RBI panel defers reserves report for fourth time

Agencies
June 24, 2019

New Delhi, Jun 24: A Reserve Bank of India (RBI) panel deciding on guidelines for transfer of the central bank’s surplus funds to the government has further delayed submitting its report, an official said on Monday.

The six-member panel, headed by Former RBI Governor Bimal Jalan, which was originally supposed to submit the report in April, delayed it for the fourth time due to lack of consensus.

The panel will submit the report after the federal budget in July, the official said.

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News Network
May 6,2020

Noida, May 6: Not having Aarogya Setu app on smartphone while out in public in Noida or Greater Noida will be considered a violaton of lockdown rules and the person will be punished.

Action will also be taken against people going outdoors without a face mask or spitting in public places, Gautam Buddh Nagar police said, news agency reported.

Aarogya Setu is a mobile application developed by the central government to connect essential health services with the people to fight Covid-19.

The app is aimed at augmenting the initiatives of the Centre, particularly the Department of Health, in proactively reaching out to and informing the users of the app regarding risks, best practices and relevant advisories pertaining to the containment of Covid-19.

"If smartphone users do not have the 'Aarogya Setu' app installed on their mobile phones, then that will be punishable and considered a violation of the lockdown directions," Additional Deputy Commissioner of Police, Law and Order, Ashutosh Dwivedi said.

The district police had on Sunday announced extending the Criminal Procedure Code section 144, which bars assembly of four or more people, till May 17, as the central government extended the nationwide lockdown by another two weeks in a bid to check the spread of the virus.

"Spitting in public places will attract punishment along with a fine. Not wearing a face mask in public places or offices will also be a punishable offence.

During the lockdown period, political, social, religious, sports gatherings as well as protest marches and rallies will remain banned across Noida and Greater Noida, the official said in the order.

"The central government has extended the lockdown till May 17 in view of the coronavirus pandemic. Gautam Buddh Nagar has been identified as 'red zone' and hotspots have been identified here. During this duration, all guidelines of the lockdown are to be followed," he said.

Gautam Buddh Nagar, which falls in the 'Red Zone', has 34 containment zones and has recorded 179 positive cases of coronavirus so far, with 102 of these patients being cured and discharged from hospitals, according to official figures.

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Agencies
February 26,2020

New Delhi, Feb 26: The death toll in northeast Delhi communal violence over the amended citizenship law rose to 20 on Wednesday, according to GTB Hospital authorities.

On Tuesday, the death toll was 13.

"The death toll has risen to 20 today," Medical Superintendent of GTB Hospital, Sunil Kumar, told PTI.

Earlier, at least four bodies were brought to the Guru Teg Bahadur Hospital from the Lok Nayak Jai Prakash Narayan Hospital, a senior official said.

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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