Business news update; Share Market, Gold Silver Rate, Petrol Diesel, GDP, Sensex, Nifty | GDP growth was 6.2% in the third quarter: Tuhin Kant Pandey will be the new SEBI chief, the market fell for the first time since 1996

Yesterday’s big news was related to GDP. The GDP growth in the October-December quarter of FY 2024-2025 was 6.2%. It was 8.4% in the same quarter of a year ago (Q3 FY24). At the same time, the Central Government has announced the appointment of Finance Secretary Tuhin Kant Pandey as the next SEBII chief. Tuhin will hold this position for the next 3 years. He will replace the current SEBI Chief Madhabi Puri Buch.

Today’s headlines before tomorrow’s big news, which will be seen …

Now read the big news of tomorrow …

1. GDP growth was 6.2% in the third quarter: It was 5.4% in the second quarter, estimated to increase at a rate of 6.5% in 2024-2025

The GDP growth in the October-December quarter of FY 2024-2025 was 6.2%. It was 8.4% in the same quarter of a year ago (Q3 FY24). On Friday 28 February, the National Statistics Office (NSO) released these data.

The financial year 2024-2025 is estimated to increase at a rate of 6.5% of the economy. Earlier, in the estimate released in January, the growth rate for 2024-25 was estimated at 6.4%, which is a 4-year low. The GDP growth rate was 8.2% in the last financial year 2023-24.

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2. Tuhin Kant Pandey will be the new Sebi Chief: There will be a 3 -year term; Madhabi will replace Madhabi Buch retiring on February 28

The Central Government has announced the appointment of Finance Secretary Tuhin Kant Pandey as the next Security and Exchange Board of India (SEBI) chief. Tuhin will hold this position for the next 3 years. He will replace the current SEBI Chief Madhabi Puri Buch. Who are retiring on 28 February.

Tuhin Kant Pandey is a 1987 batch IAS officer of Odisha cadre. He is one of the busiest secretaries in India in the Modi 3.0 government. They are currently handling four important departments in the central government. He was appointed to the post of Finance Secretary on 7 September 2024.

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3. Market dropped for the first time since 1996: more than 20% decline in Auto-FMCG, foreign investors investing in Chinese market

Today i.e. on February 28, the Sensex fell 1414 points (1.90%) to close at 73,198. The Nifty also fell 420 points (1.86%) to close at 22,124. Since October 2024, the Nifty has closed down every month. It has fallen 12% in 5 months.

This is the first time since 1996 that the market has declined five consecutive months. Earlier in 1996, between July to November, the market had a 5 -consecutive decline decline. The Nifty 50 index fell 26% during these 5 months.

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4. Gold falls ₹ 1,537 to ₹ 84,056: Gold became cheaper ₹ 2,677 in 10 days; Silver ₹ 1,568 to ₹ 93,480 kg

The price of gold and silver declined on 28 February (Friday). According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams 24 carat gold has fallen by Rs 1,537 to Rs 84,056. Yesterday the price of gold was at Rs 85,593. At the same time, gold has fallen by Rs 2,677 from its alltime high so far. On February 19, Gold made an all -time high of Rs 86,733.

At the same time, the price of one kilo of silver fell by Rs 1,568 to Rs 93,480 per kg today. Yesterday silver was Rs 95,048 per kg. Silver has also become cheaper by Rs 5,671 so far. Silver made his all -time high on 23 October 2024, when it reached Rs 99,151 per kg.

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5. Sensex fell 1414 points to close at 73,198: Nifty came down at 22,124 below 420 points; Investors wealth decreased by Rs 8.95 lakh crore

The Sensex declined by 1414 points (1.90%) on Friday (February 28) on the last trading day of the week. It closed at 73,198 levels. The Nifty also fell 420 points (1.86%) to close at 22,124.

The BSE small cap declined by 1,028 points (2.33%), it closed at 43,082 levels. The mid cap also declined by 853 points (2.16%), closing at 38,592 levels.

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6. 8.25% interest on deposits in PF account: ₹ 8,250 interest will be available on ₹ 1 lakh deposit, no change for the first time in two years

The interest rate on the amount deposited in the PF account for FY 2024-25 has been retained by 8.25%. The Central Board of Trustee of the Employees Provident Fund Organization (EPFO) took this decision at the meeting on Friday (February 28). Earlier, the interest rate for Finance-Year 2023-24 was increased from 8.15% to 0.10% to 8.25%. In 2022-23, it was increased from 8.10% to 0.05% to 8.15%.

According to 8.25% interest rate, if your EPF account is deposited 1 lakh rupees, then it will get an interest of Rs 8,250 in a year. For FY 2021-22, the government had reduced the interest rate on PF to 8.10%, which was the lowest level of 43 years. Around 7 crore employees of the country come under the purview of PF.

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Tomorrow, see who should be the top-10 richest in the world…

Know the condition of tomorrow’s stock market and gold and silver …

Know the latest price of petrol-diesel and gas cylinders …