In today’s newsletter, we bring you a CNBC-TV18 exclusive with RBI Governor Shaktikanta Das, who reassures that despite a mixed festive demand outlook, the Indian economy is resilient and poses no systemic risks in the banking sector or NBFCs. The RBI’s targeted enforcement actions on specific NBFCs prioritize customer protection and financial stability.

In the corporate sector, Bharti Airtel and Ambuja Cements outperformed Q2 forecasts, with Airtel’s net profit tripling year-on-year and Ambuja achieving 15% volume growth, supported by incentives governmental.

In defense, Prime Minister Modi and Spanish Prime Minister Pedro Sanchez inaugurated the Tata-Airbus C-295 manufacturing plant in Gujarat, marking the first assembly of private military aircraft in India and a milestone towards autonomy in defense matters.

On the world stage, Iran is warning Israel of the “bitter consequences” of recent strikes, while Japan faces political uncertainty as its ruling coalition loses majority support. Meanwhile, US candidates Trump and Harris are stepping up their campaigns in a heated final week, underscoring the country’s ideological divide. Stay with us for more details.

RBI Governor on NBFC crackdown: Actions in ‘best interest of customers’ | Exclusive

Reserve Bank of India (RBI) Governor Shaktikanta Das believes that the banking and non-banking financial companies (NBFC) sectors remain robust, with regulatory and financial parameters remaining strong. However, in an exclusive interaction with CNBC-TV18, he said the central bank has strengthened supervision of some NBFCs and microfinance institutions (MFIs) to protect the interests of customers and maintain the health of the sector.

The RBI recently took a tough stance by stopping loan disbursement activities of four NBFCs: Asirvad Micro Finance Limited, Arohan Financial Services Limited, DMI Finance Private Limited and Navi Finserv Limited. With effect from October 21, 2024, the action has been taken under section 45L(1)(b) of the RBI Act, 1934.

Learn more

RBI Governor Shaktikanta Das remains an inflation hawk: exclusive

Reserve Bank of India (RBI) Governor Shaktikanta Das reiterated that inflation in India is starting to moderate but there are significant risks. “We are in a position where growth and inflation are well balanced and any premature action can upset the balance,” he said.

The remarks come weeks after the RBI’s Monetary Policy Committee (MPC) kept the inflation forecast for 2024-25 at 4.5 per cent in its fourth fortnightly policy decision of the year on October 9. inflation projection slightly at 4.4% and 4.4%, respectively.

Learn more

PM Modi and Spanish counterpart Pedro Sanchez unveil Tata-Airbus Gujarat unit

Prime Minister Narendra Modi and Spanish Prime Minister Pedro Sanchez inaugurated the Tata Aeronautical Complex at the Tata Advanced Systems Limited (TASL) campus in Vadodara, Gujarat today, October 28.

This historic facility, dedicated to the manufacture of C-295 military transport aircraft, represents a major step forward in India’s ambition to achieve self-sufficiency in defense production.

Of the 56 C-295 aircraft ordered for the Indian Air Force (IAF), Airbus will deliver 16 from Spain in flying condition, while the remaining 40 will be manufactured domestically, which will be the first private sector military aircraft final assembly line in India.

Learn more

Banks power Nifty 50, Sensex to end 5-day losing streak

The Nifty 50 and Sensex rose sharply on Monday, ending a five-day losing streak as strong performance in banking stocks boosted the benchmark indices.

The Nifty gained 158 points to 24,339 and the Sensex climbed 603 points to 80,005. The midcap index jumped 459 points to 55,737, while the Nifty Bank rose 472 points to 51,259.

Monday marked the start of a new round of second quarter results for Indian companies.

Learn more

Bharti Airtel’s Q2 net profit hits ₹3,593 crore on rise in ARPU; beats estimates

Bharti Airtel Q2 Results | Telecom operator Bharti Airtel Ltd on Monday (October 28) reported a 168 per cent year-on-year (y-o-y) rise in net profit at ₹3,593.2 crore for the second quarter ended September 30 2024.

In the corresponding quarter of the previous financial year, Bharti Airtel reported a net profit of ₹1,341 crore, the company said in a regulatory filing. The CNBC-TV18 poll predicted a profit of ₹4,336 crore for the quarter under review.

Learn more

Amid Ola Electric scrutiny, another EV maker could be put on notice from government: sources

The Ministry of Consumer Affairs is currently conducting a thorough review of Ola Electric’s response to a show cause notice from the Central Consumer Protection Authority (CCPA), according to sources cited by CNBC TV18.

The advisory was issued following over 10,000 consumer complaints registered with the National Consumer Helpline, most of which highlighted issues with Ola’s after-sales service. Ola Electric claims to have resolved 99% of these complaints; However, this figure is now under scrutiny as the CCPA seeks to cross-reference consumer responses with company records to verify the accuracy of its resolution rate.

Learn more

2024 US presidential election: Trump refuses to rethink proposal to replace income tax with tariffs

Former US President and Republican presidential candidate Donald Trump has reiterated his proposal to eliminate the income tax and replace it with tariffs.

Speaking from an airplane hangar at Austin-Bergstrom International Airport on Joe Rogan’s wildly popular podcast, Trump reiterated his commitment to this economic overhaul as part of his campaign strategy ahead of the state election. November 5.

During the three-hour conversation, Rogan questioned Trump’s intentions, asking: “Did you just float the idea of ​​eliminating the income tax and replacing it with tariffs?” Trump confirmed, replying: “Yeah, sure, but why not?”

What are Trump’s controversial policies?

Read here

Japan faces political upheaval as LDP coalition loses majority

Japan faces political instability after Prime Minister Shigeru Ishiba’s gamble to call early elections backfired, with the ruling coalition failing to secure a majority in parliament for the first time since 2009 .

Voter discontent over the slush fund scandal has dented support for Ishiba’s Liberal Democratic Party, leaving it and its ruling partner, Komeito, failing to secure the 233 seats needed to win. a majority in the lower house, according to a count carried out by the public channel NHK. Investigations by other media outlets have yielded similar results.

Learn more

Iran vows to use ‘all available tools’ in response to Israeli airstrikes

Iran has declared its intention to use “all available tools” in response to recent Israeli military strikes against its facilities. Iranian Foreign Ministry spokesperson Esmaeil Baghaei made the assertion during a televised press conference on Monday (October 28), following the weekend’s Israeli airstrike, which targeted military installations in Iran.

“Iran will use all available tools to provide a definitive and effective response to the Zionist regime (Israel),” he said.

Learn more

Tata-Airbus C295 manufacturing a major step forward in India’s aerospace autonomy, says Defense Secretary

Defense Secretary Giridhar Aramane believes that the collaboration between Tata Advanced Systems Limited (TASL) and Airbus Defense to manufacture the C295 tactical airlift aircraft in India is a major step towards making the aerospace sector self-reliant.

In an interview with CNBC-TV18, Aramane noted that while 16 planes will arrive from Spain in flying condition, the remaining 40 will be manufactured in the country by Tata, with each plane having significant components made in India, including in electronics and war systems. Aramane remarked: “The efforts made in India will bear fruit in a major way in this project. »

Learn more

That’s it, friends! Keep up to date with the latest news, opinions and ideas for making money only on cnbctv18.com.

Beyond the #Newsroom ????

Follow CNBC-TV18 channel on WhatsApp

Get juicy updates on the go! – CNBCTV18 Minis

Watch all #videos under one segment- CNBCTV18 binge

We bring you real-time updates and analysis of the stock market. Real-time market updates

We’ll see you tomorrow with another engaging ‘Top 10@10’