8 Indian supercomps in world's top 500 list
Hewlett Packard (HP), the world’s biggest maker of personal computers, on Friday said that a total of eight entries in the list of top
IT service megavendors I Putting IT to work500 supercomputers are from India and six out of the eight entries are from HP. Among vendors, HP leads the list with a 41.8 % share of the systems, followed by IBM (37%), Dell (4%) and Cray (4%). Supercomputer Eka, a HP-based system with a performance of 132.8 teraflops (floating point operations per second) has been ranked at number 13. Eka belongs to the Tata Group’s Computational Research Laboratories. The rankings are released twice a year by researchers at the Universities of Tennessee and Mannheim, Germany, and at NERSC Lawrence Berkeley National Laboratory. The HP-based Param cluster of the Centre for Development of Advanced Computing has been ranked 68th.
The other supercomputers by HP from India are for an industrial research company (334), a research agency (428), IIT-Madras (436) and Paprikaas Interactive Services (478). The two other supercomputers from India out of the eight in the list include IBM’s eServer Blue Gene Solution for Indian Institute Science ranked at 213 and a supercomputer for Digital Media Company (G) ranked at 481. IBM’s Roadrunner has been ranked as number one in the list. The system, only the second to break the petaflop barrier, posted a top performance of 1.059 petaflops. One petaflop represents one quadrillion floating point operations per second.
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06 December 2008
RBI cuts repo, reverse repo rates by 100 bps
RBI cuts repo, reverse repo rates by 100 bps
Markets may get a boost from RBI measures: Analysts
The Reserve Bank
of India on Saturday cut the repo rate - the rate at which RBI lends to banks - by 100 basis points to 6.5 per cent from 7.5 per cent and reverse repo - the rate at which banks park excess funds with RBI - by 100 basis points to 5 per cent from 6 per cent, effective from December 8.
However it has kept cash reserve ration (CRR) - the proportion of deposits banks must keep with the central bank - unchanged at 5.5 per cent. The 6.5 per cent repo rate is the lowest rate in 2-1/2 years, while the 5 per cent reverse repo rate is its lowest in more than three years.
The RBI has taken the steps to boost growth and shore up investor confidence amid signs of economic slowdown and in the wake of deadly attacks in Mumbai. "Industrial activity, particularly in the manufacturing and infrastructure sectors, is decelerating," RBI Governor Duvvuri Subbarao told a news conference. Subbarao said the central bank would closely monitor developments in global and domestic financial markets and would take swift and effective action as appropriate.
"The Reserve Bank's policy endeavour will be to minimise the negative impact of the crisis and to ensure an orderly adjustment," he said. The main lending rate has now been cut by 250 basis points since October 20, when the central bank made its first rate reduction in more than four years to shield the economy from the global financial crisis. Saturday's decision was the first change in the reverse repo rate since July 2006.
The cash reserve ratio, the proportion of deposits banks must keep with the central bank, was left unchanged at 5.5 per cent. Expectations of rate reductions have mounted ever since last week's attacks in Mumbai in which gunmen brought the business district to a standstill as they holed up in two luxury hotels and a Jewish centre, killing 171 people. The benchmark 10-year bond yield fell 8 basis points to 6.76 per cent on Friday ahead of the central bank's decision, which had been well flagged by government officials, and the rupee gained against the dollar. The government is also expected to announce fiscal measures to give impetus to the economy, which data show may be decelerating more rapidly than anticipated from an annual rate of 9 per cent in the fiscal year which ended last March. The exact timing of the government's expected steps is not known.
RBI cuts key rates by 100 basis points
RBI measures - Highlights
ICICI home loans of Rs 20-lakh and below cheaper by 1.5%
Source:ET,BL etc
Markets may get a boost from RBI measures: Analysts
The Reserve Bank
of India on Saturday cut the repo rate - the rate at which RBI lends to banks - by 100 basis points to 6.5 per cent from 7.5 per cent and reverse repo - the rate at which banks park excess funds with RBI - by 100 basis points to 5 per cent from 6 per cent, effective from December 8.
However it has kept cash reserve ration (CRR) - the proportion of deposits banks must keep with the central bank - unchanged at 5.5 per cent. The 6.5 per cent repo rate is the lowest rate in 2-1/2 years, while the 5 per cent reverse repo rate is its lowest in more than three years.
The RBI has taken the steps to boost growth and shore up investor confidence amid signs of economic slowdown and in the wake of deadly attacks in Mumbai. "Industrial activity, particularly in the manufacturing and infrastructure sectors, is decelerating," RBI Governor Duvvuri Subbarao told a news conference. Subbarao said the central bank would closely monitor developments in global and domestic financial markets and would take swift and effective action as appropriate.
"The Reserve Bank's policy endeavour will be to minimise the negative impact of the crisis and to ensure an orderly adjustment," he said. The main lending rate has now been cut by 250 basis points since October 20, when the central bank made its first rate reduction in more than four years to shield the economy from the global financial crisis. Saturday's decision was the first change in the reverse repo rate since July 2006.
The cash reserve ratio, the proportion of deposits banks must keep with the central bank, was left unchanged at 5.5 per cent. Expectations of rate reductions have mounted ever since last week's attacks in Mumbai in which gunmen brought the business district to a standstill as they holed up in two luxury hotels and a Jewish centre, killing 171 people. The benchmark 10-year bond yield fell 8 basis points to 6.76 per cent on Friday ahead of the central bank's decision, which had been well flagged by government officials, and the rupee gained against the dollar. The government is also expected to announce fiscal measures to give impetus to the economy, which data show may be decelerating more rapidly than anticipated from an annual rate of 9 per cent in the fiscal year which ended last March. The exact timing of the government's expected steps is not known.
RBI cuts key rates by 100 basis points
RBI measures - Highlights
ICICI home loans of Rs 20-lakh and below cheaper by 1.5%
Source:ET,BL etc
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