The RBI takes into account a particular range within which crude prices are expected to fluctuate considering all the factors that can be anticipated and that can be sort of foreseen as of today.
The 30-share Sensex nosedived 1,747.08 points or 3 per cent to settle at 56,405.84 and the broader Nifty plummeted 531.95 points or 3.06 per cent to 16,842.80.
The Central Bureau of Investigation (CBI) recently booked ABG Shipyard Limited, its former chairman and managing director Rishi Kamlesh Agarwal and others for allegedly cheating a consortium of two dozen lenders led by ICICI Bank.
Replying to questions after addressing the RBI's Central Board of Directors on Monday, Finance Minister Sitharaman said the central bank and the government are on board regarding digital currencies.
Inflation in manufactured items was 9.42 per cent in January, against 10.62 per cent in the previous month. In fuel and power basket, the rate of price rise was 32.27 in January, a tad lower than 32.30 per cent in December.
The 30-share Sensex nosedived 1,540.85 points to 56,612.07 in early deals and the broader Nifty plummeted 458.20 points to 16,916.55. On the Sensex chart, all 30 shares were trading with steep to moderate losses -- with SBI, Tata Steel and IndusInd Bank tumbling over 4 per cent.
LIC's listing is crucial for the government to meet the lowered revenue estimates of Rs 78,000 crore for the current financial year. The government had an initial target of Rs 1.75 lakh crore from the disinvestment proceeds.
ABG Shipyard fraud is much higher than the one perpetrated by Nirav Modi and his uncle Mehul Choksi, who allegedly cheated the Punjab National Bank (PNB) of around Rs 14,000 crore through the issuance of fraudulent Letters of Undertaking (LoUs).
Asked whether EPFO would maintain the 8.5 per cent interest rate for 2021-22 as decided for 2020-21, Yadav, who also heads the CBT, said the decision would be taken on the basis of income projection for the financial year.
Basic customs duty is already nil on crude palm oil (CPO) and now the Central Board of Indirect Taxes and Customs (CBIC) through a notification has cut the agri infra development cess to 5 per cent from 7.5 per cent, effective from February 13.
Rahul Bajaj (83), who stood down from his position of non-executive director and chairman of Bajaj Auto on April 30 last year and remained as the Chairman Emeritus, was not keeping well for some time and passed away at around 2:30 pm on Saturday.
Bajaj was not keeping well for quite some time and passed away at around 1430 hrs on Saturday, the official said. His last rites will be held on Sunday.
In 2001, Rahul Bajaj was conferred the third-highest civilian award Padma Bhushan.
The board members commended the performance of the Executive Chairman and unanimously approved the re-appointment of Chandrasekaran as the Executive Chairman for the next five years, Tata Sons stated.
Grover, who was sent on a three-month leave following allegations of using abusive language against Kotak Mahindra Bank staff and fraudulent practices, has denied all allegations.
Replying to the general discussion on Union Budget, the minister said, "I am not going to legalize it or ban it at this stage. Banning or not banning will come subsequently, when consultations give me input".
Replying to a general discussion on the Union Budget in Rajya Sabha, the minister said, the Budget for 2022-23 fiscal year, stands for continuity, brings stability to the economy along with predictability of taxation.
The Labour Department said Thursday that consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982.
Cautioning investors, the governor said such assets have no underlying whatsoever, not even a tulip.
RBI Governor Shaktikanta Das said the monetary policy committee decided to hold the lending rate, or the repo rate, steady at 4 per cent, and its reverse repo, or the rate at which it absorbs excess cash from lenders - unchanged at 3.35 per cent.
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