Terror strike possibility cannot be ruled out, says Rajnath Singh

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.

Agra, Feb 25: The architectural grandeur of 17th century Taj Mahal and the story of its construction by Mughal Emperor Shah Jahan left US President Donald Trump "impressed" during his visit to the famed mausoleum, according to the guide who accompanied him.

Nitin Kumar, an Agra-based guide, said the first word the president said after laying his eyes on the marble marvel was "incredible".

He and First Lady Melania Trump visited on Monday the iconic Taj Mahal in Agra, the second stop on his little less than 36-hour-long trip of India, and marvelled at the Mughal-era mausoleum built as a monument of love.

After Dwight David Eisenhower (1959) and Bill Clinton (2000), he became the third US president to visit the architectural icon.

"I told them the story of the Taj Mahal, the construction, and the story behind it. President Trump got very emotional after knowing the story of Shah Jahan and his wife Mumtaz Mahal. How he was kept under house arrest by his own son Aurangzeb, and buried here at Taj, next to Mumtaz's grave, after his death," Kumar told reporters.

The couple was left speechless on the first sight of the monument, and showed interest when they were told about the history and architecture of the dome, and the design details, Kumar said.

"Melania Trump asked about the mud-pack treatment and was amazed when she got to know the details of the process," he said.

One of the most photographed sites in the world, it is always high on the itinerary of head of states visiting India.

The monument was built over a period of nearly 20 years by Shah Jahan in memory of his wife after her death in 1631.

"The Taj Mahal inspires awe, a timeless testament to the rich and diverse beauty of Indian Culture!' Thank You, India," the US President and First Lady jointly wrote in the visitors' book before signing it.

According to Mohammed Zafar, who lives close to Taj Mahal complex, Nitin has been conducting guided tours for many years. "He was selected for this VVIP visit," he said.

"Many people were taking selfies with him, after the end of the visit. So, many media persons interacted with him. He has got some instant fame of sorts," Zafar said.

Authorities at Archaeological Survey of India had "advanced the dates" for mud-pack treatment for the graves of Shah Jahan and Mumtaz Mahal at Taj Mahal in view of the US President Trump's visit to Taj, a senior official had earlier said.

Patna, July 1: A wedding ceremony in rural Patna a fortnight ago where the groom was running high fever, two days before he died and his body cremated without being tested for COVID 19, appears to have set off the biggest infection chain in Bihar so far, health department officials said on Tuesday.

More than 111 people have tested positive in Paliganj sub-division of Patna district, about 55 km from the state capital, in the last few days, out of over 350 who have been tested upon contact tracing, they said. Fifteen of his relatives who attended the wedding tested positive for the contagion and apparently infected others.

The officials, who requested anonymity, said the groom was a software engineer based in Gurugram and had returned home for his marriage in the last week of May. A few days after the ''tilak'' ceremony, he started showing symptoms of the disease.

On June 15, the date of wedding, he was running high fever and wanted the ceremony to be deferred, but relented upon the insistence of family members who made him swallow paracetamol tablets and go through the rituals.
On June 17, his condition deteriorated significantly and family members made a dash to AIIMS, Patna, but he died on the way.

The body was cremated in a huff, without the authorities being informed. But somebody telephoned the district magistrate and narrated the whole episode. All close relatives of the deceased, who attended the ceremony, were tested on June 19. Of them 15 tested positive, the officials said.

As a measure to contain the spread of the disease, a special camp was set up at the village where the marriage took place on June 24-26 during which samples of 364 people were collected. Of them, 86 tested positive, the officials added.

The sudden explosion of the dreaded coronavirus has triggered panic in the area. Although most who tested positive were asymptomatic, they have been admitted to isolation centres in Bihta and Phulwarisharif.

Block Development Officer Chiranjeev Pandey said Meetha Kuan, Khagari Mohalla and parts of Paliganj Bazaar have been sealed for thorough sanitisation.

Patna district happens to be the worst-affected in Bihar with 699 confirmed cases till date and five casualties, according to figures provided by the administration. The number of active cases is 372.

On Monday, when the state witnessed its biggest single day spike with 394 cases, Patna district accounted for more than 20 per cent of these. About eighty cases were reported from Paliganj alone.