Thursday, March 05, 2015 | UPDATED 02:33 IST
FLASH
  • Excise policy announced; liquor to cost more in Haryana
  • In biggest acquisition in defence, Reliance Infra buys Pipavav Defence for Rs 819 crore
  • Acid attack on state-level woman player of Gurdaspur
  • Cong accuses PM of making false claims in Rajya Sabha yesterday while replying to Prez address
  • Haryana Board Class 12 English paper leaked, cancelled; was to be held today; new date later
  • Restraint on broadcasting of interview of Dec 16 gangrape convict to continue till further orders: Delhi court
  • Delhi HC allows plea of Uber cab rape case accused to recall 13 prosecution witnesses

RBI rate cut to reduce home, auto loan EMIs

Low inflation prompts move | Sensex soars to 30,00005 Mar 2015 | 2:25 AM

Sanjeev Sharma Tribune News Service New Delhi, March 4 The Reserve Bank of India (RBI) today cut the benchmark interest rate by 25 basis points, which is expected to reduce equated monthly instalments (EMI) on home and auto loans.

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Sanjeev Sharma

Tribune News Service

New Delhi, March 4

The Reserve Bank of India (RBI) today cut the benchmark interest rate by 25 basis points, which is expected to reduce equated monthly instalments (EMI) on home and auto loans.

The RBI’s decision to cut its policy or repo rate to 7.5 per cent — after another cut from 8 per cent to 7.75 per cent on January 15 — sent the benchmark BSE Sensex soaring to the historic 30,000-mark in opening trade.

The move, prompted by inflation remaining low, comes within days of Finance Minister Arun Jaitley announcing in the Union Budget that the government was committed to fiscal consolidation.

RBI Governor Raghuram Rajan said the rate cut was prompted by low inflation and fiscal consolidation in the Budget. He said with the release of the agreement on the monetary policy framework, it was appropriate for the RBI to offer guidance on how it would implement the mandate. For the second time in two months, the rate cut has come outside the monetary policy. The two cuts now mean that the RBI has cut 50 basis points in two months and since last time the cuts had not really been passed on, the additional cut will give more incentive to the banks to reduce rates on loans.

The Finance Ministry has welcomed the RBI decision to cut policy rate by 0.25 per cent and said it would bring down EMIs, increase demand and boost economic growth.

"What is going to happen to rate cycle moving forward is going to be driven by data and the RBI has signaled this clearly," Minister of State for Finance Jayant Sinha said.

Post outrage, film on Nirbhaya convict banned

Post outrage, film on Nirbhaya convict banned

05 Mar 2015 | 2:25 AM

NEW DELHI: The Delhi High Court today upheld the stay on telecast of a documentary based on an interview with a convict in the December 16 Nirbhaya gang-rape case.

Punjab to lose Rs 100 cr on VAT cut

05 Mar 2015 | 2:25 AM

CHANDIGARH: Notwithstanding the fall in revenue, the Punjab Cabinet today approved Value Added Tax (VAT) rationalisation for scores of goods.

AAP sacks Bhushan, Yadav from key panel

05 Mar 2015 | 2:25 AM

NEW DELHI: The Aam Aadmi Party (AAP) today sacked senior leaders Prashant Bhushan and Yogendra Yadav from its top decision-making body, after weeks of infighting that pitted the two against Chief Minister Arvind Kejriwal.

Punjab first to set up own Bureau of Investigation

05 Mar 2015 | 2:25 AM

CHANDIGARH: Deputy Chief Minister Sukhbir Singh Badal launc-hed the state Bureau of Investigation (BoI) at the police headquarters here today.

Come April, liquor to cost more in Haryana

05 Mar 2015 | 2:25 AM

CHANDIGARH: Boozers will have to shell out more for every bottle of liquor they consume in Haryana from April 1 with the state Cabinet giving its nod, affecting a “marginal” hike of 5 to 10 per cent under the new Excise policy here today, while raising the bar licence fee.

Free political prisoners: Mufti to DGP

05 Mar 2015 | 2:25 AM

JAMMU: Chief Minister Mufti Mohammad Sayeed today directed state Director General of Police (DGP) K Rajendra to initiate a process of releasing all political prisoners, mostly separatists in the Kashmir Valley, against whom no criminal charges are registered.


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CITY FOCUS

Mayor's post reserved for women

Mayor's post reserved for women

05 Mar 2015 | 2:05 AM

MOHALI: The Punjab Government today decided to reserve the post of Mohali Mayor for a woman candidate.

NoA file photo showing huge rush of applicants at tehsil office for getting their registries done in Jalandhar. Tribune Photo: Malkiat Singh

Rs 100-cr stamp duty evasion unearthed

05 Mar 2015 | 1:10 AM

JALANDHAR: A survey got conducted by the Revenue Department through two private firms for assessing undervalued registries in 12 tehsils hints at a huge evasion of stamp duty in the state.

No

State’s contaminated food chain a worry

05 Mar 2015 | 1:10 AM

CHANDIGARH: Punjab, the country’s food basket, has slowly turned into the land of toxicity. Excessive use of pesticides and fertilisers by farmers and a largely indifferent establishment has over the years resulted in severe ecological and environmental degradation that has brought a host of maladies such as contaminated water resources.

No

More CCTV cameras along border: Farooqui

05 Mar 2015 | 1:10 AM

AMRITSAR: The Border Security Force (BSF) will install more CCTV cameras at vulnerable sites along the India-Pakistan border to check drug trafficking.

Six-laning of Panipat-Jalandhar NH-1 to miss another deadline

Six-laning of Panipat-Jalandhar NH-1 to miss another deadline

05 Mar 2015 | 1:49 AM

AMBALA: With more than 28 km of flyovers yet to be constructed on the 272 km stretch of the Panipat-Jalandhar section, the project to six-lane the NH1 will likely miss the March 31 deadline set by the Supreme Court.

Snapped cables leave half of state powerless

Snapped cables leave half of state powerless

05 Mar 2015 | 12:51 AM

SHIMLA: Around half of Himachal, especially villages in the higher reaches, remained without electricity after overhead transmission lines suffered extensive damage following heavy snow in the region since Sunday.

Jammu’s lifeline Tawi to get new lease of life

Jammu’s lifeline Tawi to get new lease of life

05 Mar 2015 | 1:08 AM

JAMMU: The lifeline of Jammu, Tawi, also known as “Suryaputri”, may get a new lease of life in days to come as the newly formed PDP-BJP coalition government has decided to launch a “special initiative” to clean and beautify it on the pattern of the Ganga under the Prime Minister’s Regional Development Plan (PMDRP).

Rehabilitate slum dwellers: MAD

Rehabilitate slum dwellers: MAD

05 Mar 2015 | 12:52 AM

DEHRADUN: Dehradun’s student activist group “Making a Difference by Being the Difference” (MAD) has expressed resentment over the ongoing slum politics in Dehradun.

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Fiery Warner sends Afghans flying

05 Mar 2015 | 2:30 AM

Afghanistan were competitive for about five overs in the game.

Abused journalist complains to BCCI, ICC

05 Mar 2015 | 2:33 AM

The controversy surrounding Virat Kohli's abusive behaviour with an Indian journalist refused to subside on Wednesday despite the team management's efforts to play it down with complaints being made to the ICC and BCCI about the episode.

No

No hot favourites for Gilchrist

05 Mar 2015 | 2:30 AM

PERTH: Adam Gilchrist, one of the rare three-time winners of the World Cup, says that the thriller between Australia and New Zealand, won by the latter, has opened up the tournament.

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