Message: Return type of CI_Session_null_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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Message: Return type of CI_Session_null_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
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NRIPage | Articles | Weekly Business Wrap: Ratan Tata's Legacy, RBI's Neutral Stance, and the Rupee's Decline | Get AI & Robotics News. Innovating the Future of Technology around the world - NRI Page
The past week was significant in shaping India's economic narrative, marked by the death of industrialist Ratan Tata and shifts in monetary policy.
Ratan Tata's Passing and Noel Tata's Appointment: India mourned the loss of Ratan Tata, the revered former chairman of Tata Sons, who passed away at 86. In a board meeting, Noel Tata was appointed as the new Chairman of Tata Trusts, a pivotal moment in the continuity of the Tata legacy. Noel, who currently holds leadership roles in various Tata entities, will guide the philanthropic organization that controls over 65% of Tata Sons.
RBI Maintains Rates and Changes Stance: The Reserve Bank of India's Monetary Policy Committee decided to keep the repo rate unchanged for the tenth consecutive meeting while shifting its stance to 'neutral.' This shift signals a potential for future rate cuts. RBI Governor Shaktikanta Das emphasized a focus on inflation alignment with growth, projecting CPI inflation at 4.5% for fiscal 2025 and real GDP growth at 7.2%.
Rupee Weakens Beyond Rs 84: The Indian rupee fell past the Rs 84 mark against the US dollar, driven by consistent foreign institutional investor (FII) selling on the stock market. The rupee hit a record low of Rs 84.03, attributed to geopolitical tensions and concerns over global market dynamics, particularly with the revival of Chinese stocks.
Editor's Picks for the Week
China's Economic Goals: China aims to meet its economic targets but has refrained from implementing large-scale stimulus measures.
Navi Mumbai Airport: The new airport welcomed its first flight, marking an early achievement before full operations commence.
Bond Market Trends: Lower-rated bond yields are compressing as high-net-worth individuals (HNIs) explore opportunities.
Earnings Reports: Tata Consultancy Services (TCS) reported a decline in profits for Q2 FY2025, while Just Dial saw a sequential net profit increase of 9.21%.
