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Latest News Live: World Food Programme wins Nobel Peace Prize 2020 – Economic Times

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Chhattisgarh: 40th Battalion of the Indo-Tibetan Border Police (ITBP) recovered and destroyed an IED weighing 5 kg in a joint search operation near Korba jungle, Bubhanbhat.

Pakistan to block social media app TikTok for “immoral” content

Switzerland says information about 3.1 million financial accounts shared with 86 countries.

Law & order situation in West Bengal is very alarming. We have terror outfits like Al-Qaeda. It’s a threat to national security. 6 were arrested & the 3 arrested from elsewhere are also from this area. Police & state agency had no idea about it, it’s a very serious matter.

– West Bengal Governor

Sukhoi-30 aircraft of the Indian Air Force armed with the ‘Rudram’ Anti-Radiation Missile.

Mumbai Police in its investigation found around 80000 fake social media accounts specifically created to target Maharashtra government and Mumbai Police. This issue of social media platforms being used to spread lies and hate to destabilise governments as well as undermine constitutional institutions needs to be investigated. I have written to both, Honourable Home Minister Shri Amit Shah ji and IT Minister Shri Ravishankar Prasad ji.

– Priyanka Chaturvedi, MP Rajya Sabha

India successfully testfired ‘Rudram’ Anti-Radiation Missile from a Sukhoi-30 fighter aircraft off east coast.

Police are working like Trinamool Congress cadre. it is clear that CM Mamata Banerjee is scared & is hence using police as her cadre. The cases lodged against us are shameful. This is not how a democracy works, we will fight legally: West Bengal BJP president Dilip Ghosh

Economic Offences Wing arrested accused Pramod Goel, Krishan Chand Bansal & Anil Gupta, for misappropriating Rs 10 crores funds of Moneywise Financial Services. These 3 directors of Indirapuram Habitat Center failed to repay loan & sold 23 mortgaged units: JCP, EOW, Delhi Police

Andhra Pradesh: Six people injured in a gas cylinder explosion at a house in Sabbavaram of Visakhapatnam, today. Parts of the house damaged in the explosion. Injured shifted to a hospital.

Chaired Delhi Development Authority meeting. Authority approved key proposals for allotment of land for construction of Guru Ravidas Ji temple at Jahapanah city forest & reduction in Minimum Reserve Price for auction of land for Educational&Health facilities.

– Delhi LG Anil Baijal

To curb pollution, Delhi govt has decided to set-up a Rs 20-crores Smog tower in Connaught Place, in addition to the Central govt’s smog tower coming up in Anand Vihar. This tower will suck the air from the top & release filtered air near the ground: Arvind Kejriwal, CM, Delhi

Delhi govt has passed a tree transplantation policy, under which 80% of trees uprooted for any construction/development project, must be transplanted elsewhere. Payment will be made to the transplantation agency only if 80% of transplanted trees survive.

– Arvind Kejriwal, Delhi CM

Cinema halls, bars, coaching centres are allowed to open in the UT. Some of them are reopening from tomorrow and some from October 15th. The limit of pilgrims, visiting Mata Vaishno Devi shrine has been increased from 5000 to 7000 per day: Simrandeep Singh, Secretary to J&K Govt

No vindictive action by Mumbai cops in busting TRP scam: Sanjay Raut

Ministry of Information and Broadcasting issues advisories to private television channels to adhere by Programme Code under Cable Television Network (Regulation) Act, 1995 under which no programme should contain half-truths, obscene & defamatory content, among other regulations.

Bhima-Koregaon: NIA files its chargesheet against seven accused

  • This includes Dalit activist Dr Anand Teltumbde, civil rights activist Gautam Navlakha, professor Hanybabu Musaliyavirtil Tarayil
  • Three members of Kabir Kala Manch Jyoti Raghoba Jagtap- Sagar Gorkhe and Ramesh Gaichor, and Swamy

India successfully test-fires DRDO’s ‘Rudram’ Anti-Radiation Missile

Closing Bell

Sensex climbs for 7th day, ends 327 points higher; Nifty above 11,900; ICICI, SBI gain 4% each

Worldwide coronavirus cases cross 36.5 million, death toll at 1,060,997

NIA files charge-sheet against eight people in Bhima Koregaon case: Officials.

SC stays recovery of penalty on NTPC’s Vindhyachal Super Thermal Power Station in Singrauli.

I think this is the first time in my life I’ve been without words. I was just so shocked and surprised.

– David Beasley, UN World Food Programme

Telangana Cabinet to meet tomorrow, may discuss regulatory farming policy

Goa govt to rope in AYUSH doctors to treat patients

AYUSH is an acronym for five traditional systems of medicine- Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy.

Ex-principal secretary to Kerala CMO appears before Customs in Kerala gold smuggling case

Notably, the Enforcement Directorate (ED), which recently submitted a chargesheet in the Kerala gold smuggling case in a special (PMLA) court in Kochi, had said M Sivasankar was a key person in the present government and his role has to be thoroughly investigated in the entire episode.

Zoom rolls out ‘SSO feature’ to make online classrooms safer

Popular video meet and conferencing app, Zoom, released an external authentication feature Single Sign-On (SSO) that can benefit schools using Zoom for remote and hybrid classrooms.

According to Mashable, SSO, released earlier this week, is a new feature that allows users to log in one under one set of credentials to get access to all the apps, data and other services.

Cycling: Paris-Roubaix classic cancelled amid COVID-19 crisis

The Paris-Roubaix ‘Monument’ classic was due to be raced on October 25.

3,951 km highways constructed in Apr-Sept

“The Ministry of Road Transport and Highways has successfully completed construction of road length of 3,951 km during the first six months of this fiscal year (April-September). It has achieved a construction pace of 21.60 km per day despite COVID-19 difficulties,” the ministry said in a statement.

Amazon expands network in north east

With close to 60 Amazon-owned and delivery service partner stations in the region, the company has added several new pin codes to its delivery footprint ahead of the festive season this year, including remote towns such as Champhai, Kolasib, Lumding, Pasighat and Mokokchung, the company said in a statement.

Norwegian Nobel Committee awards the Nobel Peace Prize 2020 to the World Food Programme (WFP).

PM Modi to launch physical distribution of property cards under the ‘SVAMITVA’ (ownership) scheme on October 11

India successfully test-fires Anti-Radiation Missile ‘Rudram’

Russia confirms new single-day record of 12,126 COVID-19 cases

12 new COVID-19 cases in Sikkim

HC rejects PIL claiming EPF Act not being followed while enrolling members

  • The Delhi High Court Friday dismissed a PIL which claimed that the Employees’ Provident Funds and Miscellaneous Provisions Act of 1952 and the schemes framed under it were not being followed while enrolling members.
  • A bench of Chief Justice D N Patel and Justice Prateek Jalan declined to entertain the plea which had alleged that ineligible persons were being enrolled as members in the EPF schemes resulting in “major losses” to the central government and the Employees’ Provident Fund Organisation (EPFO).

Arrested HAL employee who shared info on aircrafts manufactured by the defence company worked with its Ojhar unit in Nashik

Parted information on Tejas and other aircrafts.

Telangana reports 1,891 new COVID-19 cases, 7 deaths

Delhi airport’s duty free store starts “click and collect” service

It allows international passengers to book products online and collect them from the store on the day of their travel.

Ministry of Road Transport & Highways has completed construction of road length of 3951 km during the first six months of this fiscal year

Maharashtra ATS arrests an employee of Hindustan Aeronautics Ltd. (HAL), for allegedly supplying secret information about Indian fighter aircrafts to his ISI handler

Piyush Goyal assigned additional charge of Ministry of Consumer Affairs, Food and Public Distribution, following demise of Ram Vilas Paswan

Reports ANI

Zoom supports rupee as localised pricing for India market

  • In a move to expand its footprint and reach a bigger audience, US-based video meet platform Zoom on Friday announced that it will now support rupee as the localised pricing for the India market.
  • Users will be required to choose India as the “billing and sold” to country and can pay using the credit card option for purchase in Indian rupee.

Kerala: A court in Kochi reserves its order on a bail plea filed by Swapna Suresh, an accused in gold smuggling case

Court to pronounce the order on October 13.

Armenia, Azerbaijan confirm they will join Moscow talks: Russia

Rahul Gandhi pays last respects to Ram Vilas Paswan

Shiv Sena can contest in around 50 seats in the upcoming Bihar Elections 2020. Maharashtra CM Uddhav Thackeray and state minister Aaditya Thackeray will address virtual rallies

– Sanjay Raut, Shiv Sena

Former Bihar CM Lalu Prasad Yadav granted bail by Jharkhand High Court, in the Chaibasa Treasury case related to fodder scam

However, he will remain in jail since the Dumka treasury case is still pending.

UK economy stumbles in August, setting back COVID recovery

Gross domestic product rose by 2.1% from July, its slowest month-on-month increase since the economy began its recovery in May after a record slump, and not even half the median forecast of 4.6% in a Reuters poll of economists.

How Motown is reacting to RBI’s status quo

Price as on 09 Oct, 2020 12:06 PM, Click on company names for their live prices.

More support for debt markets

  • RBI said to offer more support to debt markets to control borrowing costs and reassure traders worried about a bond deluge.
  • RBI said it would double the size of purchases at open market operations to 200 billion rupees ($2.7 billion).
  • RBI will also buy state debt, and help companies raise funds by doing targeted long-term repurchase operations worth a trillion rupees.
  • The latest measures come as stubbornly high inflation kept the central bank from cutting rates.

RBI policy: What is in it for mutual fund investors?

  • A slew of liquidity measures announced in the policy.
  • The 10-year government bond yield, considered the Sensex of bond market, fell by 10 basis points (100 basis points = 1%) after the policy.
  • It simply means that it is a positive policy for your investments in both equity and debt mutual funds.
  • As for debt funds, you may continue to bet on short-term debt funds, banking & PSU funds, and corporate bond funds for your short to medium needs.
  • Though long-term funds and gilt funds may benefit from the accommodative policy stance, invest in them only if you have a longer investment horizon and stomach for volatility.

RTGS to be available 24x7x365 from Dec 2020

Under the current rules, the transfers can be made between 7 AM and 6 PM on all working days except for the second and fourth Saturday of the month and on Sundays.

  • What is RTGS?

RTGS stands for Real Time Gross Settlement. The facility is used to transfer large money sums from one bank account to another. As per the RBI’s FAQs, the minimum amount that can be remitted through RTGS is Rs 2 lakh with no upper or maximum ceiling. However, banks usually have an upper ceiling of Rs 10 lakh.

  • How does RTGS transfer work?

Under the scheme, there is continuous and real-time settlement of fund transfers individually on a transaction by transaction basis. ‘Real Time’ means the processing of instructions at the time they are received; ‘Gross Settlement’ means that the settlement of funds transfer instructions occurs individually.

India’s already-high inflation likely climbed further in September: Reuters Poll

  • The Oct. 6-8 Reuters poll of 47 economists suggested consumer prices rose 6.88% last month from a year ago, its highest in five months and faster than August’s 6.69% rate.
  • If realised, inflation would be above the top end of the RBI’s medium-term target range of 2%-6% for the sixth consecutive month.

Revised regulatory limits for retail portfolio of banks

  • Under the extant framework, the maximum aggregated retail exposure to one counterparty should not exceed the absolute threshold limit of Rs 5 crore.
  • In order to facilitate higher credit flow to this segment, which mainly consists of individuals and small businesses (i.e. with turnover of upto Rs 50 crore) it has been decided to increase this threshold to Rs 7.5 crore in respect of all fresh as well as incremental qualifying exposures.
  • This measure is expected to expand credit flow to small businesses.

Rupee gains 21 paise after RBI keeps key rates unchanged

  • MPC decided to kept repo rate unchanged at 4 per cent but maintained an accommodative stance.
  • This indicates that the market may see rate cuts in the future if the need arises to support the economy hit by the Covid-19 crisis.
  • Consequently, the reverse repo rate will also continue to earn 3.35 per cent for banks for their deposits kept with RBI.

How Banks are reacting to RBI’s status quo

Price as on 09 Oct, 2020 11:04 AM, Click on company names for their live prices.

Review of the Co-origination Model

  • In 2018, the RBI put in place a framework for co-origination of loans by banks and a category of Non Banking Financial Companies (NBFCs) for lending to the priority sector, subject to certain conditions.
  • It has been decided to extend the scheme to all NBFCs, including HFCs, in respect of all eligible priority sector loans, and allow greater operational flexibility to the lending institutions.
  • This “Co-Lending Model” is expected to leverage the comparative advantages of banks and NBFCs in a collaborative effort, and improve the flow of credit to the unserved and underserved sectors of the economy.

RBI leaves repo rate unchanged: What this means for your EMIs, FDs

  • Borrowers who are facing salary cut/job loss due to the novel coronavirus pandemic situation and were looking for some reduction in their equated monthly instalment (EMI) burden will have to wait a little longer.
  • On the other hand, no change in policy rates means good news for fixed deposit (FDs) investors as banks may go slow on cutting interest rates on FDs.

RBI MPC Meeting: All you need to know

  • RTGS system for real-time fund transfer to become 24X7 from December
  • All new housing loans risk will be linked only to loan to value
  • Ways & Means Advance (WMA) limit for the Centre kept at Rs 1.25 lakh crore
  • RBI announces on-tap TLTRO for Rs 1 trillion at 4% till March 2021
  • RBI to conduct OMO worth Rs 20,000 crore next week
  • RBI sees GDP for FY21 contracting 9.5% with chances of strong rebound
  • Inflation likely to ease to projected target by Q4 of FY’21
  • Reverse repo rate remains unchanged at 3.35%
  • RBI Keeps Repo Rate unchanged at 4%
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