Author: Legal Parivar

Proposed Changes in Birth Reporting: Parents of newborn children will soon need to record their religion individually in the proposed Birth report, departing from the existing practice of declaring the ‘religion of the family,’ The Hindu Reported. The shift aligns with the Union Ministry of Home Affairs’ Model Rules. Before implementation, state governments must be notified and adopt the new form. Additionally, the religion of parents will be individually recorded for adoption cases. Establishment of a National-Level Database: A national-level database will be established to maintain records of births and deaths. This database holds the potential to update various other…

Mahindra & Mahindra and Sun Pharmaceutical Industries reached their new 52-week highs today. The Nifty 50 declined by -0.1%, while the Sensex was down by -0.02% at 05 Apr 2024 10:59:55 IST. On the other hand, the Bank Nifty increased by 0.19% at 05 Apr 2024 10:44:53 IST. Among the top gainers in the BSE Sensex index were HDFC Bank, Mahindra & Mahindra, Kotak Mahindra Bank, NTPC, and State Bank Of India. Conversely, Larsen & Toubro, Bajaj Finance, Ultratech Cement, Tech Mahindra, and Axis Bank were the top losers. In the Bank Nifty index, the top gainers included Au Small…

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…