Home loan norms, interest rates: Brokerage views on RBI's policy review. The Reserve Bank of India (RBI) kept key rates – repo and reverse repo – unchanged while reviewing the monetary Policy on Wednesday.
The central bank also sharply lowered its inflation projection for H1 FY18 (year ending March 2018) to 2.0-3.5 per cent (from 4.5 per cent earlier) and H2 FY18 to 3.5-4.5 per cent (from 5 per cent), with risks evenly balanced. It also lowered its GVA growth projection to 7.3 per cent from 7.4 per cent for FY18. Eye in the sky: Isro to launch new satellite in Cartosat-2 series in June. When Indian Army soldiers crossed the Line of Control last year to conduct surgical strikes against terrorists, they had help from an "eye in the sky".
Now, the Indian Space Research Organisation (Isro) is strengthening this capability by launching an earth observation satellite belonging to the Cartosat-2 series later this month. The mission's primary objective is to provide high-resolution, scene-specific spot imagery. This is similar in configuration to earlier satellites in the series. Diesel petrol prices to change daily from June 16 dealers raise concerns. Finance ministry and RBI split now out in the open. "The meeting did not take place.
All the MPC members declined the request of the finance ministry for that meeting," Patel said, when asked at a post-monetary policy press conference whether such meetings compromised the autonomy of the RBI. The finance ministry reacted sharply to the RBI’s decision not to cut rates, with Chief Economic Advisor Arvind Subramanian telling reporters that “in recent times, seldom have economic conditions and the outlook warranted substantial monetary policy easing.” Subramanian said that non just headline prices, core inflation had declined as well and indicated that the RBI’s “inflation forecast errors have been large and systematically one-sided in overstating inflation.”
The CEA also said that real economic growth had seriously decelerated as suggested by indicators such as gross value added, index of industrial production, capital formation and capacity utilisation. “There is absolutely no economic basis for the MPC’s decision to hold rates today. Diesel, petrol prices to change daily from June 16; dealers raise concerns. State-run oil marketing companies (OMCs) have decided to roll out the daily revision of fuel prices nationally from the second fortnight of June.
However, this has raised concerns about viability and inventory management among dealers. Currently, Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) review retail fuel prices every fortnight while taking global crude oil prices into account. "We are planning to have a national launch of the dynamic pricing system by the second half of this month.
Myanmar plane with 120 on board crashes, wreckage found: All we know so far. The wreckage of the Myanmar military aircraft, which went missing on Wednesday with 122 people on board, was found on Thursday with some dead bodies in the Andaman Sea off the country's Dawei town.
The cause of the plane’s crash remains unclear as of now. "We have found the plane and some dead bodies this morning about 8.25 am (07:25 am IST)," a spokesman for the military's information team said. Maharashtra farmers' strike: Why a bountiful harvest drove them to anger. Full text RBI keeps rates unchanged cuts inflation projection. 5 Nifty companies announce bonus shares in 2017; highest in 11 years. Engineering & construction giant Larsen & Toubro (L&T) and state-owned oil marketing company, Bharat Petroleum Corporation (BPCL) from the Nifty50 index in last week declared bonus shares in the ratio of 1:2 i.e. 1 new bonus equity share for every existing 2 equity shares.
Besides these two, total five companies including ICICI Bank, Wipro and Gail (India) from the index announced bonus shares thus far in the current calendar year 2017 (CY17). Jio effect? Telecom industry is at its weakest, govt will have to step in. IN PICS: UP CM Adityanath and Baba Ramdev practice asanas ahead of Yoga day. Ram Naik, Adityanath and Baba Ramdev performed various asanas together at the Raj Bhavan.
Photo Twitter: (@yogrishiramdev) State Chief Secretary Rahul Bhatnagar, a joint secretary of Ministry of AYUSH and other officials recently took part in a preparatory meeting for the event that is to be held under the auspices of the Centre and the state government. Senior citizens, aanganwadi workers and around 500 divyangs are expected to participate in the International Day of Yoga celebrations. Nasty regional rivalry? What triggered Qatar-Gulf dispute & why it matters. Gulf Arab countries summon images of oil-fueled wealth, luxurious malls and strong Muslim identity.
Nasty regional rivalry, diplomatic ruptures and panicked citizens stockpiling groceries don’t usually figure. So why have Gulf states Bahrain, Saudi Arabia, the United Arab Emirates (UAE) and Yemen, as well as non-Gulf Egypt, dramatically ruptured relations with tiny Qatar? Modi govt to sharpen plan for naming and shaming tax defaulters. The tax department is looking at expanding the scope of naming and shaming of defaulters by sharing detailed data with banks, financial institutions and credit rating agencies, among others.
The move is being mulled as part of a broader strategy aimed at arrears recovery and litigation management.In the absence of tax amnesty or income disclosure schemes, which provided a buffer to the government last year, the Centre might have to rely on arrears recovery to meet tax collection target this fiscal year. A committee has been constituted to recommend measures for expeditious recovery of tax arrears, currently at more than Rs 10 lakh crore.
The report would be submitted to the chairman of Central Board of Direct Taxes (CBDT) by July 15. Qatar's two clear choices in Gulf diplomatic rift: Bow down or defy Saudi. Qatar, a small Gulf state with the largest GDP per capita in the world and host of the 2022 World Cup, is suddenly at the heart of a diplomatic spat that is threatening stability in the region.
On the morning of June 5, Bahrain, Saudi Arabia, the UAE and Egypt all withdrew their ambassadors from Qatar, giving them 48 hours to leave and giving Qatari citizens 14 days to return home. They did this after the Emir of Qatar, Sheikh Tamim, was alleged to have stated that “Iran represents a regional and Islamic power that cannot be ignored, and it is unwise to face up against it”. He also supposedly called for a de-escalation in tensions with Hezbollah and allegedly referred to Hamas as “the legitimate representative of the Palestinian people”.
These comments were at first reported by official Qatari media outlets, but then taken down; Doha dismissed them as “fake news” and claimed that its news agency had been hacked to post them. The UAE’s Ministry of Foreign Affairs had this to say: Delhi Police detain 10 Jet Airways pilots for abusing DGCA on social media. Ten Jet Airways pilots who were taken off duty for wrongly addressing a Directorate General of Civil Aviation (DGCA) official have been detained by Delhi police for making obscene remarks. The pilots were detained on a complaint from the DGCA on Tuesday afternoon and the incident could snowball into an agitation. “DGCA has filed a complaint (against pilots) for making remarks against our officials on social media. It is for the police to take any action,” Director General of Civil Aviation B S Bhullar said in a text message response. A spokesperson for Delhi police said they were examining the matter and no arrests had been made yet.
Rocket crashes inside Indian Ambassador Manpreet Vohra's house in Kabul. A rocket on Tuesday crashed into the tennis court of Indian Ambassador Manpreet Vohra's house, but there were no reports of any injury, external affairs ministry sources said. Apart from the Indian Ambassador's residence, other mission staff also stay inside the premises. "No injury reported so far," a source said in New Delhi. The attack happened at about 11.15 am in the heavily fortified diplomatic quarter in Kabul which houses a number of embassies, according to local reports. Streets in the city centre, especially around the Presidential Palace, the Green Zone and Wazir Akbar Khan, were largely closed off by security forces after the attack.
Ashraf Ghani issues ultimatum to Taliban, gives last chance to make peace. Afghan President Ashraf Ghani issued an ultimatum to the Taliban on Tuesday, warning them to embrace peace or "face consequences" after announcing that the death toll from last week's truck bombing had passed 150. Ghani has come under mounting public criticism for spiralling insecurity, with a wave of protests and deadly street clashes roiling the Afghan capital as people incensed by the violence call for his government's resignation.
The president made a strong plea for security at an international peace conference on Afghanistan attended by around two dozen countries. CBI raids NDTV's Prannoy Roy for 2008 deals with ICICI Bank. NDTV raid: Media outlet critical of Modi govt finds itself in a soup. India’s main investigative agency on Monday raided residences and offices connected to the founders of NDTV, an influential cable TV station that has had run-ins with Prime Minister Narendra Modi’s government over its news coverage. The agency, the Central Bureau of Investigation, cited “causing an alleged loss to a bank” as the reason for the four simultaneous raids. Gulf-Qatar rift: What it means for India and the global oil market.
ICC Champions Trophy Top 8 memorable India vs Pakistan matches (1) Oil prices jump after Saudi Arabia and Arab allies cut ties with Qatar. Jio user? You've got the fastest 4G download speed in India at 19.12 mbps. Oil prices jump after Saudi Arabia and Arab allies cut ties with Qatar. Saudi Arabia and key allies on Monday cut ties with Qatar, accusing it of supporting extremism, sending shockwaves through the energy industry as the countries involved include the world's top oil and liquefied natural gas (LNG) exporters. Saudi Arabia, the world's biggest crude oil exporter, along with the United Arab Emirates, Egypt, and Bahrain said they would sever all ties including transport links with Qatar, the top LNG exporter in the world. The three Gulf countries said they will give Qatari visitors and residents two weeks to leave.
"(Qatar) embraces multiple terrorist and sectarian groups aimed at disturbing stability in the region, including the Muslim Brotherhood, ISIS (Islamic State) and al-Qaeda, and promotes the message and schemes of these groups through their media constantly," Saudi state news agency SPA said . Why Isro's launch of heaviest rocket GSLV MK-III is a big deal for India. We will not succumb: NDTV says in a statement after CBI raids Prannoy Roy. 8 minutes on London Bridge: Years of training led to prompt police response.
Eight minutes. GST on gold: Buying and making jewellery to get expensive for consumers. Tiger Shroff shares first look of 'Munna Michael' (1) Donald Trump's decision to leave Paris agreement hurts the US and the world. Editor’s note: President Donald Trump stunned the world on June 1 by announcing his intention to withdraw the United States from the Paris climate accord, a landmark global agreement to lower greenhouse gas emissions and minimise the harm from climate change. India to keep Paris climate pact vows despite US pulling out of the deal. NDTV to bring down curtains on NDTV Profit. Harvard University to offer 'Game of Thrones' history course. Another Ruby Rai? Bihar Class 12 topper can't explain basics of music. After 'PM Modi' blunder, Megyn Kelly's 'unprofessional' dress haunts her.
How to link your Aadhaar with PAN through just an SMS. Infosys staffer found dead in firms Chennai premises foulplay suspected. Infosys staffer found dead in firm's Chennai premises, foulplay suspected. Cow should be national animal, its killers must get life term: Rajasthan HC. IT job losses and the govt's denial: Why is nobody taking responsibility? Two militants killed in J&K. Modi-Putin summit: officials work overtime to iron out nuclear pact details.
UPSC result 2016 topper Nandini to opt for IAS, wants to work in India. India GDP to grow faster in FY18 at 75 Moodys. Protestors challenge cow rakshaks by openly eating beef in Chennai. 2 months of Yogi: 700,000 men checked by anti-romeo squads, 538 cases filed. New pink-green Re 1 notes to be circulated soon: Here are the details.
Inside story behind Modi govt's move to regulate cattle slaughter markets. Now, you can link your Aadhaar with PAN through an SMS. Debt trap: Air India's ride out of turbulence may have hit a dead end. Car bomb explodes near Indian embassy in Kabul, 40 killed or wounded. Smartron srt.phone A fine deal if you are a die hard Sachin Tendulkar fan. Xiaomi Redmi 4 sale begins on Amazon All you need to know about the device. Strike today Chemists down shutters across India protest e platform plan. Infosys board admits cultural differences, says founders will be consulted. Indian navy spurns homemade warplane, latest blow to push for self reliance.
Business Standard. Some hits some misses AAPs eventful two years in office. The Sasikala gameplan for guilty verdict Quickly nominate a new CM for TN. UP elections: Phase two polling begins in 67 Assembly constituencies. TN crisis: Sasikala jailed for corruption; can't contest polls for 10 yrs.