The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
If you are fasting, you must steer clear of processed and packaged foods as they often contain additives, preservatives and excessive salt or sugar which can disrupt the purity and purpose of your diet, says dietician Ruchi Rai.
England must treat every Test match like an Ashes series decider as part of their red-ball reset, former captain Nasser Hussain said.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
'The world is watching carefully. The choices India makes today have consequences beyond its borders.'
With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
Rejecting Biden's comments, Pakistan foreign minister Bilawal at a press conference here said that Pakistan was following the global standards.
Yet again, it's a Hollywood film that's scoring in Indian cinemas this season.
Alcaraz was impressive in his first Grand Slam match since his US Open triumph last year
'Umran is a super exciting talent. Seeing him in the Indian international scene is an amazing rise'
'India is an equity market with a breadth and depth of companies to invest in.'
Novelis' results for the January-March quarter of the 2022-23 financial year (Q4FY23) disappointed investors and as a result, the share price of Hindalco (Novelis is a 100 per cent subsidiary of Hindalco) has slid. The non-ferrous metals major is suffering from the impact of a down-cycle in aluminium and copper, as well as the slowdown imposed in Europe by the Russia-Ukraine war. Prospects for the firm look gloomy, at least for the first half (H1) of FY24.
Morgan Stanley has upgraded China's equities amidst optimism about the country relaxing restrictions to slow down the spread of Covid-19. "Multiple positive developments alongside a clear path set towards reopening warrant an upgrade and index target increases for China," the brokerage said in a note. MSCI China's return on equity (ROE) is likely to rise from 9.4 per cent to 11.1 per cent by the end-2023.
Take a look at the five top contenders for the men's singles title at the French Open:
'The end of WFH has made achieving work-life integration more challenging for women.'
Satwiksairaj Rankireddy and Chirag Shetty's historic title triumph at the Indonesia Open came against their nemesis Aaron Chia and Soh Wooi Yik, who had beaten them in their previous eight matches.
Manchester United manager Erik ten Hag backed Bruno Fernandes to continue his role as stand-in skipper.
Benefitting from the economic rebound, banks are expected to report a healthy bottom-line and asset quality profile in the quarter ended March 2023 (Q4FY23). The net profit of listed commercial banks is projected to grow by an average 43.6 per cent year-on-year (YoY) in Q4FY23 amid better net interest margins (NIMs) and declining credit costs. This is based on a combined assessment of analyst estimates for 17 banks on Bloomberg database.
In a major cabinet reshuffle, Arjun Ram Meghwal has replaced Kiren Rijiju as the Union law and justice minister, a communique from the President's Secretariat said on Thursday.
Manchester United bounced back from their defeat with a 4-1 win over Real Betis in the first leg of their Europa League last-16 tie.
Senior citizens should avoid putting their entire retirement corpus in SCSS.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
Vidarbha wicketkeeper-batter Jitesh Sharma's finishing ability is like gold dust that the current Indian T20 set-up is desperately seeking.
The palace said the Queen Mary Crown was removed from display at the Tower of London to be repurposed for the ceremony on May 6 with jewels paying tribute to the late Queen Elizabeth II.
Investors who decide to enter medium to long-duration funds should be cognisant of the risk.
The Congress on Saturday wrote to the Election Commission seeking action against Prime Minister Narendra Modi for his 'Congress shielded terrorism for vote bank' remark and said he has crossed the 'lakshman rekha'.
However, the handle, which has over 40,000 followers, was restored later in the afternoon.
GT are probably missing New Zealand pacer Lockie Ferguson, who they have traded to Kolkata Knight Riders.
Defence Secretary R K Mathur should take to Prime Minister Narendra Modi just five simple measures that would create or catalyse dramatic improvements across the wider defence arena, says Ajai Shukla.
Kolkata Knight Riders will be desperate to press the reset button and snap their three-match losing streak when they face Chennai Super Kings in the IPL match in Kolkata on Sunday.
"Sometimes as a bowler, a batter is able to take his chances against you and get success. I saw videos with our bowling coach and my line and length were good, except for one ball. Sometimes, you get beat on good balls. But if you keep thinking about this, you will never make a comeback," he added.
'We have five ex-captains and eight players who play Test format, competing in T20s. How can't we find another set of players for T20? You just can't have the same players'
'One lesson to emerge out of the Modi-Putin summit is that India can be more self-confident that it possesses inherent strengths to leverage its interlocutors to influence Pakistani policies,' says Ambassador M K Bhadrakumar.
Ben Stokes brings his own special magic on his return to the shortest format, while Liam Livingstone, Dawid Malan, Buttler and Moeen Ali ensure that England bat deep and powerfully.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
Chennai Super Kings suffered due to a dubious on-field umpiring call after a short-circuit at the Wankhede Stadium
Chennai Super Kings suffered due to a dubious on-field umpiring call after a short-circuit at the Wankhede Stadium
Collingwood takes over after Chris Silverwood stepped down last week
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