Business
RBI Monetary Policy Committee Unlikely To Cut Rates In October: Report
New Delhi: The Reserve Bank of India’s monetary policy committee (MPC) is anticipated to maintain the status quo on the repo rate in its October review, considering the positive impact of GST reforms on demand, stronger-than-expected Q1 FY26 GDP growth, and an inflation trajectory which is expected to slope upwards thereafter, a report said on Thursday.
The inflation trajectory remained lower due to GST rationalisation (FY2026 average now around 2.6 per cent). The transmission of the past 100 bps rate cut is assessed as nearly complete for fresh deposits (-94 bps) but muted for outstanding deposits (-18 bps), ICRA said in its report.
Similarly, the Weighted Average Lending Rate for fresh loans declined by 60 bps, compared to a 42-bps easing for outstanding loans. Further significant transmission to lending rates is considered limited in the coming months.
According to the report, the 10-year G-sec yield for the government bond market is projected to trade between 6.40-6.60 per cent, with the yield curve expected to remain steep. This is due to comfortable liquidity keeping short-term rates steady, while long-term yields remain sticky amid fiscal concerns and demand-supply dynamics.
“Internationally, the spread between the 10Y India G-sec and the 10Y US Treasury yield widened to 236 bps in September 2025 from 209 bps at the end of June 2025, following a US Fed rate cut,” the report said. Systemic liquidity surplus cooled in September 2025 after being sizable in June-August 2025, due to advance tax outflows.
Additionally, a pending 75 bps CRR cut during October-November 2025 and G-sec redemptions (Rs. 1.0 trillion) in early-November 2025 are expected to support liquidity, offsetting festive season currency leakage pressure, the report stated.
The RBI may continue Variable Rate Repos (VRRs) to manage intermittent tightness. According to the report, GST rationalisation is expected to dampen headline CPI inflation by 25-50 bps during Q3 FY2026-Q2 FY2027 relative to earlier estimates
“Average CPI inflation for FY2026 is now projected at around 2.6 per cent (against 3.0 per cent earlier),” the report noted.
MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed entities under labels such as consumer awareness, marketing and advertising.
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ISLAMABAD:
Pakistan has registered 144 olive startups as part of a decade-long government initiative aimed at developing the olive sector.
Olive Promotional Programme National Project Director Dr Muhammad Tariq told Wealth Pakistan that the sector had recorded rapid growth over the past 10 years due to sustained government backing.
“Ten years ago, when the government started this programme, we had only one entrepreneur. Today, we have 144 startups and entrepreneurs. It is a very fast-growing sector,” he said.
Tariq noted that the government’s continued support had played a central role in transforming the olive sector into a viable agro-industry. The federal minister for national food security has also taken steps to strengthen the sector by pursuing Pakistan’s full membership at the International Olive Council. “Hopefully, there will be progress within three months,” he said.
A traveler near a departures board at Newark Liberty International Airport (EWR) in Newark, New Jersey, US, on Monday, Nov. 24, 2025.
Victor J. Blue | Bloomberg | Getty Images
Airlines canceled more than 1,200 U.S. flights on Friday ahead of a major winter storm that will put carriers to the test during one of the busiest travel periods of the year.
A winter storm warning is in effect starting Friday afternoon in New York City, New Jersey and Long Island, with snowfall totals potentially reaching 9 inches, most of it falling overnight, the National Weather Service said.
Over 350 flights, or more than a quarter of the day’s schedule, were canceled as of 1 p.m. Friday to and from New York’s John F. Kennedy International Airport, according to flight-tracking site FlightAware. More than 200 were also scrubbed at Newark Liberty International Airport in New Jersey, and more than 100 were canceled at Philadelphia International Airport.
American Airlines, Delta Air Lines, United Airlines, Southwest Airlines, JetBlue Airways and other carriers waived change fees for restrictive basic economy tickets and said they won’t charge a difference in fare for any other customers flying in and out of a host of airports in the Northeast U.S.
Customers must travel by the end of the year if they change their flights, the airlines said. Flying as early as possible is likely the best bet with few seats available during the busy Christmas week.
Airlines for America, the industry lobbying group, expects carriers to fly a record 52.6 million people between Dec. 19 and Jan. 5, with this Friday and Sunday among the busiest days.
Airlines generally cancel flights ahead of time for major weather events in the forecast, like blizzards or hurricanes, to avoid planes, connecting travelers and crews from getting stranded and worsening disruptions.
Irdai fines Reliance General Insurance over ‘commission’ – The Times of India
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