Crucial hour: the main economic news of April 10, 2022

RBI raises inflation forecast to 5.7%, keeps repo rate unchanged. Here’s what Uday Kotak has to say: News

In its first monetary policy announcement for 2022-23, the Reserve Bank of India (RBI) raised its inflation forecast to 5.7% from the previous estimate of 4.5%.

The RBI has revised its inflation projections upwards and sharply cut its growth projections for the current financial year due to heightened geopolitical tensions since late February, posing a downside risk for domestic growth and an upside risk to inflation projections.

The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, held its first meeting of the current financial year a few days ago.

The RBI’s MPC, however, kept benchmark repo rates unchanged at the current level of 4%.

As the RBI raises the country’s retail inflation rate projection and keeps repo rates unchanged, Uday Kotak, the CEO of Kotak Mahindra Bank, has expressed concern and questioned the decisions.

No new Chinese investment, India helped as much as possible : Lanka Ex PM, News

Former Sri Lankan Prime Minister Ranil Wickremesinghe on Sunday accused the incumbent government of plunging the country into a deep economic and political crisis with its “incompetence in dealing with financial challenges”, while saying the complete failure has led to a situation where the people make long queues.

“This (the economic crisis) never happened in our time…when our government was here, there were no queues to buy basic necessities. There should be no reason for people to take to the streets. But everything is happening because of the incompetence of Gotabaya Rajapaksa’s government in the country,” former Prime Minister Wickremesinghe told ANI.

Wickremesinghe also said that when he was prime minister in 2019, the country’s economy was healthy with excess capital, but the incompetence of the current government brought people to the streets.

‘We have no choice’: Lankan Foreign Aid Minister, India Credit Line: News

Sri Lanka will need about $3 billion in external aid over the next six months to help restore the supply of essential items, including fuel and medicine, to manage a severe economic crisis, it said. his finance minister told Reuters on Saturday.

The island nation of 22 million has been hit by prolonged power cuts, with shortages of medicine, fuel and other items, bringing angry protesters to the streets and putting President Gotabaya Rajapaksa under a increasing pressure.

“It’s a Herculean task,” Finance Minister Ali Sabry said in his first interview since taking office this week, referring to seeking $3 billion in bridging funding as the country prepares for negotiations. with the International Monetary Fund (IMF) this month.

India secures market access for export of bananas and bush corn to Canada : News

Canada has given its approval for the export of fresh bananas with immediate effect, while outbound shipments of baby maize will begin from this month after a technical update, the government said in a statement.

The decision was made after negotiations between Agriculture Secretary Manoj Ahuja and Canada’s High Commissioner, HE Cameron MacKay, on April 7.

national flag of canada :news

“Canada has informed that the export of fresh maize from India to Canada may commence from April 2022 following the update of Directive D-95-28: Phytosanitary Import Requirements and Domestic Movement for Maize and the Automated Import Reference System,” the statement read.

Based on the technical information provided for fresh bananas by India, Canada has approved the entry of bananas into Canada with immediate effect, he added.

Gasoline and diesel prices remained stable for the fourth consecutive day on April 10. This is the sixth time in the past 19 days that fuel prices have remained unchanged. Since March 22, fuel prices have increased by Rs 10 per liter via 14 revisions.

Essence-diesel price today: पेट्रोल-डीजल की लेटेस्ट कीमतें अपडेट, जानें दिल्ली से मुंबई तक प्रमुख शहरों का रेट - Diesel gasoline prices continue stable fuel rate today 10 April Delhi for ...

According to a price notification from state fuel retailers, essence in Delhi costs Rs 105.41 per liter and diesel 96.67 rupees per litre.

In Mumbai, the prices of petrol and diesel per liter are Rs 120.51 and Rs 104.77 respectively. In Chennai, petrol costs Rs 110.85 per liter and diesel Rs 100.94 per litre. In Kolkata, petrol is Rs 115.12 per liter and diesel Rs 99.83 per litre.

Bilawal Bhutto could be Pakistan’s next foreign minister: News

Bilawal Bhutto is expected to be appointed as Pakistan’s next foreign minister in the new government after Imran Khan’s tenure as prime minister came to an ignominious end following his ousting through a vote of no confidence, according to a media report.

bilawal bhutto hits out at imran khan's government over talks with banned ttp - Times of India

While the posts of prime minister and president are important, the question of who will be the foreign minister under the new government is also important as the joint opposition has consistently targeted Khan’s government for its poor foreign policy, a reported Geo News.

Kissflow Inc CEO Suresh Sambandam told PTI that the five employees have been with the company since its inception and have helped the company “dig for gold” during the pandemic. He further said that some of the employees came from modest backgrounds and faced significant challenges before joining the company. The company faced many hurdles as it tried to navigate the tough business environment of the pandemic and some investors even raised doubts about how well the company was performing at the time.

Information technology is a lucrative industry to work in, as evidenced by frequent reports of massive salary increases given by software companies to employees. Software developers, product managers and other similar roles are among the most sought after in the industry, known to receive up to 100% salary increases, especially following the wave of digital transformation which swept the global economy in the wake of the Covid-19 pandemic as millions of employees went to work remotely.

“Debt-free”: Ruchi Soya pays Loan of 2,925 cr after the issuance of the FPO : economic news

India’s largest edible oil maker, Ruchi Soya is “debt free” after its follow-on public offering (FPO). Part of the revenue from the FPO was used to pay down the debt. With this, the company supported by Baba Ramdev reimbursed 2,925 crores to a consortium of banks led by the government-owned State Bank of India (SBI).

Mortgage rates may soon rise; retail depositors should see higher returns:News

Interest rates on home loans may rise soon even though banks will continue to raise deposit rates.

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Bankers said it was somewhat unreasonable to expect mortgage rates to be between 6.4% and 6.5% when the benchmark yield is north of 7%. Although home loans are generally tied to the repo rate, which was left unchanged by the Reserve Bank of India (RBI) on Friday, interest rates in the system are now expected to rise over the coming months, with some economists expecting at a repo rate. hiking from the month of June,

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