Business highlights

Following are the top business stories at 2020 hours: DEL48 BIZ-3RDLD RBI RBI keeps interest rate unchanged, cuts GDP growth forecast Mumbai: The Reserve Bank of India (RBI) on Friday kept borrowing costs unchanged at a record low for the 11th time in a row in a bid to continue supporting economic growth despite inflation edging higher in the aftermath of Russia's war in Ukraine.

DEL97 BIZ-2ND LD TAX-COLLECTION Tax revenues soar 34 pc to record Rs 27.07 lakh cr in FY22; tax-GDP ratio highest in 2 decades New Delhi: India's gross tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31, led by impressive growth in corporate tax and customs, taking the tax-to-GDP ratio to an over two-decade high of 11.7 per cent, Revenue Secretary Tarun Bajaj said on Friday.

DEL96 BIZ-LD-RUPEE Rupee rises by 10 paise to 75.93 against USD amid RBI maintaining status quo Mumbai: The rupee appreciated 10 paise to settle at 75.93 against the US dollar on Friday, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate.

DEL47 BIZ-LD RBI INFLATION RBI ups inflation projection to 5.7 pc on global geopolitical tensions Mumbai: With geopolitical tensions clouding the price situation, the Reserve Bank of India (RBI) has raised the retail inflation projection for the current financial year to 5.7 per cent from earlier forecast of 4.5 per cent, though it expects moderation in prices of cereals and pulses on a likely record harvest of winter season (rabi) crop.

DEL80 BIZ-2NDLD IHC-ADANI-INVEST IHC to invest $2 bn in Adani Group's green portfolio New Delhi: Abu Dhabi-based conglomerate International Holding Company will invest USD 2 billion in three green-focused companies of Adani Group, helping tycoon Gautam Adani's units fund expansion plans.

DEL76 BIZ-LD STOCKS Sensex snaps 3-session slide as RBI maintains status quo; logs weekly loss Mumbai: Equity benchmarks posted smart gains on Friday after three days of losses as the RBI kept the policy rate unchanged at a record low and maintained its accommodative stance but flagged inflationary pressures amid the Russia-Ukraine war.

DEL95 BIZ-FOREX-RESERVES Forex reserves slide USD 11.17 bln to USD 606.475 bn, steepest fall in a week Mumbai: In the steepest weekly fall ever, India's forex reserves slid by USD 11.173 billion to USD 606.475 billion as the currency came under pressure due to geopolitical developments, according to the Reserve Bank data released on Friday.

DEL67 BIZ-RBI-RUSSIA RBI says sensitive to economic sanctions on Russia, no formal rupee-rouble payment platform in place yet Mumbai: The Reserve Bank is working with the government to thrash out a payment settlement solution for Indo-Russian trade, which is hit by the economic sanctions imposed on Moscow after it invaded Ukraine, but asserted that any such solution will be 'sensitive' to the prevailing economic blockade, the central bank said.

DEL66 CAB-FORTIFIED-RICE Govt approves scheme to distribute fortified rice under govt programmes New Delhi: The Union Cabinet on Friday approved a scheme to distribute fortified rice under government programmes in three phases, Information and Broadcasting Minister Anurag Thakur said.

DEL99 BIZ-RBI-LD CARDLESS Card-less cash withdrawal facility across all banks' ATM network soon: RBI Mumbai: In a bid to check fraud, the Reserve Bank on Friday decided to permit all banks to introduce card-less cash withdrawal through ATMs.

DCM5 BIZ-BHARATPE Ashneer Grover writes to Bharatpe board for action against CEO, demands chairman's resignation New Delhi: Former Bharatpe chief Ashneer Grover has written to the company's board seeking action against CEO Suhail Sameer following his offensive remarks on social media and sought resignation of chairman Rajnish Kumar.

DEL82 BIZ-GOLD-PRICE Gold declines marginally by Rs 35; silver jumps Rs 295 New Delhi: Gold prices in the national capital on Friday declined marginally by Rs 35 to Rs 51,697 per 10 grams amid rupee appreciation, according to HDFC Securities.