S P O T L I G H T

RBI decreases bank rate
Mumbai, March 1
Taking a cue from the Finance Minister Yashwant Sinha’s Budget cut in the small savings interest rates, the RBI reduced the bank rate from 7.5 per cent to 7 per cent effective from close of business hours today. This is the second time within a fortnight that the apex bank had resorted to a cut in the bank rate. On February 16, the RBI had reduced the bank rate from 8 per cent to 7.5 per cent while the CRR was cut from 8.5 per cent to 8 per cent in two stages. PTI

Vacates RS seat
New Delhi, March 1
Following his victory in Majitha byelection, Mr Raj Mohinder Singh has quit his Rajya Sabha seat. PTI