Mumbai News

Murder charges against mafia don Abu Salem dropped

The prosecution Friday withdrew all charges against extradited mafia don Abu Salem in the case relating to the murder of Ajit Dewani, the former secretary of Bollywood actress Manisha Koirala.9:32 PM on October 10

Banks, analysts welcome cut in cash reserve ratio

Terming it as the 'need of the hour', bankers and analysts have welcomed the Reserve Bank if India's (RBI) move to inject Rs.600 billion ($15 billion) liquidity through a cut in the cash reserve ratio (CRR) of commercial banks.9:02 PM on October 10

RBI cuts cash reserve ratio by 150 basis points

India's central bank, the Reserve Bank of India (RBI) announced Friday that the cash reserve ratio (CRR) will be reduced by 150 basis points (bps) to 7.50 percent of net demand and time liabilities (NDTL) instead of 50 bps announced Oct 6, 2008, to inject Rs.600 billion liquidity into the system.9:00 PM on October 10

Aditya Pancholi's mother dead

There just doesn't seem to be an end to Aditya Pancholi's troubles. Earlier this week, his daughter Sana was at a rave party which the cops raided. Barely had Aditya disentangled himself from this problem, he lost his mother on Dussehra day, just two months after he lost his father.7:01 PM on October 10

Amitabh at 66 - still an inspiration

He was 15 when he came to Mumbai and like many others fell by the wayside of Bollywood's dream factory. It's been many years since but stardust still clouds Avinash Kumar's vision, his Bollywood ideal still intact and cynicism kept at bay thanks mainly to his 'god' Amitabh Bachchan who turns 66 Saturday.6:31 PM on October 10

ICICI plunges almost 27 percent during intra-day trading

India's largest private sector lender ICICI Bank shares suffered heavy hammering on the bourses Friday due to its overseas exposure.6:30 PM on October 10

No unusual activity in markets, says regulator

Securities and Exchange Board of India (Sebi) chairman C. B. Bhave Friday said there was 'no unusual' activity in the stock market, which plunged nearly 10 percent Friday.6:02 PM on October 10

Indian equities tank seven percent in day-long mayhem

As fears over the impact of the global financial crisis on the Indian economy escalated Friday, a key Indian equities index closed with one of its steepest losses in recent months, with interventions by the government, the central bank and the markets watchdog having little impact to lift the battered sentiments.6:00 PM on October 10

Bollywood stays complascent despite liquidity crunch

Could the current global market meltdown, directly or indirectly, affect Bollywood's finances and the production of its hugely mounted movies? This is a question not many in the film industry are asking at present because they are confident the worldwide liquidity crunch will have no direct impact on them.6:00 PM on October 10

Government to act sternly against private film fest organisers

The Information and Broadcasting Ministry has decided to take strict action against those who show movies at private film festivals and on TV channels without obtaining the prior exemption of mandatory certification.5:30 PM on October 10

Indian markets end with key index down 7 percent

A key Indian equities index ended Friday with a loss of over 800 points, or 7 percent, after interventions in tandem by the government, the central bank and the markets watchdog to cushion the impact of global financial crisis.5:00 PM on October 10

As meltdown rocks financial circles, Indian bank scrips nosedive

Banking sector stocks, led by the heavyweight ICICI Bank, skidded on the Bombay Stock Exchange (BSE) Friday following frantic offloading by overseas investors and nervous selling by retail investors.5:00 PM on October 10

Market mayhem continues despite liquidity injection

Indian equities markets Friday were witnessing an unprecedented bloodbath following panic selling on extreme nervousness despite announcement of a measure by the country's central bank to inject as much as Rs.600 billion liquidity into the system.4:33 PM on October 10

RBI cuts cash reserve ratio by 150 basis points

India's central bank, the Reserve Bank of India (RBI) announced Friday that the cash reserve ratio (CRR) will be reduced by 150 basis points (bps) to 7.50 percent of net demand and time liabilities (NDTL) instead of 50 bps announced Oct 6, 2008, to inject Rs.600 billion liquidity into the system.2:03 PM on October 10

Indian equities markets crash on opening

Indian equities markets crashed Friday morning, with the benchmark index of the Bombay Stock Exchange, the Sensex, going down over eight percent shortly after the opening bell.12:02 PM on October 10