The Reserve Bank of India kept interest rates unchanged for the fifth consecutive time and raised the GDP growth forecast to 7%. Other key business stories include RBI's inflation outlook, UPI payment limit hike, and onion export ban.
Photograph: ANI on Twitter.
New Delhi, Dec 8 (PTI) Following are the top business stories at 2110 hours:
DEL52 BIZ-LD RBI
RBI keeps interest rates unchanged, raises GDP growth forecast to 7 pc
Mumbai: The Reserve Bank of India on Friday expectedly left its key lending rates unchanged for the fifth consecutive time and predicted faster growth in the world's fastest-growing major economy amid an uncertain outlook on inflation ahead of elections.
Mumbai: The Reserve Bank on Friday retained the retail inflation projection for the current fiscal at 5.4 per cent but said inflation may see an uptick in November and December due to pressure on food prices.
DEL97 BIZ-RBI-DAS
No plans to loosen rates, no complacency on inflation fight: RBI governor
Mumbai: Governor Shaktikanta Das on Friday ruled out loosening interest rates, saying inflation remains top priority as a few months of good data should not lead to complacency, even as the Reserve Bank kept key policy rates unchanged for the fifth consecutive time.
DEL92 BIZ-LD-STOCKS
Stock markets hit new peaks as RBI upgrades growth forecast
Mumbai: Benchmark Sensex and Nifty rebounded to close at their new lifetime highs on Friday after the Reserve Bank raised the growth forecast for the current fiscal and kept policy rates unchanged, triggering heavy buying in banking and other rate-sensitive stocks.
DEL80 BIZ-RUPEE-CLOSE
Rupee falls 2 paise to close at 83.38 against US dollar
Mumbai: The rupee consolidated in a narrow range and settled lower by 2 paise to 83.38 (provisional) against the US dollar on Friday after the Reserve Bank of India kept the policy rate unchanged at 6.5 per cent.
DEL35 BIZ-RBI-UPI
UPI payment limit to hospitals, educational institutes raised to Rs 5 lakh: RBI
Mumbai: In a major decision, the RBI on Friday announced to raise the UPI payment limit to hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh presently and hiked the cap for e-mandates for recurring payments to Rs 1 lakh.
DEL99 BIZ-ETHANOL
Govt sees no impact on ethanol blending prog due to ban on using cane juice for making green fuel
New Delhi: The government on Friday asserted that it is committed to meeting the 20 per cent ethanol blending target by 2025-26 and said the ban on the use of sugarcane juice and sugar syrup has been imposed as a "temporary" step due to lack of clarity on cane output for the current season.
DEL50 BIZ-ONION-LD EXPORT
India bans onion exports till March next year
New Delhi: The government has banned exports of onion till March next year with a view to increase domestic availability and to keep prices in check.
DCM36 BIZ-FINMIN LD GROWTH
Upward revision in RBI's GDP growth forecast very well placed: Economic Affairs Secretary Ajay Seth
New Delhi: The upward revision in GDP growth forecast by the RBI is "very well placed" with high frequency indicators in October and November showing good momentum, Economic Affairs Secretary Ajay Seth said on Friday.
DCM58 BIZ-SEBI-SETTLEMENT
Ready to introduce same-day settlement of trades by March 2024: Sebi chief
New Delhi: Sebi chief Madhabi Puri Buch on Friday said the capital markets regulator is ready to introduce same-day settlement of trades on the stock exchanges by March 2024.
DEL62 BIZ-WHEAT-OMSS
Govt ready to offload extra 2.5 mln tons of FCI wheat under OMSS in Jan-Mar: Food Secy
New Delhi: The government is ready to offload additional 2.5 million tonnes of FCI wheat to bulk consumers during January-March 2024, under the Open Market Sale Scheme (OMSS), in order to boost domestic supply and check price rise, Food Secretary Sanjeev Chopra said on Friday.
DEL45 BIZ-RBI-FOREX
India's forex reserves surpasses USD 600 bn mark after nearly four months
Mumbai: India's foreign exchange reserves increased to USD 604 billion as on December 1, surpassing the USD 600 billion mark after a gap of about four months.
DEL79 BIZ-GOLD-PRICE
Gold climbs Rs 100; silver declines Rs 200
New Delhi: Gold climbed Rs 100 to Rs 63,050 per 10 grams in the national capital on Friday amid rise in precious metal prices in the overseas markets, according to HDFC Securities.
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