Money this Month
From Monthly outflow of FIIs cross Rs 1 lakh crore for the first time To RBI Governor maintaining the repo rate. 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
RBI Governor Shaktikanta Das announced the bi-monthly MPC meeting outcomes, maintaining repo rate at 6.5%.
Monthly outflow of FIIs cross Rs 1 lakh crore for the first time, DII inflows touch Rs 97,000 crore
Sebi announces 6-step framework to get Indians rid of F&O addiction
HYUNDAI IPO: LARGEST IPO BUT CHEAPEST MNC
'A debt forgiven, a bond forever': Ratan Tata’s final gesture to his friend Shantanu Naidu
Gold prices soared due to geopolitical tensions, declining US yields
So, how was the money this month?
MONEY THIS MONTH
RBI Governor Shaktikanta Das announced the bi-monthly MPC meeting outcomes, maintaining repo rate at 6.5%.
After a three-day meeting of the RBI Monetary Policy Committee (MPC), the RBI Governor Shaktikanta Das announced that the rate-setting panel decided to keep the benchmark repo rate unchanged at 6.5% for the tenth straight meeting. FY25 GDP growth estimates were retained at 7.2%, while CPI Inflation forecast for FY25 remained at 4.5%.
Monthly outflow of FIIs cross Rs 1 lakh crore for the first time, DII inflows touch Rs 97,000 crore
In the year so far, FIIs have net sold shares worth Rs 2.39 lThis is the second-biggest outflow since the record ₹61,973 crore net sale of March 2020 at the onset of the pandemic. Lakh crore, while DIIs have bought Rs 5.15 lakh crore shares.
Sebi announces 6-step framework to get Indians rid of F&O addiction
To curb excessive speculation in the stock market, Sebi is tightening the rules for futures and options (F&O) trading. Starting November 20th, the minimum amount needed to invest in index F&O contracts will increase significantly. Currently, investors can participate with as little as Rs 5-10 lakh. This threshold will be raised to Rs 15 lakh, making these contracts less accessible to smaller investors.
HYUNDAI IPO: LARGEST IPO BUT CHEAPEST MNC
Hyundai Motor India, the largest public offering in India's history, had a subdued debut on D-Street today. Following a lackluster listing at Rs 1,931 per share, the company's stock continued to decline. However, the lukewarm response in the primary market has not dented Hyundai's brand value. After the IPO, Hyundai Motor India has become the fifth most valuable automaker in India. As of October 22, 2024, its market capitalisation stands at over Rs 1.59 lakh crore.
'A debt forgiven, a bond forever': Ratan Tata’s final gesture to his friend Shantanu Naidu
Shantanu Naidu's name, a long-time associate of Ratan Tata, has appeared in the late industrialist's ₹10,000-crore will, reported ToI. According to the report, the tycoon has relinquished his stake in Naidu’s companionship venture, Goodfellows, and waived Naidu’s overseas education expenses.Ratan Tata who could never hide his love for dogs and his pets has also made provisions to provide for his beloved Tito to ensure 'unlimited care' was provided to him after his death,
Gold prices soared due to geopolitical tensions, declining US yields
Gold prices climbed as US Treasury yields dropped on demand for safe-haven assets. Heightened tensions in the Middle East and US election woes underpin the golden metal. Gold’s advance reflects traders uncertainty about the outcome of the US election, as markets expect a narrowly contested race. Former President and Republican nominee Donald Trump was seen gaining an edge over Vice President Kamala Harris in the upcoming election, which is less than two weeks away.