Urjit Patel today kept Repo rate unchanged at 6.25 percent.
Reserve Bank of of India governor Urjit Patel today kept its key short-term lending rate, or repo rate, unchanged at 6.25 percent. The Reserve Bank’s 6-member Monetary Policy Committee unanimously decided to maintain status quo.
The Reverse repo rate, the Marginal Standing Facility, and the Bank Rate were also kept unchanged.
In its monetary policy review, the central bank also lowered its GDP growth forecast to 7.1 per cent for this fiscal, from the earlier 7.6 percent, due to short-term disruption in economic activities from demonetisation.
Headline inflation is projected at 5 per cent by the fourth quarter of 2016-17, with risks tilted to the upside, but lower than in the October policy review. The RBI said the impact of demonetisation should ebb with the progressive increase in the circulation of new currency notes and greater usage of non-cash based payment instruments in the economy.
The Reserve Bank also withdraw the 100 per cent incremental Cash Reserve Ratio from December 10. The move will allow banks to retain the deposits coming to them due to demonetisation.
Chief Economic Advisor Arvind Subramanian has termed the RBI decision to keep monetary policy rate unchanged as bold and brilliant.
Talking to reporters in New Delhi today, Mr Subramanian said, there is uncertainty, both in domestic and International market and the RBI’s decision will stablise the market.
He said, Internationally interest rates have gone up considerably after the US election and in India interest rate is coming down because of liquidity going into the Banking system.
PIA plane with 47 on board crashes
A Pakistan International Airlines (PIA) carrying 47 people crashed Wednesday on a domestic flight from the mountainous northern city of Chitral to Islamabad, aviation authorities confirmed.
“A plane has crashed and locals told us that it is on fire,” said Saeed Wazir, a senior local police official. “Police and rescue officials are on the way but have yet not reached on site.”
According Civil Aviation Authority officials, the ATR-42 turboprop plane with 47 passengers went missing from the radar near the town of Havelian in Abbottabad district of Khyber Pakhtunkhwa province while it was on its way to Islamabad.
The plane took off from Chitral around 3:00PM but communication with the control tower was broken around 4:30PM, shortly before it was about to arrive at its destination.
CAA sources confirmed a mayday call from the pilot to the control tower shortly before it lost communication with the plane.
“We regret to inform that PIA’s ATR-42 aircraft operating as PK-661, carrying around 40 persons lost its contact with control tower on its way from Chitral to Islamabad a short while ago. All resources are being mobilised to locate the aircraft. Media will be kept informed as situation develops,” said the PIA in a statement.
Eyewitnesses said they had seen a plane crash in a hilly area near Havelian, near the Ordinance factory. Clouds of smoke could be seen rising from the area of the reported crash.
Ground rescue teams had been sent to the area, sources said. The Inter-Services Public Relations said that army contingents and helicopters have also been dispatched for rescue operations.
Pictures from the area showed that the plane’s wreckage, which had scattered over a large area. Flames and smoke could also be seen rising from the wreckage.
According to a list of passengers issued by PIA, popular personality Junaid Jamshed and his wife were also on the ill-fated plane.
Jamshed, a former musician turned religious preacher and ‘naat-khwaan’, was in Chitral and his name was among the list of passengers on board the flight. According to list, Jamshed was on the seat 27-C.
Jamshed’s brother has confirmed that Jamshed was onboard the ill-fated plane.
Pakistan has had a poor air safety track record in recent years. Geo News
Both Houses of Parliament adjourned for the day over demonetisation
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Manoj Bajpai and Saiyami Kher inaugurates the second edition of Smile International Film Festival for children
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enkaysagar.wordpress.com – Manoj Bajpai and Saiyami Kher inaugurates the second edition of Smile International Film Festival for children and youth in Delhi! SIFFCY (Smile International Film Festival for Children & Youth) is…
Jayalalithaa C M demise, One day national mourning
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enkaysagar.wordpress.com – Deeply saddened at the passing away of Selvi Jayalalithaa. Her demise has left a huge void in Indian politics. Jayalalithaa ji’s connect with citizens, concern for welfare of the poor, the women & …
“Enhanced Collaboration between India and UAE will be fruitful in a new world order”
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enkaysagar.wordpress.com – India and the United Arab Emirates share close historical, cultural, economic and political ties. These historic ties entered the realm of a “strategic partnership” with the visit of Prime Minister…
Congress and BJP on FCRA violation.
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enkaysagar.wordpress.com – Foreign Funding: ADR writes to MHA and ECI, urges them to implement Delhi High Court’s ruling against Congress and BJP on FCRA violation. New Delhi: Association for Democratic Reforms (ADR) has wri…
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Sagar Media Inc- Both Houses of Parliament adjourned for the day over demonetisation
- As the logjam continued today in Parliament over demonetisation issue, both the Houses were adjourned for the day. When the Rajya Sabha reassembled this afternoon, the Opposition demanded the presence of Prime Minister Narendra Modi for the continuation of the demonetisation debate that was initiated on the first day of the Winter Session.However, Leader of the House Arun Jaitley said, as the Council of Ministers has collective responsibility, there is no rule or precedence that mandate Prime Minister to be present and listen to every member. He said the Opposition demand is unreasonable, though he assured that Prime Minister and he himself will intervene in the discussions. He said besides, the members will have the opportunity to seek clarifications after the reply.When the Lok Sabha reassembled at 2 pm, Parliamentary Affairs Minister Ananth Kumar said the discussion on demonetisation which had begun on Monday should resume.Jithendra Reddy of the TRS rose to speak and was obstructed by the Opposition. In the melee, the presiding officer Prahlad Joshi adjourned the House for the day.
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‘PUMA Becker’ shoes with Tennis Legend
You are cordially invited to attend the launch of ‘PUMA Becker’ shoes with Tennis Legend Boris Becker on December 16th, 2016 at 11.30 am at the PUMA store at Select City Walk.
Request you to kindly RSVP by replying on the mail.
We look forward to seeing you at the event.
Thanks & Regards,
Tanya Chaudhary
Associate Manager – Brand Communications
Associate Manager – Brand Communications
Madison Public Relations
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M: +91 9711973138| O: 011 40551634 E: tanya.chaudhary@madisonpr.in
India puts remote sensing satellite Resource sat-2A into orbit
Dec 7
India puts into orbit the remote sensing satellite Resource sat-2A successfully. The rocket took off majestically at 10.25 am today as per the schedule of Indian Space Research Organisation. ISRO Chairman A S Kiran Kumar said that it was exciting to watch the pictures of the launch through the latest cameras from the vehicle itself. The PSLV rocket is a four stage/engine powered by solid and liquid fuel alternatively.
India puts into orbit the remote sensing satellite Resource sat-2A successfully. The rocket took off majestically at 10.25 am today as per the schedule of Indian Space Research Organisation. ISRO Chairman A S Kiran Kumar said that it was exciting to watch the pictures of the launch through the latest cameras from the vehicle itself. The PSLV rocket is a four stage/engine powered by solid and liquid fuel alternatively.
According to the ISRO, Resourcesat-2A is a follow on mission to Resourcesat-1 and 2, which were launched in 2003 and 2011 respectively. The new satellite Resourcesat-2A intends to continue the remote sensing data services to global users provided by the earlier two. We have a report:
The PSLV-XL variant rocket standing 44.4 metres tall and weighing 3201 ton rose into the morning skies with fierce orange flames thrusting it to the skies.It was a rare glimpse as the view was blocked by the clouds but again showed up for a few seconds with a loud roar. Todays venture of ISRO has a proven technology which puts it alongwith nine other countries in the world.
The satellite also carries two Solid State Recorders with a capacity of 200 Giga Bits each to store the images taken by its cameras which can be read out later to ground stations.The mission life of Resourcesat-2A is five years.These cameras will send clear and specific pictures of areas where exactly the various resources are located at an indepth level.
Guwahati-bound Capital Express train derails.
#BREAKING Guwahati-bound Capital Express train derails. Helpline numbers: 9002052957, 8585082833 & 03564-259935: Two Killed as Capital Express TrainDerails and At least two people died and 10 people were injured when two coaches and the engine of Guwahati-bound Capital Express from Bihar’s Rajendra Nagar Terminal derailed in North Bengal on Tuesday night.
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