RBI Monetary Policy: Interest rates unchanged for the 7th time; Robert Vadra hints at contesting from Amethi; India's Booming Biofuel Industry & more
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RBI Monetary Policy 2024: Interest rates unchanged for the seventh time in a row
The Reserve Bank of India has left its key lending rate (repo rate) unchanged at 6.5%, in-line with market watchers and economists' expectations. This was the seventh straight instance of the policy rates being left unchanged by India's central bank.
A CNBC-TV18 poll had expected the Monetary Policy Committee to maintain a status quo.The decision to keep the rates unchanged was taken unanimously. The Monetary Policy Committee also decided by a 5:1 majority to remain focused on "withdrawal of accommodation."The Monetary Policy Committee also left the Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF) rates unchanged at 6.75% and 6.25% respectively.
IMF head Kristalina Georgieva poised for a second term as nominations close
Kristalina Georgieva is poised to win a second five-year term running the International Monetary Fund as the nomination period closed on Wednesday with no other candidates put forward to challenge her.
The IMF’s 24-member board, which chooses the managing director, will now hold meetings with Georgieva and aim to complete the process by the end of April, the fund said in a statement on Thursday.A Bulgarian economist whose term started in 2019 and runs through the end of September, Georgieva got the backing of European Union finance ministers last month, including France and Germany. The leader of the Washington-based fund has always been a European national picked by European nations, a post-World War II understanding with the US, which in turn chooses the president of the World Bank.
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Disney to start cracking down on password-sharing from June, CEO Bob Iger says
Walt Disney's streaming service will start cracking down on password-sharing from June, CEO Bob Iger said on Thursday, as the entertainment conglomerate looks to boost subscriber growth and make the business profitable.
Iger also signaled a need for consolidation in the streaming industry and said Disney was "eventually" looking at double-digit margins for the business, in a wide-ranging interview with CNBC.Streaming rival Netflix's password-sharing crackdown had helped it add nearly 22 million subscribers in the second half of 2023 and shatter Wall Street expectations.
Apple cut at least 600 workers when car, screen projects stopped
Apple Inc. laid off more than 600 employees in California as part of the decisions to end its car and smartwatch display projects, according to filings with the California Employment Development Department.
The Cupertino, California-based company filed eight separate reports to the state to comply with the Worker Adjustment and Retraining Notification, or WARN program. Companies must file a report to the state agency for each California address that includes employees affected by a layoff.
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Robert Vadra hints at contesting from Amethi, says people 'upset' with Smriti Irani
Robert Vadra, husband of Congress General Secretary Priyanka Gandhi Vadra, has hinted at joining active politics. He said that the people of Amethi expect him to represent their constituency in the Parliament.
In an interview to ANI, Vadra said, "People of Amethi feel that they made a mistake by electing Smriti Irani and want a Gandhi family member to return. In fact, they even expect me to represent their constituency if I decide to become a Member of Parliament," Vadra said.
Over 99% independent candidates lost deposits since 1991
As India heads to the 18th general election, data over the years show voters’ trust in independent candidates has been diminishing, with more than 99% of independent candidates losing their deposits since 1991. Data compiled by the Election Commission of India show that since independence, even as the number of independent candidates has remained high, numbers of those winning polls have come down from over 6% in 1951 and 8% in 1957, to around 0.11% in 2019.
An independent candidate is one who is not aligned with any recognised party. In the first elections of 1951-52, 533 independent candidates had contested, and 37 of them won, around 6.90%.
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Sustainable agriculture — here's a call for evolution in education
The pursuit of a more sustainable food and agricultural system to serve a growing global population while safeguarding our planet’s finite resources is an increasingly urgent imperative — and so, therefore, is empowering the farmers who play a critical role in shaping that system.?
In India, while the agricultural export sector is projected to reach US$100 billion by 2030, the industry faces an unprecedented challenge — preserving the environment in which it operates. With growing consumer demand for ethically sourced products and increasingly stringent environmental standards in international markets, sustainable farming practices are now, more than ever, directly impacting economic and social affairs.?
NOTA is fairly known and familiar to the electorate: Bombay HC?
?Case 1: NOTA is fairly well known to the electorate?
The Bombay High Court recently dismissed a PIL — Suhas Manohar Wankhede vs Election Commission of India & Others — praying for order to Election Commission of India (ECI) to sufficiently publicise the 'None of the Above (NOTA)' option available on Electronic Voting Machines (EVM) and the EVM itself.?The Court pointed out that the ECI has already explained this vividly in its manual Systematic Voters Education and Electoral Participation (SVEEP).
The petitioner also wanted the ECI to appoint a brand ambassador to publicise NOTA. The High Court, apparently, did not give much credence to this plea.?
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India's Booming Biofuel Industry | Suhas Baxi, BiofuelCircle | Climate Clock
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Sachin Bansal-led fintech startup Navi may raise $2 billion in maiden external funding
Flipkart co-founder Sachin Bansal is in talks to raise funds for his new fintech startup, Navi Technologies. Bansal is in talks with investors to raise $2 billion, as told by three sources to TechCrunch. Meanwhile, another source hinted that Bansal is looking to raise between $200-400 million.
Until now, Bansal has largely self-funded Navi and this would be the startup’s first large outside fundraise since it was founded in 2018.
However, the sources cautioned that talks have yet to concretise into a deal, so the terms and Bansal’s appetite for outside funding may change.
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