The Reserve Bank of India maintains its repo rate, Airtel Payments Bank reports a strong profit increase, SEBI amends investment fund norms, and the luxury home market in India is booming.
Mumbai, May 5, 2025 - The Indian Express reports on key developments in the Indian business landscape. The Reserve Bank of India (RBI) has decided to hold the repo rate unchanged at 6.5% for the ninth consecutive meeting, citing persistent food inflation as a primary concern. RBI Governor Shaktikanta Das announced this decision following the Monetary Policy Committee meeting held from August 6-8, 2024, with a 4-2 majority vote. Consequently, the standing deposit facility rate remains at 6.25%, and the marginal standing facility rate and Bank Rate at 6.75%.
Airtel Payments Bank announced a 41% year-on-year increase in net profit for the June quarter, reaching Rs 7.2 crore. This growth is attributed to the rise in digital savings bank accounts and other digital offerings. The bank's quarterly revenue surged to Rs 610 crore, a 52% increase compared to the previous year.
In other regulatory news, the Securities and Exchange Board of India (SEBI) has amended alternative investment funds (AIF) norms, specifying the maximum permissible limit for tenure extensions by 'Large Value Funds' for accredited investors. Such funds may now extend their tenure by up to five years, subject to approval by two-thirds of the unit holders based on the value of their investment. This move provides greater clarity to investors regarding their investment horizon.
The Indian government has dismissed the possibility of relaxing the tax demand issued to Infosys last month, stating that the demand aligns with Goods and Services Tax (GST) rules. Infosys has requested ten days to respond after meeting with tax officials.
Raymond Limited reported its fiscal first-quarter earnings, with a profit of Rs 57.04 crore, a 26.7% increase compared to Rs 45.02 crore during the same quarter of FY24. Revenue from operations stood at Rs 937.65 crore, a significant 98.1% growth. The company's Real Estate and Engineering business recorded a consolidated quarterly revenue of Rs 998 crore, a 93% increase, and an EBITDA of Rs 162 crore.
India’s export of petroleum products saw a marginal increase of 1% in the first four months of the fiscal year 2024-25, reaching 4.9 million barrels per day. July exports increased by 4% to 1.27 million barrels per day, with Southeast Asia, Europe, and the Middle East being the top destinations.
Finally, demand for luxury homes in India is experiencing rapid growth. Approximately 32,200 housing units were sold in the National Capital Region (NCR) in the first half of 2024, with over 45% in the luxury segment, compared to only 3% in 2019. Affordable housing sales accounted for 24% of the total, a significant decrease from 49% in 2019.
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