RBI Cuts Repo Rate by 25 bps
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🗞️ RBI cuts repo rate by 25 bps
The RBI MPC has cut the repo rate by 25 basis points, citing moderating inflation and the need to support growth as global conditions soften.
💬 Expert Take — “The cut was widely anticipated and may boost credit demand, but the RBI will remain cautious if food inflation risks re-emerge.”
🗞️ Fino Payments Bank gets RBI nod to become SFB
Fino Payments Bank has received in-principle approval from the RBI to convert into a Small Finance Bank (SFB), enabling it to expand lending operations and access low-cost deposits.
🗞️ India in talks with 8 more nations for UPI acceptance
India is engaging with eight additional countries to enable UPI payments abroad, strengthening India’s global digital payments footprint.
🗞️ RBI to launch 2-month campaign for grievance resolution
The RBI will launch a two-month Ombudsman campaign to clear pending complaints and improve customer service standards across financial institutions.
🗞️ Meesho IPO subscribed 79 times
The Meesho IPO closed with 79x overall subscription, while the QIB segment was subscribed 120x, reaffirming strong institutional interest.
💬 Expert Take — “This level of demand signals deep liquidity and confidence in India’s new-age digital businesses.”
🗞️ Markets surge after RBI rate cut
Equity markets rallied as the RBI’s 25 bps rate cut boosted sentiment. Banks and rate-sensitive sectors led the gains.
🗞️ Foreign firms’ remote services not taxable without India presence
The Delhi High Court ruled that foreign firms providing remote services cannot be taxed in India unless they have a physical presence or a permanent establishment.
🗞️ Govt issues clarification on 8th Pay Commission concerns
The Finance Ministry issued a clarification regarding confusion around pension revision and Terms of Reference (ToR), stating there is no change in the existing framework at this stage.
📊 Market Update
📈 Sensex: 85,712.37 ▲ 447.05 pts (+0.52%)
📈 Nifty 50: 26,186.45 ▲ 152.70 pts (+0.59%)
🪙 Gold (per gram): 24K ₹12,993 ▲ ₹27 | 22K ₹11,910 ▲ ₹25
🥈 Silver (per kg): ₹1,87,000 ▼ ₹4,000