Amidst economic slowdown, RBI keeps benchmark interest rate at 5.15%

Agencies
February 6, 2020

Mumbai, Feb 6: The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth.

The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.

"Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain status quo,” the Monetary Policy Committee (MPC) said.

The six-member committee voted unanimously to hold rates, but also said that there is “policy space available for further action”.

Between February and October 2019, the RBI had reduced repo rate by 135 basis points.

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News Network
January 15,2020

Srinagar, Jan 15: The Jammu and Kashmir administration on Tuesday evening allowed mobile Internet in parts of Jammu region and broadband in establishments providing essential services, days after the Supreme Court ordered a review of the curbs imposed in the Union Territory.

The order comes into effect from January 15 and shall remain in force for seven days, a government communication said.

In a three-page order, the administration asked Internet service providers to offer broadband facility (with Mac binding) to all institutions dealing with essential services such as hospitals, banks and government offices.

In order to facilitate tourism, the broadband Internet services would be provided to hotels and tour and travel establishments, the order said.

Mac Binding essentially means to enforce a client machine to work from a particular Internet Protocol address.

"Prior to giving such facility, the service providers have been asked to install necessary firewalls and carry out white-listing of sites that would enable government websites and website dealing with essential services like e-banking," the order said.

However, all social media sites remain out of bounds. "There shall be complete restrictions on social media applications allowing peer-to-peer communication and virtual private network applications for the time being," the order said.

The institutions and government offices that are being provided Internet access shall be responsible to prevent misuse, according to the order.

It said the 2G mobile connectivity on post-paid mobiles for accessing white-listed websites including e-banking will be allowed in districts of Jammu, Samba, Kathua, Udhampur and Reasi -- all in the Jammu region.

The order said that the police has brought material relating to the terror modules operating in Jammu and Kashmir including handlers from across the border who are attempting to aid and incite people by transmission of fake news and targeted messages through use of Internet.

The relaxation came days after the Supreme Court said access to the Internet is a fundamental right under Article 19 of the Constitution.

The SC verdict had come on Friday on a batch of pleas challenging the curbs imposed in Jammu and Kashmir after the Centre's abrogation of provisions of Article 370 on August 5 last year.

The court had also asked the Jammu and Kashmir administration to review within a week all orders imposing curbs in the Union Territory.

It had asked the J-K administration to restore Internet services in institutions such as hospitals and educational places providing essential services.

The J-K administration's Tuesday communication said that in view of the Supreme Court directions, the situation has been reviewed and Internet has been opened whereever it was possible keeping in view the security consideration.

In Kashmir, 400 additional Internet kiosks will be established, besides the 900 terminals which are already operational in the Valley.

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News Network
June 11,2020

New Delhi, Jun 11: Union Minister Kiren Rijiju on Thursday said the religious and constitutional rights of minorities are absolutely safe in India and it does not need any certificate from anyone as communal harmony and tolerance are in the DNA of the country and its majority community.

Comments of Rijiju, a Buddhist, came after a top Trump administration official has said that the US is very concerned about what is happening in India in terms of religious freedom.

"India doesn't need certificate on communal harmony and tolerance which is in the DNA of India and the majority community in India," Rijiju, who holds the charge of the Union minister of state for minority affairs besides being the union sports minister, said in a statement.

Rijiju said the social, religious and constitutional rights of minorities are absolutely safe in the country.

"A few politically intolerant people are trying to create an atmosphere of fear and intolerance. As a member of the minority community, I feel India is the best country in the world for the minorities," he said.

Samuel Brownback, the US Ambassador-at-Large for International Religious Freedom, said on Wednesday that India has been a country area that spawned four major religions itself.

"We do remain very concerned about what's taking place in India. It's historically just been a very tolerant, respectful country of religions, of all religions," he said.

The trendlines have been troubling in India because it is such a religious subcontinent and seeing a lot more communal violence, Brownback said.

His comments came after the release of the '2019 International Religious Freedom Report'.

Mandated by the US Congress, the report documenting major instances of the violation of religious freedom across the world was released by Secretary of State Mike Pompeo at the State Department.

India has previously rejected the US religious freedom report, saying it sees no locus standi for a foreign government to pronounce on the state of its citizens' constitutionally protected rights.

"India is proud of its secular credentials, its status as the largest democracy and a pluralistic society with a longstanding commitment to tolerance and inclusion", the government had said earlier.

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News Network
February 11,2020

New Delhi, Feb 11: Celebrations broke out at the AAP headquarters here as early vote-counting trends for the Delhi Assembly polls on Tuesday showed a comfortable victory for the Chief Minister Arvind Kejriwal-led party.

The headquarters were decorated with blue and white balloons and big cut-outs of Kejriwal were placed in different parts of the party office.

"We knew it. We have changed the politics of this country. Now it is Delhi, next is India," said Sanjeev Singh, a party volunteer from Hari Nagar.

Another volunteer Fareen Khan said, "We hope we get such a clear majority that a message goes out that doing Hindu-Muslim politics will not work anymore."

The Aam Aadmi Party (AAP) is leading in 26 seats while the BJP is leading in 14 seats, according to early trends by the Election Commission.

According to the EC's website, AAP convenor Kejriwal is leading in his New Delhi constituency.

Kejriwal reached the party office as the counting of votes got underway.

Counting centres are spread across 21 locations, spanning 70 constituencies.

Polling for the 70-member Delhi Assembly was held on Saturday.

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