NCDEX has launched India’s first exchange-traded weather derivative contract, RAINMUMBAI, allowing traders and businesses to hedge against rainfall variability during the monsoon season. The contract is linked to Mumbai rainfall deviation data from IMD and aims to help weather-sensitive sectors manage financial risks arising from excess or deficient rainfall.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend