RBI cuts repo rate by 40 bps to 4 pc to increase credit flow

News Network
May 22, 2020

Mumbai, May 22: The Reserve Bank of India (RBI) on Friday reduced repo rate by 40 basis points to 4 per cent in an effort to further boost liquidity in the economy which has been reeling under the impact of COVID-19 induced countrywide lockdown.

As a result, the reverse repo rate stands at 3.35 per cent, said RBI Governor Shaktikanta Das. The six-member monetary policy committee (MPC) voted 5:1 in favour of the decision.

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. 

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News Network
November 17,2024

Mangaluru: District-in-Charge Minister and Minister for Health and Family Welfare, Dinesh Gundu Rao, announced that a day-care chemotherapy centre will soon be established at District Wenlock Hospital. Speaking to mediapersons after reviewing the activities at Wenlock and Government Lady Goschen Hospital, he shared the government’s plans to enhance healthcare services in the region.

Key Initiatives Announced

•    Day-Care Chemotherapy Centre:

  • Ten beds will be reserved for cancer patients.
  • The government will collaborate with Yenepoya Hospital to provide chemotherapy treatments.
  • All required facilities for the centre are already in place, awaiting inauguration by the Chief Minister.

•    Wenlock Hospital Facelift:

  • Critical Care Block: To be built at a cost of ₹24 crore.
  • Integrated Public Health (IPH) Lab: Planned with a budget of ₹1 crore.
  • New OPD Block: As per a 2017 agreement, KMC Hospital will take up construction. Discussions with KMC management are underway.

•    Additional Requirements:

  • A new mortuary and post-mortem building.
  • Paramedical college building.
  • Modern kitchen.
  • Bridge connecting two buildings within the hospital.

•    Total facelift cost: ₹6 crore to ₹10 crore, utilizing funds from the Department of Health and Family Welfare and CSR contributions.

•    Timeline:
By December or January, priority works will be finalized. The superintendents of Wenlock and Lady Goschen Hospitals are scheduled to visit Bengaluru next week to discuss these projects.

•    MRI Fee Allegations:
The minister assured that allegations of patients being charged for MRI scans at Wenlock Hospital will be resolved at the earliest.
These measures aim to improve healthcare accessibility and infrastructure, positioning Wenlock Hospital as a state-of-the-art facility in the region.

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News Network
November 28,2024

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Mangaluru, Nov 28: In a major breakthrough, police have arrested Rahul, alias Bol Karmaveer Eshwar Jat, a Haryana native, for a brutal train murder committed on October 25. Rahul, a notorious interstate serial offender, was apprehended after a relentless investigation involving multiple state police forces.

The October 25 incident occurred during a train journey when Rahul got into an argument over a cigarette with Mauzzam, a resident of Chikkaballapur. The altercation escalated, leading to Rahul strangling Mauzzam to death. He fled the scene with the victim’s mobile phone, bag, and cash.

Muazzan worked as a sales representative and was differently-abled. He boarded the train on October 24 from Yesvantpur and occupied the Divyang Coach. The incident came to light on the morning of October 25 at Udupi, where a railway guard found Muazzam unresponsive. The railway police immediately rushed him to the hospital, but doctors declared him dead.

Accused Rahul was tracked down through an exhaustive review of over 2,000 CCTV recordings by police teams from Valsad, Vapi, Surat, and Udvada. His identity was eventually confirmed by a vigilant officer from Surat Central Jail, leading to his capture in a joint operation by Railway and Surat police.

Rahul’s criminal record reveals a trail of horrifying offenses across Gujarat, Karnataka, Maharashtra, Telangana, Haryana, and West Bengal. Among these are the rape of a mentally ill minor girl in Pune and the rape and murder of a 19-year-old woman near Udvada railway station in Gujarat's Vapi district. Despite being arrested in the past, Rahul resumed his crimes after securing bail.

On November 19, he allegedly stabbed a 60-year-old man to death aboard the Katihar Express in West Bengal, with a case registered at the Howrah police station. In Telangana, he confessed to murdering a woman in yet another shocking crime.

Public Advisory:

  • Stay vigilant when traveling on trains, especially during late hours.
  • Report suspicious individuals or activities to railway authorities immediately.
  • Ensure your personal belongings are secure while traveling.
  • This arrest brings a sense of relief, but the investigations continue as authorities piece together the full extent of Rahul’s crimes.

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News Network
November 29,2024

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New DelhiI: The Supreme Court on Friday asked the Sambhal Shahi Jama Masjid committee to approach the Allahabad High Court and told the district court not to act until then upon a survey ordered on a claim of the mosque having built on a pre-existing temple.

A bench of Chief Justice of India Sanjiv Khanna and Sanjay Kumar directed Uttar Pradesh to maintain peace and harmony in the area, where four protesters were killed during the heavy stone pelting. The court also ordered the survey report of the advocate commissioner's report should be kept in sealed cover.

"We don't want anything to happen in the meanwhile...Let them (Shahi Jama Masjid committee) exercise appropriate remedies. We will keep this pending," the bench said.

Advocate Vishnu Shankar Jain, appearing for plaintiff Hari Shankar Jain and others submitted the next date of hearing has been fixed for January 8 before the civil judge (senior division).

Senior advocate Huzefa Ahmadi, appearing for the petitioner committee, contended the order is capable of great public mischief. He said as of 10 such suits are pending across the country where the survey is sought to be conducted.

"We hope and trust the trial court will not take any proceedings...We have not expressed any opinion on merits," the bench said, fixing the matter for consideration in the week commencing on January 6.

In case any revision application is filed, it should be heard within three days before the High Court, the bench ordered.

At the outset, the bench said it had some reservations with the order passed by the Civil Judge (senior division) on November 19.

The court told the Uttar Pradesh government represented by Additional Solicitor General K M Nataraj that the district administration has to remain neutral and maintain peace in the area.

The court directed the plaintiff not to file any papers.

It also ordered the advocate commissioner's report should be kept in a sealed cover.

The petitioner committee questioned the validity of the survey ordered within a short period, triggering violence in the area and leading to the death of four protestors.

The plea filed by the Committee of Management, Shahi Jama Masjid, Sambhal claimed "the hot haste" in which the survey was allowed and conducted all within a day and suddenly another survey was conducted after a couple of days with a notice of barely six hours that had given rise to widespread communal tensions and threatened the secular and democratic fabric of the nation.

The survey was ordered by a civil judge (senior division) on a suit filed by advocate Hari Shankar Jain and others.

According to the plaintiffs, Shahi Jama Masjid at Chandausi was built by Mughal emperor Babar in 1526 after demolishing the Shri Harihar temple.

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