US Lawmakers Challenge 'Illegal' 50% Tariff on India

• Three US lawmakers proposed revoking President Trump's 50% tariffs on Indian imports, deeming them illegal and harmful to US interests.
• State Bank of India (SBI) announced a reduction in loan interest rates following the RBI's 0.25% repo rate cut, effective December 15, 2025.
• The National Stock Exchange (NSE) released its 2026 holiday list, with equity markets closed for 15 days, including 5 Fridays.
• India's cloud data center capacity, currently 1,280 MW, is projected to increase 4-5 times by 2030 due to digitalization and AI growth.

Why It Matters: US lawmakers deem India tariffs illegal, impacting trade and consumer costs.