* :+1 ' &% ; % ; ; ,)',289: ,/'0',01 +,-). /,)2 1 8!)282 91 !--")9,!*)2/ 9!."9" +2-8*-9 ,)"3 8"1!-89!)23! 8*)!"12) !) 8*!*19 8!)+*0!8 1"32"9) 8*)!"1"2*+2) +28!+9) 8.+2!!+>*!.3!+! <- 6/7#4,,% =$# <! 2 '! # $ ;#<=>? 9< !"# )23+2-8* policy repo rate reduction of 110 bps during February- n a clear admission about the August 2019, the weighted )23+2-8* Ipoor health of the economy, average lending rate (WALR) the Reserve Bank of India on fresh rupee loans of com- ndia has finally broken its (RBI) on Friday slashed its mercial banks declined by 29 Isilence on repeated state- GDP growth estimate for the bps. However, the WALR on ments issued by Turkey and current fiscal to 6.1 per cent outstanding rupee loans Malaysia attacking New Delhi from 6.9 per cent and reduced increased by 7 bps during the on the Kashmir issue and asked the interest rate by quarter of same period. them to have a proper under- a per cent even as the stock Central banks around the standing of the situation in market benchmark BSE Sensex world are loosening monetary Kashmir before making further plummeted by 434 points due policy to offset a global slow- comments. to heavy sell-off in banking and down, worsened by US-China Expressing “deep regrets” FMCG stocks. trade tensions. The rate cut by on the statement issued by the The market was disap- the RBI follows a series of fis- two countries, External Affairs pointed by such a massive cal steps taken by the Ministry Spokesperson )* ++*, ,)* downward revision of growth Government over the last six Raveesh Kumar reiterated ./0,.*,/ , forecast and less than expect- weeks to spur growth, includ- India’s position that Pakistan %&*)*)2 2P, ed reduction in interest rate. ing steepest ever cut in tax paid had invaded and illegally occu- ./,)/ ))0,) 2 Given the tame inflation rate by companies, cost the exche- pied parts of Jammu & 22 24 and feeble growth, the street quer 1.45 lakh crore. Kashmir and the current devel- /!!%.2.*),/+5 2) was expecting at least 40 basis Asked if the corporate rate opments in J&K and Ladakh !%** )2/.& ), 5 point rate cut. The disappoint- cut would impact fiscal deficit are purely its internal matter. 220*.%*), ed triggered a collapse in the ) * !! & ) $ # target of 3.3 per cent of the Kumar called upon market. It was the fifth straight ,-.# , $ ( GDP, Das said the Government Ankara, which has issued sev- )* &))* rate cut that brought interest has stated that it will maintain target of 4 per cent. a high of 38,403.54. The broad- eral statements on Kashmir rate to almost a decade low. growth in the current fiscal to momentum remains as it is fiscal deficit target and “we On reviving growth, the er NSE Nifty plunged 139.25 since August 6, to have a prop- Jammu & Kashmir and asked With all six members of the 6.1 per cent from 6.9 per cent now and growth revives, the have no reason to doubt that”. MPC welcomed the recent points or 1.23 per cent to close er understanding of the situa- New Delhi to work with Monetary Policy Committee it had previously estimated MPC will continue with an Admitting that the impact moves by the Government as at 11,174.75. During the holi- tion in Kashmir before making Pakistan to resolve the issue. (MPC) voting in favour of a after lower-than-expected 5 accommodative stance while of the 135 bps rate cut will “take the ones in the right direction, day-truncated week, Sensex further comments. Pointing out that India and rate cut and for retaining the per cent growth rate in April- ensuring inflation remains time” to filter in, Das said, but the resolution did not have plummeted 1,149.26 points or “India and Turkey are Malaysia have traditionally accommodative stance, the June and no substantial uptick within the target.” The RBI will “While the recent measures any reference to the fiscal 2.96 per cent, while Nifty friendly countries. We, there- enjoyed good and friendly ties, benchmark repurchase rate in the following quarter. Risks continue accommodative announced by the Government deficit or fiscal management, declined 337.65 points. fore, deeply regret that since Kumar said, “This relation- was cut by 25 basis points to on the 6.1 per cent GDP stance as long as it is necessary are likely to help strengthen which is generally deemed to Top laggards included August 6, there have been ship has been enhanced in 5.15 per cent. The previous growth estimate are “evenly and growth revives,” he said. private consumption and spur have an inflationary impact. Kotak Bank, ICICI Bank, repeated statements by the recent years. We have noted the lowest repo rate of 5 per cent balanced”, it said. In the four previous rate private investment activity, the Meanwhile, after opening HDFC Bank, Tata Motors, Turkish Government on a mat- comment on J&K by the Prime was recorded in March 2010. The repo rate cut is aimed cuts since February, the RBI continuing slowdown warrants nearly 300 points higher, the L&T, SBI, Tata Steel and Axis ter completely internal to India. Minister of Malaysia. We Following the rate cut, the at pushing consumption up had cut interest rates by 110 intensified efforts to restore the Sensex gave up all the gains to Bank. On the other hand, TCS, These statements are factually deeply regret these comments reverse repo rate was reduced during the ongoing festival basis points whose transmis- growth momentum.” turn negative shortly after the Infosys, ONGC, Tech incorrect, biased and unwar- since they are not based on to 4.9 per cent. While five season by reducing borrowing sion to borrowers in form of The RBI raised its near- policy announcement by the Mahindra, IndusInd Bank and ranted,” Kumar said. facts,” Kumar said. members voted for a 25 bps cut, costs for home and auto loans, lower lending rate has term inflation forecast slightly RBI. The Sensex gyrated 770 NTPC rose up to 1.03 per Malaysian Prime Minister “Government of Malaysia Ravindra Dholakia voted for a which are now directly linked “remained staggered and to 3.4 per cent for the second points during the day to end cent. Rate-sensitive banking Mahathir Mohamad had raised should bear in mind the friend- 0.40 per cent reduction. to this benchmark. incomplete”, the Central bank quarter of the fiscal started in 433.56 points or 1.14 per cent stocks faced the heat, finance, the Kashmir issue at the United ly relations between the two The RBI revised down- RBI Governor Shaktikanta said in a statement. April, while projecting it would lower at 37,673.31. It hit an auto and realty indices tanking Nations, alleging that India countries and desist from mak- wards its estimate for GDP Das said as long as the growth As against the cumulative stay below its medium-term intra-day low of 37,633.36 and up to 2.45 per cent. had “invaded and occupied” ing such comments,” he added. $ %& P % &'()% # !'() & )23+2-8* communication and coordi- nation between the ground ndian Air Force (IAF) chief staff and the crew of the ill- )23+2-8* IRKS Bhadauria on Friday fated helicopter. The IFF helps ! " #$% said “it was a big mistake” by air defence radars identify he Supreme Court on Friday IAF men to bring down the whether an aircraft or heli- Tfavoured an “amicable solu- MI-17 chopper on February 27 copter is friendly or hostile. In tion” for the re-construction of in Jammu & Kashmir, killing all early May, the IAF transferred ! Guru Ravidas temple on a bet- six on board besides a civilian the Air Officer Commanding & ter location after it was demol- on the ground. He said the (AOC) of Srinagar base to ' ished in Tughlaqabad forest Commission of Inquiry (CoI) ensure a thorough probe into ' &O area here, saying it respects is over and action will be taken the incident. % everybody’s “sentiments” but against the guilty. Officials said the CoI was law has to be followed. Officers may face charges also specifically focusing on " The temple was demol- of culpable homicide not examining the role of various # ished by the Delhi amounting to murder as per people, including those con- )*! ' Development Authority (DDA) provisions of the military law )! 3$ $ trolling the air defence system citing the top court’s direction. and IAF top brass will decide ! 4 % & ( when the helicopter was hit by ' + ,- & / The demolition had led to a on the quantum of punish- a surface-to-air missile. '.&' (! $ 0$ 12 $ ( series of protests, including in ment, said sources. lost their lives will be declared stated earlier. The Pioneer had Incidentally, the helicopter , / Delhi, Punjab and Hit by a surface-to-air mis- battle casualties. reported on August 23 that the was shot down around the !! / 9!* retain power in Maharashtra Haryana. sile of the IAF, the helicopter He said this at his first high-level probe by the IAF had same time when Indian and ' after the October 21 Assembly The SC asked the parties in crashed in Budgam shortly annual Press conference as IAF held five officers guilty as it was Pakistani fighter jets were 0 hief Minister Devendra polls. the matter to hold a consulta- after take-off from Srinagar. Chief ahead of the 87th Air found out that the helicopter engaged in the aerial battle. CFadnavis announced on Sena chief Uddhav tion to arrive at an amicable The incident took place on Force Day on October 8.