A look at the headlines in the sector right now:

  1. RBI cuts repo rates by 25 basis points, as expected by many: The Monetary Policy Committee voted 4-2 in favour of the move, keeping lower inflation and the need for a pickup in bank credit in mind.  
  2. Apple is very bullish and optimistic about India, says CEO Tim Cook, as shares hit all-time high: The company is believed to have sought tax breaks towards setting up more manufacturing units in the country.  
  3. At least 50 cyber attacks reported in the financial sector since November 2016, says government: The Centre has constituted a digital payment division for protection of online payment, Union minister Hansraj Ahir said.  
  4. Insurance firms have still not settled farmers’ claims from 2016 kharif season, says report: They are now also trying to deal with their flooded plots in Gujarat and West Bengal.  
  5. Markets close in the red after RBI’s decision to slash policy rate fails to boost sentiment: The Sensex finished 98.43 points lower at 32476.74 while the Nifty was down 33.15 points at 10,081.50.  
  6. Google, Apple remove over 300 ‘high-risk’ trading apps from their stores: The Australian Securities and Investments Commission said the owners of these apps did not disclose the risk involved in the trading practice to its users.  
  7. Indus Waters Treaty allows India to build Kishanganga and Ratle hydro power plants, says World Bank: Pakistan has opposed their construction saying certain features of the facilities violate the provisions of the pact.