the United States-led financial crisis cascading to other countries, particularly Europe, combined with apprehensions that the $700 billion bailout package, history’s biggest, may not be enough, turned markets on both sides of the sub-continent in spots of red. Long before the Indian markets opened and long after the benchmark BSE Sensex fell 725 points or 5.8 per cent, markets from Australia and Asia to Europe and the Americas thudded to touch new bottoms. As the Sensex closed below 12,000 to touch a two-year low, the Dow in the US fell 4.1 per cent, reeling below the 10,000 mark, after four years. It is a welcome step and a good indicator of RBI’s willingness to act: Chanda Kochhar Joint MD and CFO, ICICI Bank In a surprise move to bring some liquidity into the Indian banking... [read full story]