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NEW DELHI: Amid worsening weather conditions and continuous rainfall in parts of Uttar Pradesh, all government and private schools from Classes 1 to 12 in Lucknow will remain closed on Monday, according to district magistrate Visakh G Iyer.Several parts of Varanasi were inundated on Monday following relentless downpours and a steady rise in the water level of the River Ganga. The river has been rising continuously since Saturday, triggering concerns of urban flooding.In response, authorities hav ...Read More >
MUMBAI, Aug 4 (Reuters) - India's central bank is expected to hold rates steady on Wednesday, but the odds of another cut have risen after the United States slapped steep tariffs on Indian exports last week, adding to pressure on growth even as inflation stays subdued. A large majority of economists, or 44 of 57, in a July 18-24 Reuters poll expect the Reserve Bank of India's monetary policy committee (MPC) to hold the repo rate at 5.50% on August 6. However, sentiment has shifted following th ...Read More >
MUMBAI (Reuters) -India's central bank is expected to hold rates steady on Wednesday, but the odds of another cut have risen after the United States slapped steep tariffs on Indian exports last week, adding to pressure on growth even as inflation stays subdued. A large majority of economists, or 44 of 57, in a July 18-24 Reuters poll expect the Reserve Bank of India's monetary policy committee (MPC) to hold the repo rate at 5.50% on August 6. However, sentiment has shifted following the tariff ...Read More >
Mumbai, Aug 3: The Reserve Bank of India is expected to maintain the key short-term lending rate, or repo rate, at 5.5% in its upcoming monetary policy review on Wednesday, despite economic headwinds and persistent uncertainty over US tariffs. According to leading economists, the central bank may opt for a wait-and-watch approach after having already delivered three consecutive rate cuts totalling 100 basis points. The Monetary Policy Committee (MPC), chaired by RBI Governor Sanjay Malhotra, wi ...Read More >
New Delhi, Aug 3 (SocialNews.XYZ) With the income tax return (ITR) filing date extended to September 15, taxpayers have more time to decide whether to choose the old or new tax regime. Salaried employees or pensioners without business income can change their tax regime at any time prior to filing their ITR every year by simply selecting the relevant option on the ITR-1 or ITR-2 form. With commercial or professional income, the regulations are stricter. Only once in your lifetime may you return ...Read More >
Mumbai, Aug 3 (PTI) The Reserve Bank is likely to hold the key short-term lending rate at 5.5 per cent in its upcoming bi-monthly monetary policy on Wednesday after three back-to-back reductions, notwithstanding the headwinds to near-term economic growth in the wake of elevated US tariff uncertainties and subdued inflation trends, according to experts. However, some experts opined that the central bank may go for another round of rate cuts as challenges to the growth outlook outweigh potential ...Read More >
In a striking development, Public Sector Banks (PSBs) have outperformed their Private Sector counterparts (PVBs) with a notable 11% credit growth compared to PVBs' 8.1% in the first quarter of the financial year, a CareEdge report reveals. Only three of the seven PSBs saw growth in net advances, driven by increased retail, agriculture, and MSME lending. The remaining four PSBs opted to prioritize profitability over loan expansion. Scheduled Commercial Banks (SCBs) reported a dip in Net Interest ...Read More >
New Delhi/Imphal, Aug 1 (SocialNews.XYZ) The National Investigation Agency (NIA) has made a second consecutive arrest in the 2024 killings in Manipur's Jiribam, central probe agency sources said on Friday. The NIA in a statement said that the national probe agency caught Lalrosang Hmar alias Rosang, a resident of Moinathol Village in southern Assam's Cachar district, from the Mizoram capital Aizawl on Thursday. The arrest came after the arrest of another key accused, Thanglienlal Hmar, by a jo ...Read More >
New Delhi, August 1: The Reserve Bank of India (RBI) is projected to keep repo rates unchanged in the upcoming Monetary Policy Committee (MPC) meeting on August 6, a report said on Friday. Amid global market uncertainties and tariff concerns, India's GDP is projected to be 7 per cent in the upcoming three quarters, higher than current estimates, according to the report from HSBC Global Investment Research. Analysts believe that the GDP deflator has too much WPI inflation in it. "Such a scenario ...Read More >
New Delhi, July 17 (SocialNews.XYZ) After a challenging first half marked by margin compression and falling loan yields, India's banking sector is set to turn the corner in the third quarter of FY26 (3QFY26), a report said on Thursday. Private and public sector banks are entering a transition phase, where lagged benefits of deposit repricing, systemic liquidity infusion, and improving asset quality start to lift earnings, Motilal Oswal Institutional Equities said in a report. As per the report ...Read More >
Telangana BJP president N. Ramchander Rao has slammed a ₹25 crore defamation notice on Deputy Chief Minister Mallu Bhatti Vikramarka and sought an unconditional public apology for his 'illegal' and 'unlawful' acts of making false imputations against him with regard to the suicide of University of Hyderabad (UoH) research scholar Rohith Vemula causing him 'serious agony' and 'Irreversible' damage. Mr. Vikramarka has been given three days to apologise or criminal action will be taken claiming dam ...Read More >
Mumbai: The future rate decisions of the central bank's Monetary Policy Committee could go either way, depending on the inflation outlook and economic growth, said governor Sanjay Malhotra, citing the regulator's "neutral" policy stance. Lower inflation and a slowdown in growth can both be equally important catalysts for potential rate cuts, the Reserve Bank of India governor said in an interview with CNBC TV18 on Tuesday. RBI cut the benchmark repo rate by 25 basis points each in February and ...Read More >
New Delhi, July 15 (SocialNews.XYZ) The Reserve Bank of India (RBI) will deliver a final 25 basis point rate cut in the December monetary policy committee (MPC) meeting, taking the repo rate to 5.25 per cent by the end of 2025, a report said on Tuesday. Considering the ease in inflation in recent months, the RBI may leave the repo rate unchanged in the next two MPCs. "We forecast a pause in the August and October meetings. However, we believe the RBI will deliver a final 25bp rate cut in the D ...Read More >
New Delhi [India], July 15 (ANI): Passenger Vehicles and Two-Wheelers sales are expected to experience an uplift, helped by the upcoming festive season typically serves as a demand driver, according to the recent report by the Society of Indian Automobile Manufacturers (SIAM). Additionally, the report reveals that an above-normal monsoon is likely to aid rural income recovery, which is expected to be a positive signal for two-wheelers and entry-level vehicles that rely heavily on rural demand. ...Read More >
New Delhi: Cooling prices offered a double dose of relief in June, with both retail and wholesale inflation easing sharply, signalling a broad-based tempering of cost pressures across the economy. Retail price inflation measured by the Consumer Price Index (CPI) came in at 2.1% in June, its slowest pace since January 2019, while wholesale price index-based inflation fell to a 21-month low in June, at -0.13%, marking the first negative reading since October 2023, according to provisional governm ...Read More >
New Delhi [India], July 14 (ANI): Continuing its downward trend, retail inflation in India hit a new over six-year low in June, in further respite to common people. According to the statistics ministry, the year-on-year inflation rate based on Consumer Price Index (CPI) for June was 2.10 per cent (provisional), a decline of 72 basis points in headline inflation from May 2025. It is the lowest year-on-year inflation since January 2019. Notably, the year-on-year inflation rate based on All India C ...Read More >
New Delhi [India], July 14 (ANI): Continuing its downward trend, retail inflation in India hit a new over six-year low in June, in further respite to common people. According to the statistics ministry, the year-on-year inflation rate based on Consumer Price Index (CPI) for June was 2.10 per cent (provisional), a decline of 72 basis points in headline inflation from May 2025. It is the lowest year-on-year inflation since January 2019. Notably, the year-on-year inflation rate based on All India ...Read More >
New Delhi [India], July 14 (ANI): Wholesale inflation (WPI) in India turned negative in June at (-) 0.13 per cent as against 0.39 per cent in May, official data from the Ministry of Commerce and Industry showed on Monday. In April 2023, the wholesale inflation went into negative territory. Similarly, in the initial days of COVID-19, in July 2020, the WPI was reported to be negative. The negative rate of inflation in June 2025 was primarily due to a decrease in prices of food articles, mineral ...Read More >
New Delhi, July 14 (SocialNews.XYZ) India's inflation based on the Wholesale Price Index (WPI) plummeted to the negative zone at 0.13 per cent in June for the first time this year as prices of food and fuels declined during the month, according to data released by the Commerce and Industry Ministry on Monday. WPI-based inflation has been steadily easing since March and hit a 14-month low of 0.39 per cent in May. There was a 0.26 per cent decline in prices of food items while the cost of fuels ...Read More >
New Delhi [India], July 14 (ANI): Wholesale inflation (WPI) in India turned negative in June at (-) 0.13 per cent as against 0.39 per cent in May, official data from the Ministry of Commerce and Industry showed on Monday. In April 2023, the wholesale inflation went into negative territory. Similarly, in the initial days of COVID-19, in July 2020, the WPI was reported to be negative. Also Read | 'Bade Achhe Lagte Hain' Season 4 Twist: Harshad Chopda's Rishabh To Break Hearts? Shivangi Joshi's B ...Read More >
New Delhi [India], July 13 (ANI): With food prices lagging seasonal trends and driving headline Consumer Price Index-based retail inflation below 4 per cent since February 2025, Union Bank of India has revised downwards its 2025-26 headline inflation forecast from 4 per cent to 3.6 per cent (largely aligned with the RBI' forecast of 3.7 per cent). The June retail inflation data is due early next week. In a report, the bank said June 2025 retail inflation will be at 2.3 per cent, with the worst ...Read More >
VMPL Bengaluru (Karnataka) [India], July 11: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Commenting on the company's performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, "As we enter our 50th ...Read More >
Bengaluru (Karnataka) [India], July 11: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India's most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Also Read | 'Aankhon Ki Gustaakhiyan' Movie Review: Shanaya Kapoor and Vikrant Massey's Blindfolded Romance Loses Sight of Its Emot ...Read More >
VMPL Bengaluru (Karnataka) [India], July 11: Puravankara Limited (NSE: PURVA | BSE: 532891), one of India most trusted and admired real estate developers, reported pre-sales of Rs 1,124 crore in Q1FY26, marking a 6 per cent year-on-year growth. The average price realisation improved by 9 per cent Y-o-Y, while customer collections for the quarter stood at Rs 857 crore. Commenting on the company performance, Ashish Puravankara, Managing Director, Puravankara Ltd., said, As we enter our 50th year ...Read More >
Mumbai: The Reserve Bank of India (RBI) will conduct a seven-day variable rate reverse repo (VRRR) operation for ₹2.5 lakh crore on Friday, a day when two previous such operations involving a total of nearly ₹2 lakh crore would be reversed and returned to the banking system. Friday is also the end of the fortnight, when banks need to report their cash reserve ratio compliance to the Reserve Bank of India (RBI). Bank treasury officials said that the aim of this exercise is to keep weighted avera ...Read More >
MUMBAI: RBI will conduct a record Rs 2.5-lakh-crore variable rate reverse repo (VRRR) auction on Friday as it seeks to absorb a persistent glut of liquidity in the banking system. This move follows a series of recent VRRR operations that have drained Rs 3 lakh crore, yet the money market surplus remains above Rs 3 lakh crore. By some estimates, the system is now awash with close to Rs 9 lakh crore in excess funds, drawing parallels with the quantitative easing seen in developed economies after t ...Read More >
The Bank of India (BoI) has revised its green deposit fixed deposit interest rates, effective July 7, 2025. The public sector bank offers a maximum of 7.20 per cent to senior citizens (60 years and above) and 7.35 per cent to super senior citizens (80 years and above) on this FD. After the Reserve Bank of India's (RBI) repo rate cut by 50 basis points (bps) in June 2025, several banks revised their FD rates. BoI also revised its FD rates on June 16, 2025, offering the highest rate of 6.70 per ce ...Read More >
Mumbai: A new report by the Boston Consulting Group (BCG) warns that Indian banks must prepare for a period of heightened interest rate volatility after more than a decade of relatively stable and downward-trending rates. The study, Interest Rate Sensitivity in Indian Banking, highlights that the impact of policy rate changes on bank performance is neither immediate nor uniform, and that credit growth is more dependent on borrower sentiment and lender confidence than on rates alone.Empirical evi ...Read More >
New Delhi [India], July 9 (ANI): As Indian savers increasingly explore mutual funds, pensions, and direct investments, among others, banks will need to leverage data science to understand depositor behaviour and tailor their products, a Boston Consulting Group (BCG) study suggests. BCG conducted a study titled, 'Interest Rate Sensitivity in Indian Banking: An Empirical Look and its Strategic Implications', determining the effect of rate changes--specifically the repo rate and treasury bill rate ...Read More >
New Delhi: The NBFC and insurance segments are expected to perform better in the second half of FY26, supported by a friendlier regulatory environment and continued growth push from both regulators and the government, according to a report by Emkay Research. The report noted that easing regulations in both the NBFC and insurance sectors, along with growth-focused measures by authorities, are setting the stage for a stronger performance in the second half of the fiscal year. It stated, "Easing ...Read More >
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