BUSINESS
RBI sucks out over Rs 1 trillion liquidity, banks to be affected
Post this announcement, Bank Nifty slipped into weakness.
VC firm Antler launches ONDC-focused venture platform with Nandan Nilekani
The platform, launched in partnership with Nandan Nilekani, Chairman, Infosys; T Koshy, CEO of ONDC; Dr Pramod Varma, Chief Architect of Aadhaar and India Stack; and Co-Founder, FIDE; and Sujith Nair, Co-founder, FIDE), will provide resources, an expert network, community and capital for founders building on ONDC.
Rate cut may not materialise before last quarter of FY24
“In our opinion, any possible rate cut may not materialize before the last quarter of FY24. The liquidity will be slightly tighter than expected in the near term due to the ICRR imposition and this may lead to some increase in short-term rates,” Chowdhury said.
Lenders to communicate to borrowers on loan EMI reset: RBI Governor
"The framework will require Regulated Entities to (i) clearly communicate with borrowers for resetting the tenor and/or EMI; (ii) provide options for switching to fixed rate loans or foreclosure of loans; (iii) disclose various charges incidental to the exercise of the options; and (iv) ensure proper communication of key information to borrowers."
Disney+Hotstar loses 12.5 mn subscribers as cricket becomes no-show
The April-June period is the third consecutive quarter in which Disney+Hotstar has lost a significant number of subscribers. International Channels revenues for the quarter decreased 20 per cent to $1.2 billion, and operating results decreased to a loss of $87 million from income of $166 million.
Sensex slumps after hawkish tone in RBI policy
The significant change is the upward revision in FY24 CPI inflation projection from 5.1 per cent to 5.4 per cent. This means the high policy rates will remain high for long and, therefore, a rate cut can be expected only in Q1 FY25, he said. From the market perspective, there are no positive or negative surprises in the policy, he added.
New platform for end-to-end frictionless credit delivery on the anvil: RBI
Announcing the decisions of the RBI’s Monetary Policy Committee (MPC) on Thursday, Das said the new platform will be rolled out in a calibrated manner. He said the central bank along with RBIH started a pilot project in September 2022 for frictionless credit delivery through end-to-end digital processes, starting with Kisan Credit Card (KCC) loans.
US announces new bans on investments in China, Beijing disappointed
President Biden signed an executive order late on Wednesday, banning US investments in certain key tech sectors of China. The new rules would place restrictions on investments by US private equity and venture capital firms, as well as joint ventures, in Chinese artificial intelligence, quantum computing and semiconductors, reports CNN.
RBI retains repo rate at 6.5%, GDP projected at 6.5%
Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Thursday that the committee unanimously decided to keep the repo rate at 6.5 per cent. Das said taking into account the economic factors, the MPC has predicted GDP growth at 6.5 per cent in FY24.
BGMI maker Krafton pledges $150 mn investment in India
“We firmly believe in India’s potential as a key player in the global gaming and technology industry, and our commitment to invest an additional $150 million over the next two to three years reflects our dedication to fueling this growth,” said Sean Hyunil Sohn, CEO, Krafton India.
Don't Miss
Advertisement