National Critical Mineral Mission, Highest FD interest rates, Denta Water IPO & more
Your daily dose of business news
🗞️ Monetary Reflation Needed to Balance Fiscal Consolidation
The current economic environment calls for a targeted monetary reflation strategy, which will complement the government's fiscal consolidation efforts. Experts stress that this will help manage inflation while maintaining growth momentum.
Expert Opinion: Economist Dr. Arvind Chandra emphasises, "This policy adjustment will ensure stability while balancing growth and inflation control."
🗞️ Centre Approves National Critical Mineral Mission with ₹16,300 Crore Allocation
The Indian government has approved a ₹16,300 crore allocation for the National Critical Mineral Mission, aimed at reducing India’s dependency on imports of critical minerals like lithium, cobalt, and rare earths.
Expert Opinion: Mineral expert Dr. Rajeev Sethi mentions, "This initiative will be a game-changer for India's self-sufficiency in critical minerals."
🗞️ SBI Announces Highest FD Interest Rate for Senior Citizens
State Bank of India (SBI) has revised its fixed deposit interest rates for senior citizens, offering up to 7.5% interest on 1-year FDs. General citizens can also benefit from slightly lower, but attractive rates.
Expert Opinion: Investment consultant Priya Sharma explains, "With rising interest rates, senior citizens can now look forward to better returns, especially in uncertain markets."
🗞️ No GST on Penal Charges by Banks, NBFCs
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that no GST will be charged on penal charges levied by banks and non-banking financial companies (NBFCs) for delayed payments.
Expert Opinion: Tax expert Dr. Vikram Rai notes, "This clarification removes ambiguity for borrowers and ensures transparency in the tax system."
🗞️ OpenAI Faces Jurisdictional Challenge in Delhi HC
The Delhi High Court rejected OpenAI's plea to first address jurisdiction in a legal dispute. The ruling highlights the judiciary’s focus on substantive case evaluation.
Expert Opinion: Legal expert Dr. Meera Sharma remarks, "This decision may set a precedent for cases involving global tech firms operating in India."
🗞️ HSBC Cuts Bajaj Housing Finance Target to ₹90
HSBC reduced its target price for Bajaj Housing Finance to ₹90, maintaining a "reduce" rating. Concerns over valuation and earnings growth potential influenced this move.
Expert Opinion: Market analyst Ramesh Shetty says, "Investors may need to reconsider exposure to Bajaj Housing Finance in light of revised earnings expectations."
🗞️ Alibaba Qwen AI Introduces Device Control Models
Alibaba’s Qwen team has unveiled AI models capable of controlling PCs and smartphones, signaling a breakthrough in personal device automation.
Expert Opinion: AI expert Dr. Neha Jain says, "This development could redefine how users interact with technology, sparking innovation in AI usability."
🗞️ Denta Water IPO Shows Promising Listing Gains
Analysts predict positive returns from Denta Water’s IPO listing, buoyed by strong grey market premiums (GMP) and investor interest.
Expert Opinion: IPO expert Ankit Tiwari says, "This IPO’s performance underscores growing confidence in niche market players."
📈 Market Updates: Key Indices & Commodity Rates
Sensex: Closed at 76,532.96, up 631.55 points (+0.83%)
Nifty 50: Settled at 23,163.10, increasing by 205.85 points (+0.90%)
Gold Rates: ₹8,209.30 per gram for 24-carat (↑₹320)
Silver Rates: ₹99,500 per kg (no change)
Note: Gold and silver rates are approximate and may vary based on market conditions and location.