Tuesday, September 01
The RBI-led Monetary Policy Committee (MPC) on Friday concluded its three-day meeting and unanimously decided to cut the policy repo rate by 25 basis points to 5.25%, according to Governor Sanjay Malhotra.Consequently, the standing deposit facility (SDF) rate was revised to 5% from 5.25%, while both the marginal standing facility (MSF) rate and the Bank Rate were revised down to 5.5% from 5.75%.Explaining the rationale behind the rate cut, the RBI governor said, "The growth-inflation balance, especially the benign inflation outlook on both headline and core, continues to provide the policy space to support the growth momentum." The MPC also decided to maintain the policy stance as neutral, signalling how the central bank views the balance between price stability and growth support going fo
IndiGo on Friday announced automatic full refunds and a complete waiver on cancellations or rescheduling for travel between December 5 and 15, as the airline continued to reel from a massive operational meltdown now in its fourth day.The carrier issued a detailed public apology acknowledging a “serious operational crisis” that has stranded thousands of passengers at major airports. “We do deeply apologize and understand how difficult the past few days have been… While this will not get resolved overnight, we assure you that we will do everything in our capacity to bring our operations back to normal at the earliest,” it said.The fresh measures come on a day IndiGo cancelled around 500 flights nationwide, including all departures from Delhi Airport, after misjudging the rollout of
