Story by Akashdeep Baruah, CNBCTV18

Here’s a rundown of 11 significant news stories to keep you in the know:

#RBIMPCDecisions

RBI MPC Meet: Status quo maintained on rates, policy stance at “withdrawal of accommodation”

The Reserve Bank of India did not hike its lending rate (repo rate), in line with the consensus expectations of market watchers and economists.

The repo rate was left unchanged at 6.5%, as announced in the October policy. A CNBC-TV18 poll had also expected the Monetary Policy Committee to maintain a status quo.

Decision to take keep the rates unchanged was taken unanimously. The Monetary Policy Committee also decided by a 5:1 majority to remain focused on “withdrawal of accommodation.”

RBI MPC Meet: FY24 inflation projection left unchanged at 5.4%

The Reserve Bank of India’s (RBI), Monetary Policy Committee has left the inflation projections for financial year 2024 unchanged at 5.4%.

For the third quarter of financial year 2024, the CPI projection has also been maintained at 5.6%, as is the projection for the March quarter, which is unchanged at 5.2%.

#StockMarket

Nifty 50 crosses the 21,000 mark in 61 sessions from 20,000; Here’s how much higher it can go

The Nifty 50 index crossed the 21,000 mark on Friday, 61 sessions after it first scaled the 20,000 mark on September 11 this year.

Nifty 50’s journey from 19,000 to 20,000 took 52 trading sessions. It could have happened in 15 as well, but the index made an all-time high of 19,991 before reversing course.

SEBI getting ready to introduce T+0 settlement trade by end of March 2024: Madhabi Puri Buch

Capital markets regulator SEBI (Securities and Exchange Board of India) is gearing up to introduce same-day settlement of trades on the bourses, known as T plus zero (T+0) settlement trade, by the end of the current financial year 2023-24, said SEBI Chairperson Madhabi Puri Buch on Friday (December 8).

The markets watchdog has already reduced the settlement timelines to as short as one day.

GQG among the likely buyers in GMR Airports block deal: Exclusive

Global fund and a key investor in Adani Group companies, GQG Partners is a likely buyer in today’s block deal that has taken place in the shares of GMR Airports, sources with knowledge of the matter told CNBC-TV18.

76 crore shares of GMR Airports or 12.6% of the total equity exchanged hands in a large trade on Friday. The transaction is valued at ₹4,465 crore.

#Banking

Bank unions agree to 17% salary hike from FY22 but demand a 5-day work week pre-agreement

Indian Banks Association (IBA) and other bank unions have reached a consensus on wage revision and agreed to an annual increase of 17% in salaries for five years starting fiscal 2021-22, according to a statement issued on December 7. The wage revision will be effective from November 1, 2022.

However, the unions have demanded that all Saturdays be declared public holidays for banks before they sign the wage agreement.

HDFC Bank’s loan EMI may rise as lender hikes MCLR across select tenures

HDFC Bank has made changes to its benchmark Marginal Cost of Funds-Based Lending Rates (MCLR) on select tenures, effective December 7, 2023. The overnight MCLR has been raised by 5 basis points from 8.65% to 8.70%. The one-month MCLR of HDFC Bank has increased by 5 basis points to 8.75% from 8.70%.

The three-month and six-month MCLR has been kept unchanged at 8.90% and 9.15%, respectively. The one-year MCLR, which is linked to many consumer loans like home and auto, has been kept unchanged at 9.20%.

#Economy

India’s circular economy likely to touch $2 trillion by 2050

By 2050, India’s circular economy is likely to be valued at $2 trillion. This is expected to create close to 10 million jobs by 2050, stated CII in its ‘National Circular Economy Framework’ (NCEF).

The trade association has recently unveiled a roadmap to National Circular Economy Framework. In it, CII and other industry players pitch for establishment of a new agency – National Circular Economy Authority (NCEA) – which can implement the national Circular Economy strategy, coordinate the activities of different industries and agencies, reform the regulations and so on.

#Politics

Parliament Winter Session 2023 Live: TMC MP Mahua Moitra’s expulsion report to be tabled in Lok Sabha today

The Ethics Committee report recommending Trinamool Congress MP Mahua Moitra’s expulsion in alleged cash for query scam is likely to be tabled in the Lok Sabha on Friday.

#TravelWithCNBCTV18

Indonesia plans to waive visas for Indian, Chinese and American travellers

Indonesia is planning to let more nationalities enter the country without visas, reversing an earlier tightening of entry rules, to attract more tourism spending.

The government is proposing to add 20 countries to the list, including the US, China and India, said Tourism Minister Sandiaga Uno after a cabinet meeting on Thursday. A few Middle Eastern countries could also be included, he added.

Now, Greece may issue temporary visas to boost tourism, but for only travelers from this country

Greece plans to make it easier for Turkish citizens to visit some of the Aegean islands for a limited period of time by granting them a temporary visa, people familiar with the matter said.

The initiative, which would revive an earlier procedure, may be announced during the visit by Turkish President Recep Tayyip Erdogan to Athens on Thursday for the High-Level Cooperation Council, people familiar with the move said, on the condition of anonymity. The European Commission has approved Athens’ decision to grant this temporary visa, one of them added.

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