To protest is our democratic right, but keep emotions under control: Shahi Imam

Mangaluru, Jan 9: Customs officials seized 1.575 kg gold, worth about, Rs 63 lakh from three passengers who arrived from Dubai here at Mangalore International Airport on Thursday.

Official sources said that in the first incident, three days back gold weighing 336.7 grams was found in possession of an inbound air passenger. The passenger who arrived by Air India flight from Dubai had concealed the gold in his socks. The value of the seized gold is estimated to be Rs 13.43 lakh.

In the other two instances that took place on January 7, gold weighing 1239 gram and worth about Rs 50.3 lakh was confiscated from two passengers who arrived from Dubai by Air India flight. One of the passengers had attempted to smuggle 523 gram gold in paste form.

Mumbai, Mar 27: The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across banking system.

The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor.

RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune.

It all depends how India responds to the situation, he said.

Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production.

Aggregate demand may weaken and ease core inflation further, he noted.

The liquidity measures announced include auction of targeted long-term repo operation of 3 year tenor for total amount of Rs 1 lakh crore at floating rate and accommodation under Marginal Standing Facility to be increased from 2 per cent to 3 per cent of Statutory Liquidity Ratio (SLR) with immediate effect till June 30.

Combined, these three measures will make available a total Rs 3,74,000 crore to the country's financial system.

After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation.

The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown.

While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus.

Bengaluru, Mar 7: As a precautionary measure to control the spread of coronavirus in Karnataka, the state government has planned to suspend biometric attendance for the time-being at its offices, also in corporate and IT companies, Medical Education Minister Dr K Sudhakar said on Saturday.

He said the government has taken all precautionary measures to control the spread of the virus in the state.

"Our Additional Chief Secretary has already spoken to IT companies yesterday on behalf of the government regarding guidelines that need to be followed, it is part of it...we will do it in the government also in the days to come," Sudhakar told reporters here.

He was responding to a question about suspending biometric attendance at offices in the wake of the coronavirus outbreak.

Asked about suspending biometric attendanceat government offices, he said, "we have planned to do it yesterday."

Sudhakar said so far in Karnataka not even one case has been identified, to that extent we have been taking precautionary measures effectively.

He said from villages to state capital Bengaluru at all levels the health department officials have been activated as part of the precautionary measures.

Also, committees headed by Deputy Commissioners have been formed in all district, he added.

"We have given certain guidelines to people. We have also included private hospitals. We have taken all precautionary measures to stop the virus from entering the state," he added.

In response to a question regarding masks, the Minister clarified that those who have the symptoms of the disease only should use them.

He said, "N95 masks are required only for those who have tested positive, there is not even a single positive case in the state so far...surgical masks that will have three layers can be used by those who have symptoms like cough, cold, fever."

In the state as a precautionary measure 2,500 beds have been kept ready if the situation arises, despite not having a single case.