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Trump plans 10% credit card interest cap

US President Donald Trump has suggested a plan to cap credit card interest rates at 10 per cent for one year, starting January 20, 2026. He says this is aimed at protecting consumers from high borrowing costs, as many credit cards charge 20–30 per cent or more in interest. Trump believes the cap would help Americans struggling to repay debt.

The proposal has sparked discussion in other countries, including India, where credit card interest rates are even higher. In India, cardholders can face rates of 36–48 per cent per year on unpaid balances. Some borrowers feel a lower interest cap, like Trump’s 10 per cent idea, could make repaying debt easier.

However, experts warn that strict limits on interest rates can also create problems. Banks and credit card companies might reduce lending to people with higher credit risks. They could also cut card benefits, like rewards or cashback, to make up for lost income. Some borrowers may turn to other options such as payday loans or buy-now-pay-later services, which can be costly.

The plan would need approval from the US Congress to become law. Similar attempts in the past have faced opposition from banks and financial groups. While the idea is intended to help consumers, economists say it could affect how easy it is to get credit.

In India, there is currently no official cap on credit card interest rates. A Supreme Court decision in 2024 allowed banks to charge more than 30 per cent per year, overturning an earlier limit. Experts say that while Trump’s plan may not directly affect India, it highlights a worldwide concern about the burden of high-interest debt on consumers.

Also Read: Rupee slips 5 Paise to 90.22 against US dollar

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Rupee slips 5 Paise to 90.22 against US dollar

The Indian rupee slipped by 5 paise to close at 90.22 against the US dollar on Tuesday, continuing its weak trend as global and domestic factors weighed on the currency. A stronger US dollar, firm crude oil prices and sustained selling by foreign investors kept the local unit under pressure.

The rupee opened on a cautious note in early trade and failed to recover during the session. Currency dealers said demand for the dollar remained high, while the supply of foreign funds stayed limited. The US dollar index moved higher, reflecting renewed strength in the American currency against major global peers.

Rising crude oil prices added to the rupee’s challenges. As India depends heavily on imported oil, higher prices increase the country’s import bill and push up dollar demand. This trend often weakens the rupee and raises concerns about inflation and the current account balance.

Another key factor impacting the rupee was continued foreign portfolio investor (FPI) outflows. Overseas investors have been trimming their exposure to Indian equities, leading to capital outflows and increased demand for dollars. Traders said this selling pressure has limited any meaningful recovery in the currency.

Market sentiment was also cautious ahead of global economic developments, particularly signals on US monetary policy. Expectations that interest rates in the US may remain elevated have strengthened the dollar and reduced risk appetite for emerging market assets.

However, the rupee’s losses were partly capped by suspected intervention from the Reserve Bank of India, which is believed to be active in smoothing sharp currency movements. Analysts said the central bank’s presence has helped prevent excessive volatility in the foreign exchange market.

Looking ahead, the rupee is expected to remain sensitive to global cues, oil price movements and foreign investment trends. Any improvement in risk sentiment or moderation in crude prices could provide some support to the currency in the near term.

Also Read: Germany eases air transit rules for Indians

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Germany eases air transit rules for Indians

Germany has removed the requirement for Indian passport holders to obtain an airport transit visa when travelling through its major international airports. The move will allow Indian travellers to transit smoothly through German airports while flying to a third country, provided they remain within the international transit area and do not enter German territory.

The decision was announced during high-level discussions between India and Germany and is being seen as a step to strengthen people-to-people ties and improve mobility between the two countries. Until now, Indian nationals needed a separate airport transit visa, also known as a Schengen Type A visa, even if they were only changing flights at German airports such as Frankfurt or Munich. This often involved additional paperwork, costs, and processing time.

With the new rule, Indian travellers holding valid passports and onward tickets can transit through major German airports without applying for this visa. The change is expected to benefit passengers travelling to destinations in North America, Latin America, and other parts of Europe, for whom Germany is a key aviation hub.

However, the visa waiver applies strictly to airside transit. Indian travellers will still not be allowed to exit the airport or pass through immigration without a valid Schengen visa. Those planning to enter Germany for tourism, business, study, or work will continue to require the appropriate visa as per existing rules.

Indian authorities have welcomed the decision, calling it a positive development that will make international travel more convenient for Indian citizens. The move is also expected to boost the attractiveness of German airports as transit hubs for Indian passengers, potentially increasing air traffic and connectivity between India and Europe.

Aviation and travel industry experts say the change will save time and reduce uncertainty for travellers, especially those with short layovers. It may also encourage airlines to offer more India-Europe and India-US connections via Germany.

The new transit policy is effective immediately. Travellers are advised to check with airlines and airport authorities to ensure they meet all transit conditions, including valid travel documents and confirmed onward tickets, before planning their journey.

Also Read: Smartphone security rules under review in India

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Gold at ₹1,42,160, Silver up ₹100 per kg

Gold and silver prices recorded a mild rise in the domestic market on Tuesday, reflecting steady demand for precious metals. According to market data, the price of 24-carat gold increased by ₹10 per ten grams and was trading at ₹1,42,160. The marginal uptick indicates continued interest in gold from investors seeking stability in uncertain economic conditions.

Gold prices remained largely uniform across major Indian cities. In Mumbai and Kolkata, 24-carat gold was priced at ₹1,42,160 per ten grams. Delhi saw slightly higher rates at ₹1,42,310, while Chennai quoted the highest among metros at ₹1,43,140 per ten grams. The price of 22-carat gold also rose by ₹10, with ten grams trading at ₹1,30,310 in most key markets, while Chennai again reported marginally higher prices.

Silver prices also moved higher during early trade. The metal gained ₹100 per kilogram and was trading at ₹2,70,100 per kg in Delhi, Mumbai, and Kolkata. Chennai continued to quote a premium for silver, with prices reaching ₹2,87,100 per kg, reflecting regional differences in demand and local market factors.

The rise in domestic bullion prices comes amid mixed cues from the global market. International gold prices have eased slightly after touching record highs in recent sessions, as investors booked profits. Despite the short-term correction, gold continues to trade at elevated levels, supported by geopolitical tensions, economic uncertainty, and expectations around future interest rate movements. Silver, too, has remained volatile but firm, backed by both investment demand and industrial usage.

Market experts say persistent global uncertainties, including inflation worries and currency fluctuations, are pushing investors towards precious metals. Gold and silver are traditionally seen as safe-haven assets, helping protect wealth during periods of market volatility and economic stress.

Looking ahead, bullion prices in India are expected to remain sensitive to international trends, movements in the rupee against the dollar, and policy signals from major central banks. Traders and investors are likely to closely track global developments, as these factors will play a crucial role in shaping the near-term direction of gold and silver prices in the domestic market.

Also Read: Sensex volatile as Nifty hovers near 25,800

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US stock futures dip ahead of inflation data

US stock futures were slightly lower in early trading as investors turned cautious ahead of key economic data and corporate earnings expected this week.

Market attention is focused on the December Consumer Price Index (CPI), an important inflation report that can influence future interest rate decisions by the Federal Reserve. If inflation remains sticky, interest rates could stay higher for longer.

The fourth-quarter earnings season is also set to begin, led by major banks including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup. Their results will offer clues on how companies managed higher interest rates and ongoing economic uncertainty.

Ahead of these events, futures linked to the Dow Jones, S&P 500 and Nasdaq were trading marginally lower, showing a cautious mood rather than sharp selling.

Markets have been volatile in recent weeks as investors scale back expectations of early interest rate cuts, following strong economic data. For now, traders are adopting a wait-and-watch approach, looking for clearer signals from inflation numbers and earnings updates.

Also Read: Adani plans ₹1.5 lakh cr investment in Kutch

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Gold jumps ₹2,000, silver soars ₹10,000 to record highs

Gold and silver prices surged to fresh all-time highs on Monday, reflecting strong investor preference for safe-haven assets amid rising global uncertainty. On the Multi Commodity Exchange (MCX), gold futures climbed by around ₹2,000 per 10 grams, while silver prices jumped sharply by nearly ₹10,000 per kilogram, marking one of the strongest single-session rallies in recent months.

The sharp rise in precious metal prices comes against a backdrop of heightened geopolitical tensions and economic concerns across major global markets. Ongoing instability in parts of the Middle East, coupled with fears of an escalation in conflicts, has pushed investors towards assets traditionally seen as stores of value during uncertain times. Gold and silver typically benefit in such conditions, as they are viewed as protection against market volatility and currency risks.

Another key factor driving the rally is growing optimism around potential interest rate cuts by major central banks, particularly the US Federal Reserve. Expectations that borrowing costs could ease later this year have weakened the US dollar and reduced bond yields, making non-interest-bearing assets like gold and silver more attractive to investors. Market participants are closely watching upcoming economic data and policy signals for further clarity on the rate trajectory.

Internationally, gold prices have crossed important psychological levels, while silver has gained from both investment demand and its extensive use in industrial applications such as electronics, solar panels and electric vehicles. This dual demand has amplified silver’s price movement, leading to sharper gains compared to gold.

In the domestic market, bullion prices closely tracked global trends. Physical gold rates in major Indian cities also moved higher, with jewellers and traders reporting increased volatility. While higher prices have dampened immediate retail demand, investment interest remains firm, particularly ahead of key global economic events.

Market experts caution that while the broader outlook for precious metals remains positive, price swings could continue in the near term. Factors such as geopolitical developments, central bank commentary and movements in global currencies are expected to play a decisive role in shaping the next phase of the rally.

For now, gold and silver remain firmly in focus as investors seek stability and protection in an increasingly uncertain global economic environment.

Also Read: Sensex tumbles 400 points, Nifty drops below 25,600

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SEBI eases tech glitch rules for brokers

The Securities and Exchange Board of India (SEBI) has revised its framework for dealing with technical glitches at stock brokerage firms, giving major relief to small brokers. Under the new rules, the technical glitch framework will now apply only to brokers who have more than 10,000 registered clients. This change effectively removes nearly 60 per cent of brokers from strict reporting and penalty requirements related to technology failures.

SEBI said the move is aimed at reducing the compliance burden on smaller market intermediaries while ensuring that systemically important brokers continue to maintain strong technology safeguards. Smaller brokers had raised concerns that the earlier rules treated all firms alike, regardless of size, scale, or technological capacity.

As per the revised framework, not all technology-related issues will be treated as “technical glitches.” Problems that do not impact actual trading, such as back-office disruptions, issues caused by third-party vendors, or minor interface errors, will no longer attract regulatory action. SEBI clarified that only glitches affecting order placement, execution, or critical trading systems will come under the framework.

The regulator has also relaxed reporting timelines. Brokers will now get up to two hours to report a technical glitch, compared with the earlier one-hour limit. Reporting will also become simpler, with brokers required to use a common reporting platform instead of multiple exchange-specific systems. Brokers must inform stock exchanges as well as their clients within the stipulated time if a serious disruption occurs.

In addition, SEBI has rationalised several technology-related requirements, including capacity planning and disaster recovery drills. These obligations will now be proportionate to the size and client base of the brokerage. Financial penalties for glitches will also be assessed after considering exemptions and the nature of the disruption.

Market participants have welcomed the move, saying it strikes a better balance between market stability and ease of doing business. The revised framework comes into effect immediately and reflects SEBI’s effort to adopt a more practical and risk-based regulatory approach.

Also Read: Google founders Brin and Page cut ties with Silicon Valley

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US lets India buy Venezuelan oil

The United States has signaled that India can resume buying crude oil from Venezuela, a source that was largely blocked due to US sanctions. US officials said Indian companies may import Venezuelan oil, but all sales and payments will be controlled and monitored by Washington. The detailed rules and approvals are still being finalized.

India was a regular buyer of Venezuelan crude before sanctions halted trade. With Indian refiners reducing Russian oil imports due to US pressure, Venezuelan oil offers a politically acceptable alternative. Reliance Industries, India’s largest refining company, said it would consider importing Venezuelan oil again once US regulatory approval is clear. Other refiners, including Indian Oil Corporation and Hindustan Petroleum, have also expressed interest.

Earlier, Reliance received permits to import about 63,000 barrels per day of Venezuelan oil in early 2025. Imports stopped in May 2025 after tighter sanctions. Venezuelan crude is heavy and requires special processing, so Indian refiners are expected to start gradually once approvals are in place.

Experts say resuming Venezuelan oil imports could help India reduce dependence on Russian crude while staying within US rules. However, all shipments will remain under Washington’s oversight, meaning India cannot freely trade or sell the oil.

The move reflects a significant shift in US policy. By allowing India to buy Venezuelan oil under strict control, Washington maintains strategic oversight while opening an old trade route. For India, this could ease supply challenges, give refiners access to discounted heavy crude, and reduce reliance on other countries.

While promising, the process will take time. Indian refiners will wait for clear regulatory guidance and permits. The actual volumes and timeline for imports will depend on US approvals and Venezuela’s ability to supply the crude under international scrutiny.

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Trump orders $200bn mortgage bonds to cut rates

US President Donald Trump has announced a plan for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage‑backed securities (MBS) to help lower mortgage rates and make housing more affordable. The announcement was made on his social media platform, Truth Social.

The plan aims to reduce monthly mortgage payments for homebuyers by increasing demand for mortgage bonds, which could push interest rates slightly lower. Trump said the government‑sponsored agencies have enough funds to carry out the purchases without using extra federal money. The Federal Housing Finance Agency (FHFA) confirmed that Fannie Mae and Freddie Mac will implement the plan, though details on timing and methods were not shared.

This move comes amid ongoing concerns about housing affordability. Mortgage rates, while slightly lower than last year, remain high, with the average 30‑year rate around 6.2%. Rising rates and a limited housing supply have made buying a home more difficult for many Americans.

Analysts have given mixed reactions. Some believe the plan could lower mortgage rates slightly, but others say $200 billion is a small part of the $11 trillion U.S. mortgage bond market and may have limited effect on overall housing costs. Questions have also been raised about the accuracy of Trump’s claims regarding the GSEs’ cash reserves.

The announcement follows other housing-related measures from the Trump administration, including proposals to limit institutional investors from buying single-family homes. Officials say this initiative is designed to help middle-class Americans afford homes and provide relief to the housing market ahead of economic challenges.

Also Read: RVNL wins Rs 201 cr East Coast railway project

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US withdraws from 66 global bodies under Trump

The United States has announced its withdrawal from 66 international organisations, including several United Nations bodies and the India- and France-backed International Solar Alliance (ISA), marking a major shift in its approach to global cooperation. The decision follows a presidential directive issued by US President Donald Trump, citing the need to protect national interests, sovereignty and taxpayer money.

According to official statements, the list includes 31 UN-linked organisations and 35 non-UN bodies. These cover a wide range of areas such as climate change, renewable energy, social development, labour standards, peacebuilding and scientific cooperation. Among the prominent exits are climate-related platforms like the UN Framework Convention on Climate Change and the Intergovernmental Panel on Climate Change, along with the International Solar Alliance, which focuses on promoting solar energy in tropical countries.

The US administration has argued that many of these organisations are inefficient, overlap in their work, or promote policies that do not align with American priorities. Federal agencies have been instructed to end participation and funding in these bodies, subject to legal procedures, and to reassess international commitments going forward.

Supporters of the move say it allows the US to focus resources at home and avoid obligations they believe offer limited returns. However, the decision has triggered concern among diplomats, climate experts and global institutions. Critics warn that stepping away from multilateral platforms could weaken international efforts on climate action, public health, labour rights and conflict resolution.

There are also geopolitical implications. Analysts note that the US withdrawal may leave a leadership gap in several global forums, potentially allowing countries such as China to expand their influence by increasing funding and engagement. This concern has been highlighted particularly in the context of UN agencies and climate-related institutions.

India-led initiatives, including the International Solar Alliance, are expected to continue their work despite the US exit, but experts say reduced American participation could slow progress and funding momentum.

The move continues a broader trend seen under the Trump administration, which has previously questioned or withdrawn from major international agreements. As the withdrawals take effect, global partners are assessing how the absence of the US will impact international cooperation and whether existing institutions can adapt to a changing geopolitical landscape.

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