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RBI keeps key policy rate on hold, despite falling currency

MUMBAI, June 5 (Reuters) – The RBI (Reserve Bank of India) on Friday kept its policy repo rate unchanged at 5.25%, opting to look past rupee weakness and ​assess the fallout from rising global energy costs on inflation and growth. Nearly 80% of 56 ‌economists polled by Reuters expected the RBI’s monetary policy committee to hold the repo rate. All six members of the rate panel, which includes three RBI officials and three external appointees, voted to hold rates. The MPC decided to continue with its “neutral” ​stance. “The RBI’s rate panel noted that the global environment has deteriorated,” RBI

Rupee rises 11 paise to 95.63 against US dollar after RBI rate pause

Mumbai, Jun 5 (PTI) The rupee appreciated 11 paise to 95.63 against the US dollar in early trade on Friday after RBI rate pause, while there has also been encouraging news from the India-US trade discussions. Forex traders said the 96.00 zone remains a strong resistance area for USDINR and if the RBI signals a cautious approach toward inflation and currency stability in its policy decision, the rupee could gradually move back towards the 95.00-95.20 region in the near term. At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.63 in initial trade, registering a rise

Stock markets climb in early trade after RBI rate pause

Mumbai, Jun 5 (PTI) Stock market benchmark indices Sensex and Nifty traded higher in early deals on Friday after the RBI kept the key policy rate on hold ​and maintained a “neutral” stance, despite ​a falling currency. The 30-share BSE Sensex climbed 269.93 points to 74,629.94 in opening trade. The 50-share NSE Nifty went up by 62.4 points to 23,478.95. From the 30-Sensex firms, Tech Mahindra, Bajaj Finance, Mahindra & Mahindra, Bajaj Finserv, Eternal and Adani Ports were among the biggest gainers. Tata Steel, Trent, InterGlobe Aviation and Reliance Industries were among the laggards. Brent crude, the global oil benchmark,

UN report warns AI could soon use 3pc of world’s electricity, more water than we need to drink

Hamilton (New Zealand), Jun 5 (The Conversation) One argument often used to quell concerns about the rising energy and resource demand of data centres is that artificial intelligence (AI) models will need less in the future as they improve and become more efficient. But this seemingly logical thinking is a trap, according to a new United Nations report that quantifies the environmental costs of AI. The report estimates that by 2030, AI’s energy use could double to consume 3% of the world’s electricity, produce emissions to equal the UK and deplete more water for cooling than the annual drinking water

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