Biz Updates: RBI may give 2.5 lakh crore dividend; OPEC cuts crude oil demand estimate
New Delhi| The Reserve Bank of India (RBI) may pay a record dividend of Rs 2.50 lakh crore to the central government for the last financial year 2024-25. For 2023-24, RBI had released a dividend of Rs 2.11 lakh crore, more than double the amount released in FY2023.
OPEC reduced the demand estimate of crude oil
OPEC has cut crude oil demand projections for 2025 and 2026 from 1.5 million to 1.3 million barrels a day, anticipating a slowdown in the global economy due to retaliatory tariffs.
OPEC reduced the demand estimate of crude oil
OPEC has cut crude oil demand projections for 2025 and 2026 from 1.5 million to 1.3 million barrels a day, anticipating a slowdown in the global economy due to retaliatory tariffs.
Small towns’ influence in hospitality transactions increased
The influence of small towns has increased in the hospitality sector of the country last year. According to JLL, second – and third-tier cities accounted for half of all hotel transactions in 2024. There were 25 deals in 2024. Very wealthy individuals, family offices and private hotel owners accounted for 51 per cent of this.
Four percent reduction in the number of unsold houses
The number of unsold houses declined by four per cent to around 5.6 lakh units in the January-March, 2025 quarter on the back of strong sales in seven major cities of the country. According to data from Anarock, home sales in these cities declined by 28 percent to 93,280 units during this time.
Dr. Reddy Lab to cut employee expenses by 25 percent
Drug company Dr. Reddy Lab has launched a campaign to cut staff-related expenses by about 25 per cent. This could save the company 1,300 crore annually. According to sources, high paying employees in various departments have been asked to resign. These also include many employees whose annual income is more than one crore. The cut has also affected the company’s R&D department. Voluntary retirement has been proposed to staff of the Department aged between 50 and 55. However, the company has termed these claims as false.
