Business

RBI Governor Advocates Interest Rate Cuts to Stimulate Private Consumption

Published

11 months ago

April 24, 2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra has indicated that the recent reduction in the benchmark interest rate will enhance private consumption and foster a resurgence in private corporate investments. His comments were made during the vote for a 25 basis point reduction in the repo rate, which was supported by five other members of the rate-setting committee earlier this month, as outlined in the minutes from the Monetary Policy Committee (MPC) meeting published by the RBI on Wednesday.

Under Governor Malhotra’s leadership, the MPC lowered the short-term lending rate by 25 basis points to 6 percent on April 9, following a similar decrease in February.

“With consumer price inflation firmly hovering around the target rate of 4 percent and growth remaining moderate and on the path to recovery, it is essential for monetary policy to stimulate domestic demand to further accelerate growth momentum. This necessity is particularly vital given the uncertain global environment, which has heightened risks to growth,” the governor stated. He emphasized that an accommodative monetary policy will be important moving forward, considering the shifting dynamics of growth and inflation.

Significantly, recent liquidity-enhancing measures implemented by the RBI on Tuesday have propelled banking stocks to all-time highs, with the Bank Nifty index reaching a record 55,961 on April 22, marking a six-day rally fueled by increasing confidence in the banking sector.

Addressing the impact of global shocks, the governor remarked that the international economic scenario is currently volatile, characterized by increased trade and policy uncertainties. This situation poses considerable challenges and trade-offs for policymakers around the globe. “The ways in which these global disturbances may affect economies, especially emerging markets, include spillovers from a slowdown in global growth, increased volatility in financial markets, and diminished confidence among consumers and investors,” he explained.

The next MPC meeting is scheduled for June 4-6, 2025.

Business

Good News for Milk Producers in Chikkaballapur – 50 Paise Increase per Litre

Published

1 week ago

March 8, 2026

Namma Kudla

Chikkaballapur: The Chikkaballapur Milk Union (Chimul) has announced good news for milk producers in Chikkaballapur district. The union has decided to increase the milk procurement price by 50 paise per litre, which will benefit dairy farmers in the district.

Earlier, on January 1, Chimul had increased the price by Rs.1 per litre as a New Year benefit to farmers. Now, the union has announced an additional 50 paise increase.

With this latest revision, dairy farmers will receive Rs.36.40 per litre for milk. The 50 paise increase will remain in effect until the end of May.

Chimul President Manjunath Reddy told Public TV that the union will review its profits and may continue the price increase in the future based on financial performance.

The decision is expected to provide some relief and encouragement to dairy farmers in Chikkaballapur district.

Business

Key Rules for Transferring Inherited Property

Published

4 weeks ago

February 15, 2026

Namma Kudla

Business : After the death of parents, legal heirs are eligible to inherit their property. However, certain procedures must be followed before the transfer is completed in India.

Heirs must file the deceased person’s income tax return for the year of death and pay any pending taxes. There is no estate tax on inherited property in India, but any income earned from it, such as rent or interest, is taxable.

If the property is sold, capital gains tax will apply based on the difference between the original purchase price and the selling price. Clearing any outstanding loans linked to the property is also mandatory.

Important documents such as the will, succession certificate, death certificate, and property valuation report should be kept ready to ensure a smooth transfer process.

Business

Does Bank Open Or close on February 14 in India?

Published

1 month ago

February 13, 2026

Namma Kudla

New Delhi: Banks across India will remain closed on February 14 as it falls on the second Saturday of the month. The holiday is part of the official schedule released by the Reserve Bank of India, which requires banks to shut on the second and fourth Saturdays and all Sundays.

Customers are advised to finish important financial tasks early to avoid last-minute trouble. Every year, the RBI publishes a holiday calendar that lists national holidays, regional festivals, and other scheduled closures.

In February, banks in some states will also close for regional occasions such as the birth anniversary of Chhatrapati Shivaji Maharaj and Statehood Day in Mizoram and Arunachal Pradesh.

Even though bank branches will remain closed, digital services like ATMs, internet banking, and UPI will continue to work normally.