Top stories on October 5 in a capsule
India and Russia sign over $5 billion deal for S-400 Air defense missiles India and Russia on Friday sealed a deal of $5.43 billion to purchase S-400 missiles which are expected to be delivered by 2022. The signing agreement happened in Hyderabad after the bilateral talks between PM Narendra Modi and Russian President Vladimir Putin where they discussed several global and key regional issues which include the US sanctions on Iran oil imports. On Thursday morning Putin arrived in India for a two-day visit to attend the 19th India-Russia bilateral summit. Since August, US has imposed Countering America’s Adversaries through Sanctions Act (CAATSA) and the countries engaged in trade can face similar sanctions but India is exempted from it. _______________ RBI maintains repo rate unchanged at 6.50% The Monetary policy committee of RBI kept the repo rate unchanged at 6.50% as per the bi-monthly monetary policy conducted on October 5. The Repo rate was hiked twice in this year, th...