Business
RBI fighting a lost INR battle, say analysts
A stronger USD would imply higher global inflation exported by the US, lower global trade, cry for reverse FX wars, and pressure on equities and emerging markets assets, Emkay Global Financial Services said in a report.
The global narrative is undergoing a substantial regional rotation in favour of the US exceptionalism, even as we are unlikely to see the US growth upgrades. The theme of dollar dominance is still alive.
While GBPINR is down 4 per cent, USDINR is up 2 per cent since the September FOMC meeting — one of the worst EM hits.
“King Dollar is still on the throne… with RBI fighting a lost INR battle,” Emkay Global Financial Services said in the report.
“INR readjustment is catching up faster than peers, as it was held stronger in past adjustments by policy intervention. India’s massive FX defence, amounting to more than US$100bn estimated since October-21 (spot + forwards) means that the war-chest is falling faster than the pace at which the war is fading. Amid emerging regional imbalances, we reiterate that the RBI will eventually let the exchange rate adjust to new realities, albeit in an orderly manner, letting it act as an automatic macro stabilizer to the policy reaction function”, the report said.
The GBP free-fall and massive FX vols have only added another complicated layer to DM FX order, adding credence to our long stated view that dollar dominance is here to stay even as we are unlikely to see US growth upgrades in this downcycle.
US exceptionalism rub-off has finally let the INR loose, despite RBI’s active FX intervention — an indication of the impending range shift. INR readjustment has been swift, and the RBI will eventually need to let the exchange rate adjust to these new realities and act as a natural macro stabiliser, albeit orderly, the report added.
The direct macroeconomic impact of the UK shocks on India will be limited via the trade impact, but global risk will likely weigh on India in the near term. GBP weakness may aid Tata Motors on the UK operational front, albeit this will be countered by near-term MTM losses on its USD-denominated debt. In large-cap ITeS, TCS and Wipro lead in terms of GBP exposure.
Business
Assam saw major drop in child marriage cases under BJP govt: CM Sarma

Guwahati, Nov 26: Assam Chief Minister Himanta Biswa Sarma on Wednesday underscored a “major turnaround” in the state’s battle against child marriage, saying a combination of stringent enforcement and systemic reforms has led to significant declines in the underage marriages and boosted legal accountability.
CM Sarma claimed that according to NFHS‑4 (2015-16) data, 31.8 per cent of women in Assam aged 20–24 were married before turning 18 – a rate that exceeded the national average.
Moreover, district-level fact sheets had recorded alarming prevalence in districts such as Dhubri, South Salmara, Barpeta and Nagaon, as high as 40–55 per cent.
However, the state now claims a decisive shift. Between 2023 and 2024 alone, more than 8,600 arrests were made in coordinated crackdowns under both the Protection of Children from Sexual Offences Act (POCSO) and the Prohibition of Child Marriage Act (PCMA).
According to the Chief Minister, in 2022 the number of cases registered stood at 224, sharply up from just 149 in 2021, indicating a steep rise in enforcement.
CM Sarma said, “Beyond arrests, Assam has formed district-level task forces, headed by superintendents of police, to track and intercept impending child marriages. Community-level workers – including ASHAs, Anganwadi staff and schoolteachers – are now required to report suspected cases in real time.”
“Several districts have also reportedly established digital databases and child-protection tracking mechanisms,” he added.
The CM claimed that these measures have borne fruit: In hotspot districts, the incidence of child marriage fell by 8–17 per cent within a year, and more than 3,000 planned child marriages were prevented in 2023–24 alone.
Notably, the Assam government’s recent actions – from sustained crackdowns to setting up institutional safeguards – reflect a far more aggressive stance on child marriage than seen in earlier years, when the practice was largely treated as a social issue rather than a crime.
Business
Revanth Reddy urges PM Modi to declare Bengaluru-Hyderabad as defence & aerospace corridor

Hyderabad, Nov 26: Telangana Chief Minister A. Revanth Reddy, on Wednesday, appealed to Prime Minister Narendra Modi to declare Bengaluru-Hyderabad as a defence and aerospace corridor.
The Chief Minister said this during the inauguration of the French aerospace major Safran’s largest MRO centre for the CFM International LEAP engines in Hyderabad.
The Chief Minister stated that declaring Bengaluru-Hyderabad as a defence and aerospace corridor will contribute to Viksit Bharat.
The Safran Aircraft Engine Services India (SAESI) facility at the GMR AeroPark (SEZ) near Shamshabad will be operational in 2026.
The Chief Minister congratulated Safran for choosing Hyderabad for a big investment and thanked it for its trust and continued partnership with Telangana.
He stated that this new facility marks an important milestone for Telangana’s growth in the aerospace and defence sector.
Revanth Reddy noted that this is the first-ever Maintenance, Repair and Overhaul (MRO) centre for LEAP engines in India. Set up with an investment of ₹1,300 crore, the centre will employ over 1,000 skilled technicians and engineers, while also generating new business opportunities for local MSMEs and precision engineering firms, he said.
He said that the foundation stone was also laid today for Safran’s M88 Military Engine MRO, which will support both the Indian Air Force and the Indian Navy.
The Chief Minister emphasised that Hyderabad has emerged as a major aerospace and defence hub, home to more than 25 major global companies and over 1,500 MSMEs. He added that Telangana’s progressive industrial and MSME policies are ranked among the best in India.
He said that Hyderabad’s world-class infrastructure, aerospace parks and SEZs continue to attract mega investments from leading global companies, making the city a top choice for highly complex precision engineering projects.
He noted that Hyderabad is already a preferred destination for companies such as Safran, Boeing, Airbus, Tata, and Bharat Forge for manufacturing and R&D activities, and has become one of India’s leading MRO and aero-engine hubs.
The Chief Minister highlighted that Telangana’s aerospace and defence exports doubled last year, reaching ₹30,742 crore in just nine months, surpassing the state’s pharma exports for the first time.
He also mentioned that Telangana has consistently won the Best State Award for Aerospace from the Ministry of Civil Aviation.
He underscored that skilling is a key factor in attracting aerospace investments. Telangana has upgraded 100 Industrial Training Institutes into Advanced Technology Centres in partnership with Tata Technologies, ensuring youth are job-ready for advanced manufacturing.
He added that the Young India Skills University is offering specialised training in aircraft maintenance and invited Safran to be a lead partner in aerospace and MRO skilling initiatives.
Reaffirming Telangana’s commitment to supporting partners like Safran with world-class infrastructure, the Chief Minister spoke about the upcoming Bharat Future City, being developed across 30,000 acres as a planned, fully green, net-zero global destination – India’s answer to New York, Tokyo, Dubai and Singapore.
He extended an invitation to the Prime Minister to attend the ‘Telangana Rising 2047 – Global Summit’ at Bharat Future City on December 8 and 9, where the state’s long-term vision will be unveiled. Telangana aims to become a $1 trillion economy by 2035 and a $3 trillion economy by 2047.
Business
Sensex, Nifty open higher on global optimism

Mumbai, Nov 26: Indian share markets opened higher on Wednesday, supported by strong global cues.
The Sensex rose 260 points, or 0.31 per cent, to 84,847, while the Nifty gained 88 points, or 0.34 per cent, to trade at 25,973 during early trading session.
“The Nifty continues to remain range-bound, with resistance placed around 26,000–26,050 and near-term support at 25,750–25,800 ; a zone that may attract accumulation if tested,” analysts said.
“Fresh long positions can be considered once the Nifty convincingly crosses 26,100–26,130, while keeping a close watch on global cues and key technical levels,” market watchers added.
Global markets have been rallying for the third straight day as investors grow optimistic about a possible US Federal Reserve rate cut in December 2025.
This positive sentiment helped lift domestic equities as well.
Several major stocks led the gains on the Sensex, including Tata Motors PV, Trent, Adani Ports, Tata Steel, L&T, Ultratech Cement, Infosys, Maruti Suzuki, ICICI Bank and Tech Mahindra.
On the other hand, Bharti Airtel, Hindustan Unilever, and TCS were the only stocks that declined in early trade.
Broader markets also edged higher. The Nifty MidCap index climbed 0.53 per cent, while the Nifty SmallCap index advanced 0.79 per cent — showing strong interest from investors across the board.
Among sectors, metals were leading the market rally. The Nifty Metal index jumped 1.7 per cent.
PSU banks, IT, financial services, and private banks also saw gains of up to 0.8 per cent, contributing to the overall positive market mood.
Analysts said that the best strategy for retail investors is to refrain from trading and slowly accumulate fairy-valued high quality growth stocks which will be available at attractive valuations due to heightened volatility.
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