Repo rate remains at 6.5%, loans will not become expensive | Repo rate remains at 6.5%, loans will not become expensive: Check will be cleared in a few hours, no change in the price of petrol and diesel

Yesterday’s big news was related to the Reserve Bank of India. RBI has not changed the interest rates for the 9th consecutive time. RBI has kept the interest rates unchanged at 6.5%. This means that loans will not become expensive and your EMI will also not increase. RBI last increased the rates by 0.25% to 6.5% in February 2023.

At the same time, the Reserve Bank of India (RBI) has proposed to reduce the check clearing cycle from T+1 day to within a few hours. Governor Shaktikanta Das gave this information during the statement of the Monetary Policy Committee on August 8.

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1. No change in interest rates for the 9th consecutive time: Loans will not become expensive, EMI will also not increase; RBI kept the repo rate at 6.5%

The Reserve Bank of India (RBI) has not changed the interest rates for the 9th consecutive time. RBI has kept the interest rates unchanged at 6.5%. That is, loans will not become expensive and your EMI will also not increase. RBI last increased the rates by 0.25% to 6.5% in February 2023.

RBI Governor Shaktikanta Das today, on Thursday, gave information about the decisions taken in the Monetary Policy Committee (MPC) meeting going on since August 6. This meeting is held every two months. RBI had earlier not increased the interest rates in the meeting held in June.

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2. Check will be cleared in hours, currently it takes 2 days: RBI Governor said – This will provide funds in a few hours, check clearing process will continue

The Reserve Bank of India (RBI) has proposed to reduce the check clearing cycle from T+1 day to within a few hours. Governor Shaktikanta Das gave this information during the statement of the Monetary Policy Committee on 8 August.

The Check Truncation System currently processes cheques with a clearing cycle of 2 working days. For this, a batch clearing approach is adopted, which will be replaced by continuous clearing. That is, the process of cheque clearing will continue continuously during business hours.

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3. Canara Bank to join Bank Nifty: Will replace Bandhan Bank; Trent and Bharat Electronics to join Nifty 50

Canara Bank may join the Bank Nifty index in the September reshuffle, replacing Bandhan Bank. Tata Group retail firm Trent Ltd and government-owned Bharat Electronics Ltd may also join the Nifty 50, replacing LTI Mindtree and Divi’s Laboratories.

Nuvama Alternative and Quantitative Research has said this in its latest note. Shares of Trent Limited have gained 89% so far as compared to a 9% gain in the Sensex, while Bharat Electronics Limited has gained 62% during the same period.

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4. MRF Q1 profit of ₹571 crore: down 3% year-on-year, earnings up 12%; stock up 4%

MRF i.e. Madras Rubber Factory, a tire manufacturing company in India, has made a profit of Rs 571 crore in the first quarter of the financial year 2024-25. It has decreased by 3% on an annual basis. It was Rs 588.75 crore in the same quarter a year ago i.e. Q1FY24.

Talking about the consolidated revenue from the company’s operations, it was Rs 7,196.45 crore in the April-June quarter. It has increased by 11.74% on an annual basis. In the same quarter a year ago, the company had generated a revenue of Rs 6,440.29 crore. The amount received from selling goods and services is called revenue.

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5. Cochin Shipyard earns Rs 174 crore profit in first quarter: Shipbuilding company’s revenue rises 62% to Rs 771 crore, stock rises 693% in one year

Cochin Shipyard, a shipbuilding and maintenance company, has made a profit of Rs 174 crore in the first quarter of the financial year 2024-25. It has increased by 76% as compared to the same quarter a year ago. In Q1FY24 (first quarter of financial year 2023-24), the company had a profit of Rs 99 crore.

Talking about the consolidated revenue from the company’s operations, it was Rs 771 crore in the April-June quarter. It has increased by 62% on an annual basis. In the same quarter a year ago, the company had generated a revenue of Rs 476 crore. The amount received from selling goods and services is called revenue.

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6. Sensex closed down 581 points at 78,886: Nifty also slipped 180 points, IT and energy stocks fell the most

The stock market witnessed a decline on Thursday (August 8). The Sensex closed at 78,886 with a decline of 581 points. The Nifty also fell by 180 points and closed at 24,117.

Out of the 30 Sensex stocks, 24 saw a decline and 6 saw a rise. Today, IT, energy, banking and metal stocks saw a big decline. Nifty IT index fell by 1.95%. Oil and gas, reality and metal indices fell by more than 1%.

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7. Mercedes-AMG GLC 43 Coupe launched at ₹1.10 crore: Mercedes-Benz also introduces CLE Cabriolet, gets 11.9-inch touchscreen in premium cars

German automaker Mercedes-Benz on Thursday (August 8) launched the 2024 Mercedes-Benz AMG GLC 43 Coupe and Mercedes-Benz CLE Cabriolet in the Indian market. Both the cars have been priced at Rs 1.10 crore (ex-showroom, pan-India). Both the cars have an 11.9-inch touchscreen and a 12.3-inch driver display.

These will be imported and sold in India. In India, the Mercedes-AMG GLC 43 4MATIC competes with the Porsche Macan, while the Mercedes-Benz CLE Cabriolet has no direct competitor, although it can be chosen as a premium option to the BMW Z4.

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8. Maruti recalls 2,555 Alto K10 vehicles: Recalled due to defect in steering gearbox assembly, company will replace the parts for free

Maruti Suzuki India Limited has recalled 2,555 Alto K10 vehicles due to technical fault. However, the company has not mentioned the date of manufacture of the models in the recall. Maruti Suzuki gave this information in a regulatory filing.

According to the exchange filing, a defect has been reported in the steering gearbox assembly of these vehicles. This may affect the steerability and handling of the vehicle. Maruti has advised the affected car owners not to drive their vehicle until the parts are replaced.

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