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The Reserve Bank of India’s Monetary Policy Committee cut the repo rate by 50 basis points, lowering it from 6% to 5.5%. This is the third consecutive rate cut. Central banks usually reduce repo rates to stimulate economic growth by making borrowing cheaper for individuals and businesses. This translates to lower equated monthly instalments for borrowers.
The RBI retained India’s growth projection for the financial year 2025-’26 at 6.5% despite global uncertainties, with quarterly estimates unchanged.
The Karnataka Police arrested four persons, including an official of the Royal Challengers Bengaluru, in connection with the stampede that took place outside the Chinnaswamy Stadium. Those arrested are Nikhil Sosale, the marketing head of the cricket franchise, along with event management firm DNA Entertainment Networks’ Sunil Mathew, Kiran and Sumanth.
This came after Chief Minister Siddaramaiah on Thursday said that the state government had ordered the arrest of representatives from the Karnataka State Cricket Association, DNA Entertainment Networks and Royal Challengers Bengaluru.
A first information report was filed against the persons based on a complaint alleging that criminal negligence had led to the stampede.
Eleven persons had died and several were injured...
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