RBI delivers a surprise ‘jumbo' rate cut; EMIs to fall
This 50-basis-point (0.5%) reduction is the steepest rate cut by the RBI since the emergency 75-basis-point easing in March 2020, when the economy was under severe strain due to the Covid pandemic.
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Time of India
3 hours ago
- Time of India
Ayurvedic & herbal products manufacturers in Indore ramp up production as Covid cases increase
Indore: As Covid-19 cases are witnessing an uptick, manufacturers of Ayurvedic and herbal products in Indore have ramped up their production capacities, anticipating a surge in demand for immunity-boosting products. Usually, summers remain the lean season for immunity booster syrups and tablets, but the resurgence of Covid-19 cases led to a jump in enquiries, prompting many units to prepare for increased production ahead of their usual season. Ayush Nirmata Sangh secretary Ashish Dubey said, "We are anticipating a surge in demand for immunity boosters as cases of Covid-19 again started to increase. Many units started preparations and are gradually increasing production." Another manufacturer owner of a local Ayurvedic firm Ravi Kumar said, "We saw an increase in enquiries for our immunity products. To meet this demand, we are expanding our operations to ensure we can deliver quality products to our customers promptly. Also, monsoon and winters are main demand period of Ayurvedic products when demand rises." Industry insiders noted that if the consumption of these products would not meet their expectations, they would still find a market during the monsoon and winter seasons when the demand for syrups and immunity boosters typically spikes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Ayurvedic products produced in Indore are distributed across various states in India, including Delhi, Punjab, Maharashtra, Uttar Pradesh, and Uttarakhand, according to local manufacturers. In response to the heightened demand, many manufacturing units are transitioning to automatic production processes, while others are opting for semi-automatic configurations to enhance efficiency. Indore is home to around 240 Ayurvedic medicine manufacturing units, with the total market size exceeding an impressive Rs 1000 crore, as reported by Ayush Nirmata Sangh.
Business Standard
5 hours ago
- Business Standard
RBI to raise gold lending LTV to 85% for loans under Rs 2.5 lakh
The Reserve Bank of India (RBI) on Friday increased the loan-to-value (LTV) ratio on gold loans up to Rs 2.5 lakh to 85 per cent per borrower, up from the 75 per cent proposed in the draft norms issued in April this year. For gold loans more than Rs 2.5 lakh and up to Rs 5 lakh, the LTV ratio has been set at 80 per cent. For loans more than Rs 5 lakh, the central bank has set an LTV of 75 per cent. The RBI said that the new norms will come into effect from April 1, 2026.
United News of India
6 hours ago
- United News of India
Bangladesh ex-PM Hasina slams CA Yunus for destroying country's economy
Dhaka, June 7 (UNI) Former Bangladesh Prime Minister Sheikh Hasina has slammed Chief Advisor Mohammed Yunus for his speech announcing April 2026 for the national polls, and asserted that he has destroyed the country's economy, caused massive social instability, and is destroying its very history and identity. Rejecting Yunus's claims that the country's economy was in shambles before he came to power in August last year, Hasina said: 'I saw his speech today. Yunus was trying to make excuses for his misdeeds.' 'His remarks do not match the reality. He claimed that the economy was shattered when he came to power. How is it possible? Rather, our economy was in the strongest position,' she added, reports Daily Republic. Highlighting the success of her tenure, and her efforts in uplifting the country's economy, she said 'He has destroyed the economy so much that he could not surpass my last budget worth Tk7,97,000 crore (USD 7.954 billion); rather, he reduced it. The budget does not go downwards. 'When I took office in 2009, Bangladesh's budget was only Tk68,000 crore (USD 5.576 billion), and it rose to Tk7,97,000 crore. In South Asia, Bangladesh's economy became the second, ninth in Asia, and 35th in the world,' the former PM added. She further stated that Bangladesh's GDP was growing by 8% prior to the COVID-19 pandemic, and despite the pandemic, the global crash of stocks, and the further deterioration caused by the Russia-Ukraine war, she was able to keep the economic growth at 6.7%. 'The Awami League increased per capita income to $2,794 from $445 in 2009. In 2023, Bangladesh's GDP rose to 7.4%. Due to extensive pro-people programmes, poverty was reduced to 18% and extreme poverty to 5%.' Recalling the UN General Assembly verdict about Bangladesh's economic status, she said that under her Awami League government, the country was finally recognised as a developing nation, and one of the fastest growing economies in the world. Bashing the CA for disrupting the country's economic growth, she said 'He has destroyed the country's economy', adding that the prices of essentials goods is sky high, and unemployment rate has drastically gone up. 'During the Awami League tenure, a day labourer or rickshaw-puller could earn enough to arrange three meals for the family. Now they cannot earn money for one meal. 'We reduced the poverty rate. He has increased it.' Calling the CA a 'very smart liar', she said that inflation in the country had drastically gone up since Yunus took office, increasing up to 14% as opposed to its earlier rate of 8-9%. Condemning his government's use of mob violence as a tool for political gains, and calling his rule a 'mobocracy', she called him 'Mob King Yunus', rubbishing his claims that all her development projects in the country as PM were named after Sheikh Mujibur Rahman because he was her father. Stating that it was a way of showing respect and acknowledging his contributions, Hasina said 'Yunus claims that I named everything after my relatives, parents, and siblings. It is not true. The Father of the Nation brought us independence. You cannot wipe out the name of Bangabandhu no matter how hard you try. 'History takes its own course. Today, you are trying to wipe out the memory of Bangabandhu and remove his name from everywhere. Where do you stand? The name Bangladesh was given by Bangabandhu.' UNI ANV RN
