From Wednesday, you will no longer have to pay any charge for withdrawing money from an ATM, irrespective of whether the machine is of
your bank or not.
A circular by the Reserve Bank of India comes into effect from Wednesday, making use of other bank ATMs
for cash withdrawals free.
Till now, one had to pay a minimum of Rs 20 per withdrawal from ATMs of other banks. In some cases, the charges were higher.
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The Indian economy is expected to grow by 6 per cent in the current fiscal, over a percentage point below the government estimates, and slip further during the next year, said the Economist Intelligence Unit, a research arm of UK-based financial magazine The Economist.
"Economic growth will significantly slow down to 5 per cent in the coming financial year (2009-10)", said Anjalika Bardalai, senior editor-Asia of the EIU, at an interactive session on the global economic crisis.
India is staring at deflation, or negative inflation, with the official inflation rate this week falling to 0.44% — the lowest since
1977. Food prices, however, continued to be high, with food grains roughly 9% costlier than a year ago, reinforcing a cruel paradox for consumers that they hear about zero inflation but face high prices when they buy their groceries.
Rail journeys in the country is set for a sea-change with the Railways undertaking trial runs to introduce internet facilities in trains, the Lok Sabha was informed on Thursday.
The trial runs are currently being conducted in a couple of trains like Mumbai-Ahmedabad and Chennai-Mysore Shatabdi express trains.
Read more »Planning Commission Deputy Chairperson Montek Singh Ahluwalia says the global financial crisis would slow down India's Gross Domestic Product (GDP) growth to just 6.5 per cent in the second half of this fiscal.
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