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Defending champions <keyword id="19906065" type="General" weightage="20" keywordseo="Chennai-Super-Kings" source="keywords" meta.keywordsubtype="org" meta.entityname="Chennai Super Kings" meta.hostid="261" meta.entityid="Chennai Super Kings">Chennai Super Kings</keyword> (CSK) will host the <keyword id="19920572" type="General" weightage="20" keywordseo="Lucknow-Super-Giants" source="keywords" meta.keywordsubtype="org" meta.entityname="Lucknow Super Giants" meta.hostid="261" meta.entityid="Lucknow Super Giants">Lucknow Super Giants</keyword> (LSG) in their reverse fixture of the <keyword id="19911541" type="General" weightage="20" keywordseo="IPL-2024" source="keywords">IPL 2024</keyword> on Tuesday. LSG are fifth with four wins in seven games while CSK are fourth with similar number wins. In their last encounter last week, LSG registered an eight-wicket win over the defending champions CSK. The two teams have met four times in the tournament so far of which one match was washed out. CSK v LSG head-to-head 4- Lucknow Super Giants: 2 Chennai Super Kings: 1 Abandoned: 1 CSK v LSG match time: The match starts at 7:30 PM IST (2:00 PM GMT) with the toss taking place half an hour before the match i.e., 7:00 PM (1:30 PM GMT) CSK v LSG match venue: MA Chidambaram Stadium, Chennai Live broadcast of CSK v LSG match on television in India: CSK v LSG match will be broadcast live via Star Sports Network. Live stream in India: The live streaming of CSK v LSG will be available on JioCinema. Squads: Chennai Super Kings: Ajinkya Rahane, Rachin Ravindra, Ruturaj Gaikwad(c), Ravindra Jadeja, Shivam Dube, Sameer Rizvi, Moeen Ali, MS Dhoni(w), Deepak Chahar, Tushar Deshpande, Mustafizur Rahman, Matheesha Pathirana, Shardul Thakur, Shaik Rasheed, Nishant Sindhu, Mitchell Santner, Daryl Mitchell, Aravelly Avanish, Maheesh Theekshana, RS Hangargekar, Simarjeet Singh, Mukesh Choudhary, Prashant Solanki, Ajay Jadav Mandal, Richard Gleeson Lucknow Super Giants: Quinton de Kock, KL Rahul(w/c), Nicholas Pooran, Marcus Stoinis, Deepak Hooda, Ayush Badoni, Krunal Pandya, Matt Henry, Ravi Bishnoi, Mohsin Khan, Yash Thakur, Arshin Kulkarni, Krishnappa Gowtham, Yudhvir Singh Charak, Manimaran Siddharth, Arshad Khan, Prerak Mankad, Amit Mishra, Kyle Mayers, Shamar Joseph, Ashton Turner, Naveen-ul-Haq, Devdutt Padikkal, Mayank Yadav SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

IPL 2024: CSK v LSG overall head-to-head; When and where to watch

<ul><li><keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>’s pause could be a prolonged one as the path of monetary policy remains fraught with risks. </li><li>Surprise rate hikes by the Bank of Australia and Bank of Canada in June, after a pause suggests central banks are not yet done with the hike cycle. </li><li>Market expects RBI to review its stance again in August, if monsoon is normal and risks to commodity prices abate. </li></ul>The road ahead for monetary policy continues to remain fraught with risks. As expected, the rate setting committee of the Reserve Bank of India held on to benchmark rates yet again at its June review, but there is no change in its stance. The Reserve Bank of India <keyword id="6375120" type="General" weightage="20" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> retained the <keyword id="43352" type="General" weightage="20" keywordseo="repo-rate" source="Orion">repo rate</keyword>, or the lending rate of the central bank, at 6.5%, but this is not a pivot. This is the second straight policy in which rate has been held showing that the rate hike cycle may have peaked for now. Markets were penciling in a rate cut towards the end of this year, as the inflation print in April came in at 4.7%. “Being in the inflation tolerance band is not enough. Our goal is to bring inflation to 4%,” <keyword id="64190" type="General" weightage="20" keywordseo="rbi-governor" source="Orion">RBI Governor</keyword> Shaktikanta Das said on Thursday. Fixed income experts and economists believe that all expectations of a rate cut are off the table for now, as risks to both growth and inflation remain elevated. Economists were unanimous in their expectations ahead of the policy statement on a pause. However, the surprise rate hikes announced by the Bank of Australia and Bank of Canada in June have spooked markets. Bank of Australia too has hiked rates in June to 4.1% this month while Bank of Canada benchmark hiked rates to 4.75% hours before RBI’s announcement. Economists are of the view that the RBI too is keeping the door open for further hikes, given that risks to inflation are not yet over. It is noteworthy that the pause in rate hike comes after the benchmark rate was hiked by 250 basis points since May 2022 and a breather was only taken in the April policy this year. Like many other developed economies, the central bank’s prolonged pause is now a certainty. Rate Cut Hopes Delayed Further Even though RBI has lowered its inflation projection for FY24 at 5.1% from the earlier estimates of 5.2%, the risks are still elevated. “We will keep Arjuna’s eye on inflation,” said Das. He added, “MPC will remain vigilant and will take further policy action as and when required to keep inflation expectations anchored and bring inflation down to 4%” Economists are interpreting this as a prolonged pause. Says Lakshmi Iyer, CEO-Investment &amp; Strategy, Kotak Investment Advisors, “Given global macro headwinds still visible, the members did not feel appropriate to change their stance. It looks like the market wait for rate cuts just got longer, as we saw Canada policy makers announce a surprise rate hike. Key incoming data dependency will continue to be the order of the day. Policy maker guard rails remain. Bonds may continue its sideways movement and continue to track global bond yields specifically US treasuries.” India may be in a sweet spot, but since global central banks are still hawkish and clearly not done with the hikes, RBI has chosen to retain the pause for now. Economists expect that the MPC will take a call in August 2023, the RBI will have enough data on El Nino and its potential impact on inflation before it decides on any rate cut. BY August, the Fed funds there will be clarity on the path of the US Fed’s fund rate too. If both these factors remain benign, then the <keyword id="3929464" type="General" weightage="20" keywordseo="rbi-mpc" source="Orion">RBI MPC</keyword> could look at changing its stance to “neutral” in August. Market participants are unanimous on the possibility of a prolonged pause. Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS, expects an extended pause on interest rates from the regulator in the near future. While the inflation is expected to hover above the tolerance limit in FY24, the RBI has marginally reduced its inflation forecast to 5.1% vs 5.2% in the previous policy. Growth And Inflation Are Evenly Balanced For Now India’s economy exited FY23 with GDP growth of 7.2%, which was better than estimates. This combined with retail inflation dipping to an 18-month low, both growth and inflation appear to be evenly balanced. While rural demand continues to be weak, the recent hikes in MSP and normal monsoon could come to the rescue. However, there still may be some spillover risks to inflation. Keeping the risks in mind, the RBI has kept its growth projection for the current financial year (FY24) unchanged at 6.5%. This comes at the backdrop of the World Bank revising India’s GDP forecast downwards by 30 bps earlier in the week. The Indian economy and financial sector stand out as strong and resilient, and domestic macroeconomic fundamentals are strengthening. Rural demand is on a revival path,” said Das adding, “GDP growth in 2022-23 turned out to be stronger than anticipated and is holding up well. Highlights financial stability concerns, impact of rate hikes.”

It’s a pause, not a pivot by RBI: Rate cut hopes pushed out for now

At the vast open-plan headquarters of Indian telecoms start-up <keyword id="2003276" type="UNKNOWN" weightage="100" keywordseo="Jio">Jio</keyword>, billionaire oil tycoon <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> stands in short sleeves beneath a digital tracker that logs every new subscriber to his service. 
 The 59-year-old is India's richest man, and his <keyword id="10926" type="CITY" weightage="100" keywordseo="Reliance">Reliance</keyword> Industries oil &amp; gas group is the country's most profitable. 
 
Now, though, he's betting at least $20 billion on building, from scratch, a national digital empire stretching from phones and hardware to home entertainment and custom-made apps. 
 
The ambitious Jio project could make Reliance the most comprehensive provider of telecom and internet services across India - and give it unprecedented access to the country's untapped 'big data': how millions eat, shop and have fun. 
 
"For Reliance... data is the new oil, and intelligent data is the new petrol," Ambani said in March, explaining his drive to move closer to India's consumers. 
 
Reliance has said little publicly about Jio, and even less about the potential for wide-scale data mining in a country where consumers have not, to date, made a big deal about online privacy. But top executives are clear on the opportunity. 
 
"It's called Deep Packet Inspection, and what you can do with the analytics of that is mind-boggling," said a senior Reliance executive, referring to a practice that digs into 'packets' of data created by computers for efficiency, mining them for information. 
 
Jio is unlikely to contribute significantly to Reliance profits anytime soon, but is hugely significant for its future. Reliance has dabbled previously in consumer sectors, yet Jio is seen as an opportunity for Ambani to set a new course for a company still dominated by his late father, its founder. 
 
Jio is also a potentially landmark opportunity for India, where smartphone usage has ballooned and services like mobile payments and online entertainment have become commonplace. 
 
The prospect of Jio, which has not yet been commercially launched, has raised hopes of cheaper, more reliable data for Indian users. It has already drawn queues at some stores by offering free connections with unlimited data for a three-month period, allowing it to test its network. 
 
That has stirred rivals. India's largest wireless provider Bharti Airtel this week cut its 3G/4G data tariffs on prepaid connections by more than 40 percent, after halving them a month ago. 
 
ALL ABOUT AMBITION 
 
But Jio - named from a Hindi exhortation to 'live on' - is behind schedule and over budget, say several former employees, who, like current staff interviewed by Reuters, did not want to be named. It was initially expected to launch by end-2014, with total capital expenditure within $15 billion, they said. 
 
Reliance has never provided a specific date or figure, and declined to respond to specific queries for this article. 
 
According to filings at the Commerce Ministry, Jio has more than 325 billion rupees ($4.9 billion) of long-term debt, and other liabilities topping 580 billion rupees, as of March. In addition, Reliance has spent over 290 billion rupees on Jio and is expected to invest more - all adding up to more than what it has been spending on its core refining and petrochemicals business. 
 
Reliance says its oil business is pumping out cash, and any investment in Jio has to be ambitious. 
 
Two-thirds of India's 1.3 billion population are not online, and Jio hopes to capture 100 million users - nearly half of India's current smartphone users - within a year of launch. 
 
Ambani, who employees say taught himself to code, ran Reliance's nascent telecoms operations in the early 2000s, before a feud with his younger brother Anil triggered a split and a bitter non-compete deal. Mukesh took the family's energy business and Anil the communications assets, setting up Reliance Communications (RCom). 
 
Before long though, Mukesh was laying fibre cables again and set up a subsidiary, Rancore, to build its own mobile telephony technology. 
 
In 2010, Mukesh's Reliance Industries bought Infotel Broadband - on the day Infotel won nationwide spectrum - and decided it needed to offer more than a high-speed 4G network service. Instead, it would pitch an all-internet service, where even voice calls would be carried as data, cheaply, beating its rivals Airtel, Vodafone and Idea on quality and speed, according to Jio officials. 
 
Airtel, Vodafone and Idea declined to comment on Jio. 
 
Naveen Kulkarni, co-head of research at Phillip Capital, said the Jio technology was "very efficient from a cost point of view," but needs India's smartphone ecosystem to evolve, making it unlikely Reliance will make money from Jio for at least five years. 
 
RELIANCE CITY 
 
At Jio's biggest campus, a sprawling cluster of glass buildings, manicured lawns and giant Jio logos outside Mumbai, the scale of Ambani's vision is evident. Reuters was offered a rare opportunity to visit the site earlier this year. 
 
The campus has 15,000 employees working for Jio alone, plus hundreds of consultants and service providers working alongside the group. There are large guest houses and hotels. 
 
In a single hall, Reliance has put on show everything from its e-payment mechanism and music-streaming app to its messaging app, sleek Jio smartphones - sold at a fraction of the cost of an iPhone - connected cars, and even a replica home. 
 
"As they go out, they will have a very aggressive posture," said Rajan Mathews, director general of the Cellular Operators Association of India. 
 
On campus, Ambani, who flies in by helicopter once a week, was flanked at his desk by his eldest son, Akash, who is Jio's head of strategy, and by Manoj Modi, a long-serving adviser, and a reminder of the influence of trusted employees, most from the oil business. 
 
One company insider said the Jio logo is actually a mirror image of the word 'oil,' reflecting in a way Reliance's journey from oil drilling to data mining. 
 
($1 = 67.0605 Indian rupees) 
 
<a href="http://stz.india.com/sites/default/files/2016/05/16/1599-reliance-jio-ians.JPG">Image source</a>

Reliance Jio: The $20 billion start-up from Mukesh Ambani's kitty

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IPL 2024: CSK v LSG overall head-to-head; When and where to watch

IANS

It’s a pause, not a pivot by RBI: Rate cut hopes pushed out for now

Malini Bhupta

Reliance Jio: The $20 billion start-up from Mukesh Ambani's kitty

BI India Bureau

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