Jet Airways, SpiceJet, Air Asia to add new aircraft to their fleet to meet demand

The Jamaat-e-Islami Hind (JIH) has urged Muslims to take precautions during Eid ul-Adha (Bakrid), to be celebrated in the last week of July, and has issued guidelines on offering prayers and sacrifices.

"The namaz should be offered by adhering to the social distancing norms at eidgahs and mosques. Muslims should offer the Eid prayer at home in the same manner as they had done during Eid ul-Fitr in areas where restrictions have been imposed due to COVID-19," it said.

For the sacrifice of animals, a part of the festival, the JIH said "precautionary" measures should be taken due to the pandemic.

"Don't offer qurbani on roads, footpaths and pathways. Ensure the highest level of cleanliness and hygiene. Ensure that you bury the blood and entrails of the animal after qurbani or deliver it at the designated spot of garbage collection," the JIH said in a statement.

The JIH said it would be appropriate to form a committee few days before the Eid ul-Adha, which would keep an eye on the situation, remain in touch with the local administration and offer cooperation towards maintaining the law and order in the area.

Kanpur, Jan 18: Kanpur has witnessed an Unnao-like incident as the out on bail accused in rape case attack the family members of the victim. The mother of the victim, who later died in the hospital, was brutally attacked by the accused. The accused reportedly attacked the victim's mother and her aunt on January 8.

The actual rape case goes back to 2018 when a group of men abducted a minor girl from her own society. The accused had reportedly raped her and also beaten up her mother.

A video of mother being beaten up reportedly went viral soon after.

The mother of the victim had reportedly filed a complaint against one of the accused for abducting and molesting her daughter two years ago at a tannery falling under jurisdiction of Chakeri police station. The main accused along with five others was booked under section 354 of the IPC (sexual assault of children) and sent to jail. Around two weeks ago, the accused got bail and on January 9 they attacked the deceased and her sister.

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.