Top headlines: RBI keeps interest rates unchanged; BoI posts profit in Q4

RBI keeps interest rates unchanged, announces measures to support economy


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RBI keeps interest rates unchanged, announces measures to support economy

The Reserve Bank of India (RBI) on Friday left key interest rates unchanged at record lows and announced new measures to support the economy after the nascent recovery was pummelled by the devastating second wave of COVID-19 infections.

It brought down its forecast for economic growth by 100 basis points to a 9.5 per cent real GDP growth in the current fiscal year ending March 31, 2022, while the inflation forecast was bumped up by 10 bps to 5.1 per cent. Read more

Bank of India posts Rs 250 cr profit in Q4

State-owned Bank of India reported a standalone profit after tax of Rs 250 crore for March quarter 2020-21 as bad loans shrunk.

The lender had incurred a standalone loss of Rs 3,571 crore in the year-ago period. For financial year 2020-21, net profit stood at Rs 2,160 crore as against net loss of Rs 2,957 crore in the previous year. Read more

Class 12 boards: CBSE sets up 13-member panel to set assessment criteria, report to be submitted in 10 days

The Central Board of Secondary Education (CBSE) on Friday constituted a 13-member committee to work out an objective criteria for assessment of class 12 students after their board exams were cancelled in view of the pandemic.

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The panel will submit its report within 10 days.

“In view of the uncertain conditions due to Covid and the feedback obtained from various stakeholders, it was decided that class 12 board exams of CBSE will not be held this year. It was also decided that CBSE will take steps to compile the results as per a well defined objective criteria in a time-bound manner,” said CBSE Examination Controller Sanyam Bhardwaj, who is also a member of the panel. Read more

HC dismisses lawsuit filed by Juhi Chawla against 5G network technology, imposes cost of Rs 20 lakh

The Delhi High Court Friday dismissed with a cost of Rs 20 lakh actress Juhi Chawla’s lawsuit challenging 5G wireless network technology and said the plea was defective and filed for gaining publicity.

Justice J R Midha said the plaintiffs — Chawla and two others — have abused and misused the process of law and wasted the court’s time. Read more

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