Interest rates to remain unchanged as RBI keeps repo rate at 4%
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Your EMI rates will remain the same as the Reserve Bank of India has kept the repo rate unchanged at 4%, maintaining an accommodative stance. The reverse repo rate stands at 3.35%.
Making the announcement, RBI governor Shaktikant Das informed that the projection of real GDP growth for 2021-22 is retained at 10.5%.
"The recent surge in COVID19 cases adds uncertainty to the domestic growth outlook amid tightening of restrictions by some state governments," he added.
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The Ministry of Steel has granted approval to ArcelorMittal Nippon Steel India (AMNS India) for establishing an iron ore slurry pipeline from Chhattisgarh to Andhra Pradesh via Odisha, clearing the way for implementation of the company’s proposed 17 million tonne per annum (MTPA) integrated steel plant at Anakapalle in Andhra Pradesh.
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The government is planning to set up the proposed artificial intelligence (AI) regulatory body, the Artificial Intelligence Governance Group (AIGG) and the Technology Policy and Ethics Committee (TPEC) by December to create a structured and unified approach to AI regulation, safety, and innovation in India, according to a report by The Economic Times.
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Delhi airport, the busiest in India, plunged into chaos on Friday after a technical glitch in the air traffic control (ATC) system delayed more than 800 domestic and international flights, sources said.
There were long queues near boarding gates, according to sources, and hundreds of passengers were waiting inside the airport terminals for flight updates.
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Singapore Telecommunications (Singtel) said on Friday it had sold a 0.8 per cent stake worth S$1.5 billion ($1.16 billion) in India's Bharti Airtel, as part of the Southeast Asian telecom company's ongoing asset restructuring strategy.
Singtel's unit Pastel sold 51 million shares of Bharti Airtel, India's second-largest telecom operator, at ₹2,030 ($23.10) apiece, representing a discount of about 3.1 per cent to Airtel's last close on Thursday.
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Reserve Bank of India Governor Sanjay Malhotra said on Friday it is not the regulator’s job to take decisions for bank boards, speaking in the context of a wide range of reforms announced during the October review of the monetary policy.
The central bank last month announced 22 measures, including allowing banks to finance acquisitions, increasing limits on loans against shares.
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