The Reserve Bank of India’s Monetary Policy Committee (MPC) is expected to maintain the status quo on the benchmark repo rate at 6.5% in its upcoming meeting from December 4 to 6. Despite India's GDP growth slowing to 5.4% in the July-September quarter, economists suggest that inflation concerns will likely take precedence, making a rate cut unlikely in December. Retail inflation rose to 6.2% in October, exceeding the RBI’s target range of 2-6%. Though a repo rate cu

The rapid increase in satellites and space junk is threatening the future of Low Earth Orbit (LEO), the most accessible region of space. Experts and industry insiders have raised alarms, stating that without international cooperation and data sharing, LEO could soon become overcrowded and unsafe. According to the United Nations, more than 14,000 satellites, along with over 120 million pieces of debris, are already in orbit, with many more expected in the coming years. This growing congestion

Presidential Pardon: A Constitutional Authority The U.S. Constitution grants presidents the power to issue pardons for federal crimes, excluding cases of impeachment. Over the years, presidents have used this authority to pardon political allies, friends, and donors. However, Biden's pardon of his son represents a significant departure from historical norms. In a statement, President Biden claimed that his son’s legal troubles stemmed from poli

RBL Bank and Bajaj Finance Ltd. have mutually decided to stop issuing new co-branded credit cards following discussions that have taken place over the past month. While the change will not affect RBL Bank’s overall credit card business, it marks the end of a significant partnership that previously accounted for a large portion of RBL Bank’s card issuances. As of September 2023, Bajaj Finserv co-branded cards represented 41% of RBL Bank’s total credit card issuances.

The Indian rupee opened flat at 84.24 against the US dollar on Thursday, following a slight dip of 11 paise to close at 84.45 on Wednesday. On Tuesday, it had closed at 84.34. The minor decline reflects the ongoing volatility in the foreign exchange market. The rupee had also opened weaker by 5 paise at 84.39 on Wednesday morning. Analysts predict that the rupee's range for the day will likely stay between 84.30 and 84.50. Anil Kumar Bhansali, head of treasury and executive dire

The Reserve Bank of India (RBI) has cancelled the registration certificates of two non-banking financial companies (NBFCs)—Ulhas Securities Pvt. and Sikar Investment Co.. The registration of Ulhas Securities, based in Gandhinagar, Gujarat, was granted in December 2003, while Sikar Investment, based in Bharatpur, Rajasthan, had been registered in March 1998. The cancellation was carried out under Section 45-IA (6) of the Reserve Bank of India Act, 1934, which allows the RBI to

In just two days, equity investors faced a staggering loss of ₹13 lakh crore in market valuation as the BSE benchmark Sensex saw a sharp 2.27% drop. The benchmark index shed 1,805.2 points, with a 984.23-point decline on Wednesday, November 13, 2024, ending at 77,690.95. Experts cited soaring retail inflation, which hit a 14-month high of 6.21% in October, persistent foreign fund outflows, and muted corporate earnings as the primary reasons behind the significant market correction

The Indian rupee opened at 84.39 against the US dollar on Wednesday, remaining near its all-time low of 84.4162. The Reserve Bank of India (RBI) is continuing its efforts to stabilize the currency, with analysts Amit Pabari and Anil Kumar Bhansali suggesting that the ce

The Reserve Bank of India (RBI) has reported an increase in its gold reserves, which now stand at 854.73 metric tonnes as of September 2024, up from 822.10 metric tonnes in March 2024. According to the half-yearly report on the management of foreign exchange reserves released on Tuesday, this increase indicates a strategic shift by the central bank amid rising geopolitical tensions, persistent inflation, and a stable interest rate environment. Out of the total gold reserves, 510.46

The Reserve Bank of India (RBI) has reduced its GDP growth forecast for India to 6.8% for the second quarter of fiscal 2024-25, a decrease of 20 basis points. In its October bulletin titled "State of the Economy," the RBI attributed this revision to a slackening momentum observed in some high-frequency indicators, which were partially impacted by unusual heavy rainfall in August and September. This latest forecast is lower than the previous projection of 7% made by RBI Gov

The Reserve Bank of India (RBI) has taken a significant step by barring four non-banking financial companies (NBFCs) from sanctioning and disbursing loans starting October 21. The companies affected include Asirvad Micro Finance, Navi Finserv, Arohan Financial Services, and DMI Finance. This action comes in light of serious supervisory concerns related to high lending rates and non-compliance with regulatory standards. In a press release, the RBI emphasized its ongoing commitment to

The Reserve Bank of India (RBI) is taking a cautious approach to inflation management following a slight rise in the latest inflation readings. During a policy address on Wednesday, RBI Governor Shaktikanta Das emphasized the need to keep inflation on a "tight leash" due to potential upside risks stemming from adverse weather conditions and ongoing geopolitical tensions. In August, India's retail inflation, measured by the Consumer Price Index (CPI), edged up to 3.65%,