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    RBI Announces 25bps Hike in Repo Rate et al.

    Professor of Financial Economics and Part-time Value Investor, Transfin.
    Jan 1, 1970 12:00 AM 2 min read

    End of Day Wrap-up (Wednesday / June 06, 2018) #RBI #IDFC #solar #IBC #Facebook #China #Trump #tariff #Transfin

    Editor's comment: RBI announces 25bps hike in repo rate, raising it to 6.25% and maintaining a 'neutral' stance. This is the 1st rate hike during the tenure of the present government. All MPC members vote in favour of the rate hike, citing increasing crude oil prices as a key risk to rising retail inflation. 

     

    RBI approves IDFC Bank's merger with Capital First, allowing the former to expand its retail book. Capital First Chairman and Managing Director V. Vaidyanathan to succeed Rajiv Lal as MD and CEO of the combined entity. 

     

    India's renewable energy sector received investments worth over $42bn and created 10m man-days of employment, as per MNRE data. The ministry also claims installed capacity for renewable power has crossed 70 GW, with over 40 GW in the pipeline.

     

    President approves ordinance amending the bankruptcy law to give home buyers the status of financial creditors. Section debarring defaulting promoters and related parties to be relaxed for financial creditors who have acquired defaulting firms and SMEs.

     

    Facebook confirms it has struck data partnerships with at least 4 Chinese electronics firms, allegedly used for state-sponsored spying. Partnerships include one with Huawei Technologies, subject of a 2012 US Congressional report on this issue.

     

    China offers to acquire nearly $70bn of US farm, manufacturing and energy products if Trump administration abandons the threatened tariffs.