Assuring depositors that their money was safe in banks, Reserve Bank of India Governor D Subbarao said on Saturday the central bank was geared to inject more liquidity into the country's financial system and that there was no cause for anxiety. "Our banking system is stable and sound. There is no reason for any anxiety or uncertainty," he said while talking to reporters in Washington.

Noting that the talks between GM and Cerberus Capital Management, the private equity arm that owns Chrysler, began over a month ago, the New York Times said, 'negotiations are not certain to produce a deal.' Quoting two people close to the process, the newspaper said that chances of a merger were "50-50" as of Friday and

Referring to the current global meltdown, Chidambaram said, "There is a storm blowing in the world. We did not not create the storm. We are facing the spillover effects or the ripple effects of the storm. "The weekend is a good time for people to reflect. Firstly, those who have money. . . there have been wage increases for the government servants, and many have received Diwali bonuses", he said.

Small investors are despondent -- and angry at brokers for shorting the markets.

Too much symbolism and emotion is invested in making cars for the masses.

Though private airports did not spell out the exact sum owed by Kingfisher, in strict confidentiality one of the private airport operators confirmed that the airline was the biggest defaulter with them. Airport charges include landing, parking, terminal and route navigation levy. Though AAI has enforceable bank guarantees, private airport operators do not have this facility.

Infosys had bid at 600 pence a share for the UK company. Infosys will get the one per cent inducement fee that Axon has to pay to the party unable to close the deal.

ICICI Bank on Friday said its financial position remains strong and 'vested interests' were continuing to hammer down its share price on the bourses.Noting that there was no cause for panic among its depositors, ICICI Bank's joint managing director and chief financial officer Chanda Kochhar said, "There is nothing like run-on the bank and the company's financial situation continues to be very strong.

Nervous Indian investors joined a global selloff on Friday, with weak industrial output adding to the overall gloom. The gloom became all-pervasive after the Index of Industrial Production rose just 1.3 per cent in August against 10.9 per cent last August and after a revised 7.4 per cent gain in July.

It is possible to calm the waters, but it'll mean unlearning our post-Depression lessons