Reserve Bank of India (RBI) governor Shaktikanta Das announced a 50 basis point reduction in the Cash Reserve Ratio (CRR) to 4 per cent during the monetary policy (MPC) address on Friday, December 6. The cut, which will be implemented in two phases of 25 basis points each, will take effect on December 14 and December 28.

Reserve Bank of India (RBI) governor Shaktikanta Das announced a 50 basis point reduction in the Cash Reserve Ratio (CRR) to 4 per cent during the monetary policy (MPC) address on Friday, December 6.

RBI Monetary Policy meet: RBI cuts Cash Reserve Ratio by 50 bps to 4%

Torrent Power on Friday said it has raised Rs 3,500 crore by issuing 2.32 crore equity shares at Rs 1,503 per piece through a Qualified Institutional Placement (QIP).
Pursuant to the allotment of equity shares in the issue, the company's paid-up equity share capital has increased from Rs 480.62 crore, comprising 48,06,16,784 equity shares of Rs 10 each, to Rs 503.90 crore, comprising 50,39,03,543 equity shares of Rs 10 each, a BSE filing said.
Fund Raising Committee of the Board at its meeting held on December 5, 2024, approved the issue and allotment of 2,32,86,759 equity shares to the eligible qualified institutional buyers at the issue price of Rs 1,503 per equity share (including a premium of Rs 1,493 per equity share) which is at a discount of Rs 52.75 per equity share i.e. 3.40 per cent to the floor price of Rs 1,555.75 per equity share to approximately Rs 3,500 crore following the Issue.
In July this year, shareholders of the company approved the proposal to raise up to Rs ..

The company had earlier said that there was an ongoing requirement of working capital and capex for the upgradation/expansion

The IG Metall union said workers would down tools for four hours at nine different sites in so-called "warning" strikes across the country

WhatsApp introduces a new typing indicator feature with enhanced visual cues for user identification, improving real-time engagement in chats

OpenAI unveils its new o1-series reasoning models and introduces the ChatGPT Pro subscription, promising advanced AI capabilities including image reasoning and faster response times

Vijay Shekar Sharma emphasises the transformative impact of India's digital services sector on employment and economic growth, appreciating the efforts of 'Indian Digital Services' workers

Punjab and Haryana have imposed fines exceeding Rs 2.1 crore and Rs 21 lakh respectively, on farmers for stubble burning in 2024, with more than 50 per cent of penalties collected

Finance Minister Nirmala Sitharaman will start pre-Budget consultations with various stakeholders beginning Friday as part of Budget making exercise.
The first meeting as part of this series will be held with eminent economists on December 6.
Sitharaman, who will chair these meetings, will seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent in second quarter of the current financial year.
It will be followed by a meeting with farmer associations and agriculture economists and stakeholders in MSME sector on December 7, sources said.
Union Budget 2025-26 is likely to be tabled in Parliament on February 1.
This would be the eighth straight Budget of Sitharaman and second full budget of the Modi 3.0 government, which will give policy direction for achieving the goal of Viksit Bharat (developed India) by 2047.
The pre-Budget consultations will end on December 30 with consultations with captains of Indian industry and players in the social secto

Sitharaman, who will chair these meetings, will seek their inputs regarding upcoming Budget amid seven-quarter low GDP print of 5.4 per cent in second quarter of the current financial year.

The estimated revenue deficit stands at Rs 34,743 crore (2.12 per cent of the GSDP), while the fiscal deficit is estimated at Rs 68,743 crore (4.19 per cent of the GSDP)

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

RBI Monetary Policy meet: RBI cuts Cash Reserve Ratio by 50 bps to 4%

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