India's economic growth slowed to 7 per cent in the three months through June from 7.5 per cent in the previous quarter, government data showed on Monday. Analysts polled by Reuters had forecast annual growth of 7.4 per cent in the quarter. T

The Reserve Bank of India (RBI) on Monday identified state-owned SBI and private sector ICICI Bank as systemically important banks and subjected them to higher levels of supervision to prevent disruption to financial services in event of any failure.

Oil prices fell 3 per cent in Asian trade on Tuesday, with investors covering short positions and taking profits after Brent and US crude soared more than 8 per cent in the previous session. Both Brent and US crude prices dropped nearly $2 a barrel

Hinting at a fourth interest rate cut this year, Reserve Bank of India (RBI) Governor Raghuram Rajan has said the central bank isn’t done with lowering rates. The primary problem in the global economy, he added, was slowing economic growth.