Name: RBI to slash repo rate by 25 basis points, says Goldman Sachs
Uploaded: 2019-03-28T01:15:37.fff+05:30
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Goldman Sachs has said that the Reserve Bank of India is likely to cut repo rate by 25 basis points in its April policy. The US-based investment bank has cited three fa

RBI to slash repo rate by 25 basis points, says Goldman Sachs

Goldman Sachs has said that the Reserve Bank of India is likely to cut repo rate by 25 basis points in its April policy. The US-based investment bank has cited three factors - weakening of economic activity, benign inflation and soft global growth -- to justify its stand on the rate cut. The financial services firm also said that the central bank is likely to backtrack and re-introduce 'tightening' policy by 2020 as growth picks up and inflation breaches RBI's 4% target. 

Market regulator is looking to reduce promoter influence on independent directors by changing the way the latter are appointed. In a discussion paper floated by SEBI it

Market regulator is looking to reduce promoter influence on independent directors by changing the way the latter are appointed. In a discussion paper floated by SEBI it suggests&nbsp;an overhaul of&nbsp;appointment and removal as well as eligibility criteria&nbsp; &nbsp; SEBI is looking at&nbsp;putting&nbsp;in place a dual approval system for bringing on or removing independent directors where the majority and minority shareholders&nbsp;will have to give approval. SEBI is also proposing&nbsp;that&nbsp;appointment of key managerial personnel (KMP) and employees of promoter group companies as independent directors would require more checks and balances.&nbsp;

Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, according to the Hurun Global Rich list showed on Tuesday. Ma and his family had held t

Alibaba and Ant Group founder Jack Ma has lost the title of China's richest man, according to the Hurun Global Rich list showed on Tuesday. Ma and his family had held the top spot for China's richest in 2020 and 2019 but now trail in fourth place behind bottled water maker Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and e-commerce upstart Pinduoduo's Collin Huang. Ma's fall out of the top three comes "after China's regulators reined in Ant Group and Alibaba on anti-trust issues," the Hurun report said.

The Delhi government has removed the electric version of the Tata Nexon car from its subsidy scheme for electric vehicles till a committee looks into complaints that th

The Delhi government has removed the electric version of the Tata Nexon car from its subsidy scheme for electric vehicles till a committee looks into complaints that the model failed to meet the specified range on a single charge, officials said on Monday. Delhi govt has formed three-member committee, including a member from Tata&nbsp;Motors to verify claims of the complainants and assertions of Tata Motors in support of the mode. Delhi Transport Deportment has said that it has received complaints that the model doesn't&nbsp;meet the promised range of 312 km on a single charge of its battery. Tata&nbsp;Motors have even issued a show-cause notice last month.&nbsp;

As more states impose mandatory testing to travel domestic airlines have seen over 10% fall in bookings over just the last week. Tamil Nadu has imposed

As more states impose mandatory testing&nbsp;as a pre-requisite to travel , domestic airlines have seen over 10% fall in bookings over just the last week.&nbsp;&nbsp; &nbsp; Tamil Nadu has imposed restrictions on passengers joining the ranks of&nbsp;West Bengal Maharashtra and Karnataka. Reports indicate Delhi too will soon also mandate RT PCR tests for incoming passengers from certain states.&nbsp;&nbsp;
 Domestic air&nbsp;travel&nbsp;is limping back from a&nbsp;7 year&nbsp;low hit during the pandemic. January air traffic was 39% lower than last year in the same&nbsp;month&nbsp;

CNG, PNG Price in Delhi: With the petrol-diesel and LPG prices already skyrocketing, there is more bad news for common folks.

With the petrol-diesel and LPG prices already skyrocketing, there is more bad news for common folks. The prices of CNG used in vehicles as well as PNG (Piped Natural Gas) which is the domestic cooking fuel, have been hiked.
The new prices came into effect from 6 am on Tuesday. Indraprastha Gas Limited has said that it has increased the price of CNG by 70 paise/kg in Delhi-NCR.
The price of CNG in Delhi has now gone up to Rs 43.40 per kg. At the same time, CNG has reached Rs 49.08 per kg in Noida, Greater Noida and Ghaziabad. IGL has also increased the prices of PNG in Delhi-NCR by 91 paise. The new price of PNG in Delhi was Rs 28.41 per scm.
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Also Read: <a href="https://www.editorji.com/story/govt-looking-at-cutting-taxes-on-petrol-and-diesel-1614647965708" target="_blank" rel="noopener">Govt looking at cutting taxes on petrol and diesel</a>

Walmart backed Flipkart may be looking at a one-way ticket to buying a controlling stake in Cleartrip sources have told moneycontrol.com. F

&nbsp;Walmart backed Flipkart may be looking at a one-way ticket to buying a controlling stake in&nbsp;Cleartrip&nbsp;sources have told moneycontrol.com.&nbsp;&nbsp;
 Flipkart is looking at expanding its services and wants to leverage as a&nbsp;superapp&nbsp;as per reports.&nbsp;Cleartrip&nbsp;has seen pressure on&nbsp;it&rsquo;s&nbsp;books as airline travel continues to be under pressure due to the pandemic.&nbsp;&nbsp; &nbsp; Both Flipkart and&nbsp;Cleartrip&nbsp;have not denied/confirmed the talks.&nbsp;

Finance Ministry is in looking at the possibility of reducing taxes on petrol and diesel as prices as per reports. Taxes and duties account for over 60% of the petrol b

Finance Ministry is looking at the possibility of reducing taxes on petrol and diesel as per reports. Taxes and duties account for over 60% of the petrol bill at this point. Along with soaring crude oil&nbsp;prices ,&nbsp;hefty tax bill has pushed petrol prices to record highs across the country topping the Rs 100/litre&nbsp;mark.&nbsp;&nbsp; &nbsp; Reports quoted unnamed Finance Ministry sources as saying&nbsp;"We are discussing ways in which prices can be kept stable. We will be able to take a view of the issue by mid-March."&nbsp;&nbsp;
 GST collections have been above Rs 1 lakh crore for the 5th&nbsp;straight month in February has given some room to the govt to&nbsp;lower the fuel bill burden on the consumers.&nbsp;&nbsp;

In good news for Apple fans, all 270 Apple stores in the United States opened for business on Monday. This is the first time that all US stores are open since Apple sta

In good news for Apple fans, all 270 Apple stores in the United States opened for business on Monday. This is the first time that all US stores are open since Apple started closing stores in response to the Covid-19 pandemic last year in April. The reopening of Apple stores marks a milestone, as the United States begins to emerge from lockdowns as new cases fall and vaccines are distributed. However, not all Apple stores in the US are fully open for walk-in customers to go inside and browse; customers have to check Apple&rsquo;s website before heading to their store in case it is appointment-only or service is limited. All Apple Stores will strictly enforce Covid-19 safety guidelines, that include reduced occupancy and a mandatory mask requirement.

Customers of India’s largest bank SBI have been the target with a phishing scam where hackers have flooded them with suspicious text messages askin

Customers of India&rsquo;s largest bank SBI&nbsp;have been the target&nbsp;with a phishing scam where hackers have flooded them with suspicious text messages&nbsp;asking them to redeem their SBI credit points worth Rs 9,870.&nbsp; The link within the text messages redirects the user to a fake website where the user is asked to submit personal information along with sensitive financial details like card number, expiry date, CVV and&nbsp;Mpin&nbsp;in a 'State Bank of India Fill Your Details' form.&nbsp; After the form is submitted, the user is directed to a "thank you" page.&nbsp; CyberPeace&nbsp;Foundation, the think tank and&nbsp;Autobot&nbsp;Infosec Private Ltd carried out an investigation which revealed multiple details to prove that the entire thing is a phishing attack.&nbsp;"The domain name of the website can be traced to India, and the registrant state was found to be Tamil Nadu," the report mentioned&nbsp;

Airlines are all set to pay more for fuel as jet fuel prices were raised by a steep 6.5%. This is the third increase in jet fuel prices since February, prices were

Airlines are all set to pay more for fuel as jet fuel prices were raised by a steep 6.5%.&nbsp;This is the third increase in jet fuel prices since February, prices were hiked by 3.6% last on Feb 16.&nbsp; This could translate to higher ticket prices ahead of the busy summer season.&nbsp;
The move comes on the back of a steep&nbsp;uptick&nbsp;in global oil prices. Crude oil prices have been very volatile ahead of the OPEC meet on March 5, where markets are anticipating some supply easing to be done.&nbsp;&nbsp; &nbsp;

India’s largest pubic sector bank SBI has reduced home loan rate to 6.7 % and also is waving off processing fees. This offer is valid ti

&nbsp; India&rsquo;s largest&nbsp;pubic&nbsp;sector bank SBI has&nbsp;reduced home loan rate to 6.7 % and is also waving off processing fees. This offer is valid&nbsp;till March 31 as per a release from the bank.&nbsp;&nbsp; &nbsp; SBI Home loan interest rates are linked to CIBIL score and start from 6.70 percent for loans up to Rs. 75 lakh and 6.75 percent for loans above Rs. 75 lakhs, the bank said.&nbsp;
 Customers can also apply from the ease of their home via YONO App to get additional interest concession of 5 bps. On the eve of International Women&rsquo;s day, a special 5 bps concession is being made available to the women borrowers, the bank said.&nbsp;

Maruti Suzuki has seen domestic sales rise 11.8% YoY with a total of 1.52 lakh units sold in February. Utility vehicles Utility vehicles like

&nbsp; Maruti Suzuki has seen&nbsp;domestic sales rise&nbsp;11.8% YoY with a total of 1.52 lakh units sold in February. Utility vehicles like&nbsp;Ertiga, XL6 and Vitara&nbsp;Brezza&nbsp;have seen a&nbsp;strong sales&nbsp;in the month gone by leading the growth.&nbsp;
&nbsp; It is not just domestic&nbsp;growth ,&nbsp;Maruti Suzuki India has accomplished the landmark of exporting 20 lakh vehicle from India. In under 8 years Maruti Suzuki&rsquo;s exports have doubled from 10 lakh units to 20 lakh units.&nbsp;&nbsp;

Mukesh Ambani promoted Jio along with Reliance Retail has rolled out the ‘New JioPhone 2021’ offer which provides for a new phone along

Mukesh Ambani promoted&nbsp;Jio&nbsp;along with Reliance Retail has rolled out the &lsquo;New&nbsp;JioPhone&nbsp;2021&rsquo; offer which provides for a new phone along with three new plans. Under this scheme, new users&nbsp;will be provided a&nbsp;JioPhone&nbsp;device along with unlimited voice calls and data&nbsp;for one year at Rs1,499 and for two years at Rs1,999. Existing users can opt for&nbsp;the same unlimited service for one year at Rs749.&nbsp;This marks the return of the&nbsp;JioPhone, which it had&nbsp;it&rsquo;s&nbsp;debut in 2017.&nbsp;
Analysts believe&nbsp;Jio&rsquo;s new&nbsp;JioPhone&nbsp;2021 offer is&nbsp;also&nbsp;targeted to upgrade 2G user&nbsp;base.&nbsp;Jio is now in second place at 33.6% market share in active subscribers compared to the just ahead Airtel at 33.7%. Jio has seen a loss of subscribers in the past month&nbsp;which has strengthened&nbsp;Sunil Mittal backed Bharti Airtel into the&nbsp;numero&nbsp;uno spot.

Monday blues as early as 10 am for India’s largest stock exchange NSE as HDFC Securities alerted investor of a technical error in the system. The brokerage

Monday blues as early as 10 am for India&rsquo;s largest stock exchange NSE as HDFC Securities alerted investor of a technical error in the system.&nbsp;
 The brokerage house tweeted&nbsp;&ldquo; we&nbsp;have blocked trading in NSE cash due to a technical glitch,&nbsp;All&nbsp;other segments are working fine&rdquo; India&rsquo;s largest broker&nbsp;Zerodha&nbsp;also had&nbsp;clients&nbsp;complain at the same time of glitches in placing orders.&nbsp;BSE was quick to&nbsp;respond&nbsp;as&nbsp;Ashish Chauhan, CEO of BSE tweeted: "All market segments are working normal today.
 NSE however responded&nbsp;within&nbsp;half hour reassuring traders that&nbsp;&ldquo; All&nbsp;operations on the NSE platform were running smoothly and normal&rdquo;&nbsp;

LPG cylinder prices have seen a price hike again, this is the second time in just 4 days. LPG cylinder prices increased by Rs 25 effective immediately.

LPG cylinder prices have seen a price hike again, this is the second time in just 4 days.&nbsp;LPG cylinder prices increased by Rs 25 effective immediately.&nbsp;&nbsp; &nbsp; LPG prices have been raised 4 times in that last 4 weeks. Infact&nbsp;prices have soared to Rs 819/cyclinder&nbsp;in Delhi vs Rs&nbsp;Rs&nbsp;594/cylinder on Dec 1.&nbsp;The increase is applicable across all categories including&nbsp;subsidised&nbsp;and non-subsidised&nbsp;users.&nbsp;

AstraZeneca pharmaceutical company has sold its 7.7% stake in Moderna Inc for more than $1 billion after the US biotechnology company's shares soared on the back of its

British&ndash;Swedish&nbsp;pharma&nbsp;giant&nbsp;AstraZeneca&nbsp;has sold its 7.7% stake in drugmaker&nbsp;Moderna Inc for more than $1 billion after the US biotechnology company's shares soared on the back of its coronavirus vaccine breakthrough, The Times reported. However, it isn't clear over what period AstraZeneca sold its holding, the report added. The news of the stake sale comes just after Johnson &amp; Johnson&rsquo;s single-shot coronavirus vaccine received approval as the third vaccine for emergency use in the US.

The push to include petrol and petroleum products under the GST just got stronger. Chief Economic Advisor K.V. Subramanian has also voiced the backing

The push to include petrol and petroleum products under the GST&nbsp;just got stronger.&nbsp;
Chief Economic Advisor K.V. Subramanian has also voiced&nbsp; the backing to bring petroleum products under the ambit of the Goods and Services Tax.
This comes as the FM and Oil Minister both while reacting the rising duties and taxes on fuel said that better coordination&nbsp;is needed between state and centre on the issue and maybe inclusion into GST&nbsp;is a viable option.&nbsp;
The GST&nbsp;council is set to meet this month.
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The deadline to file GST returns for FY'20 has been extended to March 31 by the govt. This is the second extension by the govt, moving the calendar from Dec 2020 t

The deadline to file&nbsp;GST returns for FY'20 has been extended to March 31 by the govt. This is the second extension by the govt, moving the calendar from Dec 2020 to end of February and now to March end.&nbsp;&nbsp;
Members of the industry&nbsp;welcomed this move as&nbsp;many were struggling to meet this statutory deadline and had represented to the government for an extension.
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The Govt has again extended the deadline for filing declaration and making payments under ‘Vivad Se Vishwas’ scheme . The deadline for declaration has been

The Govt has extended the deadline for filing declaration and making payments under &lsquo;Vivad Se Vishwas&rsquo; scheme . The deadline for declaration has been pushed March 31, 2021, and the due date for payment without additional amount under the scheme has been&nbsp;extended to 30th April, 2021.
The Direct Tax Vivad se Vishwas Act, 2020 was implemented in March 2020 and 1.2 lakh cases amounting to&nbsp;Rs 97,000 cr&nbsp;have so far opted for the scheme.

Aviation regulator DGCA has extended the suspension of international commercial flights to and from India till March 31. In a circular posted the regulator also states

Aviation regulator DGCA has extended the suspension of international commercial flights to and from India till March 31.
In a circular posted the regulator also states that scheduled International flights may be allowed to fly in the given period but the decision will be made on a case to case basis. The allowance pertains to the 27 countries where India has bilateral air bubble agreements.
International commercial passenger flights were suspended on March 23, 2020 due to the pandemic.&nbsp;
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