Frosty’s Ledger — Wednesday, 7 October 2026 edition

Economy & Policy

RBI MPC Meeting Oct 2026 Highlights: RBI MPC hikes repo rate by 25 bps to 5.5%, changes stance to 'calibrated tightening'

The central bank raised its FY2026–27 growth forecast from 6.7% to 7.1%, while lifting projected inflation to 5.2%…

BusinessLine·ET·BS·Mint·The Hindu·Moneycontrol6 papers2:32 PM

RBI MPC meeting October 2026: Repo rate hiked by 25 bps to 5.50%; growth, inflation forecast, other key takeawaysMint
RBI MPC meeting highlights: Repo rate hiked to 5.5%; rate cuts off the table in near term, Governor Sanjay Malhotra saysThe Hindu
RBI policy highlights: Repo rate rises 25 bps as inflation risks broadenBS
RBI hikes rate, but analysts see shift to ‘calibrated tightening’ as bigger takeaway. How can this impact markets?ET

World

Trump to speak to Putin about plague lab worker's death in Russia

Fears that the death may have been caused by pneumonic plague has prompted calls for more transparency from Russia.

BBC·ET·Mint·Reuters·CNBC·FT6 papers4:54 PM

Technology

SpaceX in talks with investors to borrow $40 billion to buy Nvidia chips

SpaceX is in early talks with banks and investors to raise $40 billion to fund purchases of Nvidia chips, potentially marking one of the largest AI-related debt financings…

BS·Mint·BusinessLine·Reuters·ET·MarketWatch6 papers9:15 AM

Economy & Policy

Small fee unlikely to impact UPI transaction volumes: RBI Governor on MDR

RBI Governor Sanjay Malhotra said a small MDR on select UPI payments is unlikely to materially affect transaction volumes as the new charge takes effect from October 15…

BS·ET·Mint·NDTV Profit·Moneycontrol5 papers2:18 PM

UPI charges: Will 0.4% MDR lead to fewer transactions? RBI Governor respondsFin. Express

World

Nobel Prize 2026 in chemistry awarded to Henri B Kagan and Kenso Soai

Henri B Kagan and Kenso Soai won the 2026 Nobel Prize in Chemistry for discoveries that helped explain how chemical reactions can produce molecules with the same handedness…

BS·BusinessLine·NDTV Profit·ET·WSJ5 papers3:25 PM

Chemistry Nobel awarded for solving mystery of life's asymmetryBBC

Markets

Rupee falls 22 paise to 96.57 against US dollar post RBI rate increase

The Indian rupee experienced a drop following the Reserve Bank of India's decision to raise interest rates by 25 basis points. This move is intended to manage the surging inflation linked to ongoing geopolitical issues in West Asia.

ET·BS·BusinessLine·The Hindu4 papers9:47 AM

Markets

Kotak Mahindra Bank shares rise 2% as HSBC upgrades stock to buy

The lender’s shares advanced after HSBC cited improving growth prospects, while recent developments supported a more constructive view on earnings.

BusinessLine·Moneycontrol·ET3 papers3:46 PM

Companies & Deals

Kalyan Jewellers logs 26% rise in Q2 revenue

Kalyan Jewellers plans to launch another four showrooms, under the franchised model, over the course of the current financial year…

BusinessLine·BS·Fin. Express·ET4 papers9:47 AM

Your Watchlist

Tap for charts

Nifty Movers

Today’s session

Top losers

Titan▼ 3.80%
Adani Enterprises▼ 3.75%
Hindalco▼ 3.15%
JSW Steel▼ 2.35%
BEL▼ 2.35%

The Week Ahead

Times in IST

Today7OctRBI policy decisionRate call after the 5–7 Oct MPC meeting · 10 AM ISTIN
Mon12OctIndia inflation (CPI)September figures · 4 PM ISTIN
Wed14OctIndia wholesale prices (WPI)September figures · 12 noon ISTIN

The CFA & CA Lens

Today’s news, exam-style

CFA Level I

Economics

The repo rate & policy transmission

In the newsRBI MPC Meeting Oct 2026 Highlights: RBI MPC hikes repo rate by 25 bps to 5.5%, changes stance to 'calibrated tightening'

The repo rate is what the RBI charges banks for overnight loans against government bonds. Raising it makes borrowing costlier across the economy to cool inflation; cutting it does the opposite.

Exam angleTransmission runs policy rate → bank lending and deposit rates → spending and investment → growth and inflation, with a lag. Policy is contractionary when the policy rate sits above the neutral rate.

Alternative Investments

Venture capital & startup valuations

In the newsSpaceX in talks with investors to borrow $40 billion to buy Nvidia chips

Startups raise money in rounds, and each round sets a price for the whole company. A unicorn is a private company valued above $1 billion.

Exam anglePost-money valuation = pre-money valuation + new investment. VC returns come from a few big winners that make up for many failures.

Equity Investments

Payments & network effects

In the newsSmall fee unlikely to impact UPI transaction volumes: RBI Governor on MDR

UPI moves money instantly between bank accounts. The MDR is the fee a merchant pays on each digital payment, and who bears it shapes how widely it is used.

Exam angleNetwork effects: each new user makes a platform more valuable to every existing user, which can build a strong competitive moat.

CA · ICAI

CA Final · Advanced Financial Management

Hedging currency risk

In the newsRupee falls 22 paise to 96.57 against US dollar post RBI rate increase

Exporters and importers use forward contracts to lock in today the exchange rate they'll get when the payment actually arrives.

Exam angleForward rate by interest rate parity (direct quote): F = S × (1 + r_home) ÷ (1 + r_foreign). An exporter hedges by selling dollars forward.

CA Final · Financial Reporting

Revenue recognition

In the newsKalyan Jewellers logs 26% rise in Q2 revenue

Revenue is recognised when control of goods or services passes to the customer, not simply when cash arrives or a contract is signed.

Exam angleInd AS 115's five steps: identify the contract → performance obligations → transaction price → allocate it → recognise as each obligation is satisfied.

CA Final · Indirect Tax Laws

Customs & anti-dumping duty

In the newsBharti Airtel hikes postpaid tariffs by ₹50, adds free international roaming

Goods coming into India pay basic customs duty plus IGST. Anti-dumping and safeguard duties are extra levies that protect local producers from unfairly cheap imports.

Exam angleIGST paid on imports is available as input tax credit; basic customs duty is not, so it becomes part of the cost of the goods.

Markets

17 stories

Bharti Airtel hikes postpaid tariffs by ₹50, adds free international roaming

Airtel’s revamped postpaid portfolio combines additional roaming benefits with data, calling, entertainment subscriptions and protection against spam and fraud…

BusinessLine·BS·Moneycontrol3 papers12:25 PM

Stock Market Close: Sensex falls 429 pts, Nifty ends at 22,603 as RBI hikes rate amid price pressure

Sensex Today | Stock Market Highlights, Wednesday: In the broader markets, the Nifty MidCap 100 fell 0.63 per cent and the Nifty SmallCap 100 rose 0.30 per cent…

BS·BusinessLine3:52 PM

US 30-Year Yield Hits 5.70%, Highest Since 2002 As Bond Selloff Deepens

US 30-year yield on Wednesday, October 7 climbed 5 basis points to 5.70%…

NDTV Profit·ET·WSJ3 papers3:50 PM

Markets can be irrational in short term, rupee may be undervalued: RBI Guv

Malhotra said financial markets can be irrational in the short run and noted that measures including the REER suggest the rupee may be undervalued…

BS·Reuters·ET3 papers2:02 PM

US EIA hikes oil price forecasts again as Iran war drains global stockpile

Reuters·ETYesterday 11:09 PM

Iran-backed Houthis claim new attacks on Saudi Arabia, Yemen's Aden airport

Iran-backed Houthi rebels claimed responsibility for missile and drone attacks targeting military and civilian facilities in Saudi Arabia. The attacks included strikes on King Khalid International Airport, and flights were briefly disrupted as a result.

ET·WSJ7:03 AM

RBI signals more rate hikes ahead: Could 7.25% yield level become a near-term market reference point?

Global yields have risen sharply as the rate-hike cycle has started. Moreover, there are concerns over rising fiscal deficit which is also making investors sell bonds aggressively, driving yields up.

Mint·BusinessLine4:49 PM

Also in Markets

Economy & Policy

17 stories

RBI MPC raises FY27 inflation forecast to 5.2%, projects GDP growth at 7.1%

RBI MPC October 2026: The policy committee raised the repo rate to 5.5% and changed the stance to 'calibrated tightening'

BS·BusinessLine·Moneycontrol·ET4 papers10:24 AM

RBI repo rate hike: How will the 25 bps increase affect your home-loan EMI? Experts explain

RBI has raised the repo rate by 25 bps to 5.50%, increasing borrowing costs for consumers with floating-rate loans linked to external benchmarks.

Mint·BS·BusinessLine·Moneycontrol·ET5 papers11:48 AM

World Bank ups India’s growth to 7.1% in FY27

In its latest India Development Update, the World Bank notes that medium-term prospects are strong but also cautions that “external risks are elevated”

BusinessLine·BS·Mint·The Hindu·ET5 papersYesterday 10:07 PM

FX reserves fall for fourth week, down $50 billion from September peak

The reserves have dropped from their recent peak of $785.71 billion on September 4, a decline of about $50 billion in less than a ‌month…

BS·BusinessLine·Reuters·ET4 papers1:58 PM

Egypt, Lebanon, Oman, Cyprus keen to join: ‘Multiple routes’ key for IMEC amid Hormuz crisis, says French envoy

Egypt, Lebanon, Oman and Cyprus are interested in joining IMEC, French envoy Gérard Mestrallet said. An IMEC ministerial meeting could be held by year-end to consider expanding the corridor, as Gaza, Iran and Hormuz disruptions have increased the need for resilient…

Mint·Fin. Express·ET3 papers12:37 PM

‘Cannot compare’: French envoy on why IMEC’s financing model is ‘very different’ from China’s BRI | ExclusiveMint

RBI allows account aggregator interoperability, enables CAS bank deposits

Customers will be able to access financial information through any NBFC-AA, while demat account holders can also view bank deposit details in consolidated statements…

BS·BusinessLine·ET3 papers11:30 AM

RBI opens up Account Aggregator network, making financial data sharing easier for consumersET

Union Cabinet approves ₹10,000 crore commitment to SME Growth Fund

The fund will provide growth capital to SMEs seeking to expand capacity, adopt technology, enter global markets, make acquisitions and join global value chains…

BS·BusinessLine·The Hindu·ET4 papersYesterday 4:22 PM

Also in Economy & Policy

Companies & Deals

17 stories

Reliance gets court relief over FSSAI ban on Campa's 'energy drink' label

The relief came after the Food Safety and Standards Authority of India (FSSAI) in June directed makers of high-caffeine beverages sold as 'energy drinks' to stop using the description…

BS·Mint·BusinessLine3 papersYesterday 2:14 PM

Delhi HC allows Reliance to sell Campa as 'energy drink', stays FSSAI orderBS

Paramount Skydance completes $110 billion Warner Bros Discovery deal: David Ellison takes control of new Hollywood giant

The Warner Bros Discovery acquisition now gives CEO Ellison control over an entertainment portfolio that includes some of the world's most valuable film, television and streaming properties.

Mint·Reuters·Fin. Express3 papersYesterday 6:45 PM

Reliance drives India's Venezuela oil imports to seven-year high in Oct

Venezuelan crude deliveries to India are expected to more than double to about 465,000 barrels a day this month, from 196,000 in September, according to Kpler estimate…

BS·BusinessLine·ET3 papers2:12 PM

L&T gets initial nod to build main part of 1,600 MW thermal power plant in Jharkhand

L&T’s work will include the design, manufacture and supply of key equipment, including boilers, steam turbines, generators and electrostatic precipitators (ESPs), etc…

BusinessLine·ET·The Hindu3 papers1:26 PM

Steel ministry unlikely to seek curbs on cheap imports despite mills' plea

New Delhi had last December imposed import tariffs on some grades for three years but despite the measure, there has been a surge in imports…

BS·Reuters·ET3 papers10:50 AM

EU negotiators head to China hoping to curb cheap imports of hybrid electric carsGuardian

Uber to acquire ezCater in $2.3 billion deal as Uber Eats expands

The deal will combine ezCater’s catering expertise with Uber Eats’ consumer and restaurant network and Uber for Business relationships with organisations…

BusinessLine·ET·WSJ3 papers7:31 AM

Uber bets $2.3 billion on ezCater to narrow gap with DoorDashReuters

RBI rate hike may pressure housing affordability, but demand seen resilient

Developers and consultants expect the impact to be sharper in affordable and mid-income housing, while premium demand and broader sector momentum remain relatively resilient…

BS·ET12:44 PM

Also in Companies & Deals

Emmy Awards leave broadcast TV for Prime Video in 2027 under six-year deal
CNBC·NYT·WSJ3 papers1:05 AM
Ericsson to export India-made antennas to Europe; India has competitive edge for 6G: Executive
ET·BusinessLine2:09 PM
Neuberg Diagnostics consolidates Maharashtra operations with NM Medical
BusinessLine·BS·ET3 papersYesterday 9:03 PM
Air India, Singapore Airlines announce expansion of commercial cooperation
BS·BusinessLine12:39 PM
GST Council meet: Industry seeks smoother refunds and fewer notices
BS2:28 PM
Hinduja Tech names Faiz Ahmad as CEO
BusinessLine·The Hindu9:15 AM
BGR Energy signs pact to recast ₹3,736-cr debt
BusinessLine3:42 PM
Titan reports 25% revenue growth in Q2FY27, jewellery sales up 21%
BS2:37 PM
Google enters massive 3.6-GW power deal with Constellation Energy
Reuters·ET·WSJ3 papersYesterday 9:24 PM
Flipkart's ex-employees press Walmart for ‘fair’ ESOP treatment ahead of IPO: Report
Mint·Moneycontrol4:40 PM

World

15 stories

23 Indians rescued after oil tanker attacked off Russia's Black Sea coast

A Liberia-flagged vessel carrying oil, with a crew of 23 Indian nationals, came under attack by drone boats off Russia's Black Sea coast, Russian authorities said.

BS·Mint·Reuters3 papers11:47 AM

Attack on oil tanker leaves 12 injured, Indian ministry saysReuters

IMF chief warns energy shock, growing debt and AI risks threaten global growth

Reuters·ET11:36 AM

Nobody knows who is running Iran, says Trump as war enters eighth month

Iran's foreign ministry spokesman said on Sunday Washington knows very well who their counterpart is in Iran and how the decision-making system in Iran works…

BS·Reuters·ET3 papers8:37 AM

‘Nobody knows who the hell is running the country’: Trump says Iran’s leaders are goneET

FlyDubai co-pilot accused of murder-suicide mission trained to fly in UK

Hamam al-Hammami, 29, trained with L3 Airline Academy, a company that's now part of Acron Aviation, between 2018 and 2019 and received lessons at one or more centers in England…

BS·Mint9:05 AM

flydubai pilot suffered depressed skull fracture while fighting off co-pilot who attacked him with axeET

Russia Strikes Ukraine With Ballistic Missiles Across Residential, Industrial Sites; Eight Killed

Russia launched a massive overnight barrage of drones and missiles across Ukraine, killing at least eight people and damaging homes, industrial sites and key infrastructure.

NDTV Profit3:51 PM

Israel marks three years since Hamas' October 7 attack

Israel is commemorating the anniversary of Hamas's October 7 attack, which killed 1,221 people and resulted in numerous hostages. Memorial events are taking place nationwide under heightened security, amidst preparations for general elections in three weeks.

ET·BS7:42 AM

Israelis mark three years since October 7 as Palestinians mourn Gaza's destructionReuters

Christa Pike is conscious and speaking after Tennessee failed execution | All you need to know about her recovery

Christa Pike is conscious and speaking six days after Tennessee's failed lethal injection attempt. Her recovery, the circumstances of the execution and the legal questions surrounding a possible second attempt remain uncertain.

Mint7:45 AM

Also in World

Technology

11 stories

Google ordered to halt work on two data centers in ‘Texas of Europe’

Finland has emerged as a key location for data centers amid the AI boom.

CNBC·BBC2:56 PM

India among top 10 emerging markets in AI readiness: World Bank

India is among the top 10 leading emerging-market performers in artificial intelligence (AI) readiness and is well positioned to harness the technology, helped by its large technical workforce, globally integrated IT sector and digital public infrastructure, the World…

BS·Mint·BusinessLine·ET4 papersYesterday 4:59 PM

AI a 'classic bubble' that is nearing bursting point, warns Ray Dalio

His comments come as technology giants spend hundreds of billions of dollars on AI, increasingly financed with debt, and as market gains concentrate in a handful of stocks…

BS·NDTV Profit·ET3 papers10:25 AM

Ray Dalio warns China, Japan may cut demand for US Treasuries, flags risks of AI bubbleFin. Express

Boston Dynamics appoints former Amazon executive Rohit Prasad as CEO

Prasad brings 12 years of experience at Amazon, where he helped build and expand Alexa, after earlier machine-learning research at Raytheon.

BusinessLine·Reuters·ET3 papers9:13 AM

TCS Q2 preview: Brokerages see healthy margins expansion despite modest revenue growth

AI momentum and robust deal wins may help offset slow deal ramp-ups and macro headwinds…

BusinessLine10:00 AM

Also in Technology

Opinion

5 stories

Why do billionaires have so many children if they’re not prepared to parent them? | Arwa Mahdawi

Kim Kardashian’s revelation that she has five nannies for four children caused a ruckus. But the world of the ultra-wealthy throws up far more extreme approaches to childcare “I have the best advice for women in business,” Kim Kardashian told Variety in 2022 .

Guardian3:30 PM

Why charging for UPI changes the math

If ₹100 collected in MDR causes more than ₹100 of economic value to disappear elsewhere, the payment system ends up better funded and the country poorer…

The Hindu12:08 PM

Stop worrying about my AI, says multibillionaire Sam Altman. So we bear the risks and he keeps the money | Chris Stokel-Walker

OpenAI’s CEO seems to want to privatise his company’s huge financial gains while making all of us pay for any negative consequences Tech bros’ messianic streaks can show up in subtle ways. But one of Sam Altman’s flaws is that he often lacks that subtlety.

GuardianYesterday 9:00 PM

Sorry, but I’m bringing my iced coffee to the job interview | Tayo Bero

What, exactly, about the drink is so distracting? The viral debate raises bigger questions about who defines ‘professionalism’ The great iced coffee debate of 2026 is the latest submission to the young-people-just-don’t-get-it discourse and, of course, it’s as…

GuardianYesterday 6:30 PM

While British children go hungry, we waste 1.1bn meals a year. Bring on the redistribution revolution | Charlotte Hill

Food businesses and the government must make redistribution a key policy to address food insecurity. We know the surplus food is out there Charlotte Hill is chief executive of the food redistribution organisation Felix How often does this happen?

GuardianYesterday 12:30 PM

From the Regulators

Official releases

Reserve Bank of India

US Federal Reserve

Subscriber Desk

Behind a paywall — headline and summary only

The Wall Street Journal

Stock Market Today: S&P 500, Nasdaq Futures Retreat After Record Highs
Treasury yields inch higher; oil rises…
2:04 PM
Wall Street Bonus Bonanza; Plus, U.S. Trade Deficit Widens
Also, the Disney lawyer fighting the FCC.
4:25 PM
U.S. Investors Have an ‘Exorbitant Privilege’
Plus, AI stocks do the heavy lifting…
3:57 PM
Weaning Markets Off Fed Speak
The Best Apple and Tech Deals from Amazon’s Prime Big Deal Days…
3:55 PM
Health Care Roundup: Market Talk
Find insight on Top Glove and more in the latest Market Talks covering the health care sector.
3:54 PM
Sterling Rises Vs Euro on BOE Rate-Rise Bets, French Debt Worries
Sterling rose to a 16-month high against the euro as markets bet on the BOE raising interest rates.
3:48 PM

Financial Times

Ships’ captains paid $100,000 a month to transit Strait of Hormuz
Salaries and bonuses spiral for seafarers willing to risk perilous trip through waterway in face of Iranian attacks…
1:30 AM
AI agents could cost banks $500bn — by winning savers better rates
Banks will gain from AI as well as lose…
2:21 PM
Robust AI spending sets investors up for another bumper US earnings season
S&P 500 earnings are forecast to rise 27% against a backdrop of stock market highs and elevated longer-term borrowing costs…
9:30 AM
Blue Owl to launch ‘big push’ into insurance
Group at centre of recent private credit turmoil says it is ‘not managing enough capital’
9:30 AM
How much longer can the world absorb the Iran shock?
The disruption to oil supply, oil prices and the world economy has been surprisingly manageable so far…
9:30 AM

Bloomberg

Emerging Stocks Halt Advance as Hormuz Tensions Come Into Focus
Emerging-market stocks halted their advance and an index gauging the asset class’s currency returns declined as a flare-up in Middle-East tensions boosted the oil price and the dollar.
4:52 PM
US Mortgage Rates Jump to 7.49%, Highest in Nearly Three Years
US mortgage rates climbed for a seventh straight week to their highest level in nearly three years, compounding the nation’s affordability problem.
4:30 PM
Student Lender Collapses as Immigrant Crackdown Roils Loan Book
A US lender specializing in loans to international students has largely shuttered its operations after losing access to fresh financing, marking one of the most significant corporate collapses triggered by the Trump administration’s immigration crackdown.
4:00 PM
Dangote Refinery Offers East Africa Almost 20% of IPO Shares
Dangote Petroleum Refinery & Petrochemicals FZE, which owns Africa’s biggest crude-processing facility in Nigeria, is offering investors based in the continent’s east an almost 20% share its initial public offering that could raise as much as $300.4 million.
3:57 PM

The Economist

American investors’ trick to lower taxes: lose money
The taxman is losing patience with the shrewd use of tax losses…
Yesterday 11:11 PM

The New York Times

Europe’s Trade Tensions With China Are Coming to a Head
The European Union is weighing tougher trade measures as negotiators prepare to meet Chinese officials in Beijing, with surging exports from China pressuring key industries in Europe.
2:36 PM
China’s ‘Self-Reliance’ Drive Is Upending Trade With Europe
China’s push to manufacture more at home has widened its trade imbalance with Europe, intensifying pressure on European industries and policymakers to take action.
2:32 PM
Porsche, Facing Falling Profits, Plans to Cut 25% of Its Work Force
The German sports car maker once thrived in China and powered profits for its parent company, Volkswagen. Now it hopes to do more with less.
1:45 PM
How Trump’s Tariff War With Canada Ensnared the Can-Am Spyder
The Can-Am Spyder has a devoted fan base across the United States. Now it’s a casualty in the trade war with Canada.
8:52 AM

MarketWatch

These two hard-hit stocks are poised for a comeback, says fund manager
CoStar and Duolingo are two stocks that have faced investor pessimism, but present potential, according to Baillie Gifford.
4:51 PM
Meta stock scores a rare ‘golden cross’ buy signal as investors swarm to its top-charting AI agent
Meta Platforms, whose stock has thrived after the introduction of an artificial-intelligence assistant, just got another piece of good news.
4:48 PM
Elon Musk and Intel CEO shore up chipmaker’s role in Terafab project — and here’s what the news is doing to the stock.
Elon Musk and Intel’s CEO have said the company’s involvement in the Terafab chip plant will continue, boosting shares.
3:54 PM
My brother-in-law convinced his parents to sign over their home and life savings to buy a $3 million compound. Do I intervene?
“Both properties will be solely in his name.”
3:45 PM

Premium stories from other papers

Brussels looks to capture Big Tech through tax on large corporations
Brussels is considering taxing big US tech companies through a broad levy on large corporations in an effort to raise revenues for the EU while avoiding a backlash from the Trump administration, the Financial Times reported on Wednesday.
ET·11:20 AM
NTPC may buy 10 million tonnes of coal from commercial mines
This would be the second year when the company has procured from commercial mines. In FY25, it had procured around 4 mt. India's largest power generator is expected a coal requirement of around 300 mt in FY27, up 11% from FY26.
ET·12:50 AM
Mint Explainer | GST Council meeting: what could change for refunds, enforcement and rate changes
The 57th GST Council meeting could reshape rules on tax refunds, input tax credit, enforcement, buyer protection and the frequency of GST rate changes.
Mint·2:29 PM
RBI allows Sebi-regulated depositories to include customer deposit details in statements: What changes for investors?
The Reserve Bank of India (RBI) on Wednesday approved measures to allow Sebi-registered depositories to include bank deposit details in their consolidated account statements (CAS)."We are also facilitating SEBI-regulated depositories to include information related to…
ET·11:39 AM
Indian oil manager killed while sealing pump
ET·4:43 PM
Apple home hub expected with LG partnership: Report
ET·2:36 PM