Mumbai, Aug 6 (IANS) The RBI on Wednesday retained its forecast for India’s GDP growth at 6.5 per cent for FY 2025-26, despite global uncertainties, as it expects strong rural demand on the back of a good monsoon and robust government expenditure on big ticket infrastructure projects to propel growth.RBI Governor Sanjay Malhotra said, “The above normal southwest monsoon, lower inflation, rising capacity utilization and congenial financial conditions continue to support domestic economic acti…

Mumbai, Aug 6 (IANS) Following the Reserve Bank of India’s (RBI) decision on Wednesday to maintain the repo rate at 5.50 per cent, the benchmark index Nifty 50 experienced a slight decline, falling below the 24,600 resistance level.The Nifty 50 was trading at 24,569 as of 10.54 am, after an intraday decline of 0.33 per cent, while the Sensex stood at 80,473, down 0.29 per cent. Prior to the Monetary Policy Committee’s decision, Nifty and Sensex were down 0.08 per cent and 0.07 per cent, respecti…

Mumbai, Aug 6 (IANS) The Reserve Bank of India (RBI) on Wednesday pegged India’s CPI inflation at 3.1 per cent for FY2025-26, as the steady progress of the monsoon and robust kharif sowing are expected to keep food prices in check.RBI Governor Sanjay Malhotra said, “The inflation outlook for 2025-26 has become more benign than expected in June. Large favourable base effects combined with steady progress of the southwest monsoon, healthy kharif sowing, adequate reservoir levels and comfortabl…

Mumbai, Aug 6 (IANS) RBI Governor Sanjay Malhotra announced on Wednesday that the monetary policy committee has decided to keep the repo rate unchanged at 5.5 per cent, while sticking to the “neutral” monetary policy stance.He said the decision was taken unanimously by the MPC after a detailed assessment of the macroeconomic situation and the growth-inflation dynamics.A neutral stance requires neither stimulation nor curbs on liquidity as it strikes a fine balance between controlling inflati…

New Delhi, Aug 6 (IANS) To encourage the concept of balanced and judicious use of fertilisers, the government has notified alternative fertilisers like organic fertilisers, bio-fertilisers, de-oiled cake, organic carbon enhancer and nano-fertiliser to encourage nutrient management.Soil Health and Fertility Scheme introduced in the year 2014 with objective to assist states in promoting Integrated Nutrient Management (INM) through judicious use of chemical fertilizers including secondary and micro…

Seoul, Aug 6 (IANS) HD Hyundai Heavy Industries, South Korea’s leading shipbuilder, said on Wednesday it has secured a maintenance, repair and overhaul (MRO) project for a U.S. Navy cargo ship.The company will carry out the MRO work on the USNS Alan Shepard (T-AKE-3), a 41,000-ton Lewis and Clark-class dry cargo vessel, at HD Hyundai Mipo Dockyard Co.’s shipyard in Ulsan, some 300 kilometers southeast of Seoul, the company said in a press release.The project is slated for completion and delivery…

Seoul, Aug 6 (IANS) SK Telecom, South Korea’s leading wireless service provider, said on Wednesday its second-quarter net profit plunged 76.2 per cent from a year earlier due to the fallout from a massive data breach that affected its entire 25 million user base.Net profit for the three months ended in June fell to 83.2 billion won ($60 million) from 350.2 billion won in the same period last year, the company said in a regulatory filing.The earnings fell short of market expectations. The average…

Mumbai, Aug 6 (IANS) The Indian equity benchmarks opened flat on Wednesday, ahead of the Reserve Bank of India (RBI) Monetary Policy Committee’s decision. Sensex gained 64 points or 0.08 per cent at 80,774 while Nifty edged up 16 points or 0.07 per cent to 24,665.Broad cap indices saw higher selling pressure. The Nifty midcap 100 index was down 0.54 per cent and Nifty smallcap 100 index slipped 0.64 per cent.”Today’s monetary policy decision is unlikely to influence the market significantly. T…

New Delhi, Aug 6 (IANS) The government has denied reports suggesting that it has permitted private sector participation in the exploration and mining of atomic minerals such as uranium and thorium from the country’s offshore regions by notifying the Offshore Areas Atomic Minerals Rules, 2025.The Ministry of Mines called such media reports “misleading and factually incorrect”.The Offshore Areas Atomic Minerals Operating Rights Rules, 2025 provide the procedure for the grant of operating rig…

New Delhi, Aug 5 (IANS) The National Bank for Agriculture and Rural Development (NABARD) and the Reserve Bank of India (RBI) have undertaken various interventions to promote financial literacy and awareness among the rural population, including microfinance borrowers, the Parliament was informed on Tuesday.The Centre for Financial Literacy (CFL) project has been initiated by the RBI since 2017 with an objective to adopt community-led, innovative, and participatory approaches to financial literac…