The Reserve Bank of India has increased its key repo rate by 25 basis points to 5.5%. The decision was made unanimously by the central bank's monetary policy committee. The committee is headed by RBI Governor Sanjay Malhotra. This move is a response to persistently high inflation levels in the country.
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Billionaire investor Ron Burkle purchased the deteriorated Ennis House, designed by architect Frank Lloyd Wright. He then invested an estimated $17 million into extensive restoration work on the property. Following the renovations, the house was listed for sale in 2024 with an asking price of $18 million. The sale price is noted as a record for such an architecturally significant home, highlighting the value of preserving historic design.
Air India Express was ordered to compensate two passengers denied boarding on a Kochi-Abu Dhabi flight. The passengers, a mother and son, held valid tickets but were not allowed to board. They subsequently incurred extra expenses to travel to Sharjah instead. The consumer commission directed the airline to refund their ticket cost and pay additional compensation for inconvenience and legal costs.
RBI Governor Sanjay Malhotra stated that the economic impact of a failed India-US trade deal depends on the level of tariffs applied. He called it premature to give a definitive answer but acknowledged a negative effect would likely occur. Malhotra noted India has recently secured several other trade agreements. His comments came in response to a question about the potential consequences of the deal not being finalized.
The Supreme Court has ordered an individual named Rajpal to pay Rs 2 crore by October 13. The court made this directive in a case concerning financial matters, referencing a colloquial phrase about money. The specific nature of the case was not detailed in the provided excerpt. The order sets a firm deadline for the payment to be made.
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