Business highlights

Following are the top business stories at 1955 hours: DEL81 BIZ-2NDLD RBI EMIs to rise as RBI hikes repo rate, signals more increase Mumbai: Home, auto and other loan EMIs will rise after the Reserve Bank of India (RBI) on Wednesday raised the key interest rate by 50 basis points, the second increase in five weeks, to rein in a rise in prices that was seen continuing to hurt consumers in the near term.

DEL83 BIZ-LD RBI-CREDIT CARD RBI allows credit cards to be linked with UPI; says banks will decide pricing Mumbai: The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface (UPI), which will enable more people to make payments using the popular platform.

DEL76 BIZ-RBI-PETROL RBI Guv bats for cut in state taxes on petrol, diesel New Delhi: Lending support to the Union government's pitch for states to reduce sales tax (VAT) on petrol and diesel, Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said a cut in VAT on fuel will help soften inflationary pressures as well as expectations.

DEL82 CAB-LD MSP Govt hikes paddy MSP by Rs 100/quintal for 2022-23 New Delhi: The government on Wednesday hiked the minimum support price (MSP) for paddy by Rs 100 to Rs 2,040 per quintal for 2022-23 crop year in order to encourage farmers to bring more area under the crop and boost their income.

DEL78 BIZ-LD STOCKS Markets recoil for 4th day as RBI hikes rate, flags inflationary risks Mumbai: Equity benchmarks lurched lower for the fourth session on the trot on Wednesday after the RBI hiked the policy rate on expected lines but sharply raised the inflation forecast for the current fiscal amid geopolitical tensions and supply chain issues.

DEL96 BIZ-LD RUPEE Rupee rebounds from record low, spurts 10 paise to 77.68 vs USD Mumbai: Recovering from its lifetime low, the rupee advanced 10 paise to settle at 77.68 against the US dollar on Wednesday after the RBI raised the interest rate by 50 basis points to tame inflation.

DCM18 BIZ-FM-POLICIES Govt's enabling policies, proactive steps helped India deal with pandemic: FM New Delhi: Enabling policies and proactive steps taken by the government -- including corporate tax cuts and digitisation of the economy -- helped the country deal with the unprecedented situation arising due to the pandemic, Finance Minister Nirmala Sitharaman said on Wednesday. DCM15 BIZ-BPCL-PRIVATISATION BPCL winds up data room after govt puts off privatisation New Delhi: State-owned Bharat Petroleum Corporation Ltd (BPCL) has discontinued all activities associated with the disinvestment of the company after the government dropped plans to privatise the firm for now.

DEL70 BIZ-GOLD-PRICE Gold marginally higher by Rs 30; silver gains Rs 133 New Delhi: Gold prices in the national capital on Wednesday inched up by Rs 30 to Rs 50,818 per 10 grams, according to HDFC Securities.