Trade unions have urged for a five-fold increase in the minimum EPFO pension to Rs 5,000 per month and the immediate formation of the 8th Pay Commission. They called for higher taxes on the super rich, increased income tax exemption to Rs 10 lakh, and social security schemes for gig and agricultural workers, while opposing privatisation and corporatisation of PSUs.
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The Reserve Bank of India cut its key repo rate by 25 basis points to 6.25%, the first cut in nearly five years. This decision from the Monetary Policy Committee aims to stimulate economic growth and offers relief to borrowers with lower EMIs. The move is in response to reduced economic growth and inflation management challenges.
Stocks in India are expected to stabilize after a significant drop, with Nifty futures showing a slight increase. Despite record equity investments in real estate, analysts warn of potential future earnings issues for developers. Kotak Securities highlights the risk of overvalued 'narrative stocks,' while further losses for the rupee are anticipated due to a less active RBI.
Zydus Lifesciences announced it is negotiating to acquire a majority stake in French medtech firm Amplitude Surgical for approximately Rs 2,500 crore. The acquisition aims to boost Zydus's global medtech ambitions, leveraging its expertise in life sciences. The deal includes a 81% premium over Amplitude Surgical's last closing price, aiming for full ownership and delisting.
US President Donald Trump's approach in the second term on tariff announcements have been perceived by markets as a more gradualist approach compared to his earlier aggressive campaign rhetoric, says a report by Union Bank of India.
India risks facing a shortfall of over a million skilled AI professionals by 2027, jeopardizing its potential to become a global AI talent hub. The increasing demand for AI expertise necessitates urgent reskilling and upskilling efforts to bridge the significant skills gap.
Ola Electric Mobility Ltd. opened 3,200 new stores in a single day, expanding its footprint to 4,000 showrooms and service centers across India. This move seeks to address customer service issues and regain market share amidst intense competition and regulatory scrutiny. The expansion prepares for upcoming vehicle launches.
Macrotech Developers filed an IPR suit in the Bombay HC to prevent House of Abhinandan Lodha from using the 'Lodha' trademark in real estate marketing. Macrotech claims it causes confusion and financial loss. Abhinandan Lodha asserts the success and legality of his brand, with a hearing scheduled for Jan 27.
Finance Minister Nirmala Sitharaman's Union Budget 2025-26 increases funds for women and child development by over Rs 3,700 crore. Major allocations include Rs 21,960 crore for POSHAN 2.0 and significant rises for Mission Vatsalya and Mission Shakti. Withdrawals from old National Savings Scheme accounts are exempt from tax starting August 2024.
Infosys has issued an internal memo to its BFSI division, enforcing a return-to-office guideline of three days per week starting April 1 to address delivery and security issues. The memo highlights concerns over team availability, accountability, and mentoring gaps. Managers failing to meet the required ten-day monthly attendance received reminders to adhere to the hybrid work requirements.
Cognizant has increased the retirement age in India to 60 from 58 to align with market practices and retain experienced talent. The new policy, effective from November last year, also states that unvested stock awards will be forfeited upon retirement and pension funds will close at 58.