New RBI chief delivers election cut for PM Modi in a surprise move. India’s new central bank chief delivered an unexpected interest rate cut, providing Prime Minister Narendra Modi with the kind of stimulus he needs to stoke economic growth in an election year.
In a sharp reversal from October, when the Reserve Bank of India took rate cuts off the table, Governor Shaktikanta Das -- who took office in December -- opened the door to more policy easing and brought growth firmly back onto the Monetary Policy Committee’s agenda. That was a departure from his predecessor Urjit Patel, whose singular aim was to meet the RBI’s 4 percent inflation mandate. The surprise move came almost a week after Modi’s administration unveiled an expansionary budget, which included $13 billion of help for consumers ahead of the poll that’s due by May, and days after a top adviser to the prime minister said the RBI should cut rates. “A very balanced and pragmatic policy statement,” Economic Affairs Secretary Subhash Garg said after the rate move. The U.S. Act Decisively. Zomato raises Rs 284 cr from Uber, Airbnb investor Glade Brook Capital.
Online restaurant guide and food ordering startup Zomato has raised Rs 284 crore from US-based investor Glade Brook Capital Partners which counts companies such as Uber, Airbnb and Snapchat among its portfolio firms.
The financing is part of Zomato’s Series I funding round that started in November 2018 when Alibaba-backed Ant Financial invested Rs 1,539 crore in the New-Delhi based firm. Congress committed to safeguarding tribal land in Odisha: Rahul Gandhi. Congress president Rahul Gandhi Wednesday accused Prime Minister Narendra Modi and Odisha Chief Minister Naveen Patnaik of "snatching" tribal land and asserted his party will work for protecting the rights of the community.
Addressing a rally at Bhawanipatna, among the backward regions of the state, Gandhi said the BJP-led government at the Centre and the BJD dispensation in the state have "failed to work" for the welfare of the dalits, the tribals, the farmers and the poor. "The Congress is the only party committed to safeguarding the land of tribals. Sabarimala verdict: 5-judge SC bench commences hearing on review petition. The Supreme Court Wednesday commenced hearing on pleas seeking review of its verdict which had allowed women of all ages entry into Kerala's Sabarimala temple.
Senior advocate K Prasaran, appearing for Nair Service Society, opened the arguments before a five-judge bench and sought setting aside of the verdict. The review petitions are being heard by a Constitution bench comprising Chief Justice of India (CJI) Ranjan Gogoi and justices R F Nariman, A M Khanwilkar, D Y Chandrachud and Indu Malhotra. Student leaders say no talk of jobs in Budget, to march to Parliament. Student leaders on Tuesday accused the Union government of presenting an Interim Budget that was silent on the issue of jobs and employment opportunities for youth in the country.
Students under various outfits will march from the historic Red Fort to Parliament on Thursday in protest, they said in a joint statement. N Sai Balaji, the president of Jawaharlal Nehru University Students Union, said, "(Prime Minister Narendra) Modi will come to young India for one more chance. But this time we are not going to give him any chance as our PM. Modi has ruined our future. 1,000 swine flu cases in Delhi this year; hospitals report 13 deaths.
One death due to swine flu and 124 fresh cases of Influenza A (H1N1) was Tuesday recorded in Delhi, taking the total number of people affected by the disease in the city this year to 1019, according to a report.
The city had recorded 895 positive cases of swine flu till Monday, which included 712 adults and 183 children, the latest report by the city's Directorate General of Health Services said. As many as 104 fresh cases of adults, 20 of children and one death was recorded on Tuesday, it said. Till Monday, Delhi government had not recorded any death due to swine flu. However, two Centre-run hospitals here have reported 13 deaths due to swine flu this year. According to senior officials at Safdarjung Hospital, three deaths due to swine flu have been recorded this season, while RML Hospital has reported 10 fatalities. 1970s-era musicians sue Sony, UMG to reclaim rights to song recordings. David Johansen, John Waite and other prominent 1970s musicians filed lawsuits on Tuesday accusing Sony Music Entertainment Inc and UMG Recordings Inc of improperly refusing to let them reclaim rights to songs they had long ago signed away.
The proposed class actions filed in Manhattan federal court said US copyright law gives songwriters who bargained away their works on unfavourable terms a "second chance" to reclaim their rights by filing termination notices after 35 years. But they said Sony and UMG have "routinely and systematically" ignored hundreds of notices, mainly because they deemed the songs "works made for hire" under their recording contracts and therefore not subject to being reclaimed. The named plaintiffs in the Sony case are Johansen, formerly of the New York Dolls and who as Buster Poindexter recorded "Hot Hot Hot;" John Lyon, who performs as Southside Johnny; and Paul Collins, known for the Paul Collins Beat. NTA to conduct UGC NET 2019 exam from June 22; registration starts March 1. UGC NET 2019: National Testing Agency (NTA) will conduct the National Eligibility Test (NET) in June 2019.
Candidates who wish to pursue a career in academics can register online for the UGC-NET 2019 through NTA’s official website, nta.ac.in. The registration process for UGC NET 2019 exam will begin on March 1, 2019, and end on March 30. Bad news for India's bond mkt: Global funds see pain ahead on fiscal woes. Prime Minister Narendra Modi’s record $100 billion borrowing plan isn’t the only piece of bad news for India’s bond market, some money managers say.
Debt sales could still fail to bridge a forecast deficit as the government’s budget relies on ambitious revenue collections and one-off items that may not materialize, according to OppenheimerFunds Inc. And Europe’s largest asset manager, Amundi SA, says bonds of other Asian nations offer better value. Samsung Galaxy M20 review: Power-packed performer disguised as budget phone. The Galaxy M20 from South Korean electronics manufacturer Samsung is one of the two smartphones that the company recently launched as part of its India-first Galaxy M-series.
The series has a lot riding on it, therefore, the company has loaded the series’ premium device (M20) with features that have never been part of Samsung devices. These features include a 5,000 mAh battery, a waterdrop notch screen, a customised user interface, and more. On paper, the Galaxy M20 might seem like a new breed of smartphone. But does it have features and performance to take on competition in the same segment? Lok Sabha Elections 2019: Priyanka Gandhi meets Rahul for 'mission UP' Interim Budget falls short on a key promise made by Modi; creating jobs. India’s budget provided plenty of giveaways to farmers and middle-class voters, but was short on detail on one of Prime Minister Narendra Modi’s key promises: creating jobs.
The issue has become a politically sensitive one ahead of elections due by May, with the government accused of deliberately withholding the most recent labor report because of the possible bad news it presents. A local newspaper published leaked details of the report a day before the budget, showing the unemployment rate reached a four-decade high of 6.1 per cent in the year to June 2018.
Modi swept to power in May 2014 with the biggest electoral mandate in three decades after promising to create 10 million jobs each year. Finance Minister Piyush Goyal said in his budget speech last week that 20 million “employment opportunities” were added in two years. Yet no official labor survey has been published since 2016, when the unemployment rate was reported at 5 per cent.
How Google's rocking ad revenue is keeping its troubles under wraps. In case you were worried, the advertising titans of the internet are doing just fine. Facebook Inc. showed that last week by reporting a 30 percent jump in fourth-quarter revenue from a year earlier. It was the lowest growth rate in the company’s short history, and the company has many challenges to keep growing, but it turns out that Facebook keeps making bank because its ads work and the company is willing to plaster them all over its internet hangouts.
The same appears true for Google parent company Alphabet Inc. For the sixth consecutive quarter, the company’s advertising sales rose at least 20 percent, the company said Monday. India vs New Zealand: Martin Guptill ruled out from 3-match T20 series. Senior New Zealand opener Martin Guptill has been ruled out of New Zealand for the upcoming three-match T20 series against India after failing to recover from back injury. Guptill will be replaced by all-rounder Jimmy Neesham, who also featured in the final two ODIs against India in the recently concluded five-match series. "Unfortunately Martin hasn't recovered in time for this Twenty20 series which is very condensed with three games over five days," New Zealand coach Gary Stead was quoted as saying by stuff.co.nz.
251 sedition cases filed in Assam since BJP came to power in 2016. Assam government has registered a total of 251 sedition cases since the BJP-led alliance came to power in the state in 2016, the Assembly was informed on Monday. In a written reply, Parliamentary Affairs Minister Chandra Mohan Patowary said 251 sedition cases were filed against various individuals and banned organisations since May 26, 2016 when the present coalition government took charge. Replying to the query by Leader of the Opposition Debabrata Saikia of the Congress, Patowary said sedition cases have been filed against militant groups such as ULFA(I), NDFB (S), NDFB(B), KLO, NSLA, NSLA(AT), UPLFS, DHD, DHNA, NSCN(IM), ZUF and ATF among others.
Such cases were also registered against several individuals, Patowary said on behalf of Chief Minister Sarbananda Sonowal who also holds the Home portfolio. IndoStar Capital to buy IIFL's CV finance biz with AUM worth Rs 3,949 cr. IndoStar Capital Finance Limited (IndoStar) will buy out the commercial vehicle (CV) finance business of India Infoline Finance Limited (IIFL Finance) with assets under management (AUM) worth Rs 3,949 crore. IndoStar has signed an agreement to acquire the CV finance business of IIFL Finance, a material subsidiary of IIFL Holdings Limited. The boards of both companies have approved the transaction, however, the value of the deal has not been disclosed. In a joint statement, both companies said the acquisition includes the entire CV finance AUM of Rs 3,949 crore as on December 31, 2018.
Interim Budget 2019: Using technology to increase tax base and reduce rates. In the Interim Budget 2019 speech, Finance Minister Piyush Goyal has reiterated the government's aim to continue technology-led tax reforms. Technology to increase tax base and reduce rates. Why PM Modi seems to have given up on hopes of transforming India. India’s Prime Minister Narendra Modi is in a spot of trouble.
Odisha's Kalia scholarship scheme for farmers' to boost higher education. Odisha Chief Minister Naveen Patnaik announced the new 'KALIA Chhatravritti Yojana', which is a scholarship for the children of farmers who are the beneficiaries of Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme. Under this scheme, the children of farmers, who are the beneficiaries of the KALIA scheme will be provided scholarships for pursuing higher education in professional courses free of cost.
Moody's says Interim Budget credit negative on fiscal deficit, giveaways. Terming the inability to meet fiscal deficit target for four consecutive years as a big "credit negative" for the sovereign, global rating agency Moody's on Friday doubted if the country will meet even the 3.4 per cent fiscal gap target for FY20. Chidambaram asks how economy is growing when unemployment at a 45-year high. Former finance minister P Chidambaram Friday raised doubts over the GDP figures, wondering how the economy is growing at 7 per cent when the unemployment rate was the highest in 45 years.
Taking a dig at the Centre, he claimed that when the government revised the GDP figures it did not realise that the unemployment figures also got revised. Interim Budget 2019 has enough to galvanise Sangh Parivar workers for elections. With Lok Sabha elections less than 70-days away, the challenge for the Narendra Modi government was to overcome, or somewhat neutralise, the opposition’s criticism of it having been a ‘suit boot ki sarkar’ that failed to prevent farm distress and caused immense job losses with its demonetisation and “hurried implementation” of the goods and services tax (GST). Ahead of LS polls, Modi govt reaches out to large electorate in Budget 2019. Reaching out to a large electorate ahead of the Lok Sabha polls, the Modi government on Friday announced a cash dole for small farmers, a mega pension scheme for the unorganised sector and doubled the threshold tax exemption limit to Rs 5 lakh.
Budget 2019: Single-window clearance for filmmakers to curb piracy, says FM. This firms aims to connect American students of Indian descent to homeland. ICICI Bank board under fire for giving clean chit to Chanda Kochhar. Not just plastic & air, India has one more pollution crisis: Burning tyres. 2019 polls: Why govt should aim to create jobs, not offer basic income. Apple bans Facebook Research app for paying teens $20/month to access data. ICICI-Videocon loan case: Srikrishna panel submits probe report to bank. There are 900 mn active iPhones globally, Apple reveals for the first time. Is iPhone boring now? What Apple can do to fill the hole in its revenue. Here's the Uber investor letter that forced Travis Kalanick to step down. Budget 2019: What govt needs to do to boost higher education institutions. Did this India-born billionaire bribe doctors to push opioid painkiller?
Govt moves SC to return 67-acre land around Ayodhya site to original owners. Apple to fix FaceTime bug allowing iPhone users to eavesdrop on people. Samsung Galaxy M20, Galaxy M10 launched: Know price, specs, sale details. Sidhu, Aamir Khan, Naseeruddin Shah are 'traitors': RSS leader Indresh. All new Maruti Baleno launched with sporty front grill: Check price, specs. Wipro boosts local hiring to ramp up delivery in onshore locations. Interim Budget 2019: What's in store for investors, taxpayers, economy? Halal internet? This browser promises to be compliant with Islamic values. Honor View 20 first impressions: Worthy if launched as midrange smartphone. Republic Day: 855 police personnel decorated; 149 get gallantry medals. Priyanka's resemblance to Indira Gandhi will benefit Congress: Shiv Sena. EMKAYTOOLS Half Yearly - Business Standard News. How large-scale activitiy is eroding the ecosystem in central western ghats.
Entry to Sabarimala a big step forward for gender equality? Ask Dalit women. Honor 10 Lite review: Not a poser, but a performer in midrange segment. How the Congress party plans to counter smear campaign against Rahul Gandhi. Paytm may enter two more developed markets in 2019, says CFO in Davos. RIL's plan to strengthen balance sheet hinges on telecom, e-commerce plans. Piyush Goyal back as interim Finance Minister, to present interim Budget. Priyanka takes up Congress role in UP after over a decade behind the scenes. 10% quota move will backfire on BJP; 'bahujans' feeling duped: Tejashwi. Looking to buy a budget car? Maruti Suzuki launches new version of WagonR.
Google spends record $21.2 mn on US lobbying amid anti-trust, bias battles. Two-wheeler registrations sluggish in January on tepid demand, down 7% YoY. Replace EVMs with 'tried and tested' ballot papers in Lok Sabha polls: AAP. Microsoft seeks to restrict abuse of its AI-based facial recognition tech. Toyota drives in new version of Camry Hybrid in India at Rs 36.95 lakh. Start Ram temple construction now to complete by 2025, says Bhaiyyaji Joshi. Why Modi govt bought only 36 Rafale jets instead of 126, asks P Chidambaram. The mutiny against Gillette's ad shows why we need movements like #MeToo.
Free public transport is boon for the environment but it's no silver bullet. Dense fog, poor visibility disrupts flight operations at Delhi airport. Gillette's toxic masculinity ad signals mainstream embrace of #MeToo. Why type when you can now dictate WhatsApp messages through voice command. China to enjoy Game of Thrones on smartphones as Tencent wins rights. Apple plans to cut back on hiring after selling fewer iPhones than expected. Hyundai, Kia Motors to recall 168,000 US vehicles at risk of fuel leaks. How Indian Ocean may play a lead role in world affairs in the future. Ahead of 2019 elections, Modi govt wants an expansionary economic policy. We don't spy for China: Huawei founder breaks silence, praises Trump.
Goods delivery by drones gets closer to reality, updated policy unveiled. Nokia to cut jobs in multiple countries after Alcatel-Lucent deal, 5G shift. Interim Budget 2019: Will Jaitley double I-T exemption limit to Rs 5 lakh? 2019 polls: BJP govt following a scorched-earth policy, says P Chidambaram. Honor 10 Lite with Kirin 710 SoC, dewdrop notch launched: Know price, specs.
Mumbai: No end to impasse as BEST bus strike enters 8th day, all eyes on HC. Google to bring new publishing platform to help local newsrooms go digital. Adelaide ODI: Australia won the toss, decided to bat in the 2nd ODI. Jet Airways: Delaying staff's salary may result in security risk, says DGCA. Seeking a job? Amazon has 1,300 openings in India, highest in Asia-Pacific. Dhoni's poor form a worry for India ahead of second ODI against Australia. Bumpy ride ahead: Carmakers in China brace for zero growth after tough 2018. Samsung to launch India-first smartphones to counter Chinese rivals. Winter is coming: Game of Thrones final season to start airing on April 14. App boom: Why 2019 could be the year of another technology bubble crash. Addicted to Facebook, Twitter? Here's what a new study has to say. Why Jaguar Land Rover's job cuts will do little for its turnaround plans. BJP National Meeting for Lok Sabha Elections 2019. Verdict on Ram Rahim in journalist's murder: Haryana on high alert; updates.
Fighting drug-resistant TB: What India can learn from S Africa's success. No end to Mumbai commuters' woes as BEST bus strike enters the third day. Huawei Y9 2019 launched as Amazon-exclusive: Know price, specs, features. Ayodhya case: A timeline of the Ram Janmabhoomi-Babri Masjid dispute. Where are the jobs, asks Shiv Sena after Parliament passes 10% quota bill.