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RBI allows cash deposits in CDMs via UPI

Apr 5, 2024

Mumbai, April 5 (IANS) The RBI has decided to allow bank customers to deposit money in Cash Deposit Machines (CDMs) through UPI as part of its policy to enhance convenience in carrying out transactions.Deposit of cash through CDMs is currently being done primarily through the use of debit cards.“Given the experience gained from card-less cash…

RBI to review liquidity coverage ratio norms for banks

Apr 5, 2024

Mumbai, April 5 (IANS) The RBI has decided to undertake a comprehensive review of the liquidity coverage ratio (LCR) framework for banks to prevent a situation where a sudden withdrawal of money by a very large number of customers from…

Business

RBI leaves key repo rate unchanged, focus on keeping inflation in check

Apr 5, 2024

Mumbai, April 4 (IANS) The Reserve Bank of India (RBI), on Friday, left the key policy rate unchanged at 6.5 per cent in its monetary policy review for the seventh consecutive time, with the aim of keeping inflation in check and ensuring…

Business

RBI retains repo rate at 6.5 pc

Apr 5, 2024

Chennai, April 5 (IANS) Not belying the expectations of senior economists, the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) retained the repo rate at 6.50 per cent.The repo rate is the rate at which the RBI lends to…

Business

EV sales drop 25 pc in S. Korea, hybrid car sales jump

Apr 5, 2024

Seoul, April 5 (IANS) Electric vehicle (EV) sales in South Korea plunged 25 per cent in the first quarter from a year earlier, while gasoline hybrid model sales jumped 46 per cent during the same period, according to a market report on…

Business

LG Electronics reports 11 pc decline in Q1 profit as costs rise

Apr 5, 2024

Seoul, April 5 (IANS) LG Electronics said on Friday that its operating profit for the first quarter of this year fell more than 10 per cent from a year earlier, due to rising costs and intensifying competition.Its first-quarter operating…

Business

Samsung expects $4.9 billion in profit in Q1 as chip demand rebounds

Apr 5, 2024

Seoul, April 5 (IANS) Samsung Electronics said on Friday that its operating profit for the first quarter is estimated to have shot up more than 10-fold on rebounding demand for memory chips, beating market expectations.The world's biggest…

Business

Rapido Crosses 100 Crore Rides Landmark, Empowers 11 Crore Lives in 120 Cities

Apr 4, 2024

Rapido, a leading commute app in India, has etched an indelible mark on India's mobility landscape by achieving the monumental feat of 100 crore

Business

Eetretail sets out expansion plans and new leadership

Apr 4, 2024

Stanlow, April 4 (IANS) EET Retail, the retail division of EET Fuels, is pleased to announce the appointment of Narayan Bhatra as Chief Executive Officer. Narayan was previously Chief Retail Officer at Nayara Energy, India’s…

Business

Several stocks under NSE lens for significant spurt in price, volume

Apr 4, 2024

New Delhi, April 4 (IANS) The National Stock Exchange (NSE) has sought clarifications from several companies following a spurt in the prices and volumes of their scrips. “Significant increase in volume has been observed in Alkyl Amines…

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