"U.S. Federal Reserve Cuts Interest Rates by 50 Basis Points, First Reduction Since 2020"
The U.S. Federal Reserve made its first rate cut since 2020, lowering its benchmark interest rate by 50 basis points to a range of 4.75% to 5%. The move comes as inflation shows signs of easing and the labor market cools, signaling a potential shift in the Fed's approach to monetary policy. This aggressive cut marks a significant pivot after a series of rate hikes aimed at controlling inflation, which had reached a 23-year high earlier this year
"HDFC Bank to Offload ₹9,062 Crore Car Loan Portfolio to Mutual Funds to Improve Credit-Deposit Ratio"
HDFC Bank is planning to sell a car loan portfolio worth ₹9,062 crore to mutual funds as part of its strategy to improve its credit-deposit ratio, which had reached 104% post its merger with HDFC Ltd. This move is intended to reduce the loan burden and bring the ratio closer to regulatory norms. By offloading the loan portfolio, the bank aims to manage its liquidity more efficiently and address regulatory scrutiny
"Key Cabinet Decisions: Chandrayaan-4, 'One Nation, One Election,' and More Announced"
The Union Cabinet, chaired by Prime Minister Modi, approved key initiatives including the Chandrayaan-4 mission and accepted the "One Nation, One Election" report by former President Ram Nath Kovind’s panel. The Chandrayaan-4 mission will aim to further explore the Moon, while the Cabinet also approved welfare measures, such as subsidies on fertilizers for farmers and youth-centric programs. These decisions reflect the government’s focus on space exploration and social development
"Subhadra Yojana: Eligible Beneficiaries to Receive ₹10,000 Annually – First Instalment Timeline Revealed"
"Subhadra Yojana: Eligible beneficiaries will receive ₹10,000 annually, with the first instalment set to be disbursed soon. The scheme aims to support low-income households with financial aid to cover essential expenses. Stay tuned for the official announcement on the timeline for the first payout, ensuring timely assistance to all qualified individuals."
"India's Exports Expected to Surpass $825 Billion This Fiscal, Says Commerce Minister Piyush Goyal"
Commerce Minister Piyush Goyal announced that India's exports are poised to surpass $825 billion this fiscal year, buoyed by strong performance in both goods and services sectors. Despite external challenges such as geopolitical tensions and global economic headwinds, Goyal expressed confidence in continued positive growth for India's export industry
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