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RBI cuts policy rate by 25 bps to 6 pc, second in a row

Mumbai, Apr 9 (PTI) The RBI on Wednesday slashed key interest rate by 25 basis points, for the second time in a row, to support a shuttering economy hit by reciprocal tariffs imposed by the US. Following the rate cut, the key policy rate eased to 6 per cent providing relief to home, auto and corporate loan borrowers. In its last policy in February, RBI had trimmed repo rate by 25 basis points to 6.25 per cent. This rate came after previous rate reduction in May 2020. The last revision of rates happened in February 2023 when the policy rate

Sensex, Nifty slump in early trade tracking weak Asian peers

Mumbai, Apr 9 (PTI) Benchmark equity indices slumped in early trade on Wednesday after a day’s breather in line with losses in Asian markets amid escalating trade tensions as domestic investors eye the Reserve Bank’s monetary policy decision to be announced later in the day. The 30-share BSE benchmark Sensex dropped 554.02 points to 73,673.06 in early trade. The NSE Nifty declined 178.85 points to 22,357. “With a whopping 104 per cent tariffs on China likely to kick in today, there is blood on the streets. Uncertainty reigns supreme. How global trade and the global economy evolve from this chaos

Congress leader Rahul Gandhi extends wishes to NSUI on their 55th foundation day

New Delhi [India], April 9 (ANI): Lok Sabha Leader of Opposition and Congress MP Rahul Gandhi on Wednesday extended warm wishes to the National Students’ Union of India (NSUI) on its 55th Foundation Day. Taking to social media, X, Rahul Gandhi wrote, “Warm wishes to all members of the NSUI family on the occasion of its 55th Foundation Day!” Warm wishes to all members of the NSUI family on the occasion of its 55th Foundation Day! For over five decades, NSUI has stood as an unwavering voice for students – championing their rights, empowering youth, and driving positive change across

Rupee plunges 30 paise to 86.56 against US dollar in early trade

Mumbai, Apr 9 (PTI) The rupee lost further ground on the fourth straight session, declining sharply by 30 paise to 86.56 against the US dollar in early trade on Wednesday ahead of the Reserve Bank’s monetary policy decisions. Forex traders said that despite a steep fall in crude oil prices and a weak American currency, the looming worldwide trade war continued to stoke fears of global economic meltdown, fuelling withdrawal of foreign funds with the stock markets remaining shell-shocked. At the interbank foreign exchange, the rupee opened at 86.52 and hit the low of 86.60 before strengthening a tad to

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