The Reserve Bank of India kept key lending rates —repo rate and reverse repo rate —unchanged at 4 percent and 3.35 percent, respectively on Thursday. The central bank has projected 7.8 percent GDP growth in FY23, which is lower than the Finance Ministry’s estimate of 8 to 8.5 percent.

Investors cheered the RBI's status quo on key interest rates and policy stance with most rate-sensitive stocks rising. This pushed the headline indices higher.

Meanwhile, RBI Governor Shaktikanta Das said inflation is expected to peak in Q4 of FY22 and it shall moderate in the second half of FY23. According to him, the food prices are easing and that is adding to optimism but the hardening crude oil prices is a major upside risk.

The central bank maintained its critical stance on cryptocurrency and said it is a huge threat to macroeconomic and financial stability. He warned that cryptocurrency investors must keep in mind that they are investing at their own risk and that there’s no underlying for such assets.

The first phase of Uttar Pradesh Assembly elections 2022 was held today in western UP across 58 constituencies in 11 districts. About 58 percent of voters cast their ballot in this phase of polling, which covered the Jat-dominated belt of UP's western region.

Meanwhile, in Punjab, Arvind Kejriwal's wife and daughter will campaign in Dhuri on Friday for Aam Aadmi Party’s chief ministerial candidate in the state Bhagwant Mann.

On the auto sector front, the Centre has selected 20 companies across passenger vehicle, two-wheeler, and new non-automotive companies under the PLI scheme. The Rs 25,938 crore Automotive PLI Scheme will be rolled out from April 1, 2022, for a period of five years.

CNBC-TV18 has exclusively learnt that M&M, Tata Motors, Ashok Leyland, JBM Electric Vehicles, Hyundai India, Pinnacle Mobility, Suzuki Motor Gujarat, VECV, PCA Automobiles and Kia India have been selected.

Also, a study has found more than a third of Indian consumers have expressed interest in electric vehicles. This comes in line with India's focus on environment-friendly, self-manufactured and sustainable solutions post-pandemic. According to the Deloitte study, 59 percent of the Indian consumers were concerned about climate change, pollution levels, and gasoline/diesel vehicles emissions.

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