ICICI's Chanda Kochhar To Go On Leave, Sandeep Bakhshi Appointed COO

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of COVID-19 induced countrywide lockdown.

As a result, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das. The six-member monetary policy committee (MPC) voted 5:1 in favour of the decision.

Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them. 

New Delhi, Jun 16: Congress president Sonia Gandhi on Tuesday demanded a rollback of hike in fuel prices, saying the government's decision to increase the prices of petrol and diesel during the coronavirus crisis is "wholly insensitive" and "ill-advised".

The government is doing nothing short of "profiteering off its people" when they are down and out, she said in a letter to Prime Minister Narendra Modi.

Petrol and diesel prices were hiked for the 10th day in a row on Tuesday.

"I am deeply distressed that in these exceedingly difficult times since the beginning of March, the government has taken the wholly insensitive decision to increase petrol and diesel prices on no less than ten separate occasions," Gandhi said in her letter.

She accused the government of earning an additional revenue of nearly Rs 2.6 lakh crore through these "ill-advised" hikes in excise duty and increase in prices of petrol and diesel.

"I urge you to roll back these increases and pass on the benefit of low oil prices directly to the citizens of this country.

"If you wish for them to be 'self-reliant' then do not place financial fetters on their ability to move forward," the Congress president said.

Gandhi also urged the government to use its resources to put money directly into the hands of those in need in these times of severe hardship.

New Delhi, Jun 25: Union Home Minister Amit Shah on Thursday hit out at Congress for "unceremoniously sacking" its spokesperson and said that leaders in the opposition party are "feeling suffocated".

To substantiate his point, Shah referred to the recent Congress Working Committee (CWC) meet in which senior members and younger members raised a few issues, however, they were "shut down".

Taking to Twitter, Shah posted two English dailies' articles titled -- "Not scared of PM Modi, but many in the party dodge him: Rahul at Congress Working Committee meet" and "Congress removes Sanjay Jha as party spokesperson after critical article".

Last week, Jha was dropped as AICC spokesperson and Abhishek Dutt and Sadhna Bharti appointed as National Media Panelist of Congress party.

"During the recent CWC meet, senior members and younger members raised a few issues. But, they were shouted down. A party spokesperson was unceremoniously sacked. The sad truth is - leaders are feeling suffocated in Congress," the Union Minister tweeted.

Meanwhile, Shah also targetted Congress on the completion of 45 years of emergency, which was imposed by former Prime Minister Indira Gandhi on June 25, 1975 and asked the party to self introspect.

"As one of India's opposition parties, Congress needs to ask itself: Why does the Emergency mindset remain? Why are leaders who do not belong to 1 dynasty unable to speak up? Why are leaders getting frustrated in Congress? Else, their disconnect with people will keep widening," he wrote.