NDTV Profit Pulse On March 5—Top 8 Stories At 8 P.M. Under 8 Minutes

Indian markets snapped a prolonged downturn as key indices turned positive, setting the stage for a dynamic day ahead. The RBI will inject further liquidity into the banking system by conducting open market operation purchase auctions and long-tenure dollar-rupee buy/sell swaps.

China reaffirmed its steady growth target for 2025, and Ola Electric is streamlining operations to cut costs amid softer sales. Add to that evolving tax-saving manoeuvres among high earners, potential air conditioner shortages, and a proposed tax bill set to expand digital oversight.

Here are the top 8 stories under 8 minutes:

RBI's Liquidity Boost

The Reserve Bank of India said on Monday that it will inject further liquidity into the banking system by conducting open market operation purchase auctions and long-tenure dollar-rupee buy/sell swaps.

The RBI will conduct OMO purchases of government securities worth Rs 1 lakh crore in two tranches of Rs 50,000 crore each. The first auction will be held on March 12 and the second by March 18. Further, the central bank has also decided to hold a dollar-rupee buy/sell swap auction of $10 billion for 36 months to be held on March 24.

This followed a similar $10 billion swap conducted earlier this week. Read RBI's full announcement.

RBI's Credit Line Concern

The Reserve Bank of India has flagged issues with non-bank lenders offering perpetual credit lines, where borrowers can access funds indefinitely without fixed repayment schedules.

The regulator is concerned that such lending structures could lead to evergreening of loans, as borrowers may use new credit to repay existing dues. Read more on RBI's stance.

Digital Data Rules Finalised

The government has completed public consultations on the Digital Personal Data Protection regulations, with no further extensions for comments.

The final rules will be released soon, shaping India's data protection framework. Stay updated on the next steps.

Nifty Ends 10-Day Losing Streak

Nifty 50 rose 1.15% to 22,337, while Sensex gained 1.01% to close at 73,730, snapping the longest losing streak in 29 years.

All sectoral indices ended higher, led by Nifty Metal and Nifty Media. Read more on today's market rebound.

China's Growth Target

China has set its GDP growth target at about 5% for 2025, marking the third consecutive year at this level despite trade tensions with the US.

The government also set its fiscal deficit target at around 4% of GDP, the highest in over three decades. Read more on China's economic plans.

High Earners' Tax Play

High-salaried individuals are increasingly using Section 80GGC of the Income Tax Act to claim deductions on donations to political parties. This provision, which only applies under the old tax regime, has existed for years but is now gaining traction as a tax-saving route.

Intermediaries have emerged to facilitate these transactions, with political parties returning up to 95% of the donation in cash. Learn how this practice is evolving.

AC Shortage Looms

India may face air conditioner shortages by mid-April as manufacturers struggle with delays in compressor and component shipments. Companies like Voltas, Blue Star, and Panasonic can manage a 25-30% demand rise but warn that a larger surge could lead to stock shortages.

With summer demand rising fast, the industry is closely watching supply chain disruptions. Find out what top manufacturers are saying.

Tax Bill's Digital Reach

The proposed Income Tax Bill, 2025, may grant tax officials access to emails and social media if they suspect undisclosed income. The new rules could take effect from April 1, 2026.

Clause 247 allows officials to override access codes for digital accounts, including banking, trading, and cloud storage. See what this means for taxpayers.

Here are other top stories of the day that you cannot miss

• Trade setup for March 6: Nifty's stiff resistance zones to be 22,520 and 22,720.

• Gold worth Rs 12.56 crore seized from Kannada actress at Bengaluru Airport.

• Market correction not attributable to US; some pockets overheated, says UTI AMC's Tyagi.

• Tariff wars may hit BFSI tech spending, slowing Indian IT's growth.

• Government approves Kedarnath ropeway project worth Rs 4,000 crore.

• Oyo expects to post Rs 1,100 crore profit in FY26, says founder Ritesh Agarwal.

• Buyers of newly-launched housing units rise; Bengaluru, Chennai lead.