Top Headlines: RBI policy review today, Sebi orders audit of FRL, and more

Ahead of the RBI MPC's statement today, while market participants are certain about a rate hike, there are also growing calls for a shift in the central bank's stance. Read more in our top headlines

On August 5, the Reserve Bank of India (RBI) is expected to announce another rate hike as it plays catch up with other central banks to contain inflation and protect against further rupee depreciation. Ahead of the RBI MPC’s statement on Friday, while market participants are certain about a rate hike, there are also growing calls for a shift in the central bank’s stance. Read more in our top headlines

Call grows among market participants for shift in RBI's stance to neutral

Ahead of the Monetary Policy Committee’s (MPC’s) statement on Friday, while market participants are certain about a rate hike, there are also growing calls for a shift in the central bank’s stance. Economists and market watchers are divided on whether the RBI will announce a change in the stance of monetary policy. Read more 
 

Will RBI catch up with rest of the world on Friday in terms of rate hike?

On August 5, the Reserve Bank of India (RBI) is expected to announce another rate hike as it plays catch up with other central banks to contain inflation and protect against further rupee depreciation. While the US Federal Reserve raised rates by 75 basis points (bps) at its meeting in July, the European Central Bank (ECB) instituted its first rate hike in 11 years, as it increased the deposit rate by 50 bps. Read more

Indigo introduces three-way exit for flyers, saving turnaround time

Deboarding an aircraft from the left side has been a long-lasting practice in commercial aviation. But, this changed on Tuesday, perhaps for the first time, as passengers disembarked an IndiGo flight in Delhi from the right side on the front. IndiGo has worked on a three-door exit formula — two on the left and a front door on the right — to save at least five minutes of turnaround time per flight. Read more
 

Sebi orders forensic audit of FRL's financial statements of last 3 years

The Securities and Exchange Board of India (Sebi) has ordered a forensic audit of the financial statements of beleaguered Future Retail. “Sebi has reasonable grounds to believe that the disclosure of financial information and the business transactions in the matter of Future Retail, have been dealt with in a manner which may be detrimental to the interest of investors…” the regulator said. Read more
 

Lack of clarity on GST paid on liquidated damages may lead to litigation

The government has clarified the applicability of GST on various items, but its silence on the tax paid on liquidated damages in the past could lead to litigations. For transactions conducted from July 1, the CBIC has clarified that there will be no GST on liquidated damages — these are payments made by a supplier of goods or services to the receiver in case of breach of contract or delay in executing a contract. Read more