Connect with us

Business

Central bank action will spur investment, growth: Jaitley

Published

9 years ago

on

New Delhi: Welcoming the Reserve Bank of India’s decision to cut short-term lending rates by 50 basis points, Finance Minister Arun Jaitley said on Tuesday this will support growth, while showing that inflationary pressures were now moderating.

The finance minister also welcomed the decision to allow the corporate sector to issue rupee-denominated bonds in overseas markets, often called “Masala Bonds”, and said it will give access to additional credit for India Inc.

“Today’s rate cut will boost investment and growth,” Jaitley said, soon after the 4th bi-monthly monetary policy update by Reserve Bank of India Governor Raghuram Rajan, adding that the government would like to see commercial banks reciprocating with own interest rate cuts.

“We are looking forward now to the transmission of these cuts, which will help boost economy and confidence,” the finance minister added.

The central bank cut by 50 basis points its repurchase rate, or the interest charged on short-term borrowings, to 6.75 percent, which automatically cut the indexed reverse repo rate, or the interest payable by the central bank on short-term deposit, to 5.75 percent.

Speaking about the rupee-denominated bonds, Economic Affairs Secretary Shaktikanta Das said there was not only an appetite for such commercial paper in the global markets, but will also shied the corporate sector from currency fluctuations.

“This is also the first time that the foreign portfolio investors can invest in state-governments backed securities, which was a demand raised by state governments for a long time,” Das said, adding that could translate into an inflow of Rs.51,000 crore.

Related Topics:
Continue Reading

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

on

May 5, 2022

By

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending