Author: Legal Parivar

Reserve Bank of India, RBI Governor Shaktikanta Das emphasized the importance of prioritizing regulatory guidelines for banks, non-banking finance companies (NBFCs), and other financial institutions during the outcome announcement of the monetary policy committee (MPC) on April 5. Das highlighted that scheduled commercial banks and NBFCs maintain robust capital and asset quality, as observed during the first policy review of FY25. According to Das, key indicators of capital and asset quality for scheduled commercial banks remain strong, with NBFCs showing financial indicators in line with the banking system based on the latest available data. The MPC, maintaining its stance as…

Disney CEO Bob Iger has unveiled strategies to address password-sharing on the company’s streaming platform, slated to roll out in June. Iger emphasized the significance of consolidating the streaming industry during a CNBC interview, aiming to enhance subscriber growth and bolster profitability. He articulated aspirations of achieving double-digit margins for the business. This initiative mirrors actions taken by streaming behemoth Netflix, which observed a notable surge in subscribers after clamping down on password-sharing, exceeding Wall Street’s projections by adding nearly 22 million subscribers in the latter half of 2023. Iger’s announcement closely follows a proxy battle against Disney’s activist investors,…

RBI Governor Shaktikanta Das has proposed allowing third-party UPI apps to facilitate payments and cash deposits at Cash Deposit Machines (CDMs) during the central bank’s first bi-monthly committee meeting for FY24–25. Speaking at the RBI MPC meeting for 2024, Das stated, “Cash deposits through CDMs are currently predominantly done via debit cards. Building on the success of cardless cash withdrawals through UPI at ATMs, we now propose to enable cash deposits at CDMs using UPI.”

On the morning of April 5, benchmark indices, the Sensex and the Nifty, were trading marginally lower after the Reserve Bank of India (RBI) maintained the repo rate at 6.5 percent for the seventh consecutive time. Realty stocks showed strength among rate-sensitive sectors, while the auto sector saw a decline. The Sensex dipped by 65.01 points or 0.09 percent to 74,162.62, and the Nifty slipped by 20.70 points or 0.09 percent to 22,494.00. Market breadth favored gainers with 1,851 shares advancing, 1,292 declining, and 95 unchanged. India’s 10-year bond yield increased by three basis points to 7.12 percent, while the…

On April 5, the Reserve Bank of India announced its decision to maintain the policy rate unchanged for the seventh consecutive time, with Governor Shaktikanta Das emphasizing the institution’s vigilance. Here are the key highlights from his speech:

In its initial session of FY 25, the Reserve Bank of India’s monetary policy committee (MPC) opted to maintain the key repo rate at 6.5 percent, aligning with market expectations. The committee’s focus remains steadfast on curbing inflation, retaining the stance unchanged as a move towards withdrawal from accommodation. The repo rate denotes the rate at which the central bank lends funds to commercial banks for short-term purposes. Between May 2022 and February 2023, the MPC hiked the repo rate by 250 basis points (bps). However, it has since maintained it at a steady level. One basis point equals one-hundredth…

On April 5, the Reserve Bank of India (RBI) maintained its projection for the Consumer Price Index (CPI) inflation for the current fiscal year (FY25) at 4.5%. The CPI has stayed within the RBI’s tolerance range of 2-6% for the past six months. Governor Shaktikanta Das announced that the RBI’s monetary policy committee (MPC) voted 5:1 to keep the benchmark interest rate unchanged at 6.5% for the seventh consecutive meeting. Governor Das highlighted that robust growth prospects provide room for policy measures aimed at achieving the 4% inflation target. The MPC has decided to remain focused on transitioning away from…

On April 5, HDFC Bank’s share price remained in focus, continuing its upward trajectory following the private lender’s impressive March quarter business updates, which showcased significant growth in deposits and a reduction in the loan-to-deposit ratio. Marking its seventh consecutive session of gains, HDFC Bank’s share price opened at ₹1,543, reflecting a one percent increase from its previous close of ₹1,527.90 on the BSE. Several prominent brokerage firms expressed bullish sentiments towards HDFC Bank’s stock post its Q4 business update, citing better-than-expected deposit growth during the March quarter. Macquarie maintained an “outperform” rating on the stock with a target price…

Bajaj Finance is poised to attract attention on April 5 following its business update, which revealed a notable 34 percent surge in assets under management (AUM) and robust growth in its customer base. In the March quarter, Bajaj Finance recorded a 34 percent year-on-year increase in AUM, reaching Rs 330,400 crore. The company also reported a significant expansion in its customer franchise, which grew to 83.64 million from 69.14 million in the corresponding period last year. Additionally, new loans witnessed a 4 percent growth to 7.87 million, compared to 7.56 million previously. Jefferies maintained its “buy” recommendation on the stock…

A recent report by The Guardian alleges that the Indian government was behind the killings of nearly 20 individuals in Pakistan, whom intelligence officials deemed as threats to national security. These killings were purportedly part of India’s strategy to eliminate terrorists residing on foreign soil. The Guardian claims to have seen documents related to these incidents but could not independently verify them. However, the Ministry of External Affairs (MEA) has refuted these allegations, dismissing them as false and malicious propaganda against India. Indian officials, including S Jaishankar from the MEA, have consistently denied any involvement in such killings, stating that…