Economic Update _9th October 2012

• IMF has revised the Global GDP Growth target of 2012 to 3.3% from its earlier estimate in July Month of 3.5% . This is slowest growth target after 2009

• IMF has reduced  India Growth rate to 4.9% for 2012 against its earlier estimate of 6.1%

• China Growth target has been reduced by IMF for 2012 to 7.8% from its earlier projection of 8%

• GBP has fallen to one Month low level against USD to 1.60 due to poor Growth outlook

• INR recorded its second largest single day fall due to Global concern . It lost 80 bps to 52.65