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Today's top stories include RBI's rate cut, Infosys layoffs, forex news among others.
The RBI's Monetary Policy Committee cut the benchmark repo rate by 25 basis points, while maintaining its neutral stance.
Photo Credit: Vijay Sartape/ NDTV Profit
India's foreign exchange reserves rose to $630.61 billion for the week ended Jan. 31, as per the data released by the RBI on Friday.
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The RBI's Monetary Policy Committee reduced the benchmark lending rate for the first time in five years in an attempt to boost sluggish economic growth, comforted by easing inflation expectations.
Photo Credit: Vijay Sartape/NDTV Profit
The NSE Nifty 50 closed 43.40 points or 0.18% down at 23,559.95 and the BSE Sensex settled 197.97 points or 0.25% lower at 77,860.19.
Photo Credit: Vijay Sartape/NDTV Profit
One of the key stakeholders who would be involved in deliberations with the 8th Pay Commission may push for a fitment factor of 2.0 for the revision of salaries of central government employees bracketed under Pay Band 1.
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US job growth moderated in January after annual revisions from the government revealed less vigor in the labour market last year than previously thought.
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JM Financial has released its expectations for the upcoming MSCI India Standard Index rebalancing.
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Infosys Ltd. has confirmed to NDTV Profit that over 300 employees were let go and that there was no forceful termination, contrary to earlier reports.
Photo Credit: Vivek Amare/NDTV Profit