India's Growth Pace Slows Down, Not Just Due to RBI Rate: Das
In a significant revelation, outgoing Reserve Bank Governor Shaktikanta Das has revealed that the country's growth slowdown is due to multiple factors and not just because of the central bank's repo rate. This comes as India navigates its economic landscape amidst fluctuating global market conditions.
The RBI Approves Religare Acquisition Amid Regulatory Renewals
In another significant news, the Reserve Bank of India (RBI) has cleared a 26% stake acquisition in Religare Enterprises Ltd by the Burman family entities under its open offer. This development marks a crucial step in the country's consolidation efforts, bringing forward-thinking businesses closer together.
Stock Market Closes Flat Amid Uncertainty
The Bombay Stock Exchange (BSE) indices ended unchanged on Tuesday, with select heavyweight stocks seeing some buying activity. Analysts noted that uncertainty surrounding various economic factors contributed to this mixed market performance.
Rupee Remains Unchanged as Markets Rebalance
In foreign exchange markets, the Indian rupee traded flat at 84.85 against the US dollar on Tuesday, hovering near all-time lows reached in recent months. Industry experts attributed this slight improvement to anticipated changes in monetary policy by the Reserve Bank of India.
India's Aviation Sector Eyes Strong Growth Amid New Directions
The International Air Transport Association (IATA) welcomed prospects for robust growth in the Indian aviation sector. IATA Chief Willie Walsh praised the country's potential, stating that aspiring pilots should explore its "fascinating" landscape given its substantial aircraft ordering capabilities by domestic airlines.
New RBI Governor to Take Charge, Focusing on Perspective-Building
As Sanjay Malhotra begins his tenure as the new Reserve Bank of India Governor on December 11, he vowed to understand all stakeholders' perspectives and prioritize economic stability. This stance reflects a commitment to fostering collaboration with key government institutions.
Central Banks' Ties Are ‘At Their Best Under My Watch': Das
Outgoing RBI Governor Shaktikanta Das credited his efforts with strengthening Mint Road's ties to the finance ministry in his six-year tenure, showcasing a strong relationship that helped advance economic interests.
Gold Prices Hike as Global Trends Shape Indian Markets
With rising international demand and domestic buyers stirring, gold prices on Tuesday climbed Rs 820 to hit Rs 79,780 per 10 grams. Silver saw an equally significant increase, responding positively to broader global market trends.