The Reserve Bank of India’s Monetary Policy Committee (MPC), which is headed by RBI Governor Urjit Patel, is conducting its policy review meeting. The Fifth Bi-monthly Monetary Policy (2018-19) deliberations, which has started yesterday and led by the 6 member committee will last for 3 days and the decision of the MPC will be published in the afternoon of December 5. As per Equitypandit opinion, there will be no change in the status quo of Repo Rate, which is currently at 6.5 percent. Repo rate is the rate at which the Reserve Bank of India lends money to commercial banks in the event of any shortfall of funds. Also, no other major announcement from the Reserve Bank of India is expected after the conclusion of the meeting. RBI in its Fourth Bi-monthly Monetary Policy (2018-19) meeting, which concluded on 5th

Hindustan Unilever Limited (HUL), one of largest FMCG player in the country, has announced that its board has approved the merger with GlaxoSmithKline Consumer Healthcare (GSKCH India) through an-all equity deal, valuing the total business of the latter at Rs 31,700 crore. HUL said in the statement, "The Board of directors of the company, have considered and approved a scheme of amalgamation between the company and GlaxoSmithKline Consumer Healthcare Limited (GSK CH), and their respective shareholder and creditors (Scheme)." According to the HUL BSE filing, the merger of GSK CH India with HUL will be on a basis of an exchange ratio of 4.39 HUL shares for each GSK CH India Share, implying a total equity value of INR 317 billion for 100% of GSK CH India. Following the issue of new HUL shares, Unilever‘s hol

Global oil prices have marched towards its biggest two-day advance since June as the increasing concerns over a supply glut established after  OPEC and its allies announced to strike a deal to stabilize the market. Futures in New York inclined by around 1.3 per cent,  supported by Monday's 4 per cent gain. There is a speculation in the market that an accord between Saudi Arabian Crown Prince Mohammed bin Salman and Russian President Vladimir Putin might take place, regarding the production cuts when OPEC and its partners meet in Vienna on December 6. OPEC President and the United Arab Emirates Energy Minister Suhail Al Mazrouei stated that he is optimistic that an agreement between the Organization of Petroleum Exporting Countries and its allies will be reached. Meanwhile, Canadian province Alberta, which

The former IRDAI and LIC chief, TS Vijayan, has been appointed as Additional Director (Independent) in the YES Bank’s board. The private sector lender released a statement: “The appointment of TS Vijayan as an Independent Director on the board of YES Bank, with effect from December 3, 2018, for a period of five years, would be subject to approval of shareholders at the next general meeting of the bank.” Vijayan is also a member of the ‘Search and Selection Committee’, which is tasked to identify a suitable successor to the Managing Director and CEO for the bank. Rana Kapoor, the outgoing MD and CEO of YES Bank stated, “Vijayan’s induction on the board of directors will bring considerable expertise to the board, and board-level sub-committees.” After the appointment of TS Vijayan, the tally of d

Indian Prime Minister Narendra Modi attended a meeting with Japanese Prime Minister Shinzo Abe and US President Donald Trump on the sidelines of G20 summit 2018 in Argentina. As according to the Foreign Secretary’s media briefing, US President Trump and Japanese Prime Minister Abe complimented Prime Minister Narendra Modi for the reforms and the development work that has been done by him. The three leaders exchanged views on the Indo-Pacific. The three leaders also agreed that in order to accomplish peace and prosperity in the region, it is important to establish a free, open, inclusive and rules based order. The Indian Prime Minister presented some ideas on how to take the concept of the Indo-Pacific forward, where all the three countries can take part to promote the concept. Indian Prime Minister also prom

Indian Prime Minister Modi, President of Russian Federation Vladimir V Putin and President Xi Jinping of the People’s Republic of China, held a Trilateral Meeting During the 13th G20 summit at Buenos Aires. The three world leaders exchanged their views on expanding mutual cooperation in international forums and how to promote greater interaction among the three countries. The leaders of the three nations agreed on the importance of reforming and strengthening of multilateral institutions which include the United Nations, WTO as well as new global financial institutions. They also identified the benefits of a multilateral trading system and an open world economy for global growth and prosperity. The three leaders who sat for such a roundtable discussion for the 2nd time in its entirety and 12 years after the

An annual Informal Meeting between the Leaders of BRICS nations was held on the sidelines of the G20 summit in Buenos Aires. The meeting was attended by President Cyril Ramaphosa of South Africa, President Michel Temer of Brazil, President Vladimir Putin of Russia, President Xi Jinping of China and Prime Minister of India Narendra Modi. A joint statement was released by the BRICS leaders, which conveyed that views on various matters such as international politics, security and global economic-financial issues, as well as challenges facing sustainable development, were discussed among the leaders. Also, the commitment towards world peace and stability, playing a central role in the United Nations, abiding the UN Charter, promotions of democracy, showing respect for international law were strengthened. BRICS nat

Indian Prime Minister Narendra Modi presented a cooperation plan among the G-20 countries to efficiently and strongly menace fugitive economic offenders. The Nine Point Agenda focuses on strict and active cooperation in the legal processes such as effective freezing of the proceeds of crime; early return of the offenders and efficient repatriation of the proceeds of crime should be enhanced and streamlined across the G-20 countries. The agenda presented also presses on a joint effort by G-20 countries to restrict the entry and safe havens to all fugitive economic offenders through the form of proper mechanism. India made a stand to introduce FATF (Financial Action Task Force) into the mechanism to assign priority and focus on establishing international co-operation that leads to the timely and comprehensive excha