Top Headlines: RBI reverses Covid-era cuts, bond yields surge, and more
Photo: Bloomberg

The six-member Monetary Policy Committee (MPC) of the RBI hiked the policy repo rate by 50 basis points to 5.4 per cent — a three-year high — owing to inflation concern. The sovereign bond market witnessed a sharp sell-off on Friday as the RBI’s unequivocal commitment to bringing down inflation came as a surprise to the market. Read more on these in our top headlines.
RBI stays hawkish in fight against inflation; MPC reverses Covid-era cuts

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday hiked the policy repo rate by 50 basis points to 5.4 per cent — a three-year high — owing to inflation concern and to shield the exchange rate, which has come under pressure since war broke out in Europe in February. Read more

RBI monetary policy: Bond yields surge on fears of further rate hikes

The sovereign bond market witnessed a sharp sell-off on Friday as the RBI’s unequivocal commitment to bringing down inflation came as a surprise to the market, which had pinned its hopes on a softer approach by the central bank. The yield on the 10-year benchmark 6.54 per cent 2032 paper jumped 14 basis points to close at 7.30 per cent on Friday. Read more

India Inc's capex costs to shoot up as RBI hikes repo rate by 50 bps

Indian companies that are planning to invest thousands of crores of rupees in ramping up their capacities are staring at the prospect of higher costs of funds with the Reserve Bank of India (RBI) hiking the repo rate by 50 basis points on Friday. After a two-year lull due to the Covid-19 pandemic, many firms have accelerated their capital expenditure plans. Read more

Meity looks to tweak the PLI scheme for top IT hardware companies

The Ministry of Electronics and Information Technology (MeitY) is engaged in discussions with global IT hardware makers which are looking to move part of their production capacity from China to India. As part of these talks, MeitY is planning to rework the Production Linked Incentive (PLI) scheme for IT hardware to incorporate some of these companies’ requirements and make it relatively attractive for them. Read more

Need to address gap due to India's jobless growth, says Anand Mahindra

The re-alignment in the global supply chain and reduced dependence on China imply a huge opportunity for India as companies and countries will look for alternative supply sources, Anand G Mahindra, chairman of the Mahindra Group, said on Friday while addressing shareholders at the 76th Annual General Meeting of the company. Read more

NITI governing council meet: PM, CMs to discuss crop diversification & NEP

Urban governance with a focus on reforming the tax structure at the local level, crop diversification in major cereal-growing states, self-sufficiency in pulses and oilseeds, and the National Education policy are some key issues that are set to come up in the NITI Aayog Governing Council meeting on Sunday in New Delhi. Read more

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View more: Australia's leader says cutting Bali bomber's sentence will upset victims' families

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View more: Screaming babies can distract at comedy shows, which is why we set one up especially for new parents

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View more: Drought declared in parts of Wales after months of dry weather take toll

India logs 15,754 new COVID-19 cases, daily positivity rate at 3.47%

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View more: India logs 15,754 new COVID-19 cases, daily positivity rate at 3.47%

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