In top developments today, the Reserve Bank of India kept the repo rate unchanged for the 11th time in a row. The repo rate currently stands at 4 percent and the reverse repo rate has been maintained at 3.35 percent. Meanwhile, all adults above the age of 18 years, who have completed nine months after the administration of the second dose of the COVID-19 vaccine, will be eligible for the precaution dose from Sunday. Also, a resolution titled Suspension of the rights of membership of the Russian Federation in the Human Rights Council' was adopted with 93 votes in favour, 24 against and 58 abstentions, including by India.
BUSINESS/ECONOMY
RBI leaves repo rate unchanged; continues with 'accommodative' stance
Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) for 11th time in a row decided to maintain a status quo on the key policy rate. The central bank also decided to continue with “accommodative” stance. Read more
Deepak Parekh on HDFC twins merger: Possible to de-merge insurance cos; better lending to infra sector possible
The Housing Development Finance Corporation (HDFC) board, India's leading housing finance company, approved the firm's and its subsidiaries' merger with HDFC Bank this week. Speaking to CNBC-TV18, Deepak Parekh, chairman of HDFC said that he hopes to hear from RBI about this shortly as the merger needs the approval of the central bank. Read more
RBI raises inflation projection, lowers GDP forecast: Economists see upside risks in near-term
The RBI raised its consumer inflation projections for FY23 and lowered its estimates for GDP growth. However, economists see upside risks to inflation in the near-term. Read more
MARKET
March net MF equity inflow up 43.8% sequentially at Rs 28,252 crore; first outflow for hybrid funds in 14 months
Mutual funds that invest in equity saw a net inflow of Rs 28,252.4 crore in March, according to data from the Association of Mutual Funds in India (AMFI) released on Friday. That was up 43.8 percent compared with the previous month. Check details
10-year bond yield hits 7% as RBI announces monetary policy
The yield on the 10-year government bond crossed 7 percent as the Reserve Bank of India (RBI) raised the held-to-maturity (HTM) limit to 23 percent. The 10-year bond yield had already inched nearly 7 percent before the policy meet. Read more
NSE co-location scam: ED raids brokers' offices in Delhi, Gurugram
The Enforcement Directorate (ED) is conducting searches at brokers’ offices in Delhi and Gurugram in connection with the National Stock Exchange (NSE) co-location scam, sources told CNBC-TV18 on Friday. Read more
INDIA
COVID-19 precaution doses to be available for all adults from April 10 at private vaccination centres on payment
The Union Health Ministry on Friday announced that all those aged above 18 years will be eligible for the precaution doses of the COVID-19 vaccine from April 10, 2022. Read more
Serum to sell Covishield precautionary doses for Rs 600 each to pvt hospitals; free replacement for expired vaccines: CEO Adar Poonawalla
Serum Institute of India CEO Adar Poonawalla on Friday, welcoming the government's decision to open up precautionary COVID-19 doses to the sections of population aged 18 and above, said his company would sell Covishield to hospitals for Rs 600. "The end user will pay as per CoWIN price cap," Poonawalla told CNBC-TV18. Check details
Delhi cab, auto drivers protest against CNG price rise, demand fare revision; may strike from April 18
Opposing the steep hike in CNG prices, hundreds of cab and auto drivers staged a protest at Jantar Mantar on April 8 and demanded revision of fares and threatened to go on an indefinite strike from April 18 if their demands were not met. Read more
WORLD
Russia suspended from UN Human Rights Council, India abstains in UNGA vote
Russia was suspended from the UN Human Rights Council after the 193-member General Assembly on Thursday voted to adopt a resolution moved by the US that received 93 votes in favour and 58 abstentions, including by India. Read more
US lawmakers introduce bill for grant of automatic right to H-4 visa holders to work in America
US lawmakers have introduced a bill in the House of Representatives that aims at granting an automatic right to H-4 visa holders to work in the country, a move which will benefit the spouses of thousands of foreigners, including Indians, and also address the labour shortage affecting American businesses. Read more
Sri Lanka Crisis: Main opposition party to move no-confidence motion against government
Samagi Jana Balawegaya (SJB), Sri Lanka's main Opposition party, on Friday announced that it will move a no-confidence motion against the government of President Gotabaya Rajapaksa if it fails to take steps to address the concerns of the public facing hardships due to the worst economic crisis. Read more
YOU & I
Amarnath Yatra registration 2022 starts from April 11: Here's what you need to know
The Amarnath Yatra resumes this year after a break in 2020 and 2021 due to the COVID-19 pandemic. Registrations for the annual pilgrimage will begin on April 11. Here’s how to register for the Amarnath Yatra 2022. Check details
(Edited by : Priyanka Deshpande)
First Published: Apr 8, 2022 8:21 PM IST
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