RBI decided not to hike the repo rate, and the policy statement clearly explains the rationale. RBI’s monetary policy in August comes against a backdrop of rising global inflation and central banks raising rates to keep it in check. Yet, RBI governor Sanjay Malhotra-led Monetary Policy Committee on Wednesday decided to keep the repo rate…
Plastic notes have several advantages, including stronger security features, a lower risk of counterfeiting. (Image for representative purpose only) India’s first plastic or polymer notes are expected to go into circulation at the start of the next financial year, RBI governor Sanjay Malhotra has said. Sharing an update on the pilot project at the post…
UPI: Government is also expected to prescribe an upper limit on the maximum MDR that can be charged. Will you have to pay for UPI payments going ahead? The government is expected to permit the levy of a Merchant Discount Rate (MDR) of 0.25% to 0.4% on UPI transactions above Rs 2,000 made to businesses,…
Gold appears to be transitioning from a sharp correction into a consolidation phase. Gold price prediction today: Recent gold price trends suggest that the worst of the downside may be behind us, says Vedika Narvekar, Research Analyst – Commodities & Currencies, Anand Rathi Shares and Stock Brokers.After a volatile July, gold finally showed signs of…
In an impressive first quarter, Bharti Airtel recorded a remarkable profit surge of 37.3%, driven by increased mobile tariffs and a robust influx of new customers. The company’s revenue also soared by 18.4%, showcasing strong growth across its India and Africa segments. Notably, Airtel’s average revenue per user jumped to Rs 264, indicating a favorable…
SpaceX reports first quarterly earnings, posts $7.8 billion in revenue SpaceX delivered a quarter that beat expectations on paper, but not enough to put investors completely at ease. The Elon Musk-led company reported a smaller-than-expected loss for the three months through June as revenue soared to $7.8 billion, powered by rapid growth in its Starlink…
Stock Market Today: Analysts say recent swings reflect technical adjustments, not weakening market fundamentals Market experts attributed the recent volatility primarily to the introduction of the Closing Auction Session rather than any deterioration in the broader economic outlook. According to Hariselvan Radhakrishnan, Founder and CEO of HST Wealth, benchmark indices experienced a phase of recalibration…
After two sessions of registering a fall, oil prices inched higher on Wednesday, as the crucial Strait of Hormuz continues to see disruption. Oil prices rose slightly on Wednesday after two days of steep losses, with markets closely watching efforts to end the US-Iran war and restore shipping through the Strait of Hormuz.Brent crude futures…
People walk past a store of Nykaa, an Indian beauty products retailer, at a mall in New Delhi BENGALURU: Beauty and fashion retailer Nykaa will acquire a 51% stake in premium skincare brand Aminu for up to Rs 32 crore. Meanwhile, its consolidated net profit more than tripled in the June quarter on the back…
MUMBAI: India’s payment industry has long been calling for higher subsidies or a controlled introduction of merchant discount rate (MDR) to recover transaction costs. The decision to allow MDR or higher value business payments will help to turn many business models sustainable and thereby increase competition in an industry that is currently a near duopoly…
