Top Headlines: RBI reverses Covid-era cuts, bond yields surge, and more




The six-member Monetary Policy Committee (MPC) of the RBI hiked the policy repo rate by 50 basis points to 5.4 per cent — a three-year high — owing to inflation concern. The sovereign bond market witnessed a sharp sell-off on Friday as the RBI’s unequivocal commitment to bringing down inflation came as a surprise to the market. Read more on these in our top headlines.

RBI stays hawkish in fight against inflation; MPC reverses Covid-era cuts


The six-member Monetary Policy Committee (MPC) of the (RBI) on Friday hiked the policy repo rate by 50 basis points to 5.4 per cent — a three-year high — owing to inflation concern and to shield the exchange rate, which has come under pressure since war broke out in Europe in February. Read more


RBI monetary policy: Bond yields surge on fears of further rate hikes


The sovereign bond market witnessed a sharp sell-off on Friday as the RBI’s unequivocal commitment to bringing down inflation came as a surprise to the market, which had pinned its hopes on a softer approach by the central bank. The yield on the 10-year benchmark 6.54 per cent 2032 paper jumped 14 basis points to close at 7.30 per cent on Friday. Read more


India Inc’s capex costs to shoot up as RBI hikes repo rate by 50 bps


Indian companies that are planning to invest thousands of crores of rupees in ramping up their capacities are staring at the prospect of higher costs of funds with the (RBI) hiking the repo rate by 50 basis points on Friday. After a two-year lull due to the Covid-19 pandemic, many firms have accelerated their capital expenditure plans. Read more


Meity looks to tweak the PLI scheme for top IT hardware companies


The Ministry of Electronics and Information Technology (MeitY) is engaged in discussions with global IT hardware makers which are looking to move part of their production capacity from China to India. As part of these talks, MeitY is planning to rework the Production Linked Incentive (PLI) scheme for IT hardware to incorporate some of these companies’ requirements and make it relatively attractive for them. Read more


Need to address gap due to India’s jobless growth, says Anand Mahindra


The re-alignment in the global supply chain and reduced dependence on China imply a huge opportunity for India as companies and countries will look for alternative supply sources, Anand G Mahindra, chairman of the Mahindra Group, said on Friday while addressing shareholders at the 76th Annual General Meeting of the company. Read more


NITI governing council meet: PM, CMs to discuss crop diversification & NEP


Urban governance with a focus on reforming the tax structure at the local level, crop diversification in major cereal-growing states, self-sufficiency in pulses and oilseeds, and the National Education policy are some key issues that are set to come up in the Governing Council meeting on Sunday in New Delhi. Read more

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