RBI Governor Sanjay Malhotra stated that the central bank is closely monitoring whether the supply shock from the West Asia conflict will lead to a generalised price rise, potentially necessitating monetary policy action.
Analysts predict that the ongoing US-Iran conflict, fluctuations in crude oil prices, and foreign institutional investor (FII) flows will be the primary factors influencing Dalal Street this week, with inflation concerns adding to investor anxiety.
Even if there is an early agreement on a cessation of hostilities in West Asia, the price shock will not go away easily, points out A K Bhattacharya.
Iran's representative in India, Abdul Majeed Hakeem Ilahi, describes the ongoing tensions between Iran and the US-Israel alliance as a state of 'no war, no peace,' calling for an immediate halt to the conflict and questioning the lack of pressure on the US and Israel to cease aggression.
The conflict may disrupt Budget 2026-2027 projections, squeezing revenues and raising subsidies, prompting fiscal adjustments and potential reforms, echoing lessons from the Covid-era shock, points out A K Bhattacharya.
The Wrestling Federation of India (WFI) barred an under-17 wrestler from the National Championships after her father presented two different birth certificates, highlighting concerns about document verification.
The popularity of US President Donald Trump is waning with approval ratings at its lowest, according to former diplomat Mahesh Sachdev, who notes that with two-thirds of Americans not approving of a continuation of the war on Iran, Trump faces the risk of being impeached.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
India's fiscal deficit is projected to reach 4.5 per cent of GDP for the current fiscal year, exceeding the budgeted target, as the government's policy responses to the West Asia conflict are expected to strain public finances, according to research firm BMI.
The Pakistan Cricket Board's policy regarding employees working with Pakistan Super League franchises is under scrutiny after Misbah ul Haq confirmed his role as a consultant with Peshawar Zalmi, despite being a national selector and batting consultant with the PCB.
External Affairs Minister S Jaishankar spoke with his Portuguese counterpart Paulo Rangel to discuss the West Asia conflict and explore ways to enhance bilateral cooperation.
Moody's Ratings has downgraded India's growth forecast for financial year 2026-27 (FY27) to 6 per cent from 6.8 per cent, attributing the revision to weaker consumption and industrial activity, elevated energy prices, and rising input costs stemming from the West Asia conflict.
A spokesperson for the Central Khatam al-Anbiya Headquarters said that Iran's armed forces are prepared to intensify their response if aggression continues.
Russian Foreign Minister Sergei Lavrov will visit Beijing to discuss the West Asia conflict, the Strait of Hormuz blockade, and bilateral relations with Chinese leaders.
China is mediating talks between Pakistan and Afghanistan to address their ongoing military conflict, following Pakistan's operation against terrorist hideouts in Afghanistan and UN reports questioning Pakistan's evidence of militant presence in Afghanistan.
The ongoing conflict in West Asia is severely disrupting Bikaner's food exports, causing delays, rising costs, and impacting the supply of popular snacks like bhujia and papad to Gulf and European markets.
The Ministry of External Affairs (MEA) reports that over 1,150 Indian nationals have been evacuated from Iran through land borders into Armenia and Azerbaijan since the start of the West Asia conflict. The MEA also confirmed that three Indians were injured in attacks in the UAE.
Prime Minister Narendra Modi spoke with Saudi Arabia's Crown Prince Mohammed bin Salman about the ongoing conflict in West Asia, emphasising the need to ensure freedom of navigation and secure shipping lanes.
External Affairs Minister S Jaishankar discussed the West Asia conflict's impact on the global economy, particularly energy security, with US Secretary of State Marco Rubio. He also engaged with GCC ambassadors and his Sri Lankan and German counterparts on the same issue.
Rajasthan's Leader of Opposition, Tika Ram Jully, has accused the state government of a 'double game' in the Adarsh Credit Cooperative Society scam, alleging a conflict of interest involving the Additional Advocate General.
Pakistan's Punjab government has announced the reopening of all public and private educational institutions after implementing fuel-saving measures due to the conflict in West Asia. The decision comes as fuel supply stabilises and the government secures national fuel stocks.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower following the collapse of US-Iran negotiations, which heightened concerns of a prolonged conflict in West Asia and drove crude oil prices sharply higher.
Pakistan's Prime Minister Shehbaz Sharif has engaged in extensive diplomatic efforts to de-escalate the conflict in West Asia, offering to host talks between the US and Iran and engaging with leaders from Saudi Arabia, Qatar, Malaysia, the UK, China, and the European Union.
A court in Thane, Maharashtra, acquitted a speech-impaired woman accused of killing her would-be daughter-in-law, citing inconsistencies in the victim's dying declarations and failure of the prosecution to prove the case beyond reasonable doubt.
Russia's First Deputy Prime Minister Denis Manturov met with Indian leaders to discuss strengthening bilateral ties in key sectors amidst the escalating conflict in West Asia.
HDFC Bank reported an 8.04 per cent increase in its March quarter consolidated net profit to Rs 20,350.76 crore, but highlighted potential near-term risks for small-business borrowers due to the West Asia conflict. The bank's CEO also addressed the recent resignation of its non-executive chairman and hinted at a potential top-level reorganisation.
The parents of Jerin George, a native of Haripad in Kerala, have appealed to authorities to help bring their son home after he became stranded on an Iranian ship due to the conflict in West Asia.
Prime Minister Narendra Modi will hold a video conference with chief ministers of most states to assess their preparedness and strategies in response to the ongoing conflict in West Asia.
Prime Minister Narendra Modi convened the Cabinet Committee on Security to address the impact of the West Asia conflict on Indian citizens, focusing on safeguarding them from the conflict's effects and ensuring the smooth flow of essential supplies.
Fleur Hassan-Nahoum, special envoy, foreign ministry of Israel, has asserted that the situation has effectively been a "multi-front regional conflict" since its inception, while claiming significant military and strategic gains against adversarial forces.
Prime Minister Narendra Modi addressed concerns about the impact of the West Asia conflict on India, assuring efforts to minimise its effects and prioritising the safety of Indian citizens working in the region. He also criticised the Congress party for making remarks that could endanger Indian lives for political gain.
An Indian national was killed in a missile attack on Riyadh, bringing the total number of Indian fatalities in the West Asia conflict to six. The Indian embassy in Riyadh has expressed condolences and is providing assistance to the family.
A new US intelligence report warns that India and Pakistan's relations remain at risk for nuclear conflict, fueled by terrorism and escalating tensions in the region.
Analysts warn that global markets are significantly underpricing the risk of an oil price shock, with Brent crude potentially soaring to $150 per barrel if the West Asia conflict escalates or damages critical oil and gas infrastructure. This could lead to severe inflation and economic repercussions, particularly for import-dependent nations like India.
The Ministry of External Affairs (MEA) has confirmed the deaths of eight Indian nationals and one missing person in West Asia due to the ongoing conflict. The Indian government is providing support to affected families and facilitating the return of citizens from the region.
Sri Lankan President Anura Kumara Dissanayake has announced an economic relief package to mitigate the impact of the West Asia conflict, including fuel price reductions and support from India for petrol and diesel supplies.
US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
The Indian government has implemented several measures to mitigate external risks, support the balance of payments, and maintain macroeconomic stability amidst the ongoing West Asia crisis, according to Minister of State for Finance Pankaj Chaudhary.
A new report suggests that prolonged conflict in the Middle East could significantly impact India's GDP growth and inflation.
The Confederation of Indian Industry (CII) has proposed a 20-point policy agenda to the finance ministry, including a conflict-linked emergency credit line guarantee scheme and tax rationalisation on energy inputs, to support MSMEs, exporters, and energy-intensive industries affected by the ongoing West Asia war.
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