No change in repo rate, GDP projected at 6.5% for FY24

Chennai (IANS) The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) on Thursday unanimously decided not to revise the repo rate, the central bank's Governor Shaktikanta Das announced.

The MPC decided to keep the repo rate…

Pre-sanctioned credit lines at banks through UPI: RBI

Chennai (IANS) Expanding the scope of Unified Payments Interface (UPI), the Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said pre-sanctioned credit lines at banks through the former will be allowed.

"It is now proposed to…

IT spending in India projected to total $108.5 bn in 2023: Report

New Delhi (IANS) IT spending in India is projected to total $108.5 billion in 2023, while global IT spending is projected to total $4.6 trillion in 2023, an increase of 5.5 per cent from 2022, a new report showed on Thursday.

Despite continued…

Real estate players concerned at impact of repo rate hike on home loans and EMIs

Chennai (IANS) Expressing their concern at the possibility of 25 basis points (bps) hike in the repo rate by the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC), real estate players on Wednesday said the interest rate for end borrowers…

Govt plans to add 50 GW renewable energy capacity annually to achieve 500 GW target

New Delhi (IANS) The Centre has declared a plan to add 50 GW of renewable energy capacity annually for next five years to achieve the target of 500 GW by 2030.

Chairing a review meeting recently, Power and New and Renewable Energy Minister…

After delivering 25 bps hike in repo rate, RBI to change its stance

Chennai (IANS) The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) is expected to change its stance after taking a guard against inflation by delivering a 25 basis points (bps) hike in the repo rate on April 6, said economists.

World Bank cuts India's GDP growth to 6.3% for 2023-24

New Delhi (IANS) India's GDP is expected to slide down to 6.3 per cent in 2023-24 as against its earlier estimate of 6.6 per cent, mainly due to consumption falling owing to higher borrowing costs, according to a World Bank report released on…

Oil prices surge after surprise cuts in production

London (IANS) Oil prices have surged after several of the world's largest oil exporters announced surprise cuts in production.

The price of Brent crude oil was trading above $84 a barrel in Asia after jumping by more than $4, or 5 per cent,…

AI introduces new in-flight F&B menu for int'l flights, includes premium brands of spirits

New Delhi (IANS) Air India has introduced a refreshed in-flight food and beverages menu across cabins on all international flights.

Air India's First and Business Class customers who follow the vegan lifestyle will now be able to choose…

Gross direct tax collections for 2022-23 rise 20% to Rs 19.68L cr

New Delhi (IANS) Gross direct tax collections (provisional) for 2022-23 stand at Rs 19.68 lakh crore, registering a growth of 20.33 per cent, according to figures released by the Finance Ministry on Monday.

Direct tax collections (provisional)…