ModiWatch: Prime Minister Narendra Modi virtually laid the foundation stone for development projects worth over ₹7,600 crore ($914 million) in Maharashtra on Wednesday.

RBI holds repo rate steady, projects 7.2% GDP growth

RBI keeps repo rate steady for tenth straight time: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) maintained the repo rate at 6.50% for the tenth time. The MPC changed its monetary policy stance from ‘withdrawal of accommodation’ to ‘neutral.’ RBI Governor Shaktikanta Das noted that yields on 10-year government bonds eased, influenced by the US Federal Reserve's policy shift and India’s fiscal measures.

RBI maintains retail inflation projection at 4.5% for FY 2024-25: RBI has retained the retail inflation projection at 4.5% for fiscal year 2024-25, with Governor Das emphasising the need to keep inflation in check.

RBI projects 7.2% GDP growth for FY25: RBI has projected India’s real Gross Domestic Product (GDP) growth for FY25 at 7.2%, with inflation expected to moderate to 4.5%.

RBI governor warns NBFCs over unsustainable growth practices: RBI Governor Das cautioned non-banking financial companies (NBFCs) on Wednesday against using unsustainable strategies to drive growth. He urged NBFCs, including microfinance institutions (MFIs) and housing finance companies (HFCs), to prioritise sustainable goals, risk management, and customer satisfaction, while maintaining a “compliance-first” culture.

RBI to bridge climate data gap with new information system: RBI plans to launch the Reserve Bank – Climate Risk Information System (RB-CRIS) to address fragmented climate data. The system will include a publicly accessible web directory and a data portal with standardised datasets, available in phases to regulated entities, announced RBI Governor Das.

Don't miss our in-depth analysis of the RBI's latest monetary policy decision:

Saini set to lead BJP’s third term in Haryana

BJP’s Nayab Singh Saini set to lead Haryana: Haryana Chief Minister Nayab Singh Saini met PM Modi on Wednesday, ahead of his likely swearing-in as head of the Bharatiya Janata Party (BJP) government. Saini, who replaced Manohar Lal Khattar in March, is expected to continue in the top role after the BJP secured its third consecutive victory in the state.

National Conference vows to push for statehood restoration: Omar Abdullah, Vice President of the National Conference (NC), announced that the NC-Congress government will seek to pass a resolution demanding the restoration of Jammu and Kashmir’s statehood during its first cabinet meeting.

Aam Aadmi Party to contest Delhi Assembly elections independently: The Aam Aadmi Party (AAP) has announced that it will contest the upcoming Delhi Assembly elections on its own.

Samajwadi Party announces candidates for Uttar Pradesh bypolls: A day after the Assembly poll results in Haryana and Jammu and Kashmir, the Samajwadi Party (SP) released its candidate list for six of the ten Assembly seats in Uttar Pradesh, where by-elections will take place later this year. The SP, part of the Indian National Developmental Inclusive Alliance (INDIA) bloc, plans to contest the bypolls with the Congress, which is seeking five seats from the party.

India's largest IPO

Hyundai to launch India's largest IPO, aims for $19 billion valuation: Hyundai Motor Company plans to make India a global manufacturing hub as it prepares to launch its Initial Public Offering (IPO) next week. The South Korean carmaker will sell up to 17.5% of its stake in the local entity, targeting a valuation of $19 billion, with the IPO expected to raise around $3 billion. This will be India's largest-ever IPO.

Sitharaman to EU: Not so fast!

Sitharaman slams EU’s carbon border plan: Finance Minister Nirmala Sitharaman criticised the European Union’s Carbon Border Adjustment Mechanism (CBAM) and deforestation rules as “unilateral” and harmful to countries like India, potentially hindering economic growth and green energy transition. Sitharaman assured that these concerns won’t derail the Free Trade Agreement (FTA) talks.

Rajya Sabha: Not in session.

Lok Sabha: Not in session.

Delhi Today: Hazy sun.

Explore India's solar energy ambitions in our latest article: