Bitcoin declined below $90,000 experiencing its lowest point since November 18. This drop occurred amid a broad crypto market selloff influenced by significant setbacks like the Bybit hack and memecoin scandal. These events have contributed to a bearish sentiment among crypto market participants.
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India has the chance to leverage the issue of US reciprocal tariffs to negotiate mutual tariff reductions, turning a potential trade conflict into a win-win bargain. This cooperative approach could grant better access for Indian goods to the US market, while the reciprocal tariffs could otherwise lead to a harmful tariff war for both nations.
Bengaluru-based Cred, founded by Kunal Shah, prioritizes hiring employees with good credit scores of 750 or above to reinforce responsible credit behavior. The company has also launched new credit-focused features like Svalbard to enhance users’ credit management and empower financially responsible decisions.
In the December MPC meeting, four members opposed policy easing, making a February rate cut uncertain. Outgoing Governor Das and Deputy Governor Patra prioritized controlling inflation over growth, citing concerns about core inflation and second-order effects. Two external members favored rate cuts to address the GDP growth decline, arguing monetary policy's limitations on supply-side inflation.
Economic Survey recommends sustained increase in infrastructure investment over the next two decades to support high growth, given private sector contributions have fallen short. Report highlights need for accelerated private participation in various stages of infrastructure projects, while noting improved capital expenditure post-general election and monsoon constraints.
Prime Minister Giorgia Meloni sees no threat to Italy from Elon Musk's company investments, emphasizing the evaluation of each investment through a national interest lens. Musk has praised Meloni, calling her honest and truthful. They have discussed opportunities in space and AI sectors, with Italy welcoming foreign space companies under a new regulatory framework.
RBI has raised concerns over high ceilings for unsecured loans set by banks and finance companies. It urges boards to exercise prudence to maintain financial stability. Additionally, RBI warns about the risks associated with top-up and private credit loans, emphasizing the need for careful monitoring.
Hero MotoCorp will appoint Vikram Kasbekar as acting CEO effective May, following Niranjan Gupta's departure. The restructuring also designates Ram Kuppuswamy and Ashutosh Varma in new roles. Additionally, the EV & Emerging Mobility Business Unit will become a separate entity from February 2025.
India's retail inflation hit a 5-year low of 3.3% in March, driven by significantly lower food prices. This development is expected to prompt the RBI to cut interest rates to bolster growth amid global economic uncertainties. Experts anticipate retail inflation to remain stable, although geopolitical tensions and weather events require monitoring.
UPI continues to set records, with March seeing 1,830 crore transactions worth Rs 24.8 lakh crore, a 36% rise in volume and 25% increase in value year-on-year. The platform now processes 59 crore transactions daily, averaging Rs 79,910 crore in daily value, showcasing significant growth.
Infosys chairman Nandan Nilekani envisions a future where energy is traded in small amounts similar to digital payments. Households will produce, store, and trade energy, transforming the energy landscape. Regulatory reforms and formalisation are necessary to enable this shift, which could create millions of energy entrepreneurs and unlock massive opportunities in India.