Pioneer in short
RBI rate panel to meet today
The Reserve Bank of India's rate-setting panel begins a three-day meeting on Wednesday against a backdrop of a growth-oriented Union Budget, low inflation and renewed external clarity after the long-awaited India-US trade deal. The RBI has already cut the repo rate by 125 basis points since February last year, and most economists expect a pause, citing the absence of immediate growth or inflation concerns. The six-member Monetary Policy Committee, headed by Governor Sanjay Malhotra, will announce its decision on Friday. Bank of Baroda Chief Economist Madan Sabnavis said the rate-cutting cycle may be nearing its end, pointing to stable government borrowing and tight liquidity conditions that limit banks' ability to lower lending rates. He said the RBI may instead focus on liquidity measures, including open market operations, forex swaps and possibly a cut in the cash reserve ratio. ICRA Chief Economist Aditi Nayar said a pause would allow the RBI to assess upcoming inflation and GDP data before recalibrating its outlook. While benign inflation leaves room for further easing, Crisil's Dharmakirti Joshi said the central bank is likely to "keep powder dry" for future action.
JioStar threat looms over Pak T20 no show
The International Cricket Council has warned the Pakistan Cricket Board that it could face legal action from official T20 World Cup broadcasters JioStar if it boycotts its February 15 match against India, a PCB source said on Tuesday. Pakistan decided not to play the game in Colombo on government instructions but has yet to formally communicate its reasons to the ICC. According to PTI, the ICC may withhold Pakistan's annual revenue share-estimated at around $35 million-to compensate the broadcaster. A PCB source said chairman Mohsin Naqvi consulted legal experts before briefing Prime Minister Shehbaz Sharif but is now bracing for serious consequences. These could include financial penalties, possible lawsuits and little recourse through the ICC's Dispute Resolution Committee, which does not hear appeals against board decisions.
India returns to Venice Biennale
After a seven-year absence, the Indian Pavilion will return to the Venice Biennale when the 61st International Art Exhibition opens on May 9. India last participated in 2019. Titled Geographies of Distance: Remembering Home, the group exhibition reflects India's cultural depth at a moment of global visibility. The pavilion is presented by the Ministry of Culture in partnership with the Nita Mukesh Ambani Cultural Centre and the Serendipity Arts Foundation. Union Culture and Tourism Minister Gajendra Singh Shekhawat said India's return signals "cultural confidence", showcasing a nation rooted in civilisational memory while actively engaged with the world. Curated by author and curator Amin Jaffer, the exhibition explores how ideas of home evolve through distance, migration and change, shaped by memory, ritual and material culture.
