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RBI cuts bank rate to 10.5 pcMUMBAI: Relaxing the liquidity-squeezing measures announced in January, the RBI on Wednesday cut the bank rate ...

RBI cuts bank rate to 10.5 pc

MUMBAI: Relaxing the liquidity-squeezing measures announced in January, the RBI on Wednesday cut the bank rate by 50 basis points to 10.50 per cent. This is a clear signal that the apex bank wants interest rates to ease before the new government embarks on its borrowing programme for the next fiscal.

Simultaneously, the RBI also hiked the prices of the Government of India securities (GILT) on its sale window confirming that it wants the interest rates to come down.

Malad crash toll

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MUMBAI: The toll in Tuesday’s building crash in Malad east rose to 18 today with fire personnel extricating five more bodies from the debris even as rescue operations were in full swing. Atleast five more persons are feared trapped inside the rubble of Sukh Sagar Apartments that caved-in last evening.

IEDs recovered

SRINAGAR: Jammu and Kashmir police achieved a major success when they recovered six powerful improvised explosive devices (IEDs) at Anantnag early today.The seizure came after the arrest of a militant last night.

RBI facility

MUMBAI: The RBI has decided to extend the electronic clearing service (ECS ) to eight more centres and also raise the limit on transaction value under the scheme. The scheme would now be available at Bhubaneshwar, Chandigarh, Guwahati, Jaipur, Nagpur and Patna.

‘Grave insult to wounded people’: Cong lashes out at PM Modi amid his first Manipur visit

India2 hr ago

As Prime Minister Narendra Modi visits Manipur for the first time since ethnic violence hit the state in May 2023, the Congress on Saturday called it a “farce, tokenism, and a grave insult to a wounded people”.

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