BJP's 'beef' ad fuels row, rivals complain, EC bans adverts

Kanpur,  Jul 3: A total of eight police personnel including Deputy Superintendent of Police Devendra Mishra have lost their lives after they were fired upon by criminals in the early hours of Friday.

The incident took place when a police team had gone to raid history-sheeter Vikas Dubey's house.

Senior Superintendent of Police and Inspector General of Police have reached the spot and forensics team is examining the area.

State Chief Minister Yogi Adityanath has expressed his condolence to the families of the eight Police personnel who lost their lives after being fired upon by criminals in Kanpur. He has directed Director General of Police HC Awasthi to take strict action against criminals. He also sought a report of the incident. 

Ahmedabad, Feb 24: US President Donald Trump and his wife Melania on Monday tried their hands at spinning the 'charkha' (spinning wheel) at the Sabarmati Ashram here.

Accompanied by PM Narendra Modi, the US president and his wife went around the Ashram, before resuming the roadshow from the airport to the Motera stadium. "To my great friend Prime Minister Naredra Modi, thank you for this wonderful visit," Trump wrote in the Ashram visitors' book.

The US President was briefed about Gandhiji and the importance of charkha as a symbol of self reliance. Trump reached Ahmedabad at 11.37 am for the first leg of his India visit.

US President Donald Trump arrived in Ahmedabad on Monday for the first leg of his India trip. The Air Force One plane carrying Trump and his wife Melania landed at the Sardar Vallabhbhai Patel international airport here at 11.37 am, officials said. It was scheduled to land at 11.40 am.

Trump, who is also accompanied by daughter Ivanka, son-in-law Jared Kushner and top brass of his administration, will get a taste of India's cultural melange during his high- optics Gujarat itinerary, after the bonhomie between the two leaders at the 'Howdy, Modi!' event in Houston last year.

New Delhi, Jul 16: With India's economic growth sputtering, the Reserve Bank of India was expected to maintain a rate-cutting cycle, but an uptick in near-term inflation could give the central bank's Monetary Policy Committee reason to pause for now.

Having cut its key lending rate by an aggressive 115 basis points (bps) in 2020, on top of 135 bps cuts in 2019, the RBI so far has had little success in spurring credit growth amid varying degrees of lockdowns across India.

Some economists and market insiders argue it may be prudent for the MPC, the policy committee, to hold its fire when it meets early next month.

"It's probably too early to administer a demand stimulus. The RBI still has room to cut rates, but we probably want to be more cautious of the timing," said Venkat Pasupuleti, portfolio manager at Dalton Investments.

"Maybe they should wait a quarter to see how things pan out once the lockdown situation is eased further."

Market participants have factored in at least a 25 bps rate cut by the MPC on August 6 while analysts are predicting a total 50-75 bps cuts over the rest of the fiscal year that runs to March 31.

The spike in the retail inflation rate above the RBI's mandated 2%-4% target range is another reason for the central bank to take a breather, analysts say.

Annual retail inflation rose to 6.09% in June, compared to 5.84% in March and sharply above a 5.30% median forecast in a Reuters poll of economists.

Rahul Bajoria, an economist at Barclays, said the spike in both consumer and wholesale prices "could lead to a tempering in enthusiasm for material front-loaded policy support from here on."

Almost all economists however agreed the RBI cannot move away from its accommodative stance or call an end to the rate cutting cycle just yet.

India's economy grew at 3.1% in the March quarter - an eight year low - and some economists have predicted a contraction of more than 20% in the June quarter and a contraction of up to 5% in the fiscal year.

"Even in the event of a pause, we think the RBI and MPC would want to hold out the promise of more cuts," said A. Prasanna, economist with ICICI Securities.

RBI Governor Shaktikanta Das said in a recent speech the need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger, suggesting inflation concerns are unlikely to deter the downward trajectory for rates too soon.

"The August policy decision would boil down to a judgment call over whether RBI can maintain easy monetary and financial conditions without the aid of a token rate cut," Prasanna said.