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Weekly News Platter |
7 Jun, 2025, 04:52PM IST, PTI |
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Hello Reader,
In case you had a busy week, these are the top stories you need to get caught up to speed...
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 Cheaper home and car loans: India Inc gets a booster and fire power to drive growth |
| Home, personal, and car loans tied to external benchmarks, such as the repo rate, will see an immediate downward reduction. However, loans tied to the marginal cost of funds-based lending rate (MCLR), like corporate exposures, will take longer to head lower. Policy action, Reserve Bank of India (RBI) Governor Sanjay Malhotra said, is geared toward boosting broader credit demand for which monetary support is a "necessary condition", although not sufficient. Read more |
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 RBI MPC: Lone dissent was more hawkish this time |
| The Monetary Policy Committee (MPC) decided to lower the policy repo rate by 50 bps to 5.50 percent, with one member dissenting for a smaller 25 bps cut. While some members previously favored deeper rate revisions, the majority voted for the larger cut this time. Read more |
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 Deepest RBI cut in five years will take deposit rates lower |
| Reserve Bank of India's rate cut of 50 basis points is set to decrease deposit rates. Banks have already begun lowering deposit rates. Since February, most banks have reduced deposit rates by 40 basis points. The rate cuts will take six to nine months to fully materialize. Read more |
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 Tata to build Rafale fighter jet fuselages in Hyderabad under deal with Dassault Aviation |
| Tata Advanced Systems (TASL) and Dassault Aviation have partnered to manufacture Rafale fighter aircraft fuselages in India. TASL will establish a facility in Hyderabad, aiming to produce 24 fuselages annually, with initial deliveries expected by FY28. This collaboration marks a significant expansion of the Rafale manufacturing ecosystem in India, potentially bringing 60% of the aircraft's manufacturing value to the country. Read more |
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 Birla's paints unit said to have filed antitrust case against Asian Paints |
| Aditya Birla Group's paints business, Birla Opus, has accused Asian Paints of abusing its market dominance. Birla Opus filed an antitrust complaint with the Competition Commission of India. They allege Asian Paints pressured retailers to avoid stocking Birla products. Asian Paints denies any anti-competitive behavior. The CCI is reviewing the complaint. Read more |
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 Gukesh blunders against Caruana as Carlsen wins Norway Chess for seventh time |
| Magnus Carlsen secured his seventh Norway Chess title after Fabiano Caruana's victory over D Gukesh in the final round. Carlsen drew with Arjun Erigaisi, finishing with 16 points. In the women's section, Anna Muzychuk claimed the title despite an Armageddon loss to R. Vaishali, while Koneru Humpy finished third after drawing with Ju Wenjun. Read more |
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 Early monsoon cools June power demand target |
| The Grid Controller of India has revised down its peak power demand target for June to 261 GW, a decrease from the earlier projection of 269 GW. This adjustment is attributed to the early arrival of the monsoon and unexpectedly mild temperatures, which are expected to dampen electricity consumption. Read more |
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 Post-poll statistical reports: EC streamlines old manual system |
| The Election Commission has upgraded its system for generating post-poll statistical reports, replacing manual methods with automation and data integration. This streamlined approach ensures faster reporting and accessibility of poll-related data at the constituency level. The new system facilitates the creation of various statistical reports for Lok Sabha and assembly elections, improving data dissemination. Read more |
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 PM Modi flags off Katra-Srinagar Vande Bharat Express |
| Prime Minister Narendra Modi inaugurated the Vande Bharat train connecting Katra and Srinagar, marking the first rail link between the Kashmir valley and the Jammu region. The event was attended by Railway Minister Ashwini Vaishnaw, J&K LG Manoj Sinha, and former CM Omar Abdullah. Read more |
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 RBI rate cut to positively impact automobiles sector |
| The Reserve Bank of India's decision to cut the policy rate by 50 basis points is expected to positively impact the automobile sector by making loans cheaper. Industry bodies like SIAM and ACMA believe this move will stimulate demand, lower borrowing costs, and ease working capital pressures, especially for MSMEs. Read more |
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 100 flights to be cancelled at Delhi Airport for runway closure |
| Delhi Airport will cancel around 100 flights daily starting June 15th due to runway upgrades, impacting roughly 7-7.5% of daily movements. The upgrade to CAT III B standards aims to improve operations during low-visibility conditions, particularly during foggy winters. Airlines have been consulted to reschedule flights, minimizing disruptions and maintaining on-time performance. Read more |
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