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RBI credit policy: Home loans may get cheaper

June 18, 2012
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New Delhi, June 18: The Indian stock markets on Monday are expected to react positively to the Greece results and also domestic factors. The Reserve Bank of India will announce its mid-term credit policy review on Monday.

Majority of bankers and economist polled by CNBC-TV18 say that the RBI will cut repo rate and reverse repo rate by 25 basis points. This means home loans could become cheaper.

Cash reserve ratio may remain unchanged at 4.75 per cent and the repo rate, which is the rate at which the RBI lends to banks, is currently at 8 per cent. The reverse repo rate at which the RBI borrows from banks is currently at 7 per cent.

Finance Minister Pranab Mukherjee has also expressed confidence that the central bank would "adjust the monetary policy" to address the challenges before the economy.

Most experts feel that more or less the market has already factored in 25 basis points cut in both repo rate (at which banks borrow money from RBI) and cash reserve ratio, the portion of deposits that banks are required to keep with the Reserve Bank.

According to Kishor Ostwal, CMD, CNI Research, "Rate cut looks certain as the economy is going through tough patches. The next resistance for Nifty is at 5,155 which is very near and if this is crossed on Monday we may see Nifty rising to 5,280 to 5,300 very fast."

Meanwhile, Angel Broking said in a report, "Global developments in Greece, Spain and the euro-zone summit will keep markets volatile in June."

Meanwhile, the BSE 30-scrip benchmark Sensex gained for the second consecutive week by adding another 231 points on expectations that RBI will cut interest rates at its mid-quarterly monetary policy review on Monday to prop up a slowing economy.

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News Network
May 3,2020

New Delhi, May 3: Union Health and Family Welfare Minister Dr Harsh Vardhan on Sunday said that India's COVID-19 mortality rate of 3.2 per cent is the lowest in the world and over 10,000 coronavirus patients have been discharged from hospitals after recovering from the disease so far.

"Today more than 10,000 COVID-19 patients have been discharged. Those still admitted at hospitals are on the road to recovery. If in last 14 days doubling rate was 10.5 days, then today it is around 12 days," the Minister told ANI after visiting Lady Hardinge Hospital.

"Our mortality rate of 3.2 per cent is the lowest in the world," he said.

With 2,644 more COVID-19 cases and 83 deaths in the last 24 hours, the number of people infected from coronavirus in the country has reached 39,980 including 1,301 deaths, said the Union Ministry of Health and Family Welfare on Sunday.

Currently, there are 28,046 active cases while 10,633 COVID-19 positive patients have been cured/discharged.

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Agencies
August 6,2020

New Delhi, Aug 6 : With a single-day spike of 56,282 new COVID-19 cases and 904 deaths in the last 24 hours, India's COVID-19 tally reached 19,64,537 on Thursday.

With the increase of 904 deaths, the toll due to the disease now stands at 40,699 in the country, according to the Union Ministry of Health and Family Welfare (MoHFW).

The COVID-19 count includes 5,95,501 active cases and 13,28,337 cured/discharged/migrated patients.

Meanwhile, as per the MoHFW, the percentage of discharged patients stands at 67.62, while the active cases are at 30.31 in the country as of today.

The deaths reported due to the infection are currently at a little above two per cent of the total confirmed cases in the country.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Andhra Pradesh with 80,426 active cases is the third on the list. There are 1,04,354 cured and discharged patients and 1,681 deaths reported from the state.

The national capital's active cases tally once again crossed the 10-thousand mark with 175 new cases being reported. Delhi now has 10,072 active cases and 1,26,116 cured and discharged patients. 4,044 people have lost their lives due to the disease in the Union Territory so far.

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News Network
January 31,2020

Jan 31: President Ram Nath Kovind on Friday hailed the contentious Citizenship Amendment Act as "historic" in his address to joint sitting of both houses of Parliament, prompting protests by some opposition members.

He also said that debate and discussion on any issue strengthens democracy while violence during protests weaken it.

"The Citizenship Amendment Act is a historic law. It has fulfilled wishes of our founding fathers including Mahatma Gandhi," he said.

"Debate and discussions strengthen democracy, but violence during protests weaken democracy," he said without directly referring to the anti-CAA protests in the country some of which have witnessed violence.

In a reference to abrogation of Article 370, Kovind said there is happiness among people of India that people in Jammu and Kashmir and Ladakh have got rights on par with the rest of the country.

The president said Parliament has created record in the first seven months of the new government headed by Narendra Modi by enacting several landmark legislations.

"My government is taking strong steps for making this decade as India's decade and this century as India's century," he said.

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