Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank on Tuesday said hike in rates of petroleum products is necessary to arrest fiscal slippages.
The Reserve Bank of India on Friday cut short-term lending rate by 0.25 per cent.
The Reserve Bank, in Annual Monetary Policy Statement, has also asked banks to set up internal exposure limits for those non-banking financial companies who have gold loans portfolio of more than 50 per cent of the total financial assets.
Salaries of top management executives at private and foreign banks will have to be as per the Reserve Bank of India's guidelines from next fiscal, central bank said on Tuesday, while asking the lenders to start preparing for the new wage rules.
UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.
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