US Fed holds rates steady at Warsh's first FOMC meeting

Dinesh Pant, managing director at Life Insurance Corporation of India, has been appointed whole-time member (actuary) at IRDAI, while Girija Subramanian, chairman-cum-managing director of The New India Assurance Company Limited, has been appointed whole-time member (distribution). Both appointments are for five years. The government has also reappointed Deepak Sood as whole-time member (non-life), extending his term by two years until 2028, and Rajay Kumar Sinha as whole-time member (finance and investment) for another two years until 2029, or until they attain the age of 65 years, whichever is earlier.

Indian financial authorities are examining large over-the-counter cryptocurrency trades. The Financial Intelligence Unit is requesting data from major crypto exchanges for transactions exceeding $10,000. This move aims to combat money laundering and track beneficial owners. These off-market deals are insulated from price volatility. The focus is on ensuring transparency and preventing illicit activities within the digital asset space.

Hindi cinema is experiencing a box-office slump after a recent success. Several films with known casts have failed to attract audiences. Industry experts point to old storytelling, declining star appeal, and a disconnect with viewer tastes. Producers struggle to build pre-release buzz. The focus is now on delivering the right content at the right time to revive the industry.

Agson Global, a manufacturer of aroma ingredients, was admitted to insolvency proceedings by the National Company Law Tribunal following a petition filed by the erstwhile Allahabad Bank, now part of Indian Bank. NARCL, the state-backed "bad bank", had acquired Agson Global's debt at a steep discount, said one of the people cited earlier. The recovery enabled NARCL to fully redeem the security receipts (SRs) issued to lenders and also distribute an additional nearly Rs 200 crore to the banks.

Consumer advocates are pushing back against the telecom regulator's plan to eliminate the advisory committee for complaint appeals. They argue this move would remove a vital safeguard for consumers. Instead, they propose modernizing the committee with digital tools and faster turnaround times. Telecom operators, however, support the regulator's proposal.

India and Russia are working together on new versions of the BrahMos missile. These include smaller and hypersonic models. This development will significantly boost the Indian Armed Forces' ability to strike targets across different domains. The BrahMos missile system has already expanded to naval, submarine, and air-launched versions.

Indian airlines face a profit drop this financial year. Higher fuel prices, airspace limits, and a weaker rupee are increasing costs. Fleet expansion will also raise lease payments. While conflict resolution could ease fuel expenses, airlines will need to manage these pressures. This situation impacts their financial performance.