English हिन्दी
Connect with us

India News

Relief for borrowers as RBI slashes repo rate by 50 basis points

The Reserve Bank of India has cut the repo rate by 50 basis points to 5.5%, promising relief for borrowers and boosting optimism in the real estate market.

Published

on

Reserve Bank of India

In a significant move aimed at stimulating economic activity and easing the financial burden on borrowers, the Reserve Bank of India (RBI) has announced a 50 basis point cut in the repo rate, bringing it down to 5.5%. This decision, taken unanimously during the Monetary Policy Committee (MPC) meeting held from June 4 to 6, exceeds market expectations and is being seen as a proactive measure to support growth amid a softening inflation environment.

Major takeaway for homebuyers and borrowers

This steeper-than-expected rate cut is set to ease equated monthly installments (EMIs) on long-term loans, particularly home loans. With lending costs likely to fall, banks and financial institutions are expected to pass on the benefit to consumers, making borrowing more affordable. This move is especially encouraging for prospective homebuyers in the mid-income segment, who stand to gain from lower interest payments.

RBI outlook: Steady growth, easing inflation

RBI Governor Sanjay Malhotra explained that despite a fragile global economic backdrop and downward revisions in international trade forecasts, the Indian economy continues to show resilience. “India’s strength comes from the strong balance sheets of five major sectors. We are already growing fast and aspire to grow faster,” he remarked.

Inflation has remained within RBI’s comfort zone, with retail inflation falling to 3.16% in April from 3.34% in March. The central bank now projects the retail inflation for the current financial year at 3.7%, an improvement from its earlier forecast of 4%. Food inflation remains soft, and core inflation is expected to stay benign.

CRR reduction adds liquidity

In another key decision, the RBI also reduced the cash reserve ratio (CRR) by 100 basis points, effectively releasing ₹2.5 lakh crore into the banking system. This is likely to enhance liquidity and improve the capacity of banks to lend.

Sectoral impact: Real estate gets a boost

The real estate sector has welcomed the rate cut. According to experts, the move is likely to strengthen homebuyer sentiment, drive enquiries, and lead to an uptick in residential property sales, especially in urban markets. Vimal Nadar of Colliers India noted that the reduced borrowing costs could significantly improve affordability in mid-income housing.

Piyush Bothra, co-founder of Square Yards, highlighted that the decision will give developers confidence to launch new projects, particularly in low-to-mid housing segments. “A 50-bps reduction will translate into meaningful EMI savings,” he said.

India remains attractive for investors

Governor Malhotra underscored India’s appeal to global investors, noting that the country’s forex reserves stand at $691 billion—enough to cover over 11 months of goods imports. Key economic indicators including discretionary spending, private consumption, and industrial activity remain robust, he added.

While maintaining the GDP growth projection at 6.5% for the current financial year, the RBI outlined quarterly growth expectations as follows: 2.9% (April-June), 3.4% (July-September), 3.9% (October-December), and 4.4% (January-March).

India News

Rabri Devi removes new security detail after Z-plus cover withdrawal, Tejashwi Yadav follows suit

Former Bihar Chief Minister Rabri Devi and RJD leader Tejashwi Yadav reportedly removed newly assigned security personnel after the state government revised security cover for several political leaders, including Lalu Prasad Yadav.

Published

on

Rabri Devi

Former Bihar Chief Minister Rabri Devi has reportedly removed a newly deployed security team from her residence after the Bihar government revised the security cover provided to several political leaders in the state.

The move came days after a security review resulted in changes to the protection arrangements of several politicians, including RJD president Lalu Prasad Yadav. According to reports, Rabri Devi expressed displeasure over the withdrawal of the Z-plus security cover that had previously been provided to her and her husband.

Security cover revised after government review

The Bihar government recently conducted a review of security arrangements for a number of political leaders. Following the assessment, the security category of some leaders was altered based on the recommendations of security agencies.

As part of the exercise, the Z-plus cover earlier available to Lalu Prasad Yadav and Rabri Devi was reportedly withdrawn. Revised security arrangements were subsequently put in place by the administration.

However, reports suggest that Rabri Devi was unhappy with the changes and directed the newly assigned personnel to leave her residence.

Tejashwi Yadav also takes similar step

RJD leader Tejashwi Yadav is also reported to have objected to the revised security deployment. According to sources, he too asked the newly assigned security personnel to leave.

The development has triggered political discussion in Bihar, with the RJD questioning the rationale behind the changes in security arrangements for members of the Yadav family.

Political reactions expected

The security review comes at a time when Bihar’s political environment remains active ahead of upcoming electoral battles. While the state government has maintained that security decisions are based on assessments by agencies and established protocols, opposition leaders are expected to raise questions over the timing and nature of the changes.

No official indication has emerged suggesting a reversal of the revised security arrangements so far.

Continue Reading

India News

Cockroach Janta Party founder Abhijeet Dipke joins protest, 6 detained during demonstration

Abhijeet Dipke joined supporters at Jantar Mantar as the Cockroach Janta Party staged a protest in Delhi, during which six individuals were detained by police.

Published

on

Cockroach Janta Party (CJP) founder Abhijeet Dipke joined supporters at Delhi’s Jantar Mantar on Saturday as the organisation held a demonstration over examination and recruitment-related concerns. The protest took place under heightened security arrangements, with police detaining six individuals during the course of the gathering.

Supporters assembled at the designated protest venue to raise concerns over alleged irregularities in examinations and recruitment processes. The demonstration marked a significant public mobilisation by the organisation, which has gained attention in recent months through campaigns focused on issues affecting students and job aspirants.

Six detained amid tight security arrangements

Police maintained a strong presence around Jantar Mantar and surrounding areas ahead of the protest. Security personnel were deployed to monitor the gathering and ensure law and order during the demonstration.

According to reports, six protesters were detained during the event. Authorities closely monitored the situation as participants continued to gather at the venue. Despite the detentions, the protest remained largely peaceful.

Dipke joined supporters at the site and reiterated the group’s demand for greater transparency and accountability in examination and recruitment systems. Protesters also voiced concerns over issues related to educational governance and opportunities for young job seekers.

Protest highlights concerns of students and job aspirants

The demonstration drew participants from different regions who gathered to express concerns over examination-related controversies and recruitment processes. Organisers maintained that the protest was intended to be a peaceful and democratic expression of public grievances.

Addressing supporters, Dipke stressed the importance of continuing the movement through constitutional means and public engagement. Protesters carried banners and raised slogans highlighting their demands for reforms and greater accountability.

The event was held after authorities granted permission for the demonstration at Jantar Mantar, one of the capital’s designated venues for public protests. Security remained in place throughout the programme as officials monitored developments.

Continue Reading

Cricket news

Vaibhav Sooryavanshi’s India call-up hailed as a game changer by BCCI

BCCI has hailed Vaibhav Sooryavanshi’s selection in the Indian team as a significant moment for Indian cricket, rewarding the teenager’s outstanding performances in IPL 2026.

Published

on

Vaibhav suryavanshi123

The Board of Control for Cricket in India (BCCI) has welcomed the selection of teenage batting sensation Vaibhav Sooryavanshi in the Indian team, describing his rapid rise as a major positive development for the future of Indian cricket.

The 15-year-old earned his maiden senior national team call-up after a stunning IPL 2026 campaign that established him as one of the country’s most exciting young talents. His fearless batting and consistent performances throughout the tournament caught the attention of selectors and cricket experts alike.

BCCI secretary Devajit Saikia praised the youngster’s achievements, noting that exceptional performances are always rewarded. He highlighted that Sooryavanshi’s progress reflects the strength of India’s cricket development system and the opportunities available to emerging players.

Sooryavanshi’s selection comes after a season in which he produced remarkable numbers with the bat and played a crucial role for his franchise. His ability to handle pressure situations and score at a brisk pace made him one of the standout performers of the tournament.

The teenager’s inclusion in the national squad is being viewed as an important step in India’s efforts to build a strong pool of young talent for the future. Cricket observers believe the experience of being part of the senior setup will aid his development and help him adapt to the demands of international cricket.

His rise has generated significant excitement among fans, many of whom have followed his journey from age-group cricket to the IPL and now to the national team. The selection also underlines the growing trend of young players making a rapid transition to the highest level based on outstanding performances in domestic and franchise cricket.

With expectations high, Sooryavanshi will now look to make the most of the opportunity and continue the form that earned him recognition at the national level.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com