Realtors' apex body Credai on Wednesday said the RBI should have cut key interest rates to boost housing demand during the current festive season and demanded that the apex bank must consider lowering the repo rate in the next meeting.
The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday but took the first step towards a rate cut as it eased its relatively hawkish policy stance to 'neutral'.
Credai National President Boman Irani said, "As RBI remains cautious regarding potential inflationary pressures, the central bank's decision to keep the repo rate unchanged at 6.5 per cent - albeit with a revised neutral stance - seems somewhat like a missed opportunity, especially with the festive season around the corner".
A rate cut at this juncture would have provided the ideal boost to accelerate consumer demand across industries, he added.
Irani expects the central bank to cut rates in the next quarter.
Realtors' body Naredco President G Hari Babu suggested t

RBI, Reserve Bank of India

Credai National President Boman Irani said, "As RBI remains cautious regarding potential inflationary pressures, the central bank's decision to keep the repo rate unchanged at 6.5 per cent

The daily transactions on UPI crossed 501 million in September, the highest ever since UPI turned operational

UPI, UPI payments, UPI payment

In a press statement after the RBI's Monetary Policy announcement, RBI Governor Shaktikanta Das said the inflation worries have eased but there is a need for greater vigilance

Shaktikanta Das, Shaktikanta, RBI Governor

The industry experts believed that a rate cut would have helped the momentum to continue amid the festive quarter

real estate

The Reserve Bank of India, in its 51st Monetary Policy meeting, announced a shift of stance from withdrawal of accommodation to 'neutral', signalling an upcoming interest rate change

Regulator closely monitoring situation and will not hesitate to take appropriate action, he says

Governor Das warns of action for failure to do so; directs them to review compensation practices linked to targets

MPC to 'remain unambiguously focused' on a durable alignment of inflation with the target, while supporting growth

Life Insurance

Experts say they may now be slightly better placed as customers looking for tax-free returns under Rs 5 lakh investment a year may now choose their guaranteed products

IncomeTax Return, ITR

Here are some of the key ones you need to accomplish

boxing

Fitness, will and long hours of training are needed to make a mark in a sport that is gaining viewers in India

The finance ministry on Wednesday said more than 34.84 lakh audit reports, including about 34.09 lakh Tax Audit Reports (TARs), have been filed for assessment year 2024-25 on the e-filing portal till October 7.
The income tax department had extended the date for filing the audit report from September 30 to October 7.
There is an increase in the filing of TARs for the AY 2024-25 by around 4.8 per cent compared to the filings of TARs on the due date for AY 2023-24.
"To assist taxpayers, the department conducted extensive outreach programmes through emails, SMSs, webinars, social media campaigns and messages on the Income Tax portal to create and raise awareness among the taxpayers about filing TARs and other audit forms by the due date. Various user awareness videos were uploaded on the Income Tax portal to provide guidance," the ministry said in a release.
It further said that these concerted efforts have been helpful to taxpayers and tax professionals in timely compliance in filing

auditing, auditing firms auditing companies, audit

There is an increase in the filing of TARs for the AY 2024-25 by around 4.8 per cent compared to the filings of TARs on the due date for AY 2023-24

Analysts said that the implementation of the norms will negatively impact the income of these lenders while increasing pre-payment of loans and balance transfers

Just how many self-regulatory organisations (SROs) are too many? Last week, the Reserve Bank of India (RBI) capped the number of such entities for non-banking financial companies (NBFCs) at “a maximum of two”. And to ensure the smaller NBFCs get a fa

Before taking advantage of a credit subsidy, it is important to check with your bank or lending institution regarding the conditions under which the subsidy may be revoked or reclaimed by the governme

property, land, house, real estate

Before taking advantage of a credit subsidy, it is important to check with your bank or lending institution regarding the conditions under which the subsidy may be revoked

Process needs to be done again as company is strengthening its systems

PNB, Punjab National Bank

Global index provider FTSE Russell said it will include India's sovereign bonds in the Emerging Markets Government Bond Index from September 2025, potentially drawing billions of dollars into bonds

Bonds

Bajaj Housing Finance is looking to raise Rs 6,560 cr, of which fresh issues are for Rs 3,560 cr and offer for sale is for Rs 3,000 cr. Bidding for the IPO opens on Sept 9 and closes on Sept 11

Sanjiv Bajaj, chairman & managing director, Bajaj Finserv (left); and Atul Jain, managing director, Bajaj Housing Finance

We plan to finish at around Rs 42,000-43,000 crore for FY25, up 15-16 per cent from last year at Rs 37,000 crore, driven by the health segment to a great extent, said GIC CMD Narayanan

Ramaswamy Narayanan, Chairman and Managing Director of General Insurance Corporation of India (GIC Re)

We don't set up physical branches, and this allows us to reach more locations compared to the larger banks and NBFCs, he says

Ritesh Jain, Co-founder of Flexiloans.com

The only available yardstick for evaluating the tightness of monetary policy is the real interest rate. The nominal repo rate is useless for this purpose

Jayanth Varma, Jayanth R Varma, MPC

"In the long run, the payments ecosystem has to be viable in a country of our scale," said Bulusu

Power Tiller; Image courtesy: Greaves Cotton

Currently, overall power tiller industry in India is around 60,000 units and it is expected to grow to 100,000 units by the year 2025, VST Tillers said.

TikTok

Shou Zi Chew, the CEO of Chinese short-form video platform, which faces a nationwide ban in the US, has warned users as he prepares to appear before the US Congress on March 23

Mahindra

The Rs 600 crore investment will result in an ownership of between 9.97 per cent to 13.64 per cent for IFC in NewCo.

Donald Trump

But, no big crowd was seen in New York City on Tuesday despite a heavy presence of media representatives on the venues

Elon Musk

Elon Musk's unilateral decision-making, which more often than not is opposite to the official stance of the US, has caused a headache for the Biden government, and it is difficult to shrug off

Experts suggest that if you decide to reduce your cover, you should supplement the TP cover with at least a fire and a theft cover

motor insurance, Car insurance

There are many different types of car insurance policies available, each with its own set of coverage options. It is important to choose a policy that meets the needs of the car owner

Illustration: Ajay Mohanty

Aim is to bring down regulations and promote innovation in the sector

This product was developed in response to the government's vision to upscale infrastructure development, SBI General Insurance, whole-time director Anand Pejawar said

IRDAI

Regulator Irdai has constituted a task force to facilitate ease of doing Know Your Customer (KYC) by insurers using Aadhaar, the 12-digit individual identification number

Removes 30% exposure limit on each contract

Finance News: Get latest Banking news, Reserve Bank of India news, FIIs, NBFC, Insurance news, SEBI news, Public and Private sector bank news, NBFCs and gold lending news at Business Standard.

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