NEWS

New Delhi: Home loans and other borrowings are going to be cheaper with the Reserve Bank of India's monetary policy committee (MPC) bringing down its policy rate by 25 basis points.

Following the announcement, the policy repo rate— the rate at which RBI lends to banks—stands reduced to 6.0% from 6.25%, the lowest since November 2010. Consequently, the reverse repo rate—the rate at which RBI borrows from banks stands adjusted to 5.75%.

New Delhi:The Supreme Court has directed mining companies to pay a compensation of nearly Rs 17,576 crore for indulging in illegal extraction of iron and manganese ore in Odisha since 2001.

A bench of Justices Madan B Lokur and Deepak Gupta ruled that the companies would be liable to pay back 100 percent of the price of mineral extracted by them in violation of law. It rejected the plea of Centre and SC-appointed Central Empowered Committee (CEC) that only 30 percent value of the mineral be recovered from the companies.

New Delhi: Union Minister of State for External Affairs Gen VK Singh (retired) has told Lok Sabha that there are 75 missing Indian defence personnel, including 54 prisoners of war, who are believed to be in Pakistan's custody.

However, presence of these missing Indians has not been acknowledged so far by Pakistan, Singh said in a written reply.He also said that as of July 27, there are 417 fishermen in Pakistan's custody and 15 fishermen in Sri Lanka's custody, who are believed to be Indian nationals.

New Delhi: The Reserve Bank of India in its 3rd bi-monthly monetary policy decision of FY 2017-18 on Wednesday reduced the Repo Rate under the Liquidity Adjustment Facility by 25 basis points from 6.25 percent to 6.0 percent, citing reduction in upside risk to inflation. This move is expected to lower EMIs for home, auto and personal loans. This is the first rate cut since October 2016 and the interest rate is now at 6-year low.

In line with record low retail inflation, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent.