BUSINESS
RBI Holds Repo Rate Steady for Ninth Consecutive Meeting at 6.5 Percent
It had paused the rate increase cycle in April last year after six successive rate hikes aggregating 250 basis points since May 2022.
PM Jan Dhan and Basic Savings Accounts Exempt from Minimum Balance Requirements: FM Sitharaman
She made this statement while replying to a question in the Rajya Sabha on the recovery of about ₹8,500 crore as penalties by public sector banks during the last five years from their customers for not maintaining minimum balance.
India's Job Market Sees 11% Growth in July, Led by Retail and Telecom Sectors
According to a report by talent platform foundit, formerly called Monster APAC & ME, there is also a slight 1 per cent MoM decline in hiring compared to June. That apart, job market still continues to be on growing trend.
Indian Stock Market Shows Robust Resilience and Strong Investment Pipeline: Jefferies
Recent reports indicate that US employers created 114,000 jobs in July, missing the estimate 175,000. However, the jobless rate climbed to 4.3 percent, a near three-year high.
India Projected to Achieve 7.2% GDP Growth in 2024-25, Says Report
A host of steps proposed in the Union Budget for 2024-25 will lead to improved agricultural productivity, creation of job opportunities for the country's youth, and strong manufacturing, according to Deloitte's update on the economic outlook of India made in August. Supply-side demand will rise, inflationary pressures will be reduced at the same time, and consumer spending will be encouraged, especially in rural areas.
MTNL Misses Rs 422 Crore in Bank Loan Repayments
MTNL's detailed report indicates specific defaults: Rs 155.76 crore to Union Bank of India, Rs 140.37 crore to State Bank of India, Rs 40.33 crore to Bank of India, Rs 40.01 crore to Punjab & Sind Bank, Rs 41.54 crore to Punjab National Bank, and Rs 4.04 crore to UCO Bank.
Parsvnath Developers CEO Captured at Delhi Airport Following 60 km Pursuit
Deputy Commissioner of Police for Shahdara, Surendra Choudhary, said Jain was arrested at the IGI Airport by the STF Shahdara team on Saturday. The arrest comes immediately after Jain failed to attend a hearing at the National Consumer Disputes Redressal Commission.
US Recession Fears Trigger 10% Drop in Global Markets
According to South Korea's Yonhap news agency, trade in the local benchmark KOSPI 200 index was temporarily suspended for five minutes due to its sharp crash.
FPIs Invest Rs 54,727 Crore Boosted by Positive Growth Projections for FY25
An economic survey released last week before the Union Budget pegged the growth rate for the country at 6.5% to 7% for 2024-25.
Indian Startups Secure Over $1 Billion in Funding for July, Report Reveals
According to a report by Entrackr, for the month of July, Indian startups closed 126 funding deals worth $1.03 billion. Of this, 28 were growth or late-stage investments of $725 million, whereas 72 were early-stage investments pegged at $311 million. The details of 26 such early-stage deals were not disclosed.
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