Business
RBI Monetary Policy: Repo rate, reverse repo rate remain unchanged, real GDP growth projected at 7.8%
The Reserve Bank of India on Thursday kept repo and reverse repo rates unchanged in its first monetary policy review after the 2022 Union Budget. The current 2021 repo rate is 4% and the reverse repo rate is 3.35%. This is the 10th time the RBI has kept lending rates unchanged and maintained an accommodative stance during the Covid-19 pandemic. However, experts expect the policy meeting to shift from an accommodative stance to a neutral stance.
Governor Shaktikanta Das said the pandemic is once again holding the world economy hostage. The Governor said real GDP growth is expected to be 7.8% in 2022-23.
Das downplayed the pandemic situation, saying the general focus during a pandemic is shifting to targeted containment strategies, universal vaccinations and booster doses.
Economic activity in some sectors, including automobiles, two-wheelers, etc., has reportedly lost some momentum, and the Governor added that another surge in global crude oil prices needs to be closely watched.
The six-member Monetary Policy Committee, headed by Reserve Bank of India Governor Shaktikanta Das, began deliberations on the bimonthly policy review on Tuesday and announced it on Thursday. The Supreme Bank’s meeting was originally scheduled to take place from February 7 to February 9, but after the Maharashtra government declared February 7 a public holiday to mourn the passing of legendary singer Rata Mangeshkar delayed by a day.
Complete News Source : Hindustan Times
Tollywood
Pushpa 2 The Rule advance booking tracking better than RRR, Jawan in the US; crosses $1.4 million with 10 days to go
Pushpa 2 The Rule has already crossed $1.4 million in advance bookings in North America even though the release is 10 days away.
Allu Arjun‘s Pushpa 2: The Rule is still nine days from its theatrical release but is already breaking box office records. The film is set for a grand release worldwide, and if its US pre-sales are any indication, it will likely get a bumper opening. The film is already tracking better than blockbusters like RRR and Jawan in the US. (Also read: Pushpa 2 trailer reactions: Allu Arjun fans predict blockbuster, cheer for Fahadh Faasil’s entry scene)
Pushpa 2’s US tsunami
On Monday, trade tracker Venky Box Office shared the film’s advance booking collections for its US premiere. Taking to X (formerly Twitter), the trade analyst tweeted, “#Pushpa2TheRule USA Premiere Advance Sales: $1,383,949 – 900 Locations – 3420 Shows – 50008 Tickets Sold.”
By Sunday evening, Pushpa 2 had sold over 50,000 tickets in the US, with the release 10 days away. The tweet added that North American advance booking collections had crossed $1.458 million (around ₹12 crore), ‘which is a record’.
Trade analysts say that the film is set to cross $1.5 million with nine days to go, which means it is outpacing SS Rajamouli’s RRR and Shah Rukh Khan-starrer Jawan, the two biggest Indian movies in the US in recent times. Both films grossed over $15 million each in North America and are among the top five highest-grossing Indian films in the continent. Pushpa 2 is matching the pace of Shah Rukh’s other 2023 blockbuster, Pathaan, and is just behind the all-time record holder for India in the US – Baahubali 2 (which earned $20 million in the territory).
All about Pushpa 2: The Rise
Directed by Sukumar, Pushpa 2: The Rise is the sequel to the director’s 2021 pan-India hit Pushpa: The Rise. It brings back Allu Arjun as the titular anti-hero, alongside Rashmika Mandanna and Fahadh Fassil. The film, touted to be one of the biggest Indian productions ever, is set to hit the screens on December 5.
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