Business Standard - April 10, 2025

In this issue

April 10, 2025

RBI slashes rate, shifts stance

Eases repo rate by 25 bps to 6%; dials down growth, inflation projections

3 mins

Goyal: Working to remove additional US tariffs

Urging Indian industry and exporters not to panic in light of the sweeping reciprocal tariffs imposed by the United States, Commerce and Industry Minister Piyush Goyal on Wednesday said the government was working in a \"proactive manner\" and \"exploring solutions\" in the best interest of the nation.

2 mins

IndiGo beats Delta to briefly become world's most valuable airline

Nudges past Delta's $23.18 bn with mcap of $23.24 bn

2 mins

Man pees on co-passenger on Delhi-Bangkok AI flight

A passenger travelling in the business class of an Air India flight from Delhi to Bangkok on Wednesday allegedly urinated on a senior corporate executive, aviation industry sources said.

1 min

The man who dressed India's luxe ambitions

Darshan Mehta, the man behind building Reliance Brands—the company under Reliance Industries that houses its luxury brands in the country—passed away on Wednesday morning at the age of 63 after suffering a heart attack.

1 min

Palicha: Zepto nearing $4 bn annualised GOV

Zepto is nearing annual gross order value (GOV) of $4 billion and has reduced cash burn, said Aadit Palicha (pictured), the quick-commerce company's cofounder and chief executive officer, on Wednesday.

1 min

Late 5G entry allowing cost efficiency: Vi

Says operational conditions challenging with firm being largest operator in two circles

1 min

Tata Steel to Cut 1.6K Jobs in Netherlands

Says challenging demand conditions hit operating costs

2 mins

Ather Energy cuts IPO size by 25% to ₹3,000 crore

Electric vehicle maker Ather Energy has cut the size of its planned IPO by a fourth—from ₹4,000 crore earlier to ₹3,000 crore—according to merchant bankers familiar with the development.

1 min

'Crazy not to enter India if you are operating in Asia'

Kopi Kenangan, Indonesia's largest coffee chain, is set to enter India and plans to add 50 stores over the next three years. In a video interview, EDWARD TIRTANATA, co-founder and group chief executive officer of Kenangan Brands, and SANJAY MOHTA, vice-president and general manager, India, Kenangan Coffee, spoke to Sharleen D'Souza on positioning the brand as an affordable option. Edited excerpts:

1 min

Accor eyes 300 hotels in India by '30

French hospitality major Accor Hotels and IndiGo's parent firm InterGlobe -- partners for over two decades -- are eyeing 300 hotels in India by 2030, a portfolio which will be operated by a joint entity floated by them to tap the country's fast-growing mid-market segment.

2 mins

Auto, realty companies expect sales rebound

Reduction in borrowing costs will act as a tailwind for discretionary demand

3 mins

Another rate cut, and hope for more

The monetary policy committee (MPC) of the Reserve Bank of India (RBI) unanimously reduced the policy repo rate by another 25 basis points (bps) in its three-day meeting ended April 9—in its second successive 25-bp cut.

2 mins

[COMPARATIVE ADVANTAGE] India may dodge the worst of tariff impact: RBI guv

The reciprocal tariffs imposed by the US will negatively affect domestic growth, but the impact on India will be far less severe than in many other countries, Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Wednesday.

2 mins

RBI for faster rate transmission

Bankers say immediate deposit rate cut may not be possible due to tightness in the system

2 mins

Will Provide Sufficient Liquidity for Monetary Policy Transmission

Reserve Bank of India (RBI) Governor Sanjay Malhotra and Deputy Governors Swaminathan J, M Rajeshwar Rao, and T Rabi Sankar responded to a range of issues in the post-policy press conference: Edited excerpts

3 mins

IndusInd incident not failure, but an episode

Incidents like the one involving IndusInd Bank, or New India Cooperative Bank, should not be termed as failures. Instead, they should be viewed as episodes that can occur in a financial system which has a large number of players, Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Wednesday.

1 min

Bond yields drops to 3-yr low as RBI turns dovish

Government bond yields fell to a more than three-year low on Wednesday, reaching their lowest since December 20, 2021, as traders bought domestic securities following the Reserve Bank of India's (RBI's) dovish monetary policy stance, dealers said.

1 min

RBI's draft circular seeks to standardise gold loan norms

The Reserve Bank of India (RBI) on Wednesday came out with comprehensive draft guidelines to harmonise and regulate gold loans across all financial entities, including putting a cap of 75 per cent on loan-to-value (LTV) ratio.

2 mins

PSBs' share in loans rises sharply in FY25

The pace of loan growth among public-sector banks (PSBs) has seen a surge in the financial year 2024-25, and this is an exception to the overall moderation in bank credit during FY25.

1 min

RBI cuts rate, charts out the path ahead

Finally, the Reserve Bank of India (RBI) has kicked off an easy-money policy regime.

4 mins

Colending to be extended to all regulated entities

All regulated entities can now take part in colending, whose scope will extend beyond segments covered under priority-sector lending (PSL), according to the Reserve Bank of India (RBI).

1 min

RBI Evaluating Liquidity Framework to Determine Overnight Anchor Rate

The Reserve Bank of India (RBI) is evaluating its liquidity management framework to determine whether to retain the current weighted average call rate (WACR) or explore alternative tools, said Governor Sanjay Malhotra during the post-Monetary Policy Committee press conference.

2 mins

Bond yields drop to 3-yr low as RBI turns dovish

Government bond yields fell to a more than three-year low on Wednesday, reaching their lowest since December 20, 2021, as traders bought domestic securities following the Reserve Bank of India's (RBI's) dovish monetary policy stance, dealers said.

1 min

India too big to be used by US against China: Jeffrey Sachs

Renowned economist and United Nations (UN) Advisor Professor Jeffrey Sachs has warned India against becoming entangled in US geopolitical strategies, particularly amid rising tensions with China.

2 mins

Unemployment Rate Marginally Declined to 4.9% in 2024: PLFS

India's unemployment rate marginally dropped to 4.9 per cent in 2024 from 5 per cent in 2023 \"suggesting slight improvements in employment opportunities\", according to Periodic Labour Force Survey (PLFS) data compiled by the statistics ministry.

1 min

Nomura Revises Global Economic Estimates After Trump Tariffs

\"Liberation Day,\" tariffs are now projected to climb to approximately 23 percent. Nomura has made adjustments to its outlook.

1 min

Households Expect Lowest Inflation Since Pandemic

Households expect prices to come down in two time horizons — in the near term and one year ahead — while consumer confidence has strengthened sentiment, according to the Reserve Bank of India's (RBI's) forward-looking surveys in March 2025.

1 min

ADB Lowers GDP Growth Forecast for FY26 to 6.7%

Says global uncertainty may affect investments in India; Moody's sees country benefitting from trade diversions

2 mins

India-China Ties Moving in Positive Direction

India and China are moving towards a \"positive direction\" in their ties and work needs to be done to normalize the relationship, External Affairs Minister S Jaishankar said on Wednesday.

1 min

India should cut 'outlier agri tariffs' to tackle US levy shock: Policy paper

India's policy for agriculture trade must move commodity-by-commodity to gain maximum benefits as US President Donald Trump's 26 per cent tariff on exports from the country take effect, said agriculture economist Ashok Gulati in a recent policy paper.

2 mins

UK set to support India in rupee's internationalisation

India and the UK have agreed to explore the role of London as a global financial centre and foreign exchange hub to support internationalisation of the rupee, said a joint statement of the India-UK Economic and Financial Dialogue.

1 min

‘Trump can likely reach tariff deals with US allies’

SHRUGGING OFF MARKET ROUT, US PRESIDENT SAYS ‘BE COOL!’

1 min

US Bond Rout Rings Alarm Bells Across World Markets

US Treasuries, the bedrock of the global financial system, were hit by fresh selling pressure on Wednesday, in a sign that investors were dumping their safest assets as turmoil unleashed by US tariffs prompts forced selling and a dash for cash.

1 min

Trump: Pharma Tariffs Coming Very Soon

US President Donald Trump said his long-promised tariffs on pharmaceutical drugs will be coming soon, the latest signal that he plans to press ahead with more sectoral tariffs despite market fallout from his global levies.

1 min

Walmart backs forecasts, vows to keep prices low

Walmart stuck to its full-year sales and income growth forecasts on Wednesday and vowed to keep prices low, even as US President Donald Trump's sweeping tariffs fuel fears of a global recession.

1 min

Whispers of change in China as some firms tell staff to work less

A handful of major Chinese companies like home appliance maker Midea have new badges of honour this year: mandatory clock-off times for staff and bans on after-hours meetings.

2 mins

China, EU hit back as US tariffs kick in

SHRUGGING OFF MARKET ROUT, US PRESIDENT SAYS 'BE COOL!'

4 mins

Another 1991 moment

The Trump trade shock is a chance to push reforms long overdue, rather than tinker with tariffs to appease the US

4 mins

Divergent imaginations of Hindi-Hindu nationhood

Although disparate subjects, caste, Ayurveda, travel, and communism were typical to India, especially in the early 20th century.

3 mins

A Reset With The States

Governors Must Respect The Constitutional Position

2 mins

Policy adjustment

Currency can increase inflation risks

2 mins

The limits of Liberation Day

Economists may think Donald Trump urgently requires a crash course in Economics 101 since the extraordinary tariffs he imposed on most of the world on April 2, \"Liberation Day\" are incompatible with almost any economic logic — including the 46th President's expectation of higher revenues to finance tax cuts for his billionaire cronies.

4 mins

India clears ₹63K cr Rafale naval jet deal with France

In India's largest-ever fighter jet acquisition, the Cabinet Committee on Security (CCS) on Wednesday cleared the purchase of 26 Rafale Marine combat aircraft worth over ₹63,000 crore from France for the Indian Navy, according to government sources.

1 min

After deflation of 18 months, LPG may witness retail inflation now

Liquefied petroleum gas (LPG) is set to witness retail price inflation beginning April after a continuous fall in prices year-on-year for one and a half years till February 2025.

1 min

Growth still on recovery path: RBI guv

Malhotra further said: \"On the other hand, impeded by a challenging global environment, growth is still on a recovery path after an underwhelming performance in the first half of 2024-25.

2 mins

At meet with Goyal, exporters seek support to face tariff hit

\"Indian exporters were asked to remain vigilant and avoid letting other countries use India as a conduit to bypass US' higher tariffs,\" people aware of the matter told Business Standard.

1 min

Sebi forms expert group to tackle conflict of interest

The Securities and Exchange Board of India (Sebi) on Wednesday announced the formation of a high-level committee (HLC) chaired by Pratyush Sinha, a retired Indian Administrative Service officer and former Chief Vigilance Commissioner (CVC).

1 min

Meltdown halts MF asset gains

Nifty, Sensex decline over 0.5%; oil slips to 4-year low; gold prices spike over 2%

3 mins

Street gives thumbs up to Godrej Properties' strong Q4 bookings

Realtor Godrej Properties Limited (GPL) is present in top real estate markets such as Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Pune, and Bengaluru.

3 mins

DIPAM Pushes for PSU Picks in MF Portfolios

The Department of Investment and Public Asset Management (DIPAM) plans to nudge mutual fund houses to consider including public sector undertaking (PSU) stocks in their core investment portfolios, highlighting the strong value and dividend returns delivered by state-run firms in financial year 2024-25 (FY25).

1 min

DEBT FUND OUTLOOK Choice of fund class must match horizon and risk appetite

The Reserve Bank of India (RBI) cut the repo rate by 25 basis points (bps) to 6 per cent on April 9, its second consecutive reduction following the 25-bps cut on February 7.

2 mins

FMCG stocks outperform on lower inflation estimates

Fast-moving consumer goods (FMCG) stocks were big gainers in a weak market after the monetary policy committee (MPC) of the Reserve Bank of India (RBI) cut the inflation forecast for FY26 to 4 per cent, from 4.2 per cent earlier, and saw urban consumption improving.

2 mins

Qcom riders buckle under 15-min strain

Majority of them say 60-minute delivery promotes safer driving

1 min

CDSCO brings new rules for drug transfer from SEZ units

To prevent the sale and distribution of illegal and unapproved drugs and formulations in India, the Central Drugs Standard Control Organisation (CDSCO) has issued new rules mandating import registration and licence for drugs meant to be transferred from special economic zones (SEZ) to domestic tariff areas (DTA).

1 min

ER&D Sector Witnesses Leadership Churn Amid Demand Uncertainty

Nearly half a dozen firms have seen CEO changes this year

2 mins

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