Top headlines: FDI equity inflow contracts, no increment for Flipkart execs

Flipkart will not be handing out increments to its senior leadership in the Grade 10 and above category — that includes roles as diverse as managers to vice-presidents — in a ‘difficult decision’ that is likely to impact 4,500 personnel. Read more

The minutes of the Monetary Policy Committee (MPC)’s Feb 6-8 meeting showed an increasing degree of concern among most members over persistent inflationary pressures, with the rate-setting panel largely flagging stubbornly high core inflation. At the conclusion of the meeting on February 8, the six-member MPC announced a 25-basis-point hike in the repo rate to 6.50 per cent, taking the total quantum of tightening since May 2022 to 250 basis points. Read more

The government is considering the option of inviting fresh applications to bid for the fourth slot which fell vacant after one of the initial candidates who qualified, Hyundai Global Motors, exited from the production linked incentive (PLI) scheme for advanced chemistry cell battery storage with a capacity of 20 GWH. Read more

Foreign direct investment (FDI) in equity during the first three quarters of this fiscal year declined 15 per cent year-on-year to $36.75 billion, according to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT) on Wednesday. Read more

The Ministry of Electronics and Information Technology (MeitY) on Wednesday invited proposals to take up the task of estimating the size of India’s digital economy as well as the rankings and measurement of the share of the states in this area.