Pakistani soldier who crossed LoC killed, Army spokesman says

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.

Jaipur, Jan 26: Rajasthan on Saturday on Saturday became the third state in the country to pass a resolution urging the Centre to repeal the Citizenship Amendment Act (CAA).

he resolution was passed in the state Assembly amid opposition by the BJP which accused the ruling Congress of pursuing appeasement politics.

It is the second Congress-ruled state to pass such a resolution after Punjab. The Kerala Assembly too had passed such a resolution against the CAA moved jointly by the ruling Left Front alliance and the opposition Congress-led UDF.

The Rajasthan Assembly resolution, passed by voice vote, also asked the Centre to withdraw the new fields of information that have been sought for updation of the National Population Register (NPR) 2020.

"It is evident that the CAA violates the provisions of the Constitution. Therefore, the House resolves to urge upon the government of India to repeal the CAA to avoid any discrimination on the basis of religion in granting citizenship and to ensure equality before law for all religious groups of India," the state's parliamentary affairs minister Shanti Dhariwal said, moving the resolution.

Leader of the opposition Gulab Chand Kataria of the BJP questioned the state's right to challenge the Act.

"Granting citizenship is a matter for the Centre. In such a situation do we have the right to challenge the CAA? The Congress should stop doing appeasement and vote bank politics," he said.

Sitamarhi, Jun 15: Eyewitness accounts from locals in Bihar's Sitamarhi district recount the brutality and intimidation by Nepal's security personnel who on June 12 had resorted to unprovoked firing on a group of people at the international border, which left one Indian dead and two others injured.

"18-20 shots were fired for over one hour and everyone is in shock even now," said Nitish Kumar, a resident of Jankinagar recalling the incident that took place early on Friday morning.

Nepal's Armed Police Force (APF) opened fire at the Lalbandi-Jankinagar border in which three men - Vikesh Yadav, Umesh Ram and Uday Thakur - suffered gunshot injuries. Vikash Yadav succumbed to his injuries on Friday itself.

Another person Lagan Kishore, who was at the border with his family to meet his daughter-in-law, a Nepali national and her family, said he was detained by the APF personnel who dragged him to the other side of the border.

Lagan Kishore said that the Nepali personnel abused and hit him with rifle butts and even abused his son and later resorted to firing.

Several residents of Jankinagar, who spoke to media, termed the incident as "unfortunate and shocking".

Nitish Kumar recalled: "A family was here to meet their in-laws (Nepali nationals). The daughter-in-law was talking to her family while her husband and her father-in-law sat a little distance away. Suddenly I saw Nepali personnel abusing her husband who complained about it to his father. All of a sudden the Nepali forces started thrashing them and then opened fire. They also took the father into custody."

"We were all shocked. I could hear about 18-20 gunshots fired over a period of one hour," Kumar said.

Another local, Ajit Kumar, said he was perplexed with the behaviour of the Nepali Police.

"There used to be no problems earlier. We don't understand what happened to the Nepal Police that day. The firing is unfortunate. If this continues, how will people in the border area live?" he questioned.

Ajit Kumar stated that such an incident has taken place for the first time. "People from here go to work in fields in Nepal and their people come to work in our fields. Such a thing has happened for the first time. About 80 per cent of our people are married to Nepalis," he said.

Many people who live in the adjoining districts of Bihar, which shares over 600 kilometres of border with Nepal, have relatives on either side of the border.

Meanwhile, Nepali police have claimed that Lagan Kishore, who was taken into custody following the firing by APF and handed over to Indian Security Forces at no man's land on June 13, was detained for trying to snatch a weapon from one of their personnel during an altercation.

However, both Kishore and his family have denied the claims and said he was "dragged" across the border and was beaten.

Kishore said that during the firing he had rushed towards the Indian side but Nepalese personnel hit him with rifle butt and took him to Nepal's Sangrampur. He was also asked to confess that he was taken into custody from the Nepali side.

"We ran to return to India when they started firing, but they dragged me from the Indian side, hit me with a rifle butt and took me to Nepal's Sangrampur. They told me to confess that I was brought there from Nepal. I told them you can kill me but I was brought there from India," said Kishore.

Kishore's son also said that Nepali personnel started abusing them and hit him and his father.

Speaking to ANI, Kishore's son said, "We went to meet my brother-in-law. Security personnel started abusing me but I could not understand their language. However, my brother's wife asked them to not abuse. After that, they came to the Indian side and hit me. I told my father about the incident and he confronted them."

"They started beating him and called fellow personnel who started firing and dragged my father from the Indian side, hit him with a rifle butt and took him to Nepal''s Sangrampur," he said.

Relations have become strained between India and Nepal after the latter released a map showing parts of Indian Territory-Lipulekh, Kalapani and Limpiyadhura as its own.