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News wrap Oct 8: Tatas win Air India bid; RBI projects inflation at 5.3%; TCS Q2 profit up by 6.8% and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

News wrap Oct 8: Tatas win Air India bid; RBI projects inflation at 5.3%; TCS Q2 profit up by 6.8% and more
The Reserve Bank of India on Friday retained the 'accommodative' stance, kept the key lending rate unchanged and projects inflation at 5.3 percent. Meanwhile, Reliance Industries became India's most valuable company with a market cap of Rs 18 lakh crore. Tata Consultancy Services today reported a net profit of Rs 9,624 crore for the September quarter whereas Tata Sons won the Air India bid. For all these stories and everything in between, here are some top news of the day 
ECONOMY
RBI October Monetary Policy: Central bank retains 'accommodative' stance
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the fourth bi-monthly policy meet for the financial year 2021-22, governor Shaktikanta Das said on Friday. Details here
RBI projects inflation at 5.3% for FY22
The Reserve Bank of India (RBI) has projected the Consumer Price Index (CPI) inflation at 5.3 percent for the financial year 2022, lower than the 5.7 percent estimated earlier. Check our projections for separate quarters here
Tata Sons bags Air India
The Narendra Modi government on Friday announced that Tata Sons is the winning bidder for debt-laden national carrier Air India. Continue reading

MARKETS
Reliance Industries roars: Market cap at Rs 18 lakh crore as shares surge
Reliance Industries shares scaled over 4 percent Friday, taking its market cap at Rs 18 lakh crore, cementing its position as India's most valuable company. Dig deeper
TCS Q2 Results: Net profit up 6.8% QoQ at Rs 9,624 crore
Tata Consultancy Services (TCS) -- the country's largest IT company -- on Friday reported a net profit of Rs 9,624 crore for the quarter ended September 30, missing Street estimates. That marked growth of 6.8 percent compared with the previous quarter. Read more 
MobiKwik gets SEBI nod for IPO
Digital payments company MobiKwik has received approval from the Securities and Exchange Board of India (Sebi) to float an initial public offering (IPO), sources told CNBT-TV18. Dig deeper

INDIA
Supreme Court on Lakhimpur Kheri violence: Not satisfied with steps taken by UP government
The Supreme Court on Friday said it is not satisfied with the steps taken by the Uttar Pradesh government in the Lakhimpur Kheri violence case in which eight persons were killed on October 3 and questioned it over not arresting the accused against whom FIR has been lodged. Read more
Indian states suffer power cuts as coal stocks shrink
North Indian states have suffered electricity cuts and face further outages because of a lack of coal, an analysis of government data and interviews with residents found, contradicting government assurances there is enough power. Dig deeper
Mumbai cruise drugs case: Court refuses bail to Aryan Khan, two others
A metropolitan magistrate on Friday denied bail to Aryan Khan, son of Bollywood actor Shah Rukh Khan, and two others in a case pertaining to the alleged seizure of banned drugs from a cruise ship off the Mumbai coast. Read more 
WORLD
Over 100 killed and wounded in mosque blast in northeastern Afghanistan
A suicide bomb tore through a mosque in Afghanistan's northeastern Kunduz province on Friday, killing or wounding more than 100 people, a UN agency said. Read more 
Philippines, Russian journalist win 2021 Nobel Peace Prize
Philippines journalist Maria Ressa and Russian journalist Dmitry Muratov, won the 2021 Nobel Peace Prize on Friday for their courageous fight for freedom of expression in the Philippines and Russia. Read more 
US Justice Dept launches new initiatives on cryptocurrencies, contractor hacks
US Deputy Attorney General Lisa Monaco unveiled two new Justice Department enforcement initiatives aimed targeting cryptocurrencies and government contractors who fail to report cyber breaches. Read more
YOU & I
RBI keeps repo rate unchanged. Should home buyers cheer?
It’s a moment to cheer for homebuyers as the Reserve Bank of India (RBI) kept the repo rate unchanged at 4 percent in October's bi-monthly monetary policy announced on Friday. The status quo on the interest rate front means the low home loan interest rates regime will continue in the market and help foster housing demand during the ongoing festive season. Read more
Sale or no sale: When do you shop online?
Many are on a shopping spree as e-commerce firms Amazon, Flipkart and Myntra have gone with their mega-festival season sales. While many fall for impulse buying, there are also a few who wait for the sale to end or do not care so much about it anyway. Which category do you belong to? Find out here 
View | How much do you need to retire early?
Do you want to live the same lifestyle you have today for the rest of your life? If so, whatever you end up spending on, keep a watch on the inflation in the future. You must prepare for that! Here's how 
Note To Readers

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