MUMBAI: RBI Governor Urjit Patel had opted for a moderate rate cut of 25 basis points arguing that low food prices were unusual and vulnerable to upward pressures, said minutes of the last Monetary Policy Committee (MPC) meet released today. Patel had also opined that effective transmission of policy rate was key to non-inflationary growth and banks have still space to cut lending rates. The RBI Governor-headed six-member MPC had met on August 1 and 2 to decide this fiscal's third bimonthly monetary policy. Based on the majority view at the MPC meet, the central bank reduced the key policy rate (repo) by 25 basis points to 6 per cent, although the industry and other stakeholders were expecting more than that. Four of the six members had recommended 0.25 per cent cut in repo rate. While external member Ravindra H Dholakia (Professor, IIM, Ahmedabad) suggested 0.5 per cent reduction, another member Michael Debabrata Patra (RBI Executive Director) was in favour of status quo. As per … [Read more...] about RBI MPC minutes: Governor Urjit Patel pushed 0.25% rate cut
There was a time when actor Karan Patel was accused of unprofessional attitude. But not anymore. He says that today, he is a changed man with a more positive and diligent approach towards life. After being out of work for a long time, he got a new lease of life with the show, 'Ye Hai Mohabbatein', which wrapped up a few months ago, after running for six years. ‘Stardom got to my head’ Karan, who will now be seen in the reality show, 'Khatron Ke Khiladi', shares, “I messed up badly. Stardom got to my head, and I got too big for my boots during the course of my show, 'Kasturi' (2007-2009). I would report late, that too, drunk, on the set. I thought that I could get away with it because I had become an overnight star. But not everyone will tolerate that kind of behaviour for long. The show ended and I was out of work for a couple of years.” That phase was an eye-opener. The actor says, “I realised that stardom is a good thing to achieve, but it’s more … [Read more...] about Karan Patel: No man is perfect. Everybody needs a second chance in life and I am glad I got it.
AHMEDABAD: US President Donald Trump, during his India visit, would participate in a grand roadshow in Ahmedabad and also tour the Sabarmati Ashram and inaugurate a newly-built cricket stadium here with Prime Minister Narendra Modi, sources said on Wednesday. He is likely to visit Ahmedabad on February 24, they said. During his visit to Modi's home state Gujarat, Trump along with the Indian prime minister would participate in a grand roadshow, planned along a 10-km decked-up stretch from the Ahmedabad airport to the Sabarmati Ashram, they said. The US president would then visit the Sabarmati Ashram, which served as epicentre of the country's freedom struggle during Mahatma Gandhi stay there. Trump and Modi would later inaugurate the newly- constructed Sardar Vallabhbhai Patel Stadium in the city's Motera area and address a gathering, likely to be attended by over one lakh people, the sources said. The mega event at the stadium will be similar to the "Howdy, Modi!" event held in … [Read more...] about President Trump to attend roadshow, ‘Howdy Modi’-like event in Ahmedabad
However, the use of national identity cards will be phased out for travel to the U.K. and the Home Office highlighted that as part of its post-Brexit offer, those EU citizens resident in the U.K. by December 31, 2020 can still apply to settle in the UK through the EU Settlement Scheme until June 2021. … [Read more...] about U.K. launches points-based visa system
(This story was first published in the Times of India on February 20, 2020) Mumbai: A few men in white linen clothes walked into a liquor shop on Sidhwa Road in Fort last week. And posing as political party workers, they asked the staff if they had a licence and other documents. But, little did they know that the shop belonged to Ashok Patel, 65, who had got 117 persons—including cops, I-T staff and officials of various departments—arrested for extortion in the last 25 years. They learnt it the hard way on Tuesday when one of them returned to knock off ‘hafta’ (bribe) of Rs 7 lakh. How? Patel and his staff literally made a ‘trap’: they locked the door from outside and called up the police control room. The Marine Drive police then arrived and arrested Rajendra Waghmare, a Dadar resident, making him Number 118. His three accomplices too were arrested, taking Patel’s ‘trapped’ count to 121. Among 117 trapped over the last 25 years … [Read more...] about ‘Ab tak 121’: How this south Mumbai wine shop owner trapped extortionists