_Markets open today_
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📊 *ECONOMY & POLICY*
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🏦 *RBI drains cash, bond slump looms*
Traders expect India bond yields to keep rising as RBI mops up excess liquidity amid higher oil prices and heavy govt debt supply.
A sustained yield climb is a headwind for rate-sensitive financials, autos and real estate.
📎 _Read: Business Standard_
🏦 *Cabinet hikes EPFO wage ceiling to ₹25,000*
The Union Cabinet raised the mandatory EPFO coverage wage ceiling from ₹15,000, bringing 51 lakh+ additional employees into the fold.
A structural positive for formal-sector consumption and PF-linked AUM growth.
📎 _Read: BusinessLine_
https://www.thehindu.com/business/Economy/union-cabinet-approves-raising-epfo-wage-ceiling-to-25000-per-month-from-15000/article71471942.ece
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🌍 *GLOBAL & WORLD*
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🏦 *Fed hikes rates 25bps, more hikes flagged*
New Fed chief Kevin Warsh joined a unanimous move to 3.75-4%, with 16 of 18 policymakers seeing at least one more hike this year.
Signals a tighter-for-longer global rate backdrop — pressures EM flows, the rupee and Indian bond yields alike.
📎 _Read: Business Standard_
🔥 *US House passes bill enabling 100% tariffs on India*
The Russia-sanctions bill, passed 262-159, authorises Trump to impose steep tariffs on countries buying Russian oil and gas, including India; it now goes to Trump to sign.
A direct escalation risk for India’s crude-import bill and export-facing sectors if enacted.
📎 _Read: Business Standard_
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_Compiled by Daily Business Briefs · 17 Sep 2026_