RBI set for rate cut, banks’ cost of funds may not drop

About the AuthorBharti JainBharti Jain is a senior editor at The Times of India, specializing in security issues since 1996. Having covered significant political and strategic matters, she joined TOI in 2012, focusing on terrorism, internal strife, and India's neighborhood affairs.Read More Want More Context? 🔎

US President Donald Trump has announced a 25% additional tariff on Indian exports, effective August 27, raising total tariffs to 50%, significantly affecting sectors like gems and jewellery, textiles, and seafood, which constitute around 25% of India's US exports. The new tariffs are projected to challenge micro, small, and medium enterprises, particularly in the automotive and chemical sectors, while some industries like pharmaceuticals remain unaffected. Want More Context? 🔎

Rashtriya Swayamsevak Sangh chief Mohan Bhagwat emphasized the shared heritage of Indians, stating that their DNA has remained constant for over 40,000 years, and underscored the importance of harmony and unity in diversity at the "100 Years Journey of RSS" event in New Delhi. He called for social transformation to elevate India to its rightful place as a "vishwaguru," expressing disappointment in the nation’s progress since Independence and advocating for collective effort in achieving national...

At least five people were killed and fourteen injured due to a landslide triggered by heavy rainfall on the route to the Mata Vaishno Devi shrine in Jammu and Kashmir's Reasi district. The incident has led to the suspension of the pilgrimage and significant disruptions, including the cancellation of nearly 18 trains and the closure of major highways due to flooding and landslides. Want More Context? 🔎

German envoy Georg Enzweiler criticized the US tariffs on various countries as "obstacles to free trade" and advocated for minimizing tariffs during a media interaction. This statement follows the US's announcement of additional tariffs on India, effective August 27, as a response to perceived threats from Russia, impacting a wide range of Indian products. Want More Context? 🔎

Heavy flooding from the Beas river has severely impacted the Chandigarh-Manali highway, washing away sections near Kullu and blocking the Manali-Leh road, with multiple vehicles damaged and businesses affected. A red alert has been issued, leading to school closures across several districts, while traffic diversions are in place as rescue efforts continue. Want More Context? 🔎