The Indian rupee dropped to an all-time low after new data showed the country’s economy grew at its slowest pace in almost two years. The rupee lost 0.2%, reaching 84.6637 per dollar. Meanwhile, bonds gained as traders started to expect the central bank might cut interest rates sooner than expected. The bond yield fell to 6.62%, as traders anticipated moves by the Reserve Bank of India to boost the economy.
The Monetary Policy Committee (MPC) is likely to keep the repo rate steady in its December meeting, despite a slowdown in GDP growth and rising retail inflation above 6%. While the committee may update its GDP and inflation forecasts, economists suggest that controlling inflation will remain a priority. MPC members are expected to maintain a neutral stance to support long-term price stability and growth.
A man from Hyderabad lost Rs 8.14 crore to fraudsters who posed as stock traders. The scammers used fake trading apps and promised high returns. Two suspects, Rahul Dangi and Rahul Bhoi, were arrested in connection with the crime. Investigations revealed that the accused were involved in several other fraud cases across India.
Businessman Raj Kundra responded to recent ED raids on his properties, part of a money laundering probe linked to a porn network case. He rejected the sensational media coverage and confirmed he is fully cooperating with the investigation. Kundra also spoke out against the media for dragging his wife, actress Shilpa Shetty, into the matter, calling it unacceptable.
Telangana Chief Minister A. Revanth Reddy shared that 92% of the state’s caste survey is now complete. He also spoke about Congress’s ongoing commitment to social justice and upholding constitutional values. At the ‘Samvidhan Rakshak Abhiyaan’ in Delhi, Reddy praised leaders like Nehru, Ambedkar, and Gandhi for their efforts to support marginalized communities and highlighted the importance of the caste census for ensuring fair rights distribution.
Pappu Yadav, an independent MP from Bihar, received a bulletproof Land Cruiser to boost his security after receiving death threats from the Lawrence Bishnoi gang. The car, which is equipped with advanced protection, was given to him by a close friend. Yadav says the car is so secure that it can even survive a rocket launcher attack. The threats, including plans to bomb his house, have led to stronger security measures around him.
TARC Limited has sold half of its luxury residential project, TARC ISHVA, worth ₹1,350 crore, just two months after launching in September 2024. The project is located on Golf Course Extension Road in Gurugram and offers premium homes with views of the Aravali Hills. TARC credits the strong sales to its focus on customer needs and expects the rest of the units to sell quickly.
Zerodha CEO Nithin Kamath highlights India’s diversity as both a strength and challenge, contrasting it with Europe’s uniformity. In a post on X, Kamath expressed amazement at how India, with its vast differences in language, culture, and food, has come together. He warned against oversimplifying India’s market potential and shared insights on addressing environmental issues through linking property values to air and water quality.
Israel and Hezbollah have reached a ceasefire deal brokered by the US, ending nearly 14 months of conflict linked to the Gaza war. The deal includes a two-month pause in fighting and a pullback of forces from southern Lebanon. Despite the ceasefire, tensions remain, with Israel keeping the option to restart operations if Hezbollah breaks the truce. US President Biden has backed the deal and called for a broader ceasefire in Gaza.
Videos showing teenagers attacking commuters at Tamil Nadu’s Hindu College Railway Station have caused public outrage. The attackers, using plastic pipes, injured a passenger before walking away. Three suspects have been detained, and investigations are ongoing. Authorities have promised to increase security at suburban stations to keep commuters safe.