Tuesday, September 01
The Reserve Bank of India (RBI) is expected to maintain the repo rate at 5.50 per cent in its upcoming monetary policy announcement on Friday, according to a report by Bank of Baroda.The report said the central bank is likely to retain its current neutral stance as well.It stated, "We expect the RBI to keep the repo rate steady at 5.50 per cent in its Dec'25. The stance is also expected to be maintained at neutral".The report noted that India's economic performance has remained strong, with GDP growth coming in at 8.2 per cent in the second quarter of FY26, surpassing market expectations.The momentum is likely to have continued in the third quarter as well, supported by improved urban consumption and resilient rural demand. The report also pointed out that private investment is showing sig
Uzma Khanum, sister of PTI founder Imran Khan, on Tuesday confirmed that former Prime Minister of Pakistan, her jailed brother, was "perfectly fine" after she was allowed to meet him, Dawn reported.She was accompanied by a group of PTI supporters who gathered outside Adiala Jail while she went inside to see the former prime minister.Speaking to the media after the meeting, Uzma said, "Imran Khan's health is perfectly fine. However, he was very angry and said that they are subjecting him to mental torture."She added that Imran remained confined to his room most of the day with limited time outside and no communication with anyone. Uzma said the meeting lasted around 30 minutes.The visit took place as PTI staged demonstrations outside the Islamabad High Court and Adiala Jail against restrict
The government on Tuesday decided to exercise green shoe option with clear intention to divest 6 per cent stake in Bank of Maharashtra (BoM) through offer-for-sale following overwhelming response from investors on the first day of subscription. The OFS of BoM opened for subscription earlier on Tuesday for non-retail investors at a floor price of Rs 54 per share. On the first day, it subscribed over 400 per cent of the base size 38.46 crore shares, triggering exercise of green shoe option of additional 1 per cent. The issue was subscribed 4.07 times of the base size, reflecting strong market confidence. Given the oversubscription, the government has exercised the green shoe option in full, taking the total divestment to 6 per cent of BoM's paid-up capital, an official statement said. This w
The India Bullion and Jewellers Association (IBJA) on Tuesday announced the establishment of a self regulatory division for the digital gold industry in the wake of Sebi warning investors that digital gold products are neither regulated as securities nor as commodity derivatives and such products fall outside its jurisdiction and do not benefit from investor-protection mechanisms available for Sebi-regulated gold instruments such as gold ETFs, electronic gold receipts, or exchange-traded derivatives.On November 11, IBJA had written to Sebi, urging the markets regulator to bring digital gold providers under its ambit or any other formal regulator, saying the move could dispel fears that consumers are being duped.Now the association itself has decided to set up a self-regulatory division to
In an interview last year, Jeff Bezos made a novel suggestion: Let the world’s richest be listed not by the fortunes they amass for themselves, but by the wealth they create for others. This is an interesting way of looking at wealth creation. The institutions of markets and the joint stock corporation allow an entrepreneur to seek capital from others in pursuit of his/her idea. If the enterprise flounders, the investors lose. And if it succeeds, the entrepreneur, or in the case of multi-generational businesses, the family concerned, creates wealth for shareholders—their partners in the journey. Conventional rich lists overlook the wealth an entrepreneur creates for others.In the process of making a couple of hundred billion dollars for Bezos, Amazon has made its investors richer by ov
Humanity’s future lies in some of the most vulnerable spots on the planet.We’ve seen that in stark relief of late. A United Nations report last month concluded that the world’s population is increasingly crowded into a group of often low-lying, middle-income megacities in Asia and Africa.Jakarta and Dhaka dethroned Tokyo’s long-held status as the world’s biggest city, with 42 million, 37 million and 33 million people respectively.Mexico City and Sao Paulo were overtaken by Shanghai and Cairo among the global top 10. Bangkok, Delhi, Karachi, Lagos, Luanda and Manila were some of the fastest growing among metropolises of more than 10 million.Many of these very regions have been hit by a devastating run of floods in recent weeks. The monsoon belt from Southeast Asia to West Africa i
