Saturday, December 6, 2025 | Vol. 69 No. 53 | 37 Pages Reg.No MCS/048/2021-23; RNI No. 1541/1957 M.p.c.s office Mumbai. PIN 400001 THE FREE PRESS JOURNAL Dr. Babasaheb Ambedkar’s Death Anniversary INDIA EDITION | www.freepressjournal.in ● Leader in E-paper circulation GAMES CITY ED attaches assets worth `1,120 cr linked to Anil Ambani; total seizures hit `10,117 cr Palazhi Ashok Kumar In a decisive and confidenceladen move that aligns squarely with PM Narendra Modi’s “development-first” economic doctrine, the RBI on Friday delivered a 25-basispoint policy rate cut—its fourth since February—despite a weakening rupee, global trade turbulence and nagging export softness. The reduction, which brings the repo rate down from 5.50% to 5.25%, startled sections of the financial markets but underscored the central bank’s conviction that India’s macroeconomic base is strong enough to support a fresh burst of growth momentum. The Monetary Policy Committee voted unanimously for the cut, a rare display of cohesion in a period marked by global volatility. Governor Sanjay Malhotra called it a “considered and calibrated decision” shaped by evolving domestic fundamentals, a rapidly strengthening growth profile, and a sharply softening inflation outlook. The policy stance remains neutral, with the Standing Deposit Facility now at 5% and the Marginal Standing Facility and Bank Rate at 5.50%. The decision—taken against the backdrop of a sliding rupee Modi, Putin eye $100bn bilateral trade by 2030 HIGHLIGHTS ■ Repo rate cut by 25 bps to 5.25% Iron curtain over oil and defence ■ FY26 GDP growth raised to 7.3% ■ FY26 inflation slashed to 2% ■ Rupee under pressure; export remains weak Ashwin Ahmad NEW DELHI ■ RBI to buy `1 lakh crore of G-Secs ■ $5 bn 3-yr buy-sell swap to boost liquidity ■ Banks’ asset quality, profitability stay robust Ashwin Ahmad NEW DELHI ■ Forex reserves at $686.2 bn Economic cooperation was the highlight of Russian President Vladimir Putin’s visit to India for the annual India-Russia summit meeting. Putin, who arrived in New Delhi on Thursday night for the annual summit leaders meeting between India and Russia, met with his counterpart, Prime Minister Modi on Friday morning for talks. The two sides focused on the special economic cooperation programme to reach $100 billion in bilateral trade by 2030. The other area of focus was on working towards an FTA between India and the  Eurasian Economic Union and choppy external sentiment—echoes the Centre’s broader policy philosophy: sustain high-quality growth, expand domestic capacity, and steer India toward its goal of becoming the world’s third-largest economy. Stronger corporate balance sheets, bigger investment pipelines, rising tax buoyancy from GST reforms, and improving financial-sector resilience have emboldened policymakers to reinforce growth even amid external risks. 4Contd on | nation 4See also | money Russia and India are conducting independent and self-sufficient foreign policy with like-minded countries in BRICS, SCO and other countries of the global majority We support every effort towards peace. India is not neutral; India is on the side of peace. India–Russia relations should grow and touch new heights President Vladimir Putin PM Narendra Modi (EAEU). Along with this, several agreements were signed by the two sides in various fields, such as migration and mobility, fertilizers, health and food safety, and maritime cooperation, amongst other areas.  After the talks, both leaders held a joint press conference on the outcomes reached. Chaos as IndiGo ops collapse VHP to be Dhairya Gajara and Gaurav Vivek Bhatnagar Scene at Bengaluru airport MUMBAI / NEW DELHI India’s civil aviation system plunged into a fourth straight day of turmoil on Friday as IndiGo, the country’s largest airline, cancelled about 1,000 flights, nearly half its network, sparking scenes of extraordinary chaos at major airports. Stranded passengers slept on terminal floors, queues snaked across concourses, and airfares on rival carriers shot to astronomical highs. As public anger mounted, the Civil Aviation Ministry put the newly implemented Flight Duty Time Limitations (FDTL) rules on CALCUTTA HC ALLOWS ‘BABRI’ CEREMONY PTI KOLKATA 4Contd on | nation allocated 4-acre plot in Sion Ravikiran Deshmukh MUMBAI Joshi-Phalke and Justice Nandesh Deshpande, on Tuesday, dismissed an application filed by a man seeking to quash an FIR and the ensuing criminal proceedings. The case was filed by a married woman who alleged that she had met the applicant two years before her 2019 marriage. He had proposed to her, but she refused. The Mahayuti government has approved a proposal to allocate an approximately 4-acre plot in Sion to the VHP. The land, owned by the BMC, has been allotted to the VHP with the state’s approval. The proposal to allocate the plot—located on Survey No. 12 (part) in the F North Ward of the BMC—was moved under Section 92 (DD) of the BMC Act, 1888. Significantly, the 7,558.33 sqm plot has been granted on an occupancy basis, rather than on lease. Under this provision, the allottee is treated almost as the owner of the land, with full rights of utilisation. The BMC’s proposal was submitted to the Urban Development Department (UDD), headed by Deputy CM Eknath Shinde, in October this year, seeking approval for the allocation. The UDD, while approving on December 4, clarified that the occupancy possession will formally begin on June 25, 2025—the date on which the civic body granted its approval—for a period of 30 years. 4Contd on | nation 4Contd on | nation DGCA goes soft on IndiGo, rolls back FDTL, passengers bear the brunt hold. The pilots’ unions criticised the move, saying it compromises safety, violates a Delhi HC order mandating stricter fatigue limits, and puts commercial interests above passenger protection. 4Contd on | city 4See also | city, nation, edit OBJECTIONABLE POSTS AGAINST WOMEN HC SAYS CAN ATTRACT CHARGES OF ASSAULT Urvi Mahajani The Calcutta High Court on Friday declined to interfere with a program organised by suspended Trinamool Congress (TMC) MLA Humayun Kabir regarding the proposed foundation of a Babri Masjid in Murshidabad on December 6, the anniversary of the 1992 Babri Masjid demolition in Uttar Pradesh. MUMBAI The Nagpur bench of the Bombay High Court has held that posting objectionable content about a woman on social media to defame or harass her can attract serious charges of assault or criminal force to outrage modesty and stalking under the provisions of the Indian Penal Code. A bench of Justice Urmila Netflix to acquire Warner Bros FPJ News Service MUMBAI Netflix has reached a landmark agreement to acquire Warner Bros.’ studio and streaming businesses for USD 72 billion, marking one of the biggest shake-ups in Hollywood history. The deal, announced on Friday, will see Netflix take control of the iconic film and television studios behind Harry Potter, Game of Thrones, Casablanca, Friends and the DC Universe, along with HBO and HBO Max. The Edit Why should the new Bombay HC have a colonial hangover? IN THE WORKS | India and Russia striving for an early Free Trade Agreement with Eurasian Economic Union (EAEU) WITH RATE CUT, RBI SIGNALS PUSH FOR MODINOMICS MUMBAI Cinema Shah Rukh Khan, Kajol’s DDLJ statue unveiled in London India hope for a RohitKohli encore again in deciding ODI in Vizag against SA companies said the total enterprise value of the transaction, including debt, is approximately USD 82.7 billion. The acquisition will only close after Warner Bros. Discovery completes a planned separation of its Global Networks division, Discovery Global, into a new publicly traded company, expected in Q3 2026. Discovery Global will include major cable and news brands such as CNN, TNT Sports, and Discovery channels across Europe. According to the agreement, each Warner Bros. Discovery (WBD) shareholder will receive USD 23.25 in cash and USD 4.501 in Netflix shares for each outstanding WBD share. The stock portion includes a price collar based on Netflix’s trading value before closing. Netflix co-CEO Ted Sarandos described the deal as a rare opportunity to define the future of global entertainment. “Our mission has always been to entertain the world,” Sarandos said. “By combining Warner Bros.’ incredible library of shows and movies from timeless classics like Casablanca and Citizen Kane to modern favourites like Harry Potter and Friends with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better.” 4Contd on | nation Speaking first, Prime Minister Modi stated that the  two leaders had  discussed all aspects of cooperation to strengthen this relationship. “Taking economic cooperation to new heights is our shared priority.  4Contd on | nation 4See also | nation The Modi-Putin meeting was significant in what was not mentioned. In their respective speeches, after which they took no questions, the two leaders did not mention the key areas of defence, and whether Russian oil, which currently makes up 34% of India’s total oil imports, would continue to be imported to India. Foreign Secretary Vikram Misri made the nature of the visit clear when he stated that “economic cooperation is the driving impulse and the most important focus of this particular visit.” He stated that post the talks, “both leaders took part in the India-Russia trade forum held in Bharat Mandapam just a short while ago with the presence of key stakeholders of the business community both from India and Russia.” 4Contd on | nation SC deadline to name Kerala VCs FPJ News Service NEW DELHI The Supreme Court on Friday said that it would appoint the Vice Chancellors of two Kerala universities if the State Government and the Governor fail to reach a consensus. A bench of Justice JB Pardiwala and Justice PB Varale, hearing the matter related to appointments at APJ Abdul Kalam Technological University and the University of Digital Sciences Innovation and Technology, made it clear that it would step in if the ongoing stalemate is not By Tuesday, if you all can work it out, well and good. Otherwise, we will appoint. Justice JB Pardiwala resolved. As soon as the matter was taken up, Justice Pardiwala said the case would be heard on Monday, adding, 4Contd on | nation