Government and RBI have launched new measures to attract foreign investment in bonds and bank deposits. These initiatives aim to boost inflows by easing regulations and offering currency protection. The rupee strengthened significantly following the announcements, with potential for substantial retail deposit growth. Tax exemptions for foreign investors on government securities are also in place.
The Reserve Bank of India is introducing new rules for bank deposit interest rates. Banks must now publish their interest rate schedules online each morning and stick to them throughout the day. This ensures customers know the exact rates available. Additionally, banks can now consider withdrawal risk when setting rates for large deposits, adding a
The Indian government is preparing further policy steps to protect the economy from the West Asia conflict. These measures will ensure sufficient availability of goods and raw materials. The focus is on stabilizing the Indian currency and foreign exchange flows. Additional measures will be announced as needed. The government is closely monitoring trade deficits and
A shocking incident in Mohali saw a 30-year-old woman, Dimple, brutally stabbed to death by a colleague just days before her wedding. The attack, captured on CCTV, occurred at her office desk. The assailant, Harvinder Mann, then attempted suicide and is in critical condition. Investigations suggest a rejected reconciliation attempt led to the tragic event.
Government and RBI measures to boost foreign investment in government securities led to a bond rally, with benchmark 10-year G-Sec yields softening. Exemptions from long-term capital gains and withholding taxes for FPIs in G-Secs, along with expanded investment options, are seen as positive for the fixed income market.
Leading mutual fund houses, including HDFC, ICICI Prudential, and Nippon India, are temporarily restricting large lump-sum investments in gold ETFs and fund of funds. This move aligns with the government’s policy to discourage gold purchases, following an increase in import duty. The restrictions primarily target large investors, with exceptions for authorized participants and market makers,
SpaceX has secured a significant cloud-services deal with Google, agreeing to a monthly payment of $920 million for computing power through mid-2029. This agreement, covering approximately 110,000 NVIDIA GPUs and other components, aims to meet surging customer demand for Google’s AI products.
The RBI maintained the repo rate at 5.25% amidst economic slowdown fears and rising inflation risks from the West Asia conflict. Governor Sanjay Malhotra signaled concern over generalized inflation, cutting the FY27 growth forecast to 6.6% and raising inflation projections to 5.1%.
