India's central bank decided to keep its key interest rates steady as a weak currency and the huge current account deficit limited room for another rate cut. At the mid-quarter review on Monday, the Reserve Bank of India, led by Governor Duvvuri Subbarao, maintained the repo rate at 7.25 percent and the reverse repo rate at 6.25 percent.
In a significant development for the Indian automotive components sector, diversified automotive major Mahindra & Mahindra Ltd. (M&M) on Saturday entered into a global alliance with Spain-based CIE Automotive for its automotive components business.
The multi-layered deal will see M&M acquiring a 13.5...