Overview
- A Pakistan-brokered, two-week ceasefire between the United States and Iran announced Wednesday paused threats around the Strait of Hormuz after Tehran accepted the offer.
- Oil prices fell sharply and stocks rallied worldwide following Wednesday's announcement, with India’s Sensex jumping by more than 2,000 points.
- India publicly welcomed the ceasefire and the Reserve Bank of India kept the policy repo rate at 5.25%, citing higher economic risks tied to West Asia even with near-term relief.
- Delhi allowed people to buy 5‑kg LPG cylinders with a valid ID and no address check and it banned direct godown sales to make cooking gas easier to get for migrants and short-term residents.
- Assam and Meghalaya declined to buy power above their share from the Subansiri Lower hydro project, saying extra purchases would raise household electricity bills.