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| IMC has enhanced its digital systems to incorporate new online features. To explore these updated processes, please visit our website: https://www.imcnet.org
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14
Oct
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Webinar on GAAR unplugged Live Controversies
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INDIAN ECONOMY
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India's foreign exchange reserves fell for a fourth consecutive week to $734.6 billion, according to a footnote to Reserve Bank of India Governor Sanjay Malhotra's statement.
The reserves have dropped from their recent peak of $785.71 billion on September 4, a decline of about $50 billion in less than a mo...
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India's trade agreements with other countries should help mitigate the impact of possible US tariffs if a trade deal does not come through, indicated RBI governor Sanjay Malhotra on Wednesday.
Asked about the possible impact on the economy if the India-US trade deal is not finalised, Malhotra said, "The impa...
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India has significant scope to expand its participation in global value chains (GVCs), with free trade agreements (FTAs) with developed economies offering opportunities to attract investment, increase domestic value addition and create jobs, Commerce Secretary Rajesh Agarwal said on Wednesday.
Speaking at ...
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The Reserve Bank of India has revised its inflation forecast for FY27 to 5.2%, from 5.0% earlier, as higher crude oil prices, food costs and a weaker rupee complicate the outlook for price stability.
The Monetary Policy Committee’s latest assessment comes at a time when retail inflation has moved above the...
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The Reserve Bank of India on Wednesday raised the policy repo rate by 25 basis points to 5.50%, its first rate hike since February 2023, amid rising global and domestic economic uncertainties.
Addressing the Monetary Policy Committee's decision, RBI Governor Sanjay Malhotra said the global context remained...
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India’s industrial workforce crossed the 2-crore mark in 2024-25, with the manufacturing sector accounting for much of the increase, according to the Annual Survey of Industries (ASI) released on Wednesday.
As per the survey, the estimated number of people engaged in industries rose 7.19% to 2.10 cr in 202...
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After cutting rates by 125 basis points in 2025 and then keeping the repo rate unchanged at 5.25% for four straight policy reviews, the Reserve Bank of India has changed course.
On Wednesday, the RBI raised the repo rate by 25 basis points to 5.50% after 44 months, and with its new “calibrated tightening” ...
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By N Chandra Mohan
The United States Trade Representative (USTR), Ambassador Jamieson Greer, candidly remarked that the Indo-US trade deal is not imminent. Addressing a press conference after the G20 trade ministerial conference in Milwaukee, he stated that although the talks are best described as being in...
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To capture India’s services sector more comprehensively, the Ministry of Statistics and Programme Implementation (MoSPI) has proposed adding education, healthcare, and public administration & defence to the coverage of the Index of Services Production (ISP).
The ministry has also proposed using Unified Pay...
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India and the US may have reached a “plateau” in their trade negotiations where further concessions from either side could be increasingly difficult, Finance Minister Nirmala Sitharaman said on Monday.
Sitharaman’s signal of an impasse in the negotiations came days after US Trade Representative Jamieson Gr...
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India’s services sector picked up pace in September as stronger domestic demand and a rise in new orders helped business activity grow at its fastest rate in three months. The HSBC India Composite PMI Output Index, which tracks both manufacturing and services, also strengthened.
The seasonally adjusted HSB...
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The World Bank on Tuesday raised its GDP growth forecast for India for the current fiscal year to 7.1%, up from the 6.6% it projected in April. The upgrade follows a stronger-than-expected first quarter, as per PTI.
“We have upgraded our FY27 growth forecast to 7.1% from 6.6% in April, as growth has held u...
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The Indian rupee weakened to a two-month low on Tuesday as foreign investors continued to sell. It finally closed at 96.43 against the dollar, down 13 paise from the previous session.
Oil prices hovered above $100 a barrel during the day before retracing to $98.45. A strengthening dollar index and rising U...
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Post the goods and services tax (GST) rate cuts and the slab rejig in September 2025, the tax base expanded strongly between October 2025 and July 2026, with taxable supply rising 25.8% year-on-year and business-to-consumer supply increasing 26.7%, sources said.
Gross tax liability grew 13.6% during the pe...
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Cheaper loans just got harder to expect. Today, October 7, the Reserve Bank of India (RBI) raised policy repo rate for the first time in 4 years. It now stands at 5.50%, up by 25 basis points.
The repo rate is the rate at which the RBI lends money to banks. A basis point is one-hundredth of a percentage po...
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MARKET & FINANCE
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For merchants, UPI has long had one big advantage over cards: there was no Merchant Discount Rate on standard UPI transactions. That is set to change for certain high-value person-to-merchant payments. Under the proposed framework, a 0.4% MDR will apply to eligible UPI P2M transactions above Rs 2,000, bringin...
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Private equity (PE) investments in Indian real estate rose 23% year-on-year to $2.7 billion in the first half of FY27, from $2.2 billion in the corresponding period last year, according to the latest Flux report by Anarock. The inflows mark the strongest first-half performance since H1 FY23, despite geopoliti...
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GLOBAL CORPORATE
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German industry — long the foundation of Europe's biggest economy — may be in free fall, but its once anaemic startup sector is experiencing an unprecedented AI-led boom that has the potential to offset the malaise and even benefit from it.
More than 3,000 startups were founded in Germany in the first half...
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Anthropic is expanding a program that allows vetted cybersecurity professionals to test its most powerful AI models with fewer safeguards, after its Project Glasswing initiative helped uncover more than 100,000 software vulnerabilities this year.
Its partners under Glasswing, an initiative aimed at securin...
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SpaceX is seeking to raise $40 billion in a financing effort led by asset manager Apollo Global Management to purchase Nvidia chips, the Financial Times reported on Tuesday, citing people familiar with the matter.
The Elon Musk-led company is seeking to raise about $10 billion in bank loans and $30 billion...
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Samsung Electronics is expected to report a nearly nine-fold jump in third-quarter operating profit, driven by robust AI demand, though analysts have cut forecasts by nearly 8% since the end of August.
Despite moderating gains in the prices of memory chips and a strengthening South Korean won, the world's ...
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Uber said on Tuesday it would buy US catering platform ezCater in an all-cash deal for $2.3 billion, expanding its food-delivery and workplace meals business.
Founded in 2007, ezCater lets companies order food from caterers for corporate events, meetings and workplace meals....
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Paramount Skydance completed its blockbuster $110 billion takeover of Warner Bros Discovery on Tuesday, creating a Hollywood heavyweight that hands CEO David Ellison control of one of the world's largest entertainment and news businesses.
The deal brings together the studios behind "Mission: Impossible," "...
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The war in West Asia and disruptions on key trade routes have accelerated work on enabling components of the India-Middle East-Europe Economic Corridor (IMEC), while drawing interest from countries beyond the original eight signatories.
Oman, Lebanon, Egypt, Greece and Cyprus have shown interest in joining...
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Elon Musk’s SpaceX is looking to raise about $40 billion to finance a major purchase of Nvidia chips as the rocket company expands its investment in artificial intelligence and data centres, according to the Financial Times.
The financing is expected to include about $10 billion in bank loans and another $...
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Banking
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The Reserve Bank of India has allowed inter-operability among Account Aggregators (AA), a move that could make it easier for consumers to share their financial information with banks, lenders and other financial institutions.
Different Account Aggregators will be able to work with each other, creating a mo...
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The Finance Ministry on Tuesday urged private sector banks to increase their participation in financial inclusion schemes including Pradhan Mantri Mudra Yojana (PMMY) and Stand Up India.
Chairing a review meeting with heads of all Public Sector Banks (PSBs) and senior officials of major private sector bank...
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HDFC Bank, the largest private sector bank, reported strong growth in a key operational parameter, signaling once again strong demand for loans / credit in the current financial year.
Loan book increased 15.3% y-o-y to Rs 33.07 lakh crore at the end of the September 2026 quarter, as per provisional data re...
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GLOBAL ECONOMY
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Canadian economic activity expanded at a slower pace in September as a measure of inflation pressures rose, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.
• The seasonally adjusted index decreased to 58.2 last mon...
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Business confidence at big Japanese manufacturers rose in October to its highest level in nearly five years, helped by robust chip demand, but sentiment among non-manufacturers deteriorated sharply amid rising costs, a Reuters mon...
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Japan is considering compiling an extra budget focused on relief spending for reconstruction efforts after disasters such as earthquakes and heavy rain, the Yomiuri newspaper said on Wednesday.
The size of the extra budget, the...
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Japan's real wages rose 1.5% in August from a year earlier, marking the eighth consecutive month of gains, government data showed on Wednesday, pointing to a continued recovery in wage growth.
• The solid wage data supports th...
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Vietnamese banks are planning nearly $7 billion in share sales as the country's fast-growing economy fuels demand for capital, opening a window for foreign investors to expand in the tightly controlled sector.
Communist-run Vie...
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Canada's trade surplus widened substantially in August to C$4.2 billion ($2.94 billion), data showed on Tuesday, as exporters rushed to increase shipments to the US before President Donald Trump's new tariffs took effect.
Analy...
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The US trade deficit widened more than expected in August, driven by a surge in imports of goods amid robust domestic demand, keeping trade on track to again subtract from economic growth in the third quarter.
The trade shortfa...
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Sharp spikes in food and energy prices will likely become more common, the International Monetary Fund said, warning such crises drive inflation expectations higher for longer, worsen poverty and threaten economic stability.
IM...
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INDIAN CORPORATE
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In a major relief for homebuyers of 16 stalled housing projects by bankrupt builder Supertech, NBCC (India) Limited has floated 25 tenders for Rs 9,620.33 crore for construction and related works across the project portfolio.
N...
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Infrastructure major Larsen & Toubro (L&T) on Wednesday said it has received an initial nod to build the main part of a 1,600 MW thermal power plant at Chandrapura in Jharkhand.
The project is being developed by a joint venture...
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Adani Power Bhutan project:Adani Power has signed a shareholders’ agreement with Druk Green Power Corporation (DGPC) to set up the 770 MW Chamkharchhu-I hydroelectric project in Bhutan.
Adani Power-DGPC ownership structure
A...
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Tata Power Solaroof installed a record 88,397 rooftop solar systems in Q2 2026-27, marking a 33% increase year-on-year with a capacity of 426 MWp, supporting India's clean energy goals and PM Surya Ghar Yojana.
Tata Power Solar...
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FMCG major Dabur India expects its consolidated revenue to grow in double digits in the September quarter, while profit after tax (PAT) is also expected to register double-digit growth, even as elevated input costs weigh on operat...
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Titan’s consumer businesses recorded a 25% year-on-year growth in the September quarter, led by double-digit growth across jewellery, watches and eyewear, while the company added 78 net stores during the quarter, taking its combin...
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GST
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The GST Council, meeting Thursday, will seek to slash the refund period to around 17 days, which will include a maximum 10 days for acknowledgement, beyond which it will be deemed to have been acknowledged, and seven days for processing, as per a Times of India report.
Currently, acknowledgement itself can...
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