Latest News Today, May 28: Here is a sneak peak at national-international affairs as well as happenings in the field of business, finance, economy and sports that kept you abreast of relevant news. The day was loaded with newsmakers with headlines on: Clashes between militants and security forces in Manipur, PwC report on UPI, Protesting wrestlers detained, GSLV rocket launch, Mild earthquake in parts of India, PM Modi inaugurates new Parliament building, Data to drive equity markets, and IPL 2023 Final CSK vs GT. Stay tuned with FE.Com that will keep you one notch ahead of others with the influx of breaking and tending news.
IPL 2023 Final CSK vs GT: Match delayed
The rain-hit IPL 2023 grand finale between Chennai Super Kings and Gujarat Titans has been called off! yes, you are reading it correct. After multiple cutoffs and several twists and turns, the final picture is this – the IPL officials have activated the reserved day clause and the IPL final match will now be played on Monday – May 29, 2023. Read More
US Debt Ceiling Update: Will the crisis get resolved by June 5?
After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have announced an “ agreement in principle ” to raise the nation’s debt ceiling and avoid a potentially catastrophic default. The agreement includes spending cuts demanded by Republicans, but it is short of the reductions in the sweeping legislation passed by the Republican-led House last month.To reduce spending, as Republicans had insisted, the package includes a two-year budget deal that would hold spending flat for 2024 and impose limits for 2025. That’s in exchange for raising the debt limit for two years, until after the next election.It also expands some work requirements for food-stamp recipients and tweaks an environmental law to try to streamline reviews to build new energy projects. Read More
Renewed clashes between militants and security forces in Manipur
Clashes have broken out between armed groups and security forces at over half a dozen places across Manipur on Sunday, officials said.The latest clashes began after army commenced coming operations to de-arm communities in order to bring peace.Chief Minister N Biren Singh claimed to newspersons on Sunday that the latest round of clashes were not between rival communities but between Kuki militants and Security forces.The house of BJP MLA Khwairakpam Raghumani Singh at Uripok in Imphal West was vandalised and his two vehicles have been set on fire, a top security official told PTI. PTI
UPI to account for 90% of retail digital payments
Growing at a steady pace, UPI transactions are likely to reach 1 billion per day by 2026-27, accounting for 90 per cent of the retail digital payments in the country, said a PwC India report.
Unified Payments Interface (UPI), which is driving the digital payments revolution, accounted for about 75 per cent of the total transaction volume in the retail segment during 2022-23, said the PwC report titled “The Indian Payments Handbook – 2022-27”. Read More
Delhi Police detains protesting wrestlers
Wrestlers Vinesh Phogat, Sakshi Malik and Bajrang Punia were among several persons detained by the Delhi Police as they attempted to march to Parliament where the new House was inaugurated. According to Delhi Police, the protesters had been informed that they would not be allowed to take out the protest march but they went ahead with it anyway.
“They broke the barricades and didn’t follow the directions given by the police. They broke the law, hence they were detained,” Dependra Pathak, Special CP (Law & Order), Delhi Police said on the detention of protesting wrestlers. Read More
ISRO begins countdown for launch of navigation satellite
Scientists at the Indian Space Research Organisation (ISRO) on Sunday commenced the 27.5 hour countdown for the launch of a navigation satellite on board a GSLV rocket here on May 29.
The Bengaluru-headquartered space agency has drawn up plans to launch a second generation navigation satellite series which would ensure continuity of NavIC (Navigation with Indian Constellation) services.
The satellite would provide real-time positioning and timing services over India and a region approximately 1,500 km around the mainland.
Mild earthquake tremors felt in Delhi
Mild earthquake tremors were felt in Delhi on Sunday. According to initial reports, earthquake tremors were felt in several parts of Punjab, Haryana and Jammu and Kashmir too. Read More
PM Modi inaugurates new Parliament building
Prime Minister Narendra Modi inaugurated the new Parliament building here on Sunday morning and installed the historic Sengol in the Lok Sabha chamber. Dressed in traditional attire, Modi walked into Parliament premises from its Gate No. 1 and was welcomed by Lok Sabha Speaker Om Birla.
Amid Vedic chants by priests from Karnataka’s Shringeri Math, the Prime Minister performed “Ganapati Homam” to invoke Gods to bless the inauguration of the new Parliament building. The Prime Minister prostrated before the Sengol and sought blessings from high priests of various adheenams in Tamil Nadu. Read More
Data to drive equity markets
Stock markets would be largely driven by macroeconomic data, auto sales numbers, FII inflows and global trends this week, analysts said.
The US debt ceiling negotiations and institutional flows will also be watched by investors. PMI data for the manufacturing sector is scheduled to come on Thursday. Read More