News Wrap: Sheikh Hasina's Resignation, Neeraj Chopra's Olympic Silver, RBI Monetary Policy And More August 4 To 10

(MENAFN- Live Mint) Several Political and financial developments encompassed last week from August 4 to August 10 right from Bangladesh PM's resignation, Manish Sisodia granted bail, Vinesh Phogat's disqualification row. In addition to this, the week also featured the release of Q1 results from some companies. Notably, on Thursday, the Reserve bank of India (RBI) kept the policy repo rate unchanged at 6.5% for the ninth time in a row citing a slower-than-expected pace of disinflation, while reiterating its vigil over price rise

Fresh violence in Bangladesh: At least 43 people were killed and hundreds more were injured as fresh clashes rocked Bangladesh on Sunday. Police resorted to firing tear gas and rubber bullets to disperse the protesters as tens of thousands of called for Prime Minister Sheikh Hasina to resign.

Sheikh Hasina resigns, leaves from Bangladesh: Bangladesh Prime Minister Sheikh Hasina resigned on Monday and fled Dhaka after being in power for the past 15 years . In a broadcast to the nation on state television, Bangladesh's Army Chief General Waker-Uz-Zaman said that Hasina had resigned and he would talk to the President to form an interim government. However, as per the latest update, her son and adviser told Reuters that Hasina had not resigned as prime minister before fleeing this week to India.

Bata India Q1 Results: Bata India announced its April-June quarter results for fiscal 2024-25 (Q1FY25), reporting a rise of 63 per cent in standalone net profit at ₹174 crores, compared to ₹107 crores in the year-ago period, aided by a one-time gain from the sale of property.

PB Fintech Q1 results: PB Fintech , the parent company of PolicyBazaar, Paisabazaar and PB Partners, on 6 August, reported a third consecutive quarter of profits in quarter one of financial year 2025. The company recorded a net profit of ₹60 crore, turning in the green, from a loss of ₹ 12 crore in the same period last year. To be sure, PB Fintech had reported a net profit of ₹ 38 crore and ₹ 60 crore, respectively in Q3 and Q4 of FY24.

Kamala Harris' VP pick: Kamala Harris , the US Vice President, on Tuesday evening, declared Governor of Minnesota Tim Walz as her running mate in the upcoming US Presidential polls in Philadelphia, Pennsylvania.

Groww technical glitch: Users of the popular investment platform Groww are experiencing significant disruptions in service, with many reporting difficulties in placing orders and accessing their demat account balances. The widespread technical issue frustrated investors, particularly those attempting to execute time-sensitive trades.

Vinesh Phogat disqualified: In a surprising turn of events, Indian wrestler Vinesh Phogat was disqualified from the Paris Olympics for failing to meet the weight requirement for her 50 kg weight class. Phogat exceeded the permissible weight limit by just 100 grams.

Vinesh Phogat quits wrestling: Ace Indian grappler Vinesh Phogat bowed out of the wrestling arena a day after her heartbreaking disqualification from the Women's Freestyle 50kg event at the Paris Olympics 2024 on Wednesday. Taking to X, she wrote,“Ma kushti mere se jeet gayi, main har gayi.” In her social media post on X, the ace grappler said,“My courage is all broken.”

Wrestler Antim Panghal sent back home: The Indian Olympic Association (IOC) announced that wrestler Antim Panghal and her support team were sent back to India after the French authorities reported a disciplinary violation to the IOC.

RBI Monetary Policy: The RBI Governor-headed six-member Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 6.5% and maintain the policy stance of 'withdrawal of accommodation'. The MPC voted by a 4 to 2 majority to keep the policy rate unchanged. RBI retained real GDP growth estimates for FY25 at 7.2%, and CPI inflation projection at 4.5%.

LIC Q1 Results: LIC announced its Q1FY25 results, reporting a rise of nine per cent in consolidated net profit at ₹10,544 crore. India's largest insurer's total income increased to ₹2,10,910 crore during the latest June quarter compared to ₹1,88,749 crore in the year-ago period year-over-year.

India wins hockey bronze: The Indian men's hockey team secured their second consecutive Olympic bronze medal with a 2-1 victory over Spain in the third-place playoff. This marks the first time India won back-to-back medals in 52 years, with their previous consecutive wins in 1968 and 1972. This achievement also represents the 13th Olympic medal for the Indian hockey team.

Neeraj Chopra bags silver: Neeraj Chopra secured silver medal for India in the men's javelin throw at the Paris Olympics on August 7 with a best throw of 89.45 meters

Venezuela unrest: Venezuelan President Nicolas Maduro has signed a decree which blocks access to social media site X (formerly known as Twitter), in the violence-hit country for 10 days.“X get out of Venezuela for 10 days!” he said in a speech which was broadcast on state television.

Manish Sisodia granted bail: Senior Aam Aadmi Party leader Manish Sisodia received a major relief from the Supreme Court on Friday after he was released on bail in both ED and CBI cases linked to the Delhi excise policy scam. In its hearing, the bench said Sisodia was deprived of his right to speedy trial after he was kept in custody for 17 months without any trial.

Ola Electric bike: Bhavish Aggarwal's Ola Electric on August 9 announced that it will unveil its much-anticipated electric motorcycle on August 15 during the company's annual "Sankalp 2024" event, which will take place at the FutureFactory.

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