RBI keeps repo rate unchanged at 6.5%, stance remains unchanged
he Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Wednesday (December 5) kept key lending rate unchanged at 6.5 per cent after the conclusion of its fifth bi-monthly policy review.
Not only did the 6-member committee decide to keep the repo rate (the rate at which RBI lends money to banks) unchanged, but also kept its 'calibrated tightening' stance in tact.
"The decision of the MPC is consistent with the stance of calibrated tightening of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth," the central bank said in a statement.
It has come to light that only one out of the six members voted in favour of easing the stance. Economists suggested that the RBI kept its stance unchanged as it may be too early to alter its stance.
Gautam Gambhir announces retirement from all forms of cricket
Gautam Gambhir has announced his retirement all forms of cricket. Gambhir, who played a key role in helping India win the World T20 in 2007 and the 2011 World Cup, made the announcement on Twitter.
"The most difficult decisions are often taken with the heaviest of hearts. And with one heavy heart, I've decided to make an announcement that I've dreaded all my life," Gambhir tweeted.
While he scored a blazing 75 against Pakistan in the World T20 final at Johannesburg, his 97 against Sri Lanka in 2011 helped India lift the World Cup at the Wankhede stadium in Mumbai.
Gautam Gambhir reached the career-high ranking of No.1 in Tests in 2009 two years after he was ranked No.1 T20I batsman. In ODIs, Gambhir achieved his career-best 8th rank in ODIs.
Gambhir played 58 Tests, 147 ODIs and 37 T20Is for India since making his international debut in 2003 in Dhaka. The left-handed bat scored 10,324 runs in international cricket.
PM to inaugurate India's longest railroad bridge on December 25
Prime Minister Narendra Modi will inaugurate India's longest railroad bridge on December 25.
The ceremony to mark the opening of the bridge coincides with the 94th birth anniversary of the former prime minister, Atal Bihari Vajpayee, who passed away in August. It was Vajpayee who laid the foundation stone of this bridge in 2002.
The overpass, called Bogibeel Bridge, is in Assam and is a combined road and rail bridge over the River Brahmaputra - precisely between the districts of Dhemaji and Dibrugarh.
It is believed that this route will help the people of Arunachal Pradesh by saving their time on commuting to southern Assam.
As of now, a train journey from Arunachal Pradesh to Assam's Dibrugarh requires a 500 km detour via Guwahati. After the bridge becomes functional, the distance will be reduced by 100 km.
India’s heaviest satellite GSAT-11, that would boost broadband services in the country, was successfully launched by an Arianespace rocket from the French Guiana in the early hours of Wednesday, the Indian Space Research Organisation (ISRO) said.
WCD Ministry to formulate guidelines for children's hostels
The Ministry of Women and Child Development (MWCD) will formulate guidelines for children's hostels, elaborately underlining the minimum standards of care that should be provided to them.
This decision was taken in the wake of the requests made by the parents who are unable to take care of their children and their education or due to other circumstances which force them to keep their child at children's homes, which is not registering under the Juvenile Justice (Care and Protection of Children) Act, 2015.
Union Women and Child Development Minister Maneka Gandhi informed that the Ministry has directed the National Commission for Protection of Child Rights to draft the guidelines in the matter after consulting other concerned stakeholders and they are also planning to have these guidelines notified under the Juvenile Justice Act.
India, UAE Sign 35 Billion Rupees Currency Swap Agreement
India and the UAE on Tuesday signed two agreements, including one on currency swap, as External Affairs Minister Sushma Swaraj held exhaustive discussions with her counterpart Abdullah bin Zayed Al Nahyan to step up cooperation in areas like trade, security and defence.
Swaraj, who arrived here on Monday on a two-day visit, was received by the Foreign Minister of the UAE ahead of the UAE-India Joint Commission Meeting.
"Advancing the Comprehensive Strategic Partnership...EAM @SushmaSwaraj & Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan co-chaired 12th India-UAE #JCM. Held exhaustive discussions on cooperation in energy, security, trade, investments, space, defence & consular, among others," External Affairs Ministry spokesperson Raveesh Kumar tweeted.
Criminal cases against MPs, MLAs: SC asks for special courts in each district of Bihar, Kerala
The Supreme Court on Tuesday directed the constitution of special courts in each district of Bihar and Kerala for the trial of pending criminal cases against present and former MPs and MLAs.
A bench of Chief Justice Ranjan Gogoi and Justices S K Kaul and K M Joseph passed the directions for setting up special courts in every district of the two states and also sought compliance reports from the Patna and Kerala high courts by December 14.
The apex court directed the high courts to send back cases from special courts, which were already constituted, to jurisdictional district courts. The Supreme Court has given the liberty of constituting as many courts as required in the districts of these two states for trial of cases against the legislators.
The apex court also said the special courts would take up life term cases on a priority while hearing pending matters against MPs and MLAs.
NCW to support Northeast livelihood programmes for women
National Commission for Women will support Northeast livelihood programmes for women, particularly for those in younger age group, through Skill development and Specialized training.
This was discussed at a meeting between Minister of Development of North Eastern Region, Dr Jitendra Singh and the newly appointed member of NCW, Soso Shaiza in New Delhi on Monday.
During the meeting, it was observed that there is a huge scope for raising the levels of education among the women living in remote and rural areas.
The Minister said that the National Commission for Women can supplement its efforts and resources in carrying forward several of the women-oriented projects which are already undertaken by his Ministry and the North East Council.
Yes Bank appoints ex-IRDAI chief T.S. Vijayan as independent director
Private sector lender Yes Bank Ltd on Monday appointed former IRDAI chief T.S. Vijayan as an independent director for five years. “Pursuant to approval of board of directors, basis the recommendation of the nomination and remuneration committee (N&RC), Yes Bank…announced the appointment of T.S. Vijayan as an additional director (Independent), with immediate effect,” Yes Bank said in a statement to the stock exchanges.
Vijayan’s appointment would be subject to approval of Yes Bank shareholders at the next general meeting of the bank. He is already a key member of the search and selection committee (S&SC) set up to identify a suitable successor for CEO Rana Kapoor.
“Given that the S&SC has made significant progress and is in advanced stages, the N&RC and the board has decided to seek Vijayan’s larger engagement and involvement, now as an additional board director (independent) with continuation on the four-member S&SC,” the bank said.
Ballon d'Or: Luka Modric ends dominance of Lionel Messi and Cristiano Ronaldo
Real Madrid and Croatia midfielder Luka Modric won the 2018 Ballon d'Or, becoming the first player other than Lionel Messi or Cristiano Ronaldo to claim the award in more than a decade.
Modric, 33, won his third successive Champions League in May before helping Croatia to a first World Cup final.
Former Brazil and AC Milan forward Kaka, in 2007, was the last player other than Messi or Ronaldo to win it.
Ronaldo, who joined Juventus from Real Madrid in the summer, came second.
Barcelona forward Messi finished fifth, with Atletico Madrid frontman Antoine Griezmann and PSG attacker Kylian Mbappe - both of whom won the World Cup with France - third and fourth respectively.