in an interview with nhk in mumbai on wednesday rajan suggested the reserve bank of india may further hike its key interest rate after raising it for two straight months, but he stressed attention must be paid not to dampen economic activities. >> so, you know, one of the things you have to do to bring down inflation is slow down demand. you know, a hike in the interest rate helps do that. now, you have to be very careful because demand is no doubt greater than supply but alternately quite weak. so we're doing that very carefully to make sure we preserve whatever sort of momentum there is in the economy but at the same time contain inflation. >> india's gdp growth is losing momentum. it grew at around 5% last fiscal year. the governor stressed the need to promote financial deregulation. he says this would attract more foreign investments to boost the economy. >> i think that's the kind of growth that will emerge soon as the economy starts picking up. and i think that can be very strong. i mean, there's no reason why we can't go back to the 8% average we had for the last ten years. >>

>> nombre, quÉ pasÓ, yo no soy de los que se rajan, oye.amigo? >> este, sÍ, si, el profesor me felicitÓ, me dijo que era un trabajo muy limpio y preciso para alguien de primer semestre. >> oye, quÉ bueno, eso le va a dar un gusto enorme a tu papÁ. >> bueno. oye, mÁ, pues nos vemos al rato, ¿no? tengo que ir a estudiar con unos cuates en la noche, si. >> sÍ, hijo, te cuidas mucho, eh. >> mi vida, ¿quÉ crees? a tu hijo lo felicitaron por las lÁminas que entregÓ. >> ah, pues eso es una buena noticia, ¿no? yo sabÍa que la arquitectura era lo suyo, por eso le insistÍ tanto que estudiara esa carrera. >> ay y mira que yo no estaba de acuerdo en que lo presionaras tanto, eh, pero ahora estoy convencida de que ese es su camino. >> bueno, te dejo, mujer porque tengo mucho trabajo acumulado. cada vez me pesa mÁs hacer esto, no me gusta. >> viejo, ya van a venir tiempos mejores, ya lo verÁs. ♪ >> asÍ que otra vez estÁs estudiando en casa de un amigo, ¿no? >> pues ya ves. >> yo no sÉ cÓmo tus jefes no se dan cuenta. >> pues... todo el dÍa y nunca estÁn

rykiel was taken over by a hong kong based firm in keeping with the growing fondness for luxury and rajan meissen gael founder of an economic strategy consultancy firm says many european countries believe chinese investment poses a threat. a lot of european countries are very nervous about except seeing chinese cash who many of them and i think you find this in southern europe you find it in france you find it to some modest degree in germany also some countries think that they are threatened if china buys into their industrial base my own view is that that is entirely wrong my own view is that the industrial base of these countries will fail if you don't get the investment into them that will allow them to raise their productivity and to raise raise the profile of their products it's something comparable to that which afflicted the africans earlier they think that by selling out their assets they actually somehow undermine their capacity to have an economy that is viable in the future i think they're wrong but time will tell. now look at some other world news in brief riot police have ju

. >> but oncologist rajan krishnan says dan's drinks do a lot more than just taste good.p of coffee. what difference can it make? >> it's not so much the coffee. it is the coffee is a vehicle for the relationship. >> that looks awesome. >> it is. >> reporter: i saw what he meant. >> just a wonderful person. >> reporter: 78-year-old anna burell is one of his regulars. >> make me feel like somebody cares. >> reporter: i heard that same sentiment from virtually every one of his customers. they all want to pay him, completely unaware that they already have. >> that's all you need is just a smile. that's all you need and i have a memory bank full of wonderful smiles. >> reporter: and dan doesn't even see the half of them. i noticed that long after he's moved on to the next delivery, people are still celebrating his presence. whoever said coffee isn't good for you. steve hartman "on the road" in detroit. >> pelley: steve hartman, and that's the cbs evening news for tonight. for all of us at cbs news all around the world, i'm scott pelley. i'll see you sunday on "60 minutes." ca

rajan the businesses are investing like crazy to take advantage of all those great opportunities correct no they're not max because instead businesses are handing cash back to shareholders a tactic once reserved for executives who had run out of ideas in two thousand and eleven the value of america's share buybacks was equal to two point seven percent of g.d.p. in britain the figure was three point one percent. well you bring up a couple points to the important point here is that when the corporations report on their profits that is a number that is delivered to them by one of the big four accounting agencies to report as their profit but what we've discovered is that these big four accounting agencies like the banks on wall street like the hedge funds like the rating agencies are also committing massive fraud and they simply cook the books on the mandate of the c.e.o. who wants to report numbers that they feel are the best in terms of how to affect stock price except for jack welch of general electric very famously was a bookkeeper every single quarter they reported this earnings number

. >> chavo, los hombres no rajan. (risas). >> mira quiÉn lo dice!ste dos agujeros? >> no, un agujero ya lo tenÍa, es el agujero donde se mete la cabeza. (risas). >> yo nomÁs le hice el agujero donde estaba el chicle. por eso le pregunto si el agujero grande o el agujero chico. >> el agujero del chicle! >> ah, el grande. (risas). >> el grande entonces ¿te imaginas con quÉ sombrero me voy a presentar? >> pues dÍgale que es el sombrero de capulina. (risas). >> mira, toma tu capulina! (golpe). >> (llanto). >> no te doy otra no mÁs porque a ver, dime, ahora ¿con quÉ cara me voy a presentar ante el patrÓn? >> ¿tambiÉn le embarraron chicle en la cara? a ver. (grito). >> mamÁ! mama. >> ¿quÉ pasa tesoro? >> mira si hablas, te hago dos agujeros en los cachetes, ¿oÍste? (risas). >> a ver, a ver ¿quÉ sucede aquÍ? >> nada, nada, nada, que el chavo hizo un agujero en el sombrero de don ramÓn. >> y no era mÍo seÑor! ah, pero eso sÍ, eh. ahora tÚ me pagas el sombrero. >> ¿yo? >> claro que sÍ. tÚ le hiciste el agujero, ¿no? ahora tÚ me lo pagas. >> ¿cuÁnto cuesta el

stay tuned for our interview with rajan. >>> and chinese and indian economies are continue to go weaken. we'll get into the detail at 10:25 cet. also, as the head of the ethics committee lands in zurich to kick off an intgz into the bid process for the world cup tournament, we'll ask a leading sports lawyer if he can strike out corruption. that's at 10:40. >>> plus, mainland china can get its own dusting of magic when the third resort opens in 2015. the chairman of wald disney parks spoke exclusively to cnbc. hear what he said to say. >>> and it's day nine of the u.s. shutdown. we'll find out how as a culture businesses are dealing with the lack of reports and data. that's at 11:40 cet. >>> meanwhile, we are an hour and 15 minutes into the trading day. this is where we stand at the moment. 7-3, advancers being outpaced by decliners at the moment. ftse 100, down 71 points, the lowest close in three months following those six-week lows for the dow and one-month lows for the s&p overnight. we are up about the best levels of the session, but it will be stocky trading as we go. where are we

[applause] >> please give a warm welcome to indiecom's president of financial services, rajan nehr. [applause] ♪ ♪ >> thank you, secretary donovan. good morning, everyone. we are pleased to sponsor this morning's session and help kick off mba's anniversary and annual convention. we are a leading business process of consulting, learning and technology solutions provider to clients around the world. these firms access indiecom's outsourcing solutions and consulting services to improve profitability, gain time to market advantage and achieve immediate return on investment. in the mortgage business today, companies are especially challenged by greater regulatory compliance and quality control. they need ways to thrive in this new, tough, dynamic environment, and indiecom is helping mortgage companies do just that. our quality control solutions mitigate risk, adopt management solutions, enhance efficiencies, our mortgage learning solutions developed through the acquisition of mortgage-u helps manage clients, and our sourcing solutions create -- [inaudible] variable cost models for firms