RBI rate hike impact: What stock, bond market investors should know
Indian stock markets rose, the rupee strengthened and bond yields rose after the Reserve Bank of India hiked repo rate to pre-covid levels. The Reserve Bank of India (RBI) raised the key policy repo rate by 50 basis points while Governor Shaktikanta Das remained optimistic about domestic growth. He said that the domestic economic recovery is getting more broad-based despite a lot of uncertainties on the global front. Read More Here.
Loan EMIs set to rise as RBI delivers another rate hike
Loan instalments are set to rise for the third time in four months, following the Reserve Bank of India’s (RBI) Friday decision to hike the policy repo rate by another 50 basis points (bps) to 5.4%. Read More Here.
Russia supersedes Saudi Arabia to become second-biggest crude supplier to India: Report
Amid the rising fuel demand in India and high crude oil prices in global market, Russia has succeeded in beating OPEC+ ally Saudi Arabia to expand market share in one of the biggest crude importers, reported Bloomberg on 5 August. Read More Here.
Parliamentary panel suggests phasing out of coal imports
The parliamentary standing committee on energy has said that the union ministries of power and coal should ensure optimum utilization of locally-produced coal through effective collaboration so that imports can be phased out over time. Read More Here.
Nykaa buys digital lifestyle platform Little Black Book
Online fashion retailer Nykaa has agreed to acquire digital lifestyle guide Little Black Book for an undisclosed sum. Read More Here.
HDFC seals $1.1 billion social loan for affordable housing
HDFC on Friday announced the completion of the $1.1 billion Syndicated Social Loan Facility for financing affordable housing in India. The company called it the largest social loan globally and the first social ECB loan out of India. Notably, this is also the largest ECB loan deal from a Housing Finance Company/ private NBFC in the country. The HDFC loan has been priced competitively at a margin of 90 basis points over the Secured Overnight Financing Rate (SOFR). Read More Here.
India bids to sell Tejas aircrafts to Malaysia, says 6 other nations interested
India has replied to a tender released by Royal Malaysian Air Force offering to sell 18 light-combat aircraft (LCA) “Tejas” to Malaysia. Argentina, Australia, Egypt, the United States, Indonesia, and the Philippines are also interested in the single-engine jet as per Defense ministry’s statement. Read More Here.
Companies will get to consult with CCI to save tricky M&As
Companies are set to get more leeway in salvaging mergers and acquisitions (M&As) deals in consultation with the Competition Commission of India (CCI) under a new business-friendly transaction approval process that allows tweaking proposed transactions feared to hurt competition. Read More Here.
Vice-Presidential poll today: Numbers in favour of Jagdeep Dhankhar. 10 points you need to know
Polling for the vice presidential election is set to be held today on 6 August. Jagdeep Dhankhar (71) is a Jat leader from Rajasthan and was also former Governor of West Bengal while and Margaret Alva (80) is a Congress veteran and has served as Governor of Rajasthan. Read More Here.
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