RBI MPC keeps repo rate unchanged in surprise move to pause and assess, but leaves scope for future action
RBI unexpectedly kept the repo rate unchanged on Thursday at 6.5 per cent, to take a pause and assess the impact of the series of policy rate hikes since May 2022. RBI Governor?Shaktikanta Das?on Thursday announced that the RBI MPC has unanimously decided to keep the policy repo rate unchanged at 6.5 percent. “The repo rate has been maintained so that the MPC can assess the progress made so far, while closely monitoring the domestic and global situations,” he said. This is against the Reuters poll that maintained that RBI will raise its main interest rate by 25 basis points on April 6 and then pause for the rest of the year.
SBI to PNB, bank-wise list of unclaimed deposits of PSBs with RBI and what it plans to do
In a development that will help people to trace their unclaimed deposits lying in banks, the Reserve Bank of India (RBI) has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits.
Public Sector Banks (PSBs), including SBI and PNB, transferred Rs 35,012 crore of unclaimed bank deposits to RBI at the end of February 2023. These deposits have been lying in banks unclaimed for 10 years or more.
Good news for homebuyers as RBI keeps repo rate unchanged
In its bi-monthly monetary policy review on Thursday, the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.50 per cent. After raising the repo rate by 250 basis points since May last year to bring inflation within its tolerance limit, the RBI has pressed the pause button on the repo rate hikes to check the progress the central bank has made so far, sending positive sentiments to the real estate industry and homebuyers.
Salaried employee? TDS to be deducted at New Tax Regime rates if you don’t opt out, says CBDT
CBDT clarification on TDS deduction for salaried employees: As New Tax Regime has become the default tax regime from FY 2023-24, it has become important for employees to intimate their choice of the tax regime to employers. In case an employee fails to intimate his/her choice, the employer may deduct TDS on salary under Section 192 as per New Tax Regime rates, according to the Central Board of Direct Taxes (CBDT)
Where is Bank Nifty headed after stocks cheer RBI’s unexpected repo rate pause? Check support, resistance
Bank Nifty outlook:?Banking indices surged on Thursday with Bank Nifty rising 0.52% to 41,214.05, Nifty Financial Services climbing 0.42% to 18,449.10, Nifty PSU Bank skyrocketing 1.30% to 3,774.05 and Nifty Private Bank advancing 0.24% to 20,879.35 after the Reserve Bank of India surprised markets by pausing a rate hike earlier than expected. The NSE Nifty 50 surpassed the crucial 17600 level and Sensex surged 181 points. Analysts believe that RBI’s decision may provide short-term relief to the banking sector and has given investors further cause to rejoice.
Maiden flight of LCA Trainer – a major milestone in India’s Aerospace industry
On April 5, 2023, the first ever series production standard Light Combat Aircraft (LCA) Trainer (LT 5201) manufactured by Hindustan Aeronautics (HAL) took to the skies for its maiden flight from the company’s airport.
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The aircraft completed a successful sortie of around 35 minutes, marking a major milestone in the LCA Tejas Programme. Behind the successful flight was a large team of engineers, designers, and technicians from HAL’s LCA team, supported by the Aeronautical Development Agency (ADA), Directorate General of Aeronautical Quality Assurance (DGAQA), and Centre for Military Airworthiness and Certification (CEMILAC).
IPO flood coming in FY24, after drought of public issues in Q4FY23; here are the upcoming IPOs this year
After an IPO drought that began January onwards, March saw three IPOs open for subscription. The trickle is to turn into a flood as a series of companies file their DHRPs and plan on opening for subscription for their respective public issues. Here’s a look at some of the companies that have filed their DRHPs with Sebi and are likely to launch?IPOs?in FY24.
PM Modi to flag off India’s 12th Vande Bharat Express, projects worth over Rs 11,300 crore on April 8 in Telangana
Prime Minister?Narendra Modi?will flag off the country’s 12th?Vande Bharat Express?train later this week. The train will be inaugurated from Secunderabad?Railway?Station at around 11:45 AM on April 08, 2023. This is going to be the second semi-high speed train for the two Telugu-speaking states.
Here’s a look at former US President Donald Trump’s net worth, swanky cars, mansions, lifestyle, and more
Former US President and businessman Donald Trump has been making the headlines lately as he made a rare appearance before a New York judge to face criminal charges, which could potentially disrupt the 2024 White House race. The charges stem from his involvement in a hush-money payment made to porn star Stormy Daniels during his presidency.
Trump, who is by far the richest-ever president of the United States of America, sits on a massive net worth and leads a luxurious life. In this article, let’s take a look at the former US president’s net worth, lifestyle and the luxuries he owns.
Nusli Wadia: A look at the Britannia Industries owner’s net worth, family, and lifestyle
Nusli Wadia, the chairman of the Wadia Group, a conglomerate that owns several prominent companies in India ranging from real estate, FMCG, aviation to textiles. He comes from a prominent Parsi family that has been involved in business for generations.
Under his leadership, the Wadia Group has expanded its operations and grown into a major business conglomerate in India. Some of the group’s well-known brands include Bombay Dyeing, Britannia Industries, and GoAir.
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