RBI to conduct 14-day term repo auction for 610 billion rupees

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The big bang in Arun Jaitley's budget is that things will be done bottom up and it is more on execution rather than giving some grand proposals.

Chinese handset maker Xiaomi today unveiled its first handset, Mi 3, for the fiercely competitive Indian smartphone market, priced at Rs 14,999.

Jaitley announced a Rs 500 crore fund for farm price stabilization. He said the govt wanted agriculture to grow although weak rainfall was a concern.

Modi has more or less, achieved such a unity of command and control by getting his loyalist and confidant Amit Shah appointed as the BJP president.

As for his party, Jaitley is one of the principal trouble shooters, dispatched to various corners of the country to settle one dispute or the other.

In a marginal relief, Finance Minister Arun Jaitley increased the income tax exemption limit from Rs 2 lakh to Rs 2.5 lakh for citizens up to 60 yrs.

It is now the turn of Rajasthan’s camels to receive the benevolent concern of the state administration, alarmed by their fast declining population.

A new round of funding could see Flipkart being valued at $5 billion (Rs 30K crore) at least, almost a near-doubling of the company's valuation.

"The will be developed to accommodate the burgeoning number of people, otherwise, the existing cities would soon become unlivable," Jaitley said.

The govt said it will allocate Rs 500 crore for its 'Digital India' initiative to set up broadband network in villages and promote local softwares.

Congress wants to make the people aware of each failure of BJP government and how it has failed to fulfil its promises with a media offensive.

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By Reuters | 10 Jul, 2014, 04.00PM IST

The reversal of the 14-day term repo will take place on July 25, RBI said.

Reserve Bank of India said on Thursday it would conduct a 14-day term repo auction for 610 billion rupees ($10.22 billion) on Friday, in order to infuse liquidity into the banking system.

The reversal of the 14-day term repo will take place on July 25, RBI said.

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