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China has kept its benchmark lending rates unchanged, surprising markets that expected a cut following the U.S. Federal Reserve's rate reduction. Analysts believe further stimulus measures are likely to support China's struggling economy. Recent weak economic data and President Xi Jinping's call for achieving development goals add urgency to potential policy actions.
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The Reserve Bank of India has lifted the restrictions on IIFL Finance's gold loan business, allowing the company to resume operations. The ban, imposed in March due to supervisory concerns, had led to a significant decline in IIFL's gold loan book and profits. The company can now comply with all relevant laws and regulations.
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News and Media
Stocks in news: Domestic markets remained almost unchanged in a volatile session. Reliance Infra plans to raise Rs 3,014 crore, NTPC approves Rs 9,701 crore investment, and SBI extends $50 million support to Maldives. RBI re-appoints V Vaidyanathan as IDFC First Bank CEO. Vodafone Idea faces scrutiny after a significant stock fall.
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