Money this Month
From Rupee may slump to 85 as US dollar firms up To Growth in bank credit to NBFCs declines sharply to 6.4%. One place to know about them all for it is your "Money This Month", that matters. Here's the new in the line of indefinite "Money this Month" editions.Being published by the Research Department of Finance and Investment Cell at Aryabhatta College, "𝐌𝐨𝐧𝐞𝐲 𝐓𝐡𝐢𝐬 𝐌𝐨𝐧𝐭𝐡", a monthly newsletter that aims to encapsulate the latest developments in the field of money, economics, finance, and geopolitics. Extensive efforts have been put in to compile the most relevant and insightful information from various sources to provide you with a comprehensive overview of the financial world.
Headlines
Rupee may slump to 85 as US dollar firms up, Indian economy slows down
Bitcoin crosses $100,000 for first time on optimism over Donald Trump's crypto plans
Growth in bank credit to NBFCs declines sharply to 6.4%: RBI data
RBI to launch cloud services in 2025 to challenge global firm dominance
Li-Ion battery reliance impact insurers heavily, geopolitical tensions possible
So, how was the money this month?
MONEY THIS MONTH
Rupee may slump to 85 as US dollar firms up, Indian economy slows down
The rupee, which has been under pressure since the last few months, is expected to depreciate further weighed down by a strong dollar and weaker-than-expected economic growth, currency experts said.“USDINR is expected to head north with an inherent bullish trend in the dollar backed by a stronger US economy. The pair is likely to hover around 85 in the coming months.
Bitcoin crosses $100,000 for first time on optimism over Donald Trump's crypto plans
Trump's favourable stance towards cryptocurrencies is expected to favour its growth once he assumes office in January 2025. Bitcoin has more than doubled in value this year and is up about 45% in the four weeks since Trump's sweeping election victory.Trump also promised to create a new crypto advisory council, and several crypto companies, including Ripple, Kraken, and Circle, are jostling for a seat. According to several digital asset industry executives, the council will have a major say in Trump's planned overhaul of US cryptocurrency policy.
Growth in bank credit to NBFCs declines sharply to 6.4%: RBI data
The growth in bank credit to non-banking financial companies (NBFCs) declined sharply to 6.4 per cent in October compared to 18.3 per cent in the year-ago period, dragging down the growth of overall credit to the services sector, according to the Reserve Bank of India’s (RBI’s) sectoral deployment of credit data. Overall growth in credit offtake by the services sector dropped to 14.1 per cent Y-o-Y in October compared to 20.4 per cent, largely due to reduced growth in credit to NBFCs and trade segment.
RBI to launch cloud services in 2025 to challenge global firm dominance
India's central bank will launch a pilot programme in 2025 offering local cloud data storage to financial firms at affordable prices, according to two sources aware of the matter, who declined to be identified as conversations are confidential. The Reserve Bank of India's planned cloud platform will use local IT firms, pitting it against the likes of Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud, in a first-of-its-kind initiative from a major global central bank.
Li-Ion battery reliance impact insurers heavily, geopolitical tensions possible
The global reliance on lithium-ion (Li-Ion) batteries for smartphones, laptops, electric vehicles (EVs), and energy storage systems underscores their importance but also magnifies risks. Despite their efficiency and durability, issues like thermal runaway, manufacturing defects, and design flaws lead to fires and explosions, with incidents rising globally—New York City reported 92 battery-related fires in 2023, and UK e-bike fires surged by 71%. Heavy reliance on lithium and cobalt, predominantly processed in China, exposes supply chains to geopolitical risks. This dependence increases pressure on manufacturers to prioritize safety, while insurers face growing challenges from property damage, injuries, and operational disruptions.