|
RBI raises repo rate by 0.25%, reverse repo rate by 0.5% | | Jul 28 |
The Reserve Bank of India (RBI) raised interest rates more forcefully than expected on Tuesday in the face of inflation that has held stubbornly above 10% for the past five months.
The RBI lifted the repo rate, at which it lends to banks, by 25 basis points to 5.75%, which was in line with expectations, but raised the reverse repo rate, at which it absorbs excess cash from the system, by 50 basis points to 4.50%. A CNBC-TV18 poll had predicted a 25 bps hike in the repo and reverse repo rate.
|
| |
|
Poker and the Financial Crisis
|
The financial crisis hitting the world has caused many people to be worried about the future. Jobs are scarcer, incomes are lower and investments are, for some, entirely wiped out. Where does all this financial doom and gloom leave the world of poker?
The Financial Crisis and Big Live Events
If last year's World Series of Poker is any indication, poker players have a fair amount of insulation against the economic crash. The 2008 World Series of Poker main event saw 6,844 players satellite in or put up the $10,000 entry fee, resulting in the second largest main event field of all time, and a first place prize of over nine million dollars.
In addition, World Series of Poker spinoffs, such as the World Series of Poker Circuit Tournaments and the World Series of Poker Europe, are seeing plenty of success, with full table after full table for every event. Poker is still going strong in other parts of the world as well, on the European Poker Tour, in Macau poker tournaments and on the Asian Poker Tour.
|
|
|
