India Financial News

RBI) Friday maintained policy interest rates and its monetary stance for the seventh straight review meeting citing an uncertain food prices trajectory and the elbow room provided by robust economic growth, thus pushing back the start of a much-anticipated rate easing cycle while extending a status quo to at least 16 months. India is probably a positive outlier in the world hobbled with economic challenges, offering Mint Road the opportunity to further consolidate its war on inflation that has been restrained over the past few quarters from leaping. However, risks to price stability have not entirely receded into the background, said RBI Governor Shaktikanta Das, after the first policy review meeting in the new fiscal year.

Election Commission of India (ECI) has stepped up scrutiny of SMS and voice call campaigns by political parties, said people with knowledge of the matter. The poll panel is also in discussions with telcos to trace the trail of spending on these campaigns through telemarketers, aggregators and other participants in the value chain as it seeks to ensure that election expenditure limits aren't breached. Phone companies may need help to obtain all the information that's required. «We are trying to figure out how this could be implemented,» said one of the executives involved in the discussions. «The audit trail of all commercial messaging and calls can be tracked up to the last mile, thanks to the blockchain-based system that telecom companies have deployed for enterprise messaging. But for us to seek sensitive financial details of such deals from other participants, an official directive must come from ECI.» The telcos are conducting careful know-your-customer (KYC) verification of those who want to disseminate election-related information or advertisements.

air traffic controllers and pilots. When implemented, airspace over India and the adjoining oceanic areas covering over 2.8 million square nautical miles — now divided into four regions — will be controlled from Nagpur, senior officials said, asking not to be named. The Airports Authority of India (AAI) has floated a tender seeking to appoint a consultant for the initiative to obtain technology from global companies for the single air traffic management process. The full programme, including setting up infrastructure, training controllers and migration to a new system, will take up to eight years, according to the officials. Implementing the single airspace strategy will allow carriers to determine the most optimal routes, saving time and fuel. Planes can fly more consistently at higher altitudes, burning less fuel, and descend more efficiently and smoothly to land.

IPL team Royal Challengers Bengaluru (RCB), as per reports. According to the notice by the National Green Tribunal, it is based upon a media report that mentioned the Stadium getting treated water supply amid water crisis in the city. The NGT bench is headed by Justice Prakash Shrivastava, which, on April 1 this year, passed the direction to the Bangalore Water Supply and Sewerage Board to file a detailed report about the amount of and source of water being supplied to the cricket stadium.

SUVs) are wildly popular in India, with the segment now accounting for every second car sold. But going by the official definition of an SUV, such vehicles account for only about a 10th of the total sales volume. That's because just a third of the 47 models with SUV branding sold in the Indian market have an engine capacity of 1,500 cc and above, a length of 4 metres and more, and ground clearance of 170 mm and higher. Those are the criteria based on which a vehicle is defined as an SUV for the purpose of computing goods and services tax (GST). Total car sales rose to a record 4.23 million units in the last financial year, up 8.7% from the previous year, with the big-time shift to SUVs — which crossed the 50% market-share mark for the first time in FY24 — having ostensibly underscored the surge.

Lok Sabha polls, Chinese cyber and influence operatives, along with North Korean cyber agents may divert their efforts with these electoral processes, ToI reported quoting a Microsoft analysis. Starting from April 19 to June 1, India will cast their vote to choose 543 members of the Lower House of the Parliament.. The general election polls will be held in seven phases: April 19, April 26, May 7, May 13, May 20, May 25, and June 1, with Bihar, West Bengal, and Uttar Pradesh conducting voting across all seven stages. The results will be announced on June 4, 2024. «China will, at a minimum, create and amplify AI-generated content that benefits their positions in these high-profile elections. While the impact of such content in swaying audiences remains low, China’s increasing experimentation in augmenting memes, videos, and audio will continue—and may prove effective down the line,» the Microsoft analysis claimed.

Aiden Markram struck a brisk half-century as Sunrisers Hyderabad overcame some late jitters to beat Chennai Super Kings by six wickets in the Indian Premier League on Friday. The South African batsman hit four fours and a six in his 50-run knock to help Hyderabad overhaul Chennai's below-par total of 165-5 with 11 balls to spare at the packed Rajiv Gandhi International stadium. The victory lifted Hyderabad to fifth place in the 10-team competition with two wins from four games.

OIS) rates, the main financial market tool for gauging the direction of monetary policy, show that derivatives markets have broadly relinquished expectations of rate cuts in 2024 as the central bank continues with its unequivocal focus on bringing inflation down to its target of 4%, which is still some distance away. «The OIS market has moved towards pricing out all rate cuts in aggregate. There is a hope that maybe there could be nominal rate cuts towards the end of the calendar year, but it isn't really priced currently,» said Nitin Agarwal, head of trading at ANZ. «In any case, given the current domestic growth-inflation dynamics and the situation with US economic growth, our market does not expect a deep rate cut cycle,» he said.

India Inc. As television viewership for the first ten games of IPL jumped to a historic high of 35 crore, a clutch of organisations like Milagrow, Manipal Hospitals, Olyv, Lendbox, and Revfin are bringing the tournament's excitement to the workplace with more than just match screenings. This season of the Indian Premier League commenced on March 22 and will wrap up on May 26.

Hero MotoCorp, Bajaj Auto, TVS, Ather Energy, Ola Electric Mobility, and Kinetic Green have received approvals to sell two-wheelers and claim subsidy under the newly unveiled Electric Mobility Promotion Scheme (EMPS), 2024. According to government officials aware of the development, these prospective subsidies can be claimed for sales made in the upcoming four months. The move is aimed at addressing any industry concerns about financial support going away after the second leg of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME II) scheme that lapsed on March 31, 2024.

₹1 to ₹1.5 lakh for the entire certification process, depending on the size of the drone," Khare told Mint. This fee is the lowest in the industry, making NTH an attractive choice for manufacturers looking for affordable certification services, the secretary said. Currently, only a few private agencies are engaged in testing these sub-parts and they charge between ₹10 lakh and ₹14 lakh for the certification.

World markets today: US stocks surge on robust jobs data; Krispy Kreme, Shockwave Medical among top gainers on NYSE “Gold and silver closed on a mixed note, after both precious metals hit fresh lifetime highs in the domestic market. Silver fell after reaching its highest level since June 2021, as investors awaited the important US employment data for fresh indications regarding the Fed's monetary easing. Gold and silver are also getting support due to escalating tensions in the middle-east.

₹211 (compared to ₹208 in 3QFY24) driven by robust 7.2 million MBB subscriber addition and improving postpaid subscriber penetration. ‘’Bharti remains our top pick as we expect a structural uptrend in industry ARPU driven by future investment needs – the industry requires an ARPU of ₹275-305 in the next 3-4 years,'' said JM Financials.

IT services giant Cognizant Technology Solutions has deferred its annual salary hikes this year by four months. It now plans to roll them out to eligible employees from August 1, two people confirmed to ET. Last year, the Nasdaq-listed firm had given hikes to employees in April1.

United Nations, India on Friday abstained in the UN Human Rights Council on a resolution that called for an immediate ceasefire in Gaza and also demanded that Israel immediately lift its illegal blockade on the strip. The draft resolution on the 'Human rights situation in the Occupied Palestinian Territory, including East Jerusalem, and the obligation to ensure accountability and justice' was adopted by the Geneva-based Council with a vote of 28 in favour, 6 against and 13 abstentions. India abstained on the resolution, along with France, Japan, Netherlands, and Romania among others. Those voting against the resolution included Argentina, Bulgaria, Germany and the US.

Luxury Escape, Dhikuli, Jim Corbett resort in the heart of Jim Corbett. The company said it will also open more ZANA resorts in locations such as Vrindavan, Bhimtal and Goa 'very soon.' The company said that the resort is located just ten minutes away from the Jim Corbett National Park. ZANA — A Luxury Escape, Dhikuli, Jim Corbett has 57 rooms and cottages including a brand-signature all-day dining restaurant, and an outdoor swimming pool. The company said the hotel will have a soon to be launched kids' play area.

Chandrachud said here on Friday. Office-bearers and members of the bar should not forget while reacting to judicial decisions that they are officers of the court and not laypersons, he said. The CJI was speaking at the centenary year celebration of the High Court Bar Association of Nagpur. The judiciary has time and again risen to the occasion to assert its independence and non-partisanship, Justice Chandrachud said.

(This story originally appeared in on Apr 05, 2024)

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Rajnath Singh said that it will always remain India’s and that the time has come to remove Armed Forces Special Powers Act (AFSPA) from Jammu & Kashmir. “PoK was, is and will always remain an integral part of India. “Be assured that the people of Pakistan will themselves demand that they be with India. You must have seen that there were a few demonstrations there since they want to merge with India. After the abrogation of Article 370, normalcy has returned to Kashmir and development has been fast-tracked,” he said in an interview to Network 18 aired on Friday.

Hardik Pandya and Rohit Sharma hugged each other during the team-building exercise and both players discussed the plans for the upcoming match against Rishabh Pant-led DC. Mumbai Indians lost their opening match against Gujarat Titans by 6 runs, then came a high-scoring match against Sunrisers Hyderabad, which the Hardik Pandya-led side lost by 31 runs.