Lord Ganesha to write commerce exam, issued admit card by a university in Bihar

New Delhi, Apr 11: Ahead of Prime Minister Narendra Modi's meeting with chief ministers, senior Congress leader P Chidambaram on Saturday urged CMs of states where the party is in power to unanimously demand for transfer of cash to every poor family.

He said the poor have lost their jobs and have exhausted their savings. They are now standing in lines to get free food, the former Union finance minister said.

Chidambaram said remonetising the poor would cost only Rs 65,000 crore, which is economically viable.

"Chief ministers Amarinder Singh, Ashok Gehlot, Bhupesh Baghel, V Narayanasami, Uddhav Thackeray and E Palaniswani should tell the prime minister today that just as LIVES are important LIVELIHOOD of the poor is important, he tweeted.

"The poor have lost their jobs or self-employment in the last 18 days. They have exhausted their meagre savings. Many are standing in line for food," Chidambaram said.

Can the state stand by and watch them go hungry," he asked, adding that chief ministers should demand that cash be transferred to every poor family immediately.

"Remonetise the poor should be their unanimous demand," Chidambaram said.

Lucknow, Jun 20: A media body on Saturday described as "an act of intimidation" the filing of an FIR in Uttar Pradesh against a journalist over a report on the impact of the lockdown on a village, saying it was part of an "established pattern" of harassment of independent scribes.

In a statement, the Media Foundation put on record its strong protest over the FIR filed by the Uttar Pradesh government against Supriya Sharma, executive editor of news portal Scroll.in.

The case was filed against Sharma for allegedly misrepresenting facts in a report on the impact of the lockdown in a village adopted by Prime Minister Narendra Modi, police sources had said on Thursday.

The FIR against Sharma and the Scroll editor-in-chief is an "an act of intimidation and a case of abuse of process", intended to discourage honest and critical reporting, the Media Foundation said.

The Media Foundation was started in 1979 with the aim of upholding freedom of speech, expression and information.

The FIR against Sharma is only the latest instance of similar coercive actions against professional journalists, part of "an established pattern of harassment and humiliation of independent journalists", it said,

"It is an unacceptable encroachment on press freedom," said the foundation, whose chairperson is veteran journalist Harish Khare.

The Media Foundation called upon the judiciary, and central and state governments to uphold the spirit of freedom of speech and expression as guaranteed in the Constitution.

Mumbai, Mar 27: The Reserve Bank of India (RBI) on Friday lowered the key repo rate by 75 basis points to 4.4 per cent in a bid to arrest the economic slowdown amid coronavirus (COVID-19) outbreak.
The reverse repo rate now stands at 4 per cent, down by 90 basis points, said RBI Governor Shaktikanta Das adding this has been done to make it unattractive for banks to passively deposit funds with the central bank and instead lend it to the productive sectors.
The six-member monetary policy committee (MPC) met on March 24, 25 and 27 and voted 4:2 in favour of the repo rate reduction. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target.
"The need of the hour is to shield the economy from the pandemic," said Das. "We need to mitigate the impact of coronavirus, revive economic growth and provide financial stability."
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.
The RBI Governor further said that the economic growth and inflation projection will be highly contingent depending on the duration, spread and intensity of the pandemic.
"Global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019's decade low in global growth have been dashed," said Das.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession," he said.
However, the RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP. "Along with today's measures, liquidity measures equal to 3.2 per cent of GDP. The RBI will take continuous measures to ensure liquidity in the system."
The RBI governor has said that all banking institutions can offer a three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as a non-performing asset (NPA).
The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.
Das said banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed.
"Market participants should work with regulators like the RBI and the Securities and Exchange Board of India (SEBI) to ensure the orderly functioning of markets in their role of price discovery and financial intermediation," he said.