Economists unsure when RBI will cut repo rate
Chennai, April 5 - With the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) deciding to retain the repo rate at 6.5 per cent, economists are not sure when the central bank would cut the rate.
EV sales in India to grow 66 pc this year riding on consumer interest, govt initiatives
New Delhi, April 5 - Driven by rising consumer interest, government initiatives and infrastructure development, India’s EV sales nearly doubled in 2023 and are likely to grow 66 per cent this year, a report showed on Friday.
Homegrown electronics maker MIVI invests Rs 200 cr in local manufacturing
New Delhi, April 5 - Homegrown manufacturer of audio electronics, MIVI, on Friday said that it invested Rs 200 crore in local manufacturing, as the company laid the foundation stone for its new state-of-the-art factory in Hyderabad.
India’s private space sector soared in last decade
New Delhi, April 5 - In 2012, India had just one registered startup in the space sector -- Dhruva Space from Hyderabad. The country now has close to 200 space startups.
Nifty gains for third consecutive week
Mumbai, April 5 - On the weekly charts, Nifty rose 0.84 per cent, up for the third consecutive week, said Deepak Jasani, Head of Retail Research, HDFC Securities.
Nifty closes flat after RBI keeps repo rate unchanged
Mumbai, April 5 - The Nifty recovered from intraday lower levels to close flat on Friday after the RBI kept the repo rate unchanged at 6.5 per cent for the seventh consecutive time, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal
RBI chief says banks, NBFCs in robust health but must stay alert
Mumbai, April 5 - RBI Governor Shaktikanta Das said on Friday that the latest data as at end-December 2023 shows that the key indicators of capital and asset quality of scheduled commercial banks continued to be healthy, and financial indicators of non-banking financial
DCM Limited to file appeal against Income Tax assessment order on alleged bogus purchases
New Delhi, April 5 - The Income Tax Department has passed an assessment order dated March 30, that the erstwhile Textile Business Undertaking (referred to as Demerged Undertaking) of DCM Limited, which was demerged into DCM Nouvelle Limited under a scheme of arrangement,
RBI sees price of India’s crude oil imports at $85 a barrel in 2024-25
Mumbai, April 5 - The RBI expects the price of the Indian basket of crude oil imports to be around $85 per barrel going ahead amid geopolitical tensions which have “imparted significant uncertainty” to the outlook.
NetApp empowers women-led deep tech startups in India
Bengaluru, April 5 - Three out of the five data-driven deep tech startups, graduated from the 12th cohort of accelerator programme 'NetApp Excellerator' are led by women founders, the data infrastructure company said on Friday.
Automaker Kia to invest $28 billion in future mobility solutions
Seoul, April 5 - Kia, South Korea's second-largest carmaker, said on Friday it will invest 38 trillion won ($28 billion) in future mobility solutions by 2028, while strengthening its gasoline hybrid vehicle lineup amid slowing sales of electric vehicles (EVs).
Range-bound rupee most stable among major currencies: RBI Governor
Mumbai, April 5, - The Indian rupee (INR) has remained largely range-bound as compared to both its emerging market peers and a few advanced economies during 2023-24 and was the most stable among major currencies during this period, RBI Governor Shaktikanta Das said
Redington, Zoho join hands to help Indian firms boost digital transformation
New Delhi, April 5 - Technology solutions provider Redington Limited on Friday announced a strategic partnership with tech firm Zoho Corporation, to help businesses in India accelerate their digital transformation.
Retail investors can lock in high yields across fixed income products, say analysts
New Delhi, April 5 - For retail investors, this is a great time to invest in fixed-income products and they can continue to enjoy and lock in high yields now across various products such as government bonds, corporate bonds, and fixed deposit (FD)
RBI’s decision on 3rd-party UPI apps to democratise wallet market: Experts
New Delhi, April 5 - Industry experts on Friday welcomed the move by the Reserve Bank of India (RBI) to permit the use of third-party UPI apps for making digital payments from prepaid payment instruments (PPI) wallets.
Krafton India CEO appointed Vice President of Indian Digital Gaming Society
New Delhi, April 5 - The Indian Digital Gaming Society (IDGS), a non-profit organisation, on Friday said that it appointed BGMI developer Krafton India CEO Sean Hyunil Sohn as its Vice President (VP).
RBI allows cash deposits in CDMs via UPI
Mumbai, April 5 - The RBI has decided to allow bank customers to deposit money in Cash Deposit Machines (CDMs) through UPI as part of its policy to enhance convenience in carrying out transactions.
RBI to review liquidity coverage ratio norms for banks
Mumbai, April 5 - The RBI has decided to undertake a comprehensive review of the liquidity coverage ratio (LCR) framework for banks to prevent a situation where a sudden withdrawal of money by a very large number of customers from their accounts could
RBI okays use of 3rd party UPI apps for payments from PPI wallets
Mumbai, April 5 - The RBI has decided to permit the use of third-party UPI apps for making UPI payments from PPI wallets to further enhance customer convenience and boost adoption of digital payments for small value transactions, RBI Governor Shaktikanta Das said
RBI to launch new NRI scheme for Sovereign Green Bonds in IFSC
Mumbai, April 5 - With a view to facilitating wider non-resident participation in Sovereign Green Bonds, a scheme for investment and trading in these Bonds in the IFSC will be notified shortly, RBI Governor Shaktikanta Das announced on Friday.