The Karnataka State Natural Disaster Monitoring Centre (KSNDMC) has issued a red alert for coastal Karnataka due to expected extremely heavy rainfall on June 22, with thunderstorms, lightning, and gusty winds predicted at isolated places statewide. The India Meteorological Department (IMD) forecasts heavy to very heavy rains in coastal and adjacent districts of interior Karnataka between June 21 and June 25, with potential for widespread rainfall and landslides.
The Reserve Bank of India's (RBI) Monetary Policy Committee members raised concerns about inflation pressures due to "exceptionally" warm summers, impacting perishable goods and crop output, as per their latest meeting minutes. RBI Governor Shaktikanta Das expects retail inflation to moderate to 4.5% in FY25 but warns of near-term challenges.
India's foreign ministry has emphasized the importance of peace on its border with China for normal relations. The country has been pressuring India to restart direct passenger flights with China, but New Delhi is resisting due to the ongoing border dispute. The tense relationship between India and China has been strained since the largest military confrontation in decades on their disputed Himalayan border in June 2020.
The Nifty Bank index closed 0.24 per cent down at 51661.45.
AAP leader Sanjay Singh accused PM Modi of undermining justice system as Delhi HC halted a trial court's bail to CM Arvind Kejriwal in money laundering case. Singh claimed BJP's conspiracy, demanded apology. He criticized ED's challenge to the court order before its publication, alleging false evidence to target AAP.
Vedanta Resources, which holds a majority stake in Vedanta, is reportedly considering selling a 4-5% stake in the company. The deal could be facilitated by an international bank and is expected to capitalise on the recent surge in Vedanta's share price.
Gennadiy Goldberg, head of U.S. rates strategy at TD Securities, warns of a potential severe debt ceiling standoff in the U.S. in 2025, similar to the 2011 crisis, which could lead to another sovereign credit rating downgrade. Despite Congress suspending the debt ceiling until 2025, concerns over rising U.S. debt persist following forecasts by the Congressional Budget Office of significant deficits for fiscal years 2024 and 2025.
The NPS auto choice option is suitable for those NPS subscribers who find it difficult to decide when and how much to invest in each asset class. As the equity exposure reduces each passing year, the NPS subscriber does not need to manage the allocation according to the risk appetite actively. Now the equity exposure in the Balanced Life Cycle Fund has been increased till the age of 45. So several young NPS customers will benefit from it.
India on Friday was critical of the Canadian parliament observing "one minute silence" in the memory of Khalistan extremist Hardeep Singh Nijjar, who was gunned down in Surrey, British Columbia, in June last year. "We naturally oppose any moves giving political space to extremism and advocacy of violence," External Affairs Ministry spokesperson Randhir Jaiswal said.
Retail inflation for agricultural labourers and rural workers in India remained flat at 7.7% and 7.02% in May, respectively, compared to 7.03% and 6.96% a month ago. The point-on-point inflation rate for CPI-AL was recorded at 7.0% in May 2024, while for CPI-RL, it was at 7.02%. The main items driving the indices were vegetables, pulses, wheat, onion, milk, turmeric, ginger, fish fresh, jowar, pan leaf, medicines, shirting cloth, saree, and leather chappal.
The benchmark Sensex index fell on Friday, dropping about 269 points to close at 77,209. Despite the market downturn, four stocks in the BSE capital goods index reached their highest prices in the past year.
Non-banking finance companies (NBFCs) were advised by RBI executive director R Lakshmi Kanth Rao to prioritize compliance, risk management, liquidity management, and customer protection. Rao emphasized the regulatory differences between banks and NBFCs, noting the need for NBFCs to enhance compliance systems and balance business with prudence.
Earn FD interest rate up to 9.50%: Banks offer higher interest rates to senior citizen customers on fixed deposits than to general citizens.
The Kremlin on Friday criticised the US decision to ban Moscow's cybersecurity firm Kaspersky over security concerns as creating "unfair competition" from American companies. "Kaspersky Lab is a company which is very, very competitive on the international level," Kremlin spokesman Dmitry Peskov said.
Putin drives Kim Jong-un in a Russian-built Aurus limousine, gifting him the car. Their ride highlights growing Russia-North Korea ties and includes discussions on deepening military cooperation.
India's foreign exchange reserves saw a notable decrease of $2.92 billion to reach $652.9 billion as of June 14, according to data from the Reserve Bank of India. This followed a significant increase of $24.3 billion in the previous week, pushing reserves to a record high of $655.8 billion as of June 7.
Bachchan, known for his seminal work "Madhushala," joined the Indian Foreign Service (IFS) in 1955 with a monthly salary of Rs 1,000—a significant increase from his previous job at All India Radio (AIR). Bachchan's primary responsibility at the MEA involved translating speeches for the president and vice president. In fact, he coined the commonly used Hindi term 'Videsh Mantralaya' for the Ministry of External Affairs.
Former Pakistan captain Mohammad Hafeez defended his criticism of Virat Kohli for being 'selfish' during an ICC ODI World Cup match against South Africa. Kohli was the top scorer in the tournament with 765 runs. Netizens had mixed reactions to Hafeez's comments, also criticizing Pakistani players like Mohammad Rizwan and Babar Azam for playing for personal milestones.
Karnataka Deputy Chief Minister D K Shivakumar has decided not to contest in the Channapatna bypoll, questioning the need for bye-elections in Kanakapura. He expressed his commitment to his current constituency and emphasized the importance of people's support in his political career, amidst speculations and criticisms from various political figures.
The European Commission plans to impose provisional duties on electric vehicles (EVs) from China, ranging from 17.4% to 38.1%, in addition to the existing 10% tariff. These duties are set to take effect by July 4 as part of an anti-subsidy investigation to protect EU industry. Following publication of findings on July 4, interested parties have until July 18 to comment before final duties are determined.
The Nifty Pharma index closed 0.08 per cent down at 19528.4.
After surpassing giants like Microsoft and Apple, Nvidia has become more valuable than some of largest global markets.
After surpassing giants like Microsoft and Apple, Nvidia has become more valuable than some of largest global markets.
Pine Labs is reportedly considering a US IPO that could value the company at over $6 billion. The offering is expected to include both new and secondary shares, and the company may pursue a pre-IPO funding round.
