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The Reserve Bank of India is expected to keep policy rates unchanged till April, according to a report.

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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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MNS Demands Strict Enforcement of School Bus Policy After Seawoods Assault Case

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The Maharashtra Navnirman Sena (MNS) has called for immediate and strict implementation of the School Bus Policy 2011 across all schools in Navi Mumbai, following the alleged sexual assault of a 4-year-old student by a school bus driver at a reputed school in Seawoods.

In a meeting with the Sub-Regional Transport Officer, an MNS delegation, led by city president Gajanan Kale and student wing leader Sandesh Dongre, accused private schools of negligence and ignoring state-mandated transport safety norms. The party cited widespread regulatory lapses that continue to endanger student safety.

According to the School Bus Policy 2011, every school must form a transport committee that includes the principal, parent representatives, traffic and police officials, education department representatives, and bus contractors. This committee is responsible for verifying essential documents like vehicle registration, fitness certificates, permits, insurance, PUCs, and ensuring safety measures such as fire extinguishers and first-aid kits in every school transport vehicle.

The MNS also demanded a strict ban on unauthorized vehicles like private autos and taxis from operating within 100 meters of school gates. They stressed that school principals must be held directly accountable for the safety of all students using school-provided transport.

“If immediate action is not taken, the MNS will launch protests in its signature style,” warned the party. In response, Transport Officer Datta Sangolkar assured the delegation that school bus inspections will commence without delay.

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Bomb Threats to Mumbai-Ahmedabad Flight and Airport Spark Panic; No Explosives Found

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Panic gripped authorities on Wednesday afternoon after Navi Mumbai Police received two separate bomb threats. One caller claimed that a bomb had been planted on a flight from Mumbai to Ahmedabad, while the other warned of a blast at Mumbai’s international airport scheduled for 6:30 p.m.

The calls were received between 2:00 p.m. and 2:30 p.m., prompting immediate action from security agencies. The aircraft mentioned in the threat and various areas of the airport were thoroughly searched. Fortunately, no suspicious objects or explosives were found during the checks.

Navi Mumbai Police have treated the threats as serious hoaxes meant to spread fear and disrupt public order. An FIR has been registered under relevant sections of the Bharatiya Nyaya Sanhita, which deal with public mischief and causing alarm.

Investigators have already traced the phone numbers used to make the threatening calls and are working to identify and locate the individuals responsible. While no arrests have been made yet, the police have confirmed that a detailed probe is underway.

Authorities have assured the public that all safety protocols were followed and that air travel operations were not significantly affected.

The incident highlights the growing concern over fake threats, which not only cause public panic but also strain emergency response resources. Security forces remain on high alert, and further updates are expected as the investigation progresses.

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Labubu Rakhis Trending in Navi Mumbai Ahead of Raksha Bandhan

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With Raksha Bandhan just around the corner, markets in Navi Mumbai are witnessing a new trend—Labubu-themed rakhis. Inspired by the popular character from the Vietnamese digital art brand The Monsters, these quirky rakhis are becoming a hit among all age groups.

Labubu, known for its small body, big eyes, and unique expression, has gained widespread popularity on social media platforms like Instagram and TikTok. Originally appearing in animated clips and toy collections, the character has now found its way onto rakhis, making it the latest festive fashion statement.

Local vendors say demand for Labubu rakhis has skyrocketed, with many already selling out or accepting pre-orders. “More than half of our stock is gone, and customers are still asking for more,” said Bharat Rajpurohit, a rakhi seller.

Priced between Rs 200 and Rs 350, these rakhis feature miniature Labubu figures attached to colourful threads. Alongside them, traditional designs made with zari, pearls, peacock feathers, and kundan stones remain available, with prices ranging from Rs 50 to Rs 550. Cartoon-themed rakhis featuring superheroes, unicorns, Minions, and Tom & Jerry also remain favourites among children.

The popularity of Labubu rakhis reflects a growing trend of blending tradition with modern pop culture. As Raksha Bandhan continues to evolve, this year’s celebration is set to showcase a mix of heartfelt rituals and social media-driven style.

Vendors and buyers alike expect Labubu rakhis to remain the season’s top choice, adding a fun and fashionable twist to the age-old festival.

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