The pinnacle of a market economy is when the consumer feels like king. Never before have Indians had such a vast choice and for the icing on the cake, prices from kitchen goods to cars started falling in 2008.
Volatility in lending and deposit rates witnessed during the year is expected to end in 2009 with interest rates seen to be going down, due primarily to an easy monetary stance being pursued by the Reserve Bank of India to push growth.
Five major steel producers including SAIL, Tata Steel and Essar have decided to hold the price line for up to three months after an appeal by Prime Minister Manmohan Singh not to manipulate prices for short-term gains. India has said it will take measures to bring down steel prices, but would first wait to see if producers do it on their own. High steel prices are partly to blame for soaring inflation, which rose to 7.33 per cent for the week ended April 12.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
