Indian Central Bank Drains $10 Billion to Lift Short-Term Rates
India's central bank drained 849.75 billion rupees ($10 billion) of excess cash from the banking system in its first such operation in seven months, aiming to lift overnight borrowing costs.
The Reserve Bank of India withdrew funds via a 7-day variable rate reverse repo auction at a 5.49% cutoff yield on Friday, it said in a statement. The RBI had planned to soak up one trillion rupees.
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Venus Transit in Taurus 2025: 7 Signs Set for Romantic Surprises! Is It You?
Venus in Taurus transit in June is bringing big shifts for everyone! But its effects may differ for each individual depending on their zodiac sign. Curious about yours? Continue reading to find out! In Vedic astrology, Venus symbolizes love, beauty, luxury, and harmony. Its transit into Taurus on 29th June 2025, influences each zodiac sign uniquely in love, relationships, career, and money. Let's find out what the transit of Venus in Taurus 2025 predictions and remedies are for each sign. Venus in Taurus Transit Date and Time Date: 29th June 2025 (Sunday) Time: 02:17 PM (IST) Are you looking for today's good time and bad time? If so, get the essential information only on Astroyogi. The predictions for the Venus transit in Taurus 2025 have been made by Astro Roli. Here's how this plenary transit will affect each of the 12 zodiac signs. During the Venus transit in Taurus, Aries natives will experience a good time both for financial growth and family happiness. Don't be overenthusiastic and overspend, as it may attract unnecessary issues. Moreover, use your speech sophisticatedly; otherwise, you may encounter unnecessary problems and less happy moments. Finance and Profession: The Venus transit will bring focus on financial security and stability. You may attract opportunities to increase your wealth, especially through creative or value-driven efforts. Relationships: Venus in Taurus softens your emotional tone, making home life and close relationships feel more nurturing and harmonious. Remedy: Practice grounding yoga, like mountain pose or warrior II. This Venus transit in Taurus 2025 will be in your sign, and it will be a favorable time for growth in personal life and happiness from relationships. However, be mindful of when you become over-sophisticated; it may lead to unnecessary challenges and stressful times. Finance & Profession: Expect noticeable progress and rewards in your professional life, especially in areas where your talents shine. Relationships: Your magnetic charm will be high, and people may get drawn to you more than usual, creating beautiful chances to connect. Remedy: Wear pastel-colored clothes. This Venus transit may not be Gemini's best time, as it may influence your subconscious. You may seek solitude to process emotions. Introspection will help you understand your needs more clearly. Avoid over-stressing yourself or escapism; instead, use this period for emotional healing. Finance & Profession: Focus on solo tasks or behind-the-scenes work that pays off later. Relationships: Introspection and evaluation of connections. You're likely to crave space to understand what you truly need from others and honor that connection without guilt. Remedy: Light lavender or eucalyptus incense. Also, make charitable donations. The Venus transit in Taurus is a beneficial period for Cancer zodiac individuals. You may experience a sense of wisdom, sophistication, and precise thinking that benefits you both personally and professionally. You may feel a sense of happiness and excitement with the positive developments during this transit. Finance & Profession: Networking and collaborations may open new doors, especially if you're involved in creative or people-centric work. Relationships: You may feel more outgoing and appreciated in your social circles, which can add a boost of happiness to your day-to-day life. Remedy: Display or keep fresh flowers in the north-west corner of your room. Also Read: Know The Remedies For Weak Planetary Positions The 2025 Venus transit will be a favorable time for professional growth for Leo individuals; you may experience increased comfort in your professional endeavors. However, some effort may be required; nonetheless, for the most part, it's a favorable time for career growth and an increase in personal happiness quotient. Finance & Profession: People at work will start noticing your value; promotions or praise could be on the horizon. Relationships: Try to balance work and personal life by making time for your loved ones, as they may feel left out otherwise. Remedy: Place a citrine crystal near your work desk. For Virgos, this will be a period where efforts will be exerted with decision-makers and management. Be cautious of fruitless travel, and this may prove a good time for communications, PR, and online propagation. You may feel lucky with the management and decision-makers. Finance & Profession: Opportunities may arise in travel, media, publishing, or educational areas; be ready to express your ideas. Relationships: You're likely to form deep connections with people from diverse backgrounds or differing belief systems. Remedy: Practice 5-minute silent meditation in the morning. For Libra, ruled by Venus, this transit will be a period of suddenness when it comes to relationships and communications. You may not receive what you expect, so be clear in communicating your inner thoughts. In your relationships, choose your words carefully and explain yourself clearly. Finance & Profession: You may receive benefits through shared resources or collaborations, but only if the exchange is mutually beneficial and fair. Relationships: This is a time to focus on intimacy and emotional connections, but be honest about your needs. Remedy: Practice mirror work by speaking loving truths to your reflection daily. For Scorpio natives, the Venus transit in Taurus in 2025 will be a favorable period for accomplishments, happiness, and personal life. Maintaining balance is important because it can lead to positive outcomes. It's a favorable period to gain from associations and public image, and benefit from partnerships. Finance & Profession: You might attract professional allies or collaborations that bring gains. Relationships: Trust and openness will be your most effective tools; use them to strengthen and harmonize your bonds. Remedy: Use deep red or maroon in your clothing or surroundings. For Sagitarians, the Venus transit effects may bring heightened demands in your associations and relationships, requiring extra effort to maintain harmony. You might encounter moments of challenge or emotional intensity, so it's wise to stay grounded, manage your resources mindfully, and approach personal decisions with thoughtful clarity. Finance & Profession: Organizing your daily routine or workspace will bring a surprising boost to productivity. Relationships: Harmony with colleagues and partners can be achieved through consistent and sincere effort. Remedy: Wear zircon and practice gratitude with mindfulness. The Venus in Taurus transit 2025 may naturally bless Capricorn natives with creativity, romance, and speculative luck. You might enjoy hobbies, artistic projects, or spending more quality time with children. This is your moment to let loose a little. Finance & Profession: Your investments and creative projects can help you attract profits; don't hold back your originality. Relationships: Romance will feel more exciting now; express yourself openly. Also, it's a good time to spend leisure time with your loved one. Remedy: Add artwork or plants to your creative space to awaken inspiration. When Venus transits in Taurus, Aquarians will have a very favorable time in personal life, experience happiness, and material gains. You may feel lucky in achieving desired results. This period may prove beneficial for happiness at home and on the professional front. Finance & Profession: Think real estate, home businesses, or remote jobs during this transit period, as they may flourish now. Relationships: Family time will become more meaningful and strong; make space for emotional bonding. Remedy: Place selenite near your front door for a sense of calm and cleansing. The Venus transit in Taurus prediction suggests that this will be a time of communication, success, and good fortune for Pisces individuals. You may enjoy leisure vacations and spend time with your siblings. Expect excellent times as luck will be on your side in PR, communication, and propagation efforts. Finance & Profession: There is an opportunity for making gains from short trips and writing. Relationships: Build community connections. Reconnect with siblings, old friends, or social circles, as you'll feel supported and lighter at this time. Remedy: Wear white clothes. *Note: Remember that the Venus transit predictions in 2025 mentioned above are general forecasts. For personalized forecasts and remedies, consult a qualified astrologer, such as Astro Roli, only on Astroyogi.#Astrology
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How credit card companies make money
Credit card companies generate most of their income through interest charges, cardholder fees and transaction fees paid by businesses that accept credit cards. Even if you don't pay fees or interest, using your credit card generates income for your issuer thanks to interchange (or swipe) fees. You can minimize fees and interest payments with responsible card use, including timely payments, avoiding cash advances and understanding your card's terms and conditions. You're probably familiar with cardholder fees related to credit cards, but that's just one main source of revenue for credit card companies. They also generate income from two other main sources: credit card interest and transaction processing fees. Credit card companies use various strategies to generate revenue. Whether you carry a balance or not, your credit card activity contributes to the issuer's income. Understanding how credit card companies make money can empower you to minimize fees and interest payments through responsible card use. Credit card issuers — like Chase and Citibank — are lenders. When you buy something with a credit card, you're borrowing money from a lender with the expectation that you'll repay it, sometimes with interest. At the point of sale, the card issuer pays the merchant, and then you're obligated to pay the issuer back. If you don't pay back your charges, the merchant still gets paid, and the card issuer is responsible. The other major players are credit card networks. They manage the process between merchants and card issuers. The four major credit card networks are Visa, Mastercard, American Express and Discover, with American Express and Discover serving as both networks and issuers. There are multiple details that unfold when you swipe your card, but put simply: money must transfer from the issuer to the merchant's bank, a process the network manages. The network checks with the issuer to ensure the funds are available and the card is active before approving the transaction. All of this happens in a matter of seconds at the point of sale and, yes, fees are involved in the process. Credit card companies make the bulk of their money from interest, cardholder fees and transaction fees paid by businesses that accept credit cards. Credit card interest Interest charges are the fees that you, the cardholder, pay for the privilege of borrowing money via your credit card. In most cases, you won't owe interest on your purchases as long as you pay off the balance in full each billing cycle. Interest charges are determined by your card's annual percentage rate (APR), and your APR depends on several factors, including your credit score and the type of credit card you're using. Your card likely also charges different interest rates depending on the type of transaction you're making. For instance, a purchase APR range is likely lower than the APR for cash advances. Balance transfer APRs may also vary. Regardless of the type of APR, the fees represent a major source of revenue for card issuers. More than 50 percent of cardholders report carrying card debt from month to month, according to a June 2024 Bankrate survey, and the Federal Reserve Bank of New York reports that credit card balances hit $1.18 trillion in the first quarter of 2025. With average credit card interest rates now around 20 percent, it's easy to see how this can be a significant source of revenue for issuers. Interchange fees Even if you pay off your credit card balances every month and never pay interest charges, issuers are still making money off of you. That's because every time you use your card, the merchant pays a fee to cover the cost of processing the transaction. This is referred to as an interchange or swipe fee. Interchange fees cover the cost to communicate with the issuer, check for fraud and card validity and ultimately process the payment. They're unavoidable for merchants who want to accept credit or debit cards as forms of payment. These fees are largely invisible to consumers, yet they are an important expense to consider for businesses. Annual and other fees Many credit cards charge an annual fee to hold the card, representing an additional revenue stream for issuers. There are plenty of excellent no-annual-fee credit cards out there, but cards with annual fees are often worth it for the right cardholder who can fully use the perks, features, rewards and benefits that come with that annual fee. In this case, cardholders do get something in return for the fee, even as issuers generate revenue. However, there are numerous other fees that credit card companies may charge, which help them make money, many of which can be avoided by cardholders. Avoidable fees include late payment, cash advance, balance transfer and foreign transaction fees. While these fees can generate significant revenue for credit card companies, cardholders can avoid paying them altogether by understanding their card's terms and conditions and using their cards responsibly. As a cardholder, there are several steps you can take to minimize the fees and interest you pay. It all starts with understanding how your credit card works and then making smart decisions. What are some steps you can take to avoid paying fees? First, be aware of the common credit card fees you may encounter so you can minimize charges or avoid them altogether. Beyond that: Sign up for monthly bill reminders via text or email from your card issuer. This will help you avoid late payment fees. Consider setting up autopay for at least the minimum amount due each month. This automatic payment can prevent you from missing a payment and incurring a late fee. If your credit card charges an annual fee, consider whether the benefits you receive from the card outweigh this cost. If they don't, it might be worth shopping around for a card that doesn't charge an annual fee. Avoid using your credit card for cash advances. Most credit card companies charge a flat rate or a percentage of the transaction. If you travel abroad or shop in foreign currency, make sure you use a card that doesn't charge foreign transaction fees. The key lies in understanding the fees that your card charges. By knowing the fees, you can take steps to avoid some of them. If some charges are unavoidable — such as annual fees — you can make an informed decision about whether the benefits of the card justify that fee. If you're charged an avoidable fee, such as a late payment charge, don't hesitate to contact your credit card issuer. They may be willing to waive the fee, especially if you're a good customer who normally pays your bills on time. Mistakes happen and it never hurts to ask. Otherwise, take steps to ensure you don't incur that fee again. That could mean setting up due date reminders or auto-payments or rethinking your budget and spending less to avoid interest charges. As a cardholder, you help credit card issuers earn money even if you're responsible with your cards and never pay interest or avoidable fees. The annual fee you may pay, along with the interchange fees generated each time you use your card, contributes to the credit card issuer's revenue. Using a credit card comes with costs for the privilege and convenience. Understanding these expenses and using your card responsibly is the key to earning valuable rewards while avoiding unnecessary fees.
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Markets are gearing up for rate cuts. Morgan Stanley thinks investors will be disappointed.
Markets have been clamoring for rate cuts, and are eyeing the next two Fed meetings as possible windows. But Morgan Stanley analysts predict that the Fed won't be cutting rates in July or September. The market's view of rate cuts has brightened after recent dovish commentary. Economists at Morgan Stanley think investors are about to be disappointed in the outcomes of the next two Federal Reserve meetings. The bank said in a note on Friday that, despite a recent push from President Donald Trump and recent dovish talk from central bankers, the July and September FOMC meetings will result in no change to borrowing costs. The Fed's cautious approach this year has sparked backlash from President Trump, who has said he believes interest rates need to be cut "by at least 2-3 points." But since the last meeting, other top Fed officials have come out in support of rate cuts in July, with markets cheering the dovish talk. But Morgan Stanley says don't count on it. Their thesis centers around two key points. First, they expect that the economic data released in the short term will remain consistent with the "wait and see approach" displayed by Powell. While the Fed chairman has reaffirmed a need to further assess the impact of tariffs, he has also recently raised concerns regarding the reliability of economic data. "We expect firmer inflation prints showing more signs of a tariff push over the summer," the analysts note, adding that they also expect the coming employment report to be "relatively solid," both of which are factors unlikely to push the Fed toward rate cuts. They also highlight that despite the recent push from Fed governors Christopher Waller and Michelle Bowman, the pro-rate-cut camp is relatively small. "The Summary of Economic Projections (SEP) published last week revealed that there are seven policymakers who expect no cuts this year," the report states. "In fact, the overall tone of Fed speakers this week was much more aligned with Chair Powell's." San Francisco Fed president Mary Daly and New York Fed president John Williams are examples of Fed officials who have taken a more hawkish approach to interest rates. Both have expressed sentiments similar to Powell's. Morgan Stanley added that both Waller and Bowman's statements raised the probability of rate cuts to 20% in July and 60%-90% in September. The higher odds were cheered by markets during the week, with more dovish forecasts helping propel the S&P 500 to a new all-time high. While Morgan Stanley's analysts note uncertainty remains high and that their predictions could be wrong, they maintain that firmer inflation prints will be coming later in the summer and will likely peak in July or August. They add that their forecast is aligned with Powell's expectations, which include tariffs pushing prices higher in the coming months. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
