MURTHY LOGS OUT OF BANGALORE AIRPORT
miffed NR Narayana Murthy, Chairman and Chief
Mentor, Infosys Technologies, has resigned
from the chairmanship of the Bangalore
International Airport Limited following a
remark made by former prime minister HD Deve
Deve Gowda had said that the Infosys boss had
made no contribution in the last five years to
bring the Bangalore International Airport
Limited to fruition.
The outbursts by Gowda and some Karnataka
ministers on the IT industries in the state,
and in particular on Infosys and Narayana
Murthy, is likely to make an adverse impact on
the investment growth in Karnataka, including
Mysore, which is identified as the second
growth centre in the state.
REDDY EYE ON INFLATION
As the quintessential central banker, he cannot shut his eyes to inflation, a scary loan growth, new uncertainties and hints of asset bubbles in real estate.
RBI chief YV Reddy, has tried to balance the different roles in his monetary policy statement.
Fearing inflation will cross the 5-5.5 per cent target, Reddy announced a 25 basis points hike in the reverse repo rate - a short interest rate at which the RBI takes money from banks — from 5 per cent to 5.25
“The FM had said he will wait to see what RBI does... now I will wait for his measures," Reddy said in a lighter vein.