LIVE
Fri, 20 September 2013
Live! Pakistan to free Taliban commander Baradar tomorrow
Timeline Refresh
23:20 Pakistan to free Taliban commander Baradar tomorrow
Pakistan today announced it will release former Afghan Taliban deputy chief Mullah Abdul Ghani Baradar tomorrow, meeting a long-standing demand of Afghan President Hamid Karzai.
"In order to further facilitate the Afghan reconciliation process, the detained Taliban leader, Mullah Abdul Ghani Baradar, would be released tomorrow," said a brief statement issued by Pakistan's Foreign Office this evening.
22:13 V K Singh's lawyer questions legal sanctity of Army report
Former Army Chief Gen V K Singh's lawyer today raised questions over the legal sanctity of the Army report which has recommended a CBI probe into allegations of misuse of intelligence funds and the functioning of a secret intelligence unit set up by him.
The Board of Officers' report of the Army has alleged misuse of position by Singh and unauthorised operations and financial wrongdoing by the intelligence unit named Technical Support Division.
22:12 Modi's magic won't work in Assam: Gogoi
Assam Chief Minister Tarun Gogoi today said "the magic" of Narendra Modi will not work here as people believe in secularism only. "Their political philosophy is based on religion.
On the other hand, Assam is a land of saints like Sankardeva, Madhabdeva and Ajan Fakir, who preached real secularism and people have been practising this irrespective of caste, creed and religion for years," Gogoi said.
21:18 BJP chief to visit riot-hit Muzaffarnagar tomorrow
BJP President Rajnath Singh will visit the riot affected areas of Muzaffarnagar tomorrow and meet the family members of the journalist and two Jat youths killed during the initial phase of the violence that has left 43 people dead.
Singh will visit the residence of Rajesh Verma, the IBN7 stringer who was killed while reporting on the riots, and meet his family members, BJP media convener Shrikant Sharma said.
Singh will visit the residence of Rajesh Verma, the IBN7 stringer who was killed while reporting on the riots, and meet his family members, BJP media convener Shrikant Sharma said.
21:16 Pak to release former Afghan Taliban deputy chief Mullah Barada
Pakistan to release former Afghan Taliban deputy chief Mullah Baradar tomorrow, said its foreign office.
21:07 2 cops suspended after IM suspect escapes from custody
Two policemen have been suspended today after Afzal Usmani, a suspected member of terror group Indian Mujahideen and
accused of serial bomb blasts in Gujarat in which at least 50 people
were killed and 200 were injured, escaped this afternoon from a court in
Mumbai.
20:56 At times you will have to wear a topi, at times a tilak: Nitish's dig at Modi
NDTV reports: Bihar Chief Minister is delivering a lecture in Delhi on 'The Idea of India' at a function presided over by Minority Affairs Minister K Rahman Khan.Here is what he said."Today Muzaffarnagar, or before that Bhagalpur or Gujarat, such incidents are a blot. Constant vigil is the only way to prevent such incidents.'"
"You set up industry, the GDP will increase but how do people benefit? You have to be worried about health, education etc.To run the country, you have to take everyone along. At times you will have to wear a topi... at times a tilak," he said.
"You set up industry, the GDP will increase but how do people benefit? You have to be worried about health, education etc.To run the country, you have to take everyone along. At times you will have to wear a topi... at times a tilak," he said.
18:51 Live! IPL scam: Meiyappan, Vindoo charged with cheating, conspiracy, NOT spot-fixing
The chargesheet by Mumbai Police in the IPL spot-fixing case names 22 accused including BCCI chief N Srinivasan's son-in-law Gurunath Meiyappan and Vindoo Dara Singh.
The chargesheet accessed by CNN-IBN does not mention any instance of spot-fixing in the IPL matches.
Sources say all 22 accused have been charged with cheating, gambling, conspiracy and forgery.
The chargesheet says there is evidence of betting, based on certain transactions and audio conversations.
Sources also say evidence against Pakistani Asad Rauf who is accused in the case will not be detailed in this chargesheet. Pakistani bookies need to be identified while actual identities and further linkages need to be investigated, add sources.
The chargesheet accessed by CNN-IBN does not mention any instance of spot-fixing in the IPL matches.
Sources say all 22 accused have been charged with cheating, gambling, conspiracy and forgery.
The chargesheet says there is evidence of betting, based on certain transactions and audio conversations.
Sources also say evidence against Pakistani Asad Rauf who is accused in the case will not be detailed in this chargesheet. Pakistani bookies need to be identified while actual identities and further linkages need to be investigated, add sources.
18:36 CAD to be financed without drawing much from reserves: Rajan
Reserve Bank Governor Raghuram Rajan today exuded confidence that the country will be able to finance the current account deficit without drawing down much from the forex reserves.
"We are fairly confident that we can finance this year's CAD without a substantial draw down in the reserves," Rajan said after his first monetary policy review.
"We are fairly confident that we can finance this year's CAD without a substantial draw down in the reserves," Rajan said after his first monetary policy review.
18:31
Two persons arrested in connection with Hyderpora attack on army on June 24, IGP Kashmir Abdul Gani Mir.
18:24 Supriya Sule turns down visit with President Pranab
External Affairs Ministry has nominated Sharad Pawar's daughter -- NCP MP Supriya Sule -- to accompany President Pranab Mukherjee on his state visits to Turkey and Belgium. Sule, however, has declined owing to upcoming poll campaigns. GK Vasan, Shipping Minister, will be Union Minister in waiting for the President during the six-day visit.
18:12 Adultery falls behind bad behaviour as leading grounds for divorce
In other stories: Major new study looks at trends in divorce over the past 40 years. Read
18:10
"MoD says NO CBI enquiry into Gen VK Singh matter. Then who will? MI? IB? Who themselves do not have legal sanction," tweets NDTV's Nitin Gokhale.
18:07 BJP to distance itself from VK Singh
Senior leaders of the BJP have decided to distance themselves from former Army chief General VK Singh as they feel the credibility of the party may get affected.
An Indian Express report today claimed VK Singh had set up a special unit in the army which tried to topple the Jammu and Kashmir Government.
Singh today said that he would react to the report after discussions with his legal team.
The BJP has claimed that Singh is being targeted by the UPA Government for sharing the dais with BJP prime ministerial candidate Narendra Modi at a recent rally in Rewari, Haryana.
An Indian Express report today claimed VK Singh had set up a special unit in the army which tried to topple the Jammu and Kashmir Government.
Singh today said that he would react to the report after discussions with his legal team.
The BJP has claimed that Singh is being targeted by the UPA Government for sharing the dais with BJP prime ministerial candidate Narendra Modi at a recent rally in Rewari, Haryana.
18:03 Six Seemandhra ministers to resign on September 24
On September 24, the Union Cabinet note will be be ready with its four-para note on Telangana and will initiate the process for the adaption of the resolution for creating the state.
The Cabinet resolution will bring to fruition a long-term strategy by the Group of Ministers to create Telangana.
But the resolution will not commit or resolve the revenue borders for Telangana, which is why six union ministers from Seemandhra have decided to resign.
The Cabinet resolution will bring to fruition a long-term strategy by the Group of Ministers to create Telangana.
But the resolution will not commit or resolve the revenue borders for Telangana, which is why six union ministers from Seemandhra have decided to resign.
17:50 'Her father does dirty things to her'
"In the year 2000 I moved from my secure, joint-family, small-town setting to become a student of a reputed college in New Delhi '" raring to go, promising to make the best of hostel life and continuing wide-eyed in this big city with flyovers, McDonald's and something called pubs.
"I was not prepared to hear what I heard."
Read the blog on sexual abuse
"I was not prepared to hear what I heard."
Read the blog on sexual abuse
17:41 There's special coffee brewing for visitors to the PMO
Our sources in Delhi tell us that visitors to the Prime Minister's Office are being served beverages from Barista and Cafe Coffee Day from this month on, a huge step up from the Indian Railways canteen. This decision to hand over the catering to the private sector has surprised many.
17:29 Civil nuclear projects to be subject to Indian laws: NSA
Civil nuclear projects in the country would be subject to Indian laws including on issues of civil liability, National Security Adviser Shivshankar Menon said today dismissing reports of attempts to dilute the liability clause in contracts proposed with US firms.
"I was surprised yesterday to see stories that somehow Indian law will not be applicable to nuclear projects in India. Civil nuclear projects in Indian would naturally be subject to Indian laws including civil liability," he said in his address at a think tank in Delhi.
Menon's views assume significance in the context of a huge controversy over media reports that the government was trying to dilute the nuclear liability clause in deals with American nuclear firms for buying reactors during Prime Minister Manmohan Singh's Washington visit next week.
"I was surprised yesterday to see stories that somehow Indian law will not be applicable to nuclear projects in India. Civil nuclear projects in Indian would naturally be subject to Indian laws including civil liability," he said in his address at a think tank in Delhi.
Menon's views assume significance in the context of a huge controversy over media reports that the government was trying to dilute the nuclear liability clause in deals with American nuclear firms for buying reactors during Prime Minister Manmohan Singh's Washington visit next week.
17:17 Farewell, Mr Mario former Nintendo head Hiroshi Yamauchi dies
In other news: He was known as "the godfather of the console", building the Japanese firm Nintendo from a playing cards manufacturer into one of the world's most powerful computer games businesses.
Now the gaming industry is paying tribute to the company's former president, Hiroshi Yamauchi, who died on Thursday at 85. Read
Now the gaming industry is paying tribute to the company's former president, Hiroshi Yamauchi, who died on Thursday at 85. Read
17:16 First arrest in Muzaffarnagar riots: BJP MLA held, taken to undisclosed location
BJP MLA Suresh Rana has been arrested in the Muzaffarnagar riots case. He is the first politician to be arrested for making hate speeches.
Arrest warrants have also been issued against a BSP MP and MLA, besides several politicians and senior community leaders for allegedly inciting violence through inflammatory speeches in Muzaffarnagar.
The arrest warrants have been issued against 16 politicians and community leaders including BSP MP Qadir Rana, BJP MLAs Sangeet Som and Bhartendu Singh, BSP MLAs Noor Saleem and Maulana Jameel, Congress leader Saeeduzaman and BKU chief Naresh Tikait, police said.
Arrest warrants have also been issued against a BSP MP and MLA, besides several politicians and senior community leaders for allegedly inciting violence through inflammatory speeches in Muzaffarnagar.
The arrest warrants have been issued against 16 politicians and community leaders including BSP MP Qadir Rana, BJP MLAs Sangeet Som and Bhartendu Singh, BSP MLAs Noor Saleem and Maulana Jameel, Congress leader Saeeduzaman and BKU chief Naresh Tikait, police said.
17:03 Tata Set to Take-Off Back into Aviation
After founding India's first airline in the 1930s, Tata, the country's largest conglomerate, has tried in vain for several years to re-enter aviation after their airline was nationalized in 1953.
On Thursday the conglomerate began taxiing to the runway ahead of a possible take-off in to the sector. Read
On Thursday the conglomerate began taxiing to the runway ahead of a possible take-off in to the sector. Read
17:00 India Struggles to Avoid Curse of Stagflation
As India continues to struggle with high inflation even as the economy slows, some worry it could be sliding toward a painful period of stagflation. Read
16:38 Live! Afzal Usmani -- IM terrorist with passion for car bombs -- escapes
Just in: Indian Mujahideen terror accused Afzal Usmani escapes while being taken to a Mumbai court. Usmani is an accused in the 2008 Ahmedabad blasts case.
Indian Mujahideen's "favourite toy" cars that can be used as bombs is what got Afzal Mutalib Usmani (32) into trouble. Read the report on the Indian Express.
Indian Mujahideen's "favourite toy" cars that can be used as bombs is what got Afzal Mutalib Usmani (32) into trouble. Read the report on the Indian Express.
16:32 Narendra Modi heads to Delhi
Our sources in Delhi tell us that Gujarat Chief minister Narendra Modi will reach the capital at 4.30 pm today to meet TDP leaders. He is also expected to meet BJP president Rajnath Singh and review the progress being made in the party's War Room.
16:29 Live! CBI closes disproportionate assets case against Mulayam
The CBI has filed a closure report in the Rs 2.63 crore disproportionate assets case against SP supremo Mulayam Singh Yadav.
The CBI has submitted that it has failed to find any evidence that the SP chief held illegal assets despite investigating Mulayam and his son UP chief minister Akhileesh Yadav assets twice.
The CBI also said that Mulayam produced enough evidence to explain his assets.
The investigation was conducted at the apex court's instance.
The CBI has submitted that it has failed to find any evidence that the SP chief held illegal assets despite investigating Mulayam and his son UP chief minister Akhileesh Yadav assets twice.
The CBI also said that Mulayam produced enough evidence to explain his assets.
The investigation was conducted at the apex court's instance.
16:16 Isn't there a computer program for that?
Check the spelling, grammar, punctuation and facts. Then the subeditor's real work starts. Read
16:10
A British tourist has been trampled to death by an elephant in India, it has been reported. Read
16:04 'Deaths of people in the 2002 riots have not touched Modi even today'
Even as critical remarks against Narendra Modi by Kannada writer UR Ananthamurthy triggered a barrage of angry responses by the BJP, the Jnanpeeth-awardee reiterated his position that Gujarat Chief Minister and the party's prime ministerial candidate was "unfit' to lead the country. Read
16:00 Top 10 Raghuram Rajan quotes
Given where market conditions are, I wouldn't trust my Hindi: Raghuram Rajan. Read
15:33 CBI probe likely into functioning of 'secret unit' set up by V K Singh
The government is likely to order a CBI inquiry into the alleged unauthorised operations and financial wrongdoings by a top secret intelligence unit set up by then Army chief Gen V K Singh.
Sources said that the government has taken serious note of the report of a board of inquiry into the functioning of Technical Support Division (TSD) alleging misuse of position by Gen Singh and is likely to order a CBI probe into the matter soon.
Information and Broadcasting Minister Manish Tewari told reporters here today that the facts brought out in the report are "extremely sensitive" and if any person- retired or serving -is found involved in the matter, action will be taken.
"The contents of the report which have been mentioned in a newspaper are under active consideration of the government. If any malfeasance is found against any serving or retired officer, appropriate action would be initiated.
"...The government has also put in place measures to ensure that there is never ever a repeat of some of the things which have allegedly been mentioned in the report," Tewari said.
Sources said that the government has taken serious note of the report of a board of inquiry into the functioning of Technical Support Division (TSD) alleging misuse of position by Gen Singh and is likely to order a CBI probe into the matter soon.
Information and Broadcasting Minister Manish Tewari told reporters here today that the facts brought out in the report are "extremely sensitive" and if any person- retired or serving -is found involved in the matter, action will be taken.
"The contents of the report which have been mentioned in a newspaper are under active consideration of the government. If any malfeasance is found against any serving or retired officer, appropriate action would be initiated.
"...The government has also put in place measures to ensure that there is never ever a repeat of some of the things which have allegedly been mentioned in the report," Tewari said.
15:28 Muzaffarnagar riots: Row after UP minister asks BJP MLA to 'shut up'
A political squabble over the Muzaffarnagar communal clashes, which left nearly 50 dead and 40,000 in relief camps, had legislators coming to blows in the Uttar Pradesh assembly today after a state minister asked an MLA to "shut up". Read
15:25 India Inc disappointed and surprised by Rajan's maiden policy
India Inc was left surprised and disappointed after the RBI on Friday raised short-term rates. It had been lobbying for a rate cut to provide a much needed impetus to slowing growth. Read
15:23
Woman molested at Lalbaugcha Raja's visarjan procession. Read the horrifying report on Mid Day.
15:22 Live! 'There is no end game for India in Afghanistan'
National Security Advisor Shiv Shankar Menon tweets on the signing of nuke commerce: We are close to signing, on civil liabilities we are going to address all questions. We have had attacks on our missions in Afghanistan, we know where they are coming from, we know how to deal with them. Frankly, for India, there is no 'end game' in Afghanistan.
14:53 UP CM was 'masterly inactive' during riots: Jairam Ramesh
"I am absolutely shocked, disappointed, angry at his (Akhilesh's) masterly inactivity on Muzaffarnagar. Cynical, absolutely cynical, what he has done," Rural Development Minister Jairam Ramesh told PTI in an interview.
"I am not accusing Akhilesh Yadav of engineering the riots. I am accusing Akhilesh Yadav of sleeping when the riots were happening," he said when asked whether the UP Chief Minister had failed to fulfill his "raj dharma" like Modi during the 2002 riots in Gujarat.
"I am not accusing Akhilesh Yadav of engineering the riots. I am accusing Akhilesh Yadav of sleeping when the riots were happening," he said when asked whether the UP Chief Minister had failed to fulfill his "raj dharma" like Modi during the 2002 riots in Gujarat.
14:50 UP CM was 'masterly inactive' during riots: Jairam Ramesh
In a scathing attack on Uttar Pradesh Chief Minister Akhilesh Yadav, Congress leader and Union Minister Jairam Ramesh today accused him of being "masterly inactive" over Muzaffarnagar riots and adopting a "cynical strategy" of believing that it would divide voters.
He alleged that there was an "unholy alliance" between ruling Samajwadi Party with BJP that allowed violence to continue earlier this month.
He alleged that there was an "unholy alliance" between ruling Samajwadi Party with BJP that allowed violence to continue earlier this month.
14:38 DA case: Jagan's judicial custody extended till Oct 3
A special CBI court here today extended till October 3, the judicial remand of YSR Congress chief Y S Jaganmohan Reddy and others accused in connection with an alleged disproportionate assets case against the Kadapa MP.
14:29 Live! MoD reacts to IE story: Report impinges on internal security
The defence ministry reacts to the Indian Express report on former army chief VK Singh. "Have received a report from the Army on certain issues relating to one of its sectors," says the MoD.
The defence ministry says the report impinges on matters of internal security. "The government will take a decision after careful consideration and evaluation of the matter. The government has measures in place to prevent undesirable activities," says a statement from the MoD.
The defence ministry says the report impinges on matters of internal security. "The government will take a decision after careful consideration and evaluation of the matter. The government has measures in place to prevent undesirable activities," says a statement from the MoD.
14:14 Lending, deposit rates to go up ahead of festive season: SBI
Soon after unveiling of the Reserve Bank's mid-quarter policy review, country's largest lender SBI today said lending and deposit rates will go up in view of the festive season demand.
"Now the busy season has started so there is a huge credit demand and banks are scrambling for deposits. Deposit rate, I think, will go up and accordingly to that lending rates can also go up," SBI Chairman Pratip Chaudhuri said here.
Banks would first raise the deposit rates and then they will calibrate the lending rate, he added.
"Now the busy season has started so there is a huge credit demand and banks are scrambling for deposits. Deposit rate, I think, will go up and accordingly to that lending rates can also go up," SBI Chairman Pratip Chaudhuri said here.
Banks would first raise the deposit rates and then they will calibrate the lending rate, he added.
14:01
An absolutely fantastic effort to map the number of toilets in India. Have a look.
13:48 All that you wanted to know about Jhumpa Lahiri's latest...
Jhumpa Lahiri first made her name with quiet, meticulously observed stories about Indian immigrants trying to adjust to new lives in the United States, stories that had the hushed intimacy of chamber music. The premise of her new novel, The Lowland, in contrast, is startlingly operatic. Read
13:44
India's Women: The Mixed Truth. Amartya Sen's column on the New York Review of Books. Read
13:38 Action against VK Singh NOT political vendetta: Rashid Alvi
Congress leader Rashid Alvi on Friday quashed allegations that the enquiry ordered against former army chief General VK Singh was part of a political vendetta.
"Government will decide if inquiry will be conducted or not," Alvi said.
"People want to know if he (Singh) was doing it on his own or any political party was behind it," he added.
Meanwhile, reacting to reports, SP leader Naresh Agarwal said: "Government must stop people who have been at top positions from entering politics after retirement."
"Government will decide if inquiry will be conducted or not," Alvi said.
"People want to know if he (Singh) was doing it on his own or any political party was behind it," he added.
Meanwhile, reacting to reports, SP leader Naresh Agarwal said: "Government must stop people who have been at top positions from entering politics after retirement."
13:35 'No regrets' says man who killed daughter, beheaded her friend for 'family honour'
Two days after a girl was lynched by her own family and a boy publicly beheaded, a conspiracy of silence is heavy in Haryana's village Gharnavati, 80 km from the capital.
As police personnel roam the village, no one is willing to talk or testify against the girl's parents and uncle, who are now in jail. Her brother was arrested today. Read
As police personnel roam the village, no one is willing to talk or testify against the girl's parents and uncle, who are now in jail. Her brother was arrested today. Read
13:32
The Reserve Bank of India today fixed the reference rate of rupee against US dollar at 62.2430 and the euro at 84.2295 as against 61.7480 and 83.5460 yesterday.
13:07 Live! Ex-Army chief to 'explore legal options' over Indian Express report
Former Army chief General VK Singh says he will be exploring legal options over the Indian Express report that claimed he had set up a special unit
in the army which tried to topple the Jammu and Kashmir Government.
The report claims that a secret Board of Officers inquiry has recommended that the CBI look into the matter. motion.
Singh today said that he would react to the report after discussions with his legal team.
The BJP has claimed that Singh is being targeted by the UPA Government for sharing the dais with BJP prime ministerial candidate Narendra Modi at a recent rally in Rewari, Haryana. Read
The report claims that a secret Board of Officers inquiry has recommended that the CBI look into the matter. motion.
Singh today said that he would react to the report after discussions with his legal team.
The BJP has claimed that Singh is being targeted by the UPA Government for sharing the dais with BJP prime ministerial candidate Narendra Modi at a recent rally in Rewari, Haryana. Read
12:55 Gadkari's diamond necklace to Modi: NCP wants to know price tag
On the day when Narendra Modi was declared the BJP's choice for prime minister, his party's former president, Nitin Gadkari, allegedly gifted him a diamond and pearl necklace.
That's what Sharad Pawar's Nationalist Congress Party claims; it would also like to know the price tag. Read
That's what Sharad Pawar's Nationalist Congress Party claims; it would also like to know the price tag. Read
12:51 Dont waver now on nuclear liability
India's Civil Liability for Nuclear Damages Act, 2010 (the Act), was a watershed moment in international nuclear liability jurisprudence because of the unique way in which it dealt with supplier liability. Read the opinion piece on the Hindu
12:48 Separatists leaders under house arrest, curfew on in Shopian
Top separatist leaders were today placed under house arrest ahead of their march towards Shopian town in south Kashmir where curfew remained in force for the eight consecutive day following killing of five persons in CRPF firing earlier this month.
A senior police officer said chairman of moderate faction of Hurriyat Conference Mirwaiz Umar Farooq and several other leaders of his amalgam were placed under house arrest as a precautionary measure.
A senior police officer said chairman of moderate faction of Hurriyat Conference Mirwaiz Umar Farooq and several other leaders of his amalgam were placed under house arrest as a precautionary measure.
12:47 VK Singh in govt. dock for sharing dais with Modi: BJP
The BJP yesterday claimed that former
chief of army staff General VK Singh is being targeted by the UPA
Government for sharing the dais with BJP prime ministerial candidate
Narendra Modi at a recent rally in Rewari, Haryana.
BJP spokesperson Nirmala Sitharaman said the defence ministrys decision to order a probe against General (retired) VK Singh in connection with a media-based report that he had allegedly ordered a technical unit of the army to unseat the Jammu and Kashmir Government when he was in office, was completely unjustified.
General V K Singh is being hounded because he was seen by the side of Narendra Modi, said BJP spokesperson Nirmala Sitharaman.
She further said: We caution the government to look into this, as this will result in a complete trust deficit in army and demoralize the army.
Media reports have claimed that General V K Singh set up a special unit in the army which tried to topple the Jammu and Kashmir Government.
12:38 SC dismisses PIL challenging suspension of Durga Shakti Nagpal
In other news, just coming in, the Supreme Court has dismissed the PIL challenging the suspension of IAS officer Durga Shakti Nagpal.
After outrage over her suspension, the UP government has reportedly decided to revoke its decision but has instead transferred another official, whom it has laid the blame on for the demolition of a mosque wall.
After outrage over her suspension, the UP government has reportedly decided to revoke its decision but has instead transferred another official, whom it has laid the blame on for the demolition of a mosque wall.
After outrage over the suspension of Uttar Pradesh IAS official Durga Shakti Nagpal, the state government has reportedly decided to revoke its decision but has instead transferred another official, whom it has laid the blame on for the demolition of a mosque wall.
Read more at: http://www.firstpost.com/india/up-govt-set-to-revoke-ias-officer-durga-shakti-nagpals-suspension-1065827.html?utm_source=ref_article
Read more at: http://www.firstpost.com/india/up-govt-set-to-revoke-ias-officer-durga-shakti-nagpals-suspension-1065827.html?utm_source=ref_article
12:32 'We hiked repo rate as inflation pressures remain high'
More from RBI governor Raghuram Rajan at the press conference: "We hiked repo rate as inflation pressures remain high. Banks raised USD 1.4 billion in four days on the back of recent RBI measures and further reduction in CRR is not contemplated. Central bank does worry about growth; intent of policy today is to say cost of funding is too high." says Rajan.
12:28 The man who put the 'sex' back into the Sensex
This is what the BBC has on the RBI governor.
The new head of the Reserve Bank of India has been in the job for just a couple of weeks, but already Raghuram Rajan's looks have been talked about as much as his economic ideology.
He's been hailed in the press as some kind of good-looking guru, a monetary James Bond who's put the "sex" back into the Sensex, India's stock market. Read
The new head of the Reserve Bank of India has been in the job for just a couple of weeks, but already Raghuram Rajan's looks have been talked about as much as his economic ideology.
He's been hailed in the press as some kind of good-looking guru, a monetary James Bond who's put the "sex" back into the Sensex, India's stock market. Read
12:18 Rajan: Have taken a precautionary stance on inflation
RBI governor Raghuram Rajan addressing a press meet after the policy review, says, "We have taken a precautionary stance on inflation. The intention is to return to normal monetary operations. We intend to make the repo rate the effective policy rate. We have to worry about increasing oil prices."
Also read: Shobhaa De writes: Economy with Raghuram Rajan will be sizzling hot
Also read: Shobhaa De writes: Economy with Raghuram Rajan will be sizzling hot
12:10 Stock markets crash nearly 3 pc on RBI's hawkish policy
Stock markets today tanked by 2.7 per cent soon after the Reserve Bank's hawkish policy announcement in which it hiked the repo rate by 0.25 per cent.
The stock market barometer BSE Sensex, which was trading weak in the morning trade, crashed over 559 points or 2.7 per cent to 20,087.44 soon after the mid-quarter policy by RBI.
RBI Governor Raghuram Rajan in his maiden policy review, however, eased liquidity though the reduction in rate at which banks borrow by 0.75 per cent was lower than the expectation.
The repo rate or the short term lending rate has been increased by 25 basis points to 7.5 per cent from 7.25 per cent with immediate effect.
The National Stock Exchange's Nifty fell 2.48 per cent or 152 points to 5,963.65.
The forex market also reacted negatively and the rupee depreciated 69 paise to 62.46 to a US dollar.
The markets had soared to a three-year high yesterday after the US Federal Reserve unexpectedly left its stimulus programme unchanged, easing fears of capital outflows.
The stock market barometer BSE Sensex, which was trading weak in the morning trade, crashed over 559 points or 2.7 per cent to 20,087.44 soon after the mid-quarter policy by RBI.
RBI Governor Raghuram Rajan in his maiden policy review, however, eased liquidity though the reduction in rate at which banks borrow by 0.75 per cent was lower than the expectation.
The repo rate or the short term lending rate has been increased by 25 basis points to 7.5 per cent from 7.25 per cent with immediate effect.
The National Stock Exchange's Nifty fell 2.48 per cent or 152 points to 5,963.65.
The forex market also reacted negatively and the rupee depreciated 69 paise to 62.46 to a US dollar.
The markets had soared to a three-year high yesterday after the US Federal Reserve unexpectedly left its stimulus programme unchanged, easing fears of capital outflows.
11:46 Highlights of the RBI's monetary policy
Following are the highlights of RBI's mid-quarter monetary policy review:
* Key short-term lending rate (repo rate) hiked by 0.25 pc to 7.50 pc.
* Borrowing rate for banks reduced under MSF by 0.75 pc to 9.5 pc.
* Eases minimum daily liquidity maintenance of CRR to 95 pc from 99 pc.
* Maiden policy announcement by new RBI Governor Raghuram Rajan.
* Retains Cash Reserve Ratio (CRR) at 4 pc.
* Inflation worrisome, no room for complacency.
* WPI inflation will be higher than that projected for rest of the year.
* Economic growth trailing below potential.
* Pace of infrastructure project completion subdued, new projects' starts remain muted.
* Next monetary policy review on October 29.
* Key short-term lending rate (repo rate) hiked by 0.25 pc to 7.50 pc.
* Borrowing rate for banks reduced under MSF by 0.75 pc to 9.5 pc.
* Eases minimum daily liquidity maintenance of CRR to 95 pc from 99 pc.
* Maiden policy announcement by new RBI Governor Raghuram Rajan.
* Retains Cash Reserve Ratio (CRR) at 4 pc.
* Inflation worrisome, no room for complacency.
* WPI inflation will be higher than that projected for rest of the year.
* Economic growth trailing below potential.
* Pace of infrastructure project completion subdued, new projects' starts remain muted.
* Next monetary policy review on October 29.
11:34 EMIs unlikely to go up, RBI loosens norms for banks
The Indian rupee declined against the dollar ahead of the Reserve Bank of India's mid-quarter review of the monetary policy for 2013-14.
The RBI has now loosened monetary norms for banks, but EMIs are unlikely to go up. Nifty down by over 160 points.
The RBI has now loosened monetary norms for banks, but EMIs are unlikely to go up. Nifty down by over 160 points.
11:29 Live! Sensex tanks 500 points after Raghuram's policy review
So, Reserve Bank of India's new governor Raghuram Rajan's first policy review is underway. He is faced with the "impossible trinity" of a weak rupee, rising inflation and
slowing growth.
What we have so far: The RBI reduces borrowing rate for banks (MSF) by 0.75 per cent to 9.5 per cent. RBI eases minimum daily liquidity maintenance of cash reserve ratio (CRR) to 95 per cent from 99 per cent. Rajan says inflation is worrisome, there is no room for complacency.
Markets have tanked. Sensex down by 500 points.
What we have so far: The RBI reduces borrowing rate for banks (MSF) by 0.75 per cent to 9.5 per cent. RBI eases minimum daily liquidity maintenance of cash reserve ratio (CRR) to 95 per cent from 99 per cent. Rajan says inflation is worrisome, there is no room for complacency.
Markets have tanked. Sensex down by 500 points.
11:19 RBI hikes repo rates, home loan EMIs go up
Just in: RBI hikes repo rates by 0.25 per cent to 7.5 per cent.
Presenting his maiden monetary policy review RBI Governor Raghuram Rajan on Friday hiked short-term lending (repo) rate by 0.25 per cent to 7.5 per cent.
RBI has reduced borrowing rate for banks (MSF) by 0.75 per cent to 9.5 per cent. Details awaited.
11:02 Court terms ex-Army chief Gen V K Singh as 'nuisance'
Former Army Chief General V K Singh, facing criminal defamation charges,
was last month termed as a "nuisance" by a Delhi court which said his
presence creates a "ruckus" in the court room. Read
10:59
Rs 8 cr missing from unit set up by ex-chief V K Singh, Army tells MoD. Read the Indian Express report.
10:54 Live! Ex-Gen VK Singh under scrutiny foArmy recommends probe against ex-Gen VK Singh for 'unauthorised ops'
Days after sharing the dais with Gujarat Chief Minister and BJP PM candidate Narendra Modi, former Army chief General VK Singh is under scrutiny yet again. National daily 'The Indian Express' has claimed that General VK Singh set up a special unit in the Army which tried to topple the Jammu and Kashmir government.
The Indian Express report claims that a secret Board of Officers inquiry has recommended that the CBI looks into the matter. The report also claims that the unit set up by General VK Singh called the Technical Services Division (TSD), a part of Military Intelligence, tried to block General Bikram Singh's promotion. Read
The Indian Express report claims that a secret Board of Officers inquiry has recommended that the CBI looks into the matter. The report also claims that the unit set up by General VK Singh called the Technical Services Division (TSD), a part of Military Intelligence, tried to block General Bikram Singh's promotion. Read
10:45 Several wounded in Chicago park shooting
Chicago police are reporting that several people have been shot in a park in the city's Back of the Yards neighborhood. A police spokesman said investigators have not yet determined how many were shot in the park on the city's southwest side. He added it wasn't known if there were fatalities. Several ambulances had responded to the scene.
10:35 Bihar: Jawan killed in Maoist attack
A jawan of the Special Task Force was killed and two others were injured when Maoists fired at them in Bihar's Jamui district in the wee hours of Friday.
Superintendent of Police Jitender Rana told PTI that armed Maoists blew up a building by exploding bombs in Parasi village of the district.
When a STF patrol party was on its way to the incident site, the Maoists opened fire on them from a mountain top, and three STF jawans were critically injured.
10:35 Pakistan wants a bilateral series with India: Sethi
The BCCI might be keen on organising a tri-series involving Pakistan and Sri Lanka in India later this year, but Pakistan Cricket Board's caretaker Chairman Najam Sethi is more interested in reviving bilateral cricketing ties.
"We are more focused on having a bilateral series with India," said Sethi.
"We spoke about this when our chief operating officer went to India recently. I also plan to visit India next month to convince the BCCI about this," he told a news channel.
09:42 Former BCCI secretary Jaywant Lele passes away
Former secretary of the Indian Cricket Board, Jaywant Yeshwant Lele, passed away at his residence in Baroda following a massive heart attack on Thrusday night.
He was 75 and is survived by his wife, a son and a daughter.
The outspoken Lele, who served as the BCCI's assistant secretary and later took over the reins as the secretary when Jagmohan Dalmiya became the president of the International Cricket Council in 1996, had celebrated his 75th birthday on September 13, said former India stumper Nayan Mongia, who confirmed the news of his death.
03:54 UN must act on Syria next week: Kerry
The US today called on the UN Security Council to act next week on the use of chemical weapons in Syria, in the wake of a "definitive" report by the world body on the issue. "I would say to the community of nations, time is short.
Let's not spend time debating what we already know. Instead, we have to recognise that the world is watching to see whether we can avert military action and achieve through peaceful means even more than what those military strikes promise," US Secretary of State John Kerry told reporters.
03:05 Rohani tells NBC: We will never develop nuclear weapons
ranian President Hassan Rohani vowed on Wednesday that his government will never develop nuclear weapons, his strongest signal yet that he may be seeking a diplomatic thaw with the West after decades of acrimony.
In an interview with NBC News days before he travels to New York for a UN appearance, the new Iranian president also insisted that he has "complete authority" to negotiate a nuclear deal with the United States and other Western powers.
03:04 Mexico reels from tropical storms; will US be next?
While Mexico continues to reel from a pair of powerful tropical systems, a new threat is emerging in the Gulf of Mexico that could bring more flooding to the storm-battered nation as well as heavy rains to portions of the U.S. Gulf Coast this weekend.
Hurricane Manuel made landfall Thursday morning just west of Culican, Mexico, on the country's west coast, the U.S. National Hurricane Center reported.
02:35 Putin says he may seek 4th presidential term
President Vladimir Putin said today he may run for a fourth presidential term in 2018, confirming the expectations of most Russians and frustrating those now working to restore free elections in Russia.
If Putin runs and wins, it would keep him in power for about a quarter century and make him the nation's longest-serving leader since Soviet dictator Josef Stalin.
02:34 Iran minister, UN chief discuss nuclear issue
Iran's foreign minister and the UN Secretary-General Ban Ki-moon exchanged views today on the country's controversial nuclear program and its potential role in ending the Syrian conflict, two issues expected to dominate next week's annual gathering of world leaders at the United Nations.
Mohammad Javad Zarif, a former UN ambassador, returned to UN headquarters for the first time since he was named foreign minister by the country's new president, Hasan Rouhani, who will be making his first appearance at the General Assembly on Tuesday.
02:32 Rouhani's comments have been very positive: Kerry
Iranian President Hassan Rouhani's recent comments, including the one that his country will not develop nuclear weapons, have been "very positive" but everything needs to be put to "the test", US Secretary of State John Kerry said today.
"I think Rouhani's comments have been very positive, but everything needs to be put to the test," Kerry told reporters at the State Department headquarters, when asked about the new statements coming from Tehran.
01:17 Magnitude 5.3 earthquake rocks Japan's Fukushima prefecture
A magnitude 5.3 earthquake rocked Japan's Fukushima prefecture today, US seismologists said, but no tsunami warning was issued.
The epicentre of the earthquake was 22 kilometres (14 miles) below the ground, according to the US Geological Survey. It struck 20 kilometres west of the city of Iwaki, bordering the Pacific Ocean, at 02.25 am (1725 GMT).
01:16 Pakistani Taliban denies seeking release of 50 prisoners
The Tehreek-e-Taliban Pakistan today denied asking for release of 50 prisoners, hours after a media report said its chief had contacted a former PML-N lawmaker and made the demand.
A TTP spokesman said that neither the group's chief Hakimullah Mehsud nor he spoke to PML-N lawmaker Javed Ibraheem Paracha over the telephone.
00:42 22 arrested in Pak for attacks on NATO trucks
Pakistani security officials have arrested 22 members of a gang involved in attacking and torching Afghanistan-bound US and NATO supply containers, officials said today.
The paramilitary Frontier Corps arrested the suspects from the industrial city of Hub in the troubled southwestern Balochistan province, they said.
00:18 Rouhani: Iran has never pursued nuclear weapons
Iranian President Hassan Rouhani has vowed his country will never pursue a nuclear bomb, in the latest sign the newly elected leader is open to improving relations with the United States.
In an interview from Tehran with NBC News, President Rouhani said Iran has never sought nuclear weapons and that it would under no circumstances "seek any weapons of mass destruction."
00:17 Syria crisis: Putin 'confident' on chemical weapons plan
Russia's President Vladimir Putin says he is "confident" Syria's chemical weapons can be destroyed under a US-Russian plan, but not "100% sure".
Speaking to reporters he reiterated Moscow's view that the opposition may have carried out last month's deadly attack in the Damascus suburbs.
00:16 Pope warns church focusing too much on divisive issues
Pope Francis has warned that the Catholic Church's focus on abortion, contraception and gay marriage risked overshadowing its pastoral mission and threatened to bring down the church "like a house of cards."
The Pope's comments, made as part of a blunt, wide-ranging interview with the Italian Jesuit journal Civilta' Cattolica, didn't mark a break with church teaching. But they set out a vision of a church that is more welcoming and less preoccupied with strict doctrine.
00:14 Exports are biggest bright spots in US economy: Obama
US President Barack Obama today said exports have been one of the biggest bright spots in the American economy and are top priority for his administration.
"One of the biggest bright spots in our economy has been exports; the fact that 'Made in America' means something and has provided a boost to our domestic economy, and has reminded the world just how competitive we are," Obama said at a meeting of the Export Council.
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