The Reserve Bank of India (RBI) on Friday announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakhs to Rs 4 lakhs for urban co-operative banks (UCB) who have met the overall PSL target and sub targets as on March 31, 2023.
Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Friday that the committee unanimously decided to keep the repo rate at 6.5 per cent.
The Cricket World Cup being held in India will impact the country’s gross domestic product (GDP) with an additional output of about Rs 18,000-22,000 crore and the gross value added (GVA) will be about Rs 7,000-8,000 crore and will have a very minimal impact on the inflation, said a report by two economists of Bank of Baroda.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is expected to retain the repo rate at the current level though a reduction in the rate in the near future is preferable, said officials in the real estate and financial services sectors.
Out of the Rs 1,62,712 crore GST collections for September, CGST was Rs 29,818 crore, SGST was Rs 37,657 crore, IGST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore (including Rs 881 crore collected on import of goods).
In a huge setback for millions of consumers, oil marketing companies (OMCs) have hiked the prices of commercial LPG cylinders by Rs 209, with effect from Sunday, according to industry sources.
Another student in Rajasthan's Kota committed suicide, taking the total number of students who have ended their lives this year to 26. Mohammad Tanveer, the 20-year-old student ended his life by hanging himself in his room on Wednesday night.
The league has always been a spectacle of cricket, business and entertainment. And this year was no exception, as the league continued to captivate audiences, both on television and digital platforms, the report said.
With rising crude oil prices in the international market pushing up the demand for dollars, the Indian rupee has slumped to a record low of 83.2675 vis-à-vis the U.S. dollar. Going ahead much will depend on oil prices in global markets which are now hovering around the $95 per barrel mark.
The greenback was heading for its eighth-straight week of gains against a basket of other major currencies on Friday, its best run since winter 2014-2015. It has gained 5 per cent since mid-July, CNN reported,
Ten students of IIT-Mandi in Himachal Pradesh have been suspended from academics and hostel till December for ragging freshers, the institute said on Wednesday.
Nifty opened higher and held on to steady gains through Monday barring a small downmove in the morning. At close, Nifty was up 0.48 per cent or 93.5 points at 19,528.8, Deepak Jasani, Head of Retail Research, HDFC Securities, said
China secured a berth in the semifinals at the Asian Women's Volleyball Championship with a straight-sets win over India in Nakhon Ratchasima, Thailand.
China secured a berth in the semifinals at the Asian Women's Volleyball Championship with a straight-sets win over India in Nakhon Ratchasima, Thailand.
During the month, revenue from import of goods was 3 per cent higher and from domestic transactions (including import of services) are 14 per cent higher than the revenues from these sources during the same month last year.
India's economic growth stood at 7.8 per cent in the first quarter (April-June) of the current fiscal, a steep fall from 13.1 per cent GDP growth recorded in the corresponding period of last year, according to data released by the ministry of statistics and programme implementation on Thursday.
The production of coal, steel, natural gas, cement, electricity, refinery products, fertilisers and crude oil increased in July 2023 over the corresponding month of last year.
Heavyweight stocks were muted compared to the sector-wise and mid and smallcap upsides on Tuesday, said Vinod Nair, Head of Research at Geojit Financial Services.
As of now, the price of domestic LPG, which is used in the kitchen for cooking purposes, is Rs 1,103 per 14.2-kg cylinder in New Delhi. This will now come down by Rs 200 per cylinder.
Ending the unicorn drought in India amid the ongoing funding winter, online grocery company Zepto on Friday announced it has raised $200 million in its Series E round, valuing the company at $1.4 billion.
"Banks remain well-positioned to capitalize on opportunities in the Indian economy and banking industry," said Tusharika Aggarwal, a dividend forecasting research analyst at S&P Global Market Intelligence.
Nifty overcame early volatility to end higher for the third session on Wednesday. At close, Nifty was up 0.25 per cent or 47.6 points at 19,444, while the Sensex rose 213 points to settle at 65,433.30.
However, the trajectory could swiftly change. The moment the US Federal Reserve hints at a potential pause in its rate hikes or even the possibility of an interest rate cut, gold prices are likely to surge, the analyst said.
A sharp spike in US bond yields is impacting capital flows to emerging markets like India, says V. K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Investor sentiment remains subdued due to the high volatility of the global currency market, leading to a high depreciation of EM currencies, which affects the performance of equities, says Vinod Nair, Head of Research at Geojit Financial services.
