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The Reserve Bank of India is expected to keep policy rates unchanged till April, according to a report.
The Monetary Policy Committee (MPC), the RBI’s rate-setting panel, will begin deliberations on Monday and announce policy decisions on Wednesday.
Almost all major central banks are raising interest rates to combat inflation. The Reserve Bank of Australia will keep rates steady, according to US brokerage Bank of America Securities.
After the Budget declared record borrowing intentions for the coming fiscal year, India’s benchmark 10-year bond yields are approaching 6.9%. The entire domestic and external climate, according to analysts at Edelweiss Brokerage, is unfavourable for the bond market.
Bank of America (BofA) analysts believe the MPC will keep rates steady when it releases its final policy review of the fiscal year on February 9. After the Budget disclosed a record borrowing plan, the market expected a 25 basis point reverse repo tightening.
India’s fiscal deficit is predicted to decline from 6.9% in FY22 (up 10 basis points from the revised projection) to 6.4 per cent in FY23. The enormous expenditure push at the expense of fiscal reduction is the budget’s main centrepiece for FY23.
Revenue spending, net of interest payments and subsidies, is forecast to increase by only 1% in FY23, while capital expenditures are expected to increase by 24%, implying more supply-side spending rather than a large demand boost, and hence no serious inflation pressure.
Given all of this, the RBI is expected to leave rates steady next Wednesday, even though the pandemic is still ongoing.
According to Bank of America Merrill Lynch, the first tightening step is anticipated to come in April or June. The RBI has started selling bonds after being a strong buyer in the first half, resulting in a large demand-supply mismatch and a surge in yields. It did so in the expectation that the government would enable local bonds to be included in international indices, but it has yet to do so.
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Legacy of Learning: Education Pioneer Padma Shri Dr. D. Y. Patil Passes Away at 90
From establishing premier universities to serving as Governor, the visionary founder leaves behind an indelible mark on Indian education.
The Demise
Dr. Dnyandeo Yashwantrao (D. Y.) Patil, a pioneering force in India’s higher education landscape and former Governor, passed away in Kolhapur at the age of 90.
Affectionately honored as “Shikshanmaharshi” (Grand Teacher), Dr. Patil transformed access to professional education over a career spanning several decades. Through the D Y Patil Group, he established over 150 institutions including top medical colleges, engineering institutes, and deemed universities across Navi Mumbai, Pune, Kolhapur, and Mumbai.
His immense contributions to education and healthcare earned him the prestigious Padma Shri in 1991. Beyond academia, Dr. Patil was an influential figure in public administration, serving as a Maharashtra MLA and later as Governor of Tripura, Bihar, and West Bengal. His vision also brought world-class sports infrastructure to Navi Mumbai with the iconic D Y Patil Stadium.
Tributes have poured in from political leaders, academics, and citizens nationwide, honoring a leader whose legacy endures through the millions of students educated across his institutions.
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Commuters Left Stranded as NMMT Bus Breakdowns Surge During Peak Hours
Frequent mechanical failures and poor fleet maintenance trigger severe delays across Navi Mumbai, leaving daily passengers frustrated.
Breakdown
Daily travel has turned into a chaotic trial for thousands of residents as a wave of municipal bus breakdowns continues to disrupt peak-hour commutes across the region.
Passengers relying on the Navi Mumbai Municipal Transport (NMMT) network which ferries over 2.5 lakh commuters daily across Navi Mumbai, Thane, Mumbai, and Kalyan-Dombivli face persistent delays, missed connections, and dangerously overcrowded buses.
The frequency of breakdowns has sparked sharp concerns regarding passenger safety. Civic activists and groups like the Airoli Citizens’ Forum have formally escalated the crisis to senior NMMC officials, citing unaddressed maintenance lapses like faulty braking systems, worn tires, and sudden engine failures mid-route. Transit officials attributed the breakdown surge to technical snags worsened by rain and severe negligence by the private maintenance contractor.
In response to public outcry, authorities have blacklisted the failing contractor and handed maintenance back to original vehicle manufacturers, promising fleet reliability will improve in the coming days.
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Citizens Lose ₹68 Crore Across 178 Reported Cases
Spike in investment schemes and fake “digital arrests” leaves residents reeling as police push for faster reporting.
Cyber Crime Surge
A sharp surge in digital scams has siphoned off a staggering Rs 68 crore across 178 reported cases, highlighting the aggressive tactics used by cybercriminals.
Fraudsters are relying on high-yield online investment traps, fake job promises, and high-pressure “digital arrest” schemes where impostors pose as law enforcement officers over video calls to extort money. Senior citizens have been hit especially hard, often losing life savings in minutes.
A primary challenge for police is the speed at which funds are funneled through networks of secondary accounts and converted into cryptocurrency, leaving law enforcement able to recover only a fraction of the stolen money. Police urge the public to remember that no government agency conducts online arrests or demands money over video calls.
If targeted, report the crime immediately to the national helpline 1930 or at cybercrime.gov.in. Calling within the “golden hour” remains the single best chance to freeze funds before they disappear.
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