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Adani Ports emerges top contender for Karanja Terminal takeover
Adani Ports is poised to acquire Karanja Terminal & Logistics, with creditors endorsing its ₹625-crore recovery plan. The nation's top port operator has offered full repayment to financial creditors for their outstanding dues. This development follows Prudent ARC's acquisition of nearly all of Karanja's debt, signaling a significant shift in the company's future.
MPC holds rate unchanged but stays vigilant for greater clarity to emerge as risks of higher inflation amplify: RBI
RBI noted in its MPC policy that there are considerable risks to the MPCs baseline assessment of inflation and growth due to the uncertainty about the duration and intensity of the conflict, magnitude of its spillover effects and the pace of restoration of supply chains. Additionally, the food outlook remains uncertain on account of the subnormal south-west monsoon forecast and El Ni. Although risks of higher inflation have amplified, the MPC felt it would be prudent to wait for greater clarity to emerge. Accordingly, the MPC voted to keep the policy rate unchanged. At the same time, the MPC will continue to remain data-dependent and closely monitor the developments, including supply side pressures getting embedded in the general price level and inflation expectations.