Morning News from India - June 06, 2018 Tweet06 Jun 2018
- Sensex surges 275 points after RBI rate hike decision, Nifty ends at 10,684 (Livemint)
- India raises interest rates for first time since 2014 (Financial Times)
India’s crude oil bill has risen around 12 per cent since the last policy review in April as global oil prices have risen, while the rupee has depreciated against the dollar by 3 per cent.
- RBI’s statement (RBI)
increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25 per cent. …provisional estimates have placed GDP growth for Q4:2017-18 at 7.7 per cent – 70 basis points higher than that in Q3 – given the sharp acceleration in investment and construction activity. With improving capacity utilisation and credit offtake, investment activity is expected to remain robust even as there has been some tightening of financing conditions in recent months.
- Infosys says strict work visa norms will not constrain business growth (Livemint) - INFY
Tata Motors working on a dozen electric, hybrid vehicles (Economic Times) - TTM
- Few big players dominating digital payments is a risk, warns RBI (Economic Times)
WhatsApp’s payment plans delayed due to privacy fears at Facebook (Economic Times)
- Bezo’s letter to Indian consumers on the 5th anniversary - “India ki apni dukaan” (Amazon.in)
- Azim Premji mulls fresh $250mn Future deal; Biyani in talks with Amazon (Economic Times)
- Amazon is reportedly upping its investment in India by $2 billion (CNBC)