11:11 | India raises inflation outlook, keeps repo rate unchanged; Zelenskyy seeks direct Putin talks; and more

Good morning,

This edition of 11:11 tracks RBI decisions to keep rates unchanged and raise inflation outlook. Beyond India, Ukraine's President Volodymyr Zelenskyy made a fresh diplomatic push by calling on Vladimir Putin for direct negotiations, while Wall Street is betting big on AI-driven growth at SpaceX.

Also noteworthy is the fact that Indian-origin entrepreneurs continue to dominate the ranks of immigrant-founded US unicorns.

The Day Ahead

RBI Governor's press conference: Markets will closely

watch RBI Governor Sanjay Malhotra's press conference at 12 pm for more details on the central bank's decision to keep the repo rate unchanged at 5.25% and raise its FY27 inflation forecast. Investors will look for cues on the RBI's growth outlook, liquidity stance and the future path of interest rates.

Govt to address revised GDP Series: Expect more insights on revised GDP series at 4.30 pm today. The government will hold a press conference after shifting the base year to 2022–23 from 2011–12 earlier this year. The update incorporates newer data sources such as GST and household surveys to better reflect the structure of the modern Indian economy, and could lead to revisions in historical growth estimates.

Nepal FM in India: Nepal's Foreign Minister, Arzu Rana Deuba, is scheduled to visit India. Discussions with the Nepal's new government will focus on bilateral ties, connectivity, trade, energy cooperation and other areas of mutual interest.

RBI raises FY27 inflation forecast to 5.1%; repo rate unchanged

The Reserve Bank of India (RBI) on Friday, June 5, raised its inflation forecast for FY27 to 5.1% and kept the benchmark repo rate unchanged at 5.25%, as policymakers weighed rising global uncertainties and inflation risks.

Bank of India

In public letter, Ukraine's Zelenskyy calls on Putin for direct negotiations in a neutral country

Ukrainian President Volodymyr Zelenskyy on Thursday, June 4, called for face-to-face negotiations in a public letter addressed directly to Russian President Vladimir Putin. The letter, the first public message Zelenskyy has written directly to Putin since Russia launched its full-scale invasion in 2022.

Wipro Ltd.

SpaceX's AI revenue can grow 100x by 2030, Wall Street analysts project to justify valuation

Wall Street research analysts are pulling out all stops to justify the $1.75 trillion valuation tag that comes along with the mega SpaceX IPO. They are now projecting that the Elon Musk-led company's AI division could see revenue growth of over 100x by just the end of the decade.

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RBI opens more long-term government bonds to foreign investors

The Reserve Bank of India has expanded the universe of government securities eligible under the Fully Accessible Route (FAR). The RBI announced that 15-year, 30-year and 40-year tenor government securities (G-Secs) will now be included in the specified securities category under FAR.

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Sterlite Tech shares now in 5% lower circuit after 270% rally in just 43 trading sessions

Shares of Sterlite Technologies Ltd. have seen a 270% rally in just 43 trading sessions, having surged from levels of ₹176 as of closing on March 30, to ₹651 as of closing on Thursday, June 4.

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Wipro shares fall 6% on record date for share buyback — All you need to know

Shares of Wipro Ltd. opened as much as 6% lower on Friday, June 5, as the IT services major's ₹15,000 crore share buyback entered its record date, marking the company's largest buyback programme in nearly three years.

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India, UK review Vision 2035, launch minerals observatory; Liverpool to open Bengaluru campus

During an official visit to India on 3–4 June, the UK's Foreign Secretary, Yvette Cooper, met Prime Minister Narendra Modi and held the first annual meeting with External Affairs Minister S Jaishankar to review the India–UK Vision 2035, adopted during the Prime Minister's visit to the UK in July 2025.

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India's gold ETFs record first monthly outflow in a year

India’s gold exchange-traded funds (ETFs) recorded their first net monthly outflow in a year in May, as investors booked profits after a sharp rally in domestic prices. According to World Gold Council data, gold ETFs saw net outflows of about $61 million (0.4 tonnes), taking total holdings down to 116.3 tonnes.

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Indian-origin founders launched 96 US unicorns, highest among immigrants

Indian-born entrepreneurs account for the largest group of immigrant founders of billion-dollar companies, or unicorns, in the US, according to a new study by the National Foundation for American Policy (NFAP).

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Goa imposes ₹1 crore fine on hill cutting

The Goa Town and Country Planning Board has decided to impose fines of up to ₹1 crore on those found involved in hill cutting in the coastal state, state minister Vishwajit Rane said. Rane told reporters that a fine of ₹50 lakh would be imposed for the first instance.

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AI Watch: NVIDIA senate hearing, AI IPO plans and government stake talks take center stage

Artificial intelligence developments accelerated globally as US policymakers explored deeper involvement in the sector, including reported discussions on government ownership in leading AI companies. Industry leaders jointly called for tighter biosecurity safeguards amid concerns that AI could lower barriers to creating biological threats.

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