The business wrap: RBI keeps repo rate unchanged, and six other top stories
Other headlines: The Cabinet would decide on central government employees' allowance structure today, and Sahara was asked to refund money to a home buyer.
A look at the headlines in the sector right now:
- Reserve Bank of India keeps key repo rate unchanged at 6.25%: Governor Urjit Patel said the Monetary Policy Committee wanted to keep the rate on hold until further clarity that is expected to ‘emerge with coming data’.
- Narendra Modi Cabinet to decide on allowances for central government employees: The Seventh Pay Commission recommended a 14.27% hike in basic pay for central government employees, the lowest in 70 years.
- Consumer body asks Sahara to pay over Rs 1.43 crore for not giving possession of bungalow: Sahara Prime City Ltd was supposed to have given the complainant the property by May 2012, but did not even finish constructing it.
- Plastic rice allegedly being sold in Andhra Pradesh and Telengana: Rumours went viral on social media that plastic rice was being sold on a large-scale at various stores in Andhra Pradesh.
- WhatsApp will add new feature allowing users to recall messages within a five-minute window: Users will be able to retract texts, images, GIF files, documents, quoted messages and status replies within a five-minute window.
- Uber fires more than 20 employees, including senior executives, after sexual harassment probe: The company said of the 215 complaints that law firm Perkin Coie received, at least 47 were related to harassment.
- Adani’s mine decision nothing but a ‘stunt to grab public funds’, say Environmental groups: Greenpeace Australia said Adani was yet to confirm financing for the project.