Daily Archives: November 6, 2013

HDFC Bank Hikes Base Rate-EMIs Set to Rise

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Followed by the Reserve Bank of India’s repo rateor  main lending rate hike, HDFC bank has increased its base rate -0.20 percent to 10 percent. The revised rate is in force from 2nd of this month and other banks will likely to hike base rates.

The hike in the base rate will result in in the rise of EMI (equated monthly installments). This could hit be a burden on the already struggling households with price hikes and infalation.

Destination Mars

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To touch the land in Mars PSLV-C25 took off from Sriharikota yesterday.  “I am happy to announce that the Mars orbiter mission first phase is a success,” said Indian Space Research Organization chairman K Radhakrishnan.

Critics are of the opinion that the mission is not involved any new technology and the 460 crores spend for the mission could have been spend on GSLV which will help ISRO enhance its commercial worth. ISRO chief K Radhakrishnan said that all the criticisms are baseless and it will help ISRO enhance its brand value and credibility. He also pointed out that Chandrayan -1 , which faced criticism , was the first and only mission which found moisture in Moon’s polar region.