RBI Transfers Record Surplus to Government

The Trump administration's foreign enrolment ban at Harvard University may seem distant from financial markets, but it significantly impacts them. This unpredictability has raised bond yields globally, affecting investor confidence. While the US dollar weakens, emerging markets like India benefit from increased foreign investments. Despite challenges, India's economy shows resilience, with strong growth in exports and employment. However, caution is warranted regarding high valuations in the equity markets. As global uncertainties mount, investors must tread carefully, balancing opportunities against potential risks.

India's Test squad for the England series starting June 20 has been announced, with Shubman Gill as captain and Rishabh Pant as vice-captain. Karun Nair returns to the team, while Jasprit Bumrah will miss all five Tests. The absence of cricket legends Virat Kohli and Rohit Sharma, who have retired from Test cricket, will be felt, but chief selector Ajit Agarkar sees this as a chance for younger players to shine. The team will also miss senior players like Mohammed Shami and R. Ashwin, making it a pivotal moment for India's cricketing future.

Google is unveiling exciting advancements in artificial intelligence (AI) at the I/O conference, aiming to create a universal AI assistant for everyone. CEO Sundar Pichai emphasized the rapid global adoption of AI, highlighting Project Starline and the new Gemini app, which will enhance video communications and everyday tasks. With 400 million users and new features like Gemini Live, Google is set to revolutionize how we interact with technology. This innovation promises to make tasks like planning events or researching topics easier and more efficient, showcasing the future of AI in daily life.

Bollywood mourns the loss of Mukul Dev, a talented actor known for films like Son of Sardaar and Jai Ho, who passed away at 54. He had been unwell and was recently in the ICU in Delhi. Friends and colleagues were deeply saddened by the news, with heartfelt tributes pouring in on social media. His close friend, actress Deepshikha Nagpal, shared a tribute, expressing disbelief over his death. Mukul, born into a Punjabi family, showcased remarkable versatility in his performances, leaving a lasting impact on Indian cinema. He is survived by his brother Rahul Dev.

In a humorous and satirical exchange, Shashi Tharoor meets Donald Trump and Elon Musk. Trump, with his typical bravado, boasts about his influence on global peace and tariffs, while Tharoor tries to convey serious geopolitical issues, particularly concerning Pakistan. The dialogue dances between light-hearted banter and poignant realities of international relations. Despite the awkward interruptions and comical misunderstandings, there’s an underlying message about diplomacy and cooperation, reflecting the complex dynamics between India, the U.S., and Pakistan.

Delhi has witnessed a rise in coronavirus cases, prompting health officials to ensure hospitals are prepared with essential resources like beds, oxygen, and vaccines. So far, 23 cases have been reported, with mild symptoms. The government is actively monitoring the situation, forming a team to address any challenges. Similar spikes in cases are seen across several Indian states and in countries like Singapore and Hong Kong. Notably, the JN.1 variant and its descendants are linked to the recent surge, but officials assure that most cases remain mild and manageable.

Google is rapidly integrating artificial intelligence (AI) into its services like Search, shopping, and video communications, aiming for a universal AI assistant. CEO Sundar Pichai highlighted the swift adoption of AI across the globe, transforming decades of research into practical applications. Innovations like Project Starline and the Gemini app promise to enhance user experience by offering intelligent, context-aware assistance for everyday tasks. With a focus on advanced reasoning and user interactivity, Google’s AI tools are set to revolutionize how we interact with technology.

Vaibhav Taneja, the Indian-origin CFO of Tesla, made headlines in 2024 with a staggering $139 million salary, boosted by stock options. This pay eclipses that of tech giants like Satya Nadella and Sundar Pichai. Despite Tesla's sales slump linked to CEO Elon Musk's controversial actions, Taneja's compensation reflects a significant rise in his career. With a commerce degree from Delhi University and experience at multinational firms, he is now leading Tesla's expansion into India, aiming to transform the electric vehicle market there.

Paresh Rawal's exit from Hera Pheri 3 has stirred controversy as he returned his signing amount of ₹11 lakhs plus 15% interest. With ₹15 crores locked for the film, Rawal was uneasy about a clause tying his payment to the film's release, expected in 2026 or 2027. His sudden departure shocked fans eagerly waiting for the franchise's return. Akshay Kumar, also a producer, has indicated possible legal consequences, citing incurred expenses. This unexpected turn raises questions about the future of a beloved series that has been cherished for over two decades.

India and Nepal recently conducted a joint patrol along their 1,700 km border in response to suspected terrorist activity. The Sashastra Seema Bal (SSB) from India and Nepal's Armed Police Force (APF) collaborated in a search operation in dense forests. SSB commandant Ganga Singh highlighted the strong cooperation between the two nations, with regular intelligence sharing to identify threats. Amid rising tensions with Pakistan, Nepal reiterated its commitment to combat terrorism, ensuring its territory isn't used for hostile activities. This partnership underscores the importance of regional security and collaboration against common threats.

Iranian director Jafar Panahi won the prestigious Palme d'Or at the Cannes Film Festival for his film "It Was Just an Accident," inspired by his prison experience. The film combines humor and anger, following five characters uncertain if they can identify their torturer. The festival faced a power outage, but the show went on. Other noteworthy awards included the Grand Prix for Joachim Trier's "Sentimental Value" and best actress for Nadia Melliti in "Little Sister." The event was marked by a majority-female jury, including Indian filmmaker Payal Kapadia.

Bagless vacuum cleaners are revolutionizing home cleaning in India, offering a hassle-free solution for allergy sufferers and busy households. Brands like Philips, Eureka Forbes, and Dyson provide powerful suction without the worry of messy dust bags. Their transparent dust bins make it easy to see when they need emptying, ensuring a hygienic clean. With features like HEPA filters, these vacuums trap fine dust and allergens, making them ideal for homes with pets. Lightweight and easy to maneuver, bagless vacuums simplify your cleaning routine, allowing you to achieve spotless floors in less time.

A tragic plane crash in San Diego claimed the lives of six people, including notable music executive Dave Shapiro. Known for his role in promoting alternative music, Shapiro co-founded Sound Talent Group, representing popular bands. The crash occurred in heavy fog, with issues related to runway lights and a malfunctioning weather alert system contributing to the accident. Although Shapiro and his colleagues perished, no one on the ground was seriously injured. The incident highlights the risks pilots face, especially in poor visibility conditions, and leaves a profound impact on the music community.

The Indian stock market faced turbulence last week, impacted by global bond market volatility and foreign fund outflows, leading to a decline in Nifty and Sensex. Despite this, the market showed resilience, with the Nifty 50 above key moving averages. Investors are now focused on upcoming domestic economic data, including GDP figures and corporate earnings, which could influence market trends. Additionally, several new IPOs are set to launch, adding excitement. The outlook remains cautiously optimistic as long-term FPI flows into India illustrate the country's growth potential amidst global uncertainties.

Delhi Capitals triumphed over Punjab Kings by 6 wickets in Jaipur, marking the end of their IPL 2025 journey in fifth place with 15 points. Meanwhile, Punjab Kings secured the second position with 17 points. As the tournament heats up, Gujarat Titans could claim the top spot if they defeat Chennai Super Kings. Key players are in the spotlight, with KL Rahul and Shreyas Iyer moving up in the orange cap race. Stay tuned for more IPL action and updates on your favorite teams and players!

Heavy rains and strong winds hit Delhi-NCR early Sunday, cooling down the intense heat but causing disruptions like flight delays and waterlogging. Areas such as Minto Road and Shastri Bhawan experienced flooding due to the downpour. The India Meteorological Department had issued a red alert, predicting thunderstorms and gusty winds of up to 100 km/h. While airlines like IndiGo and SpiceJet warned passengers of delays, improved weather later allowed normal operations to resume. Although a temporary relief from the heat was noted, temperatures are expected to rise again soon.

Nvidia is set to launch a new AI chipset for China, priced between $6,500 and $8,000, significantly cheaper than its previous H20 model. The new GPU, based on the Blackwell architecture, will enter mass production by June. Although the lower price reflects simpler manufacturing and weaker specifications, it aims to capture a share of China's lucrative market, where Nvidia's sales have dwindled due to U.S. export restrictions. This move highlights Nvidia's challenges in adapting to evolving trade policies while seeking to maintain its presence in a competitive Chinese tech landscape.

Congress MP Shashi Tharoor and his team arrived in the US to address the Pahalgam terrorist attack and India's Operation Sindoor. They paid tribute at the 9/11 memorial, emphasizing the shared experience of terrorism. Tharoor highlighted Pakistan's denial of its role in fostering terrorism and called for international solidarity against such threats. He discussed India's precise military response to terrorism, asserting the need for a firm stance against any form of terror. This visit aims to raise awareness about global terrorism and reaffirm India's commitment to fighting it alongside other nations.