The Reserve Bank of India has reallocated the responsibilities of its deputy governors following the end of Deputy Governor Michael Debabrata Patra's extended term. M Rajeshwar Rao will now handle the monetary policy department among other key departments, while T Rabi Sankar and Swaminathan Janakiraman are assigned to various departments as part of the reshuffle.
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Latest Post Office Small Savings Schemes Rates: The government has announced that interest rates for small savings schemes will remain unchanged for the first quarter of FY 2025-26. PPF will continue at 7.1%, NSC at 7.7%, and both SCSS and SSY at 8.2%. Quarterly reviews determine these rates based on guidelines ensuring competitiveness.
The Centre has introduced the Unified Pension Scheme (UPS) for central government employees with assured payouts and inflation adjustments for those with over 25 years of service. Employees currently under the National Pension System (NPS) have a one-time option to switch to UPS, which starts in April.
Air India's profitability is under pressure due to the falling rupee, which increases operational expenses. The airline mitigates some of this impact by pricing international flights in foreign currencies. However, rising costs and a competitive market make it challenging to increase fares, affecting profitability. Air India is adapting to this situation amidst an ambitious transformation and expansion plan.
Sebi has issued a cautionary letter to Nestle India over alleged insider trading violated by a high-ranking official. Nestle reassures that this incident will not hinder its financial and operational activities. Sebi's regulations aim to ensure fair market practices and protect common investors' interests.
Technology stocks surged following a temporary pause in tariffs on phones, computers, and consumer electronics, announced by the Trump administration. Apple shares notably climbed, and Asian tech stocks experienced a boost. Despite the positive market reaction, officials cautioned that tech tariffs are still anticipated in the near future, creating uncertainty about ongoing trade negotiations with China.
India's November vehicle retail sales rose 11.2% to 32,08,719 units, driven by a 15.8% surge in two-wheeler demand due to festive spillover. However, passenger vehicle sales dipped 13.7% to 3,21,943 units, hampered by weak sentiment, limited product variety, and a lack of new launches, despite some support from rural markets.
India’s GST revenue collection saw a notable 9.9% increase year-over-year in March, reaching Rs 1.96 lakh crore. February witnessed a 9.1% rise in GST collections, reaching Rs 183,646 crore, driven by substantial increases in domestic revenue sources.
HCLTech CEO C Vijayakumar highlights that while the demand for skilled IT professionals and higher billing rates will continue, revenue growth might outpace headcount additions. The company reduced its fresher recruitment target, stressing the importance of embracing generative AI for incremental value.
ITC bought more shares of EIH, the parent company of Oberoi Hotels. ITC's stake in EIH is now 16.13%. ITC also increased its stake in HLV Ltd, owner of The Leela Mumbai, to 8.11%. This happened before ITC Hotels separated from the main ITC group on January 1, 2025. ITC purchased the shares from its subsidiary, Russell Credit Ltd.
IndiGo has reported an 18% decrease in Q3 profit to Rs 2,449 crore despite a 14.6% rise in total income, impacted by the weaker rupee. Benign fuel prices were insufficient to offset dollar-denominated costs. Meanwhile, the airline plans to introduce long-haul flights by wet-leasing six Boeing 787s, targeting routes like London and Paris.