! 1 1 #1 # 1 &'% + *%+-& # + ),&*' ! " $ $ 0*-(.& 0*.&/ Curfew continues, 141 arrested so far INVESTOR WEALTH tumbles Rs 6.27L cr Home, auto and other loan EMIs are likely to increase after the Reserve Bank of India (RBI) hiked its key interest rate by 40 bps in a surprise move on Wednesday in an effort to tame inflation that has remained stubbornly above target in recent months. The increase in repo rate - the rate at which RBI lends to commercial banks - to 4.40 per cent from a record low of 4 per cent is the first since August 2018 as well as the first instance of the RBI Gover- nor-headed monetary policy committee (MPC) holding an unscheduled meeting for raising interest rates. The RBI also hike the cash reserve ratio (CRR) by 50 basis points to 4.5 per cent, which will now require banks to park more money with the central bank and leave them with less to loan to consumers. This would drain Rs 87,000 crore of liquidity from the banking system, RBI Governor Shaktikanta Das said in a video address announcing the rate hike decision. He, however, did not mention anything about the reverse repo rate and hence it remains the same at 3.35 per cent. The standing deposit facility rate is now at 4.15 per cent while the marginal standing facility rate and bank rate stand at 4.65 per cent. The MPC retained its accommodative monetary policy stance - meaning it can cut interest rates to support growth - at a time when globally inflation is rising alarmingly. 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Gavai said that it will place the matter for hearing and the decision of the President would not have any bearing on it, and it will examine the issue raised by the petitioner. Te top court asked the Centre to bring on record the referral order of the Governor and scheduled the matter for further hear. ing the next Tuesday (May 10). It has to decide the matter fast since the court is proceeding on vacation from May 23. On the Tamil Nadu Governor referring the Perarivalan's mercy plea to the President for a decision, the Supreme Court said that under Article 161 of the Constitution, the Governor was bound by the aid and advice given by the Tamil Nadu Council of Ministers. In September 2018, the Council of Ministers of Tamil Nadu had recommended Perarivalan's release. Holding that the governor had no authority to transfer the mercy plea to the President, the Court said there cannot be any discrimination by it against Perarivalan who has already served close to 30 years in prison, while in the past, the court had passed judgments in favour of life convicts who have served over 20 years of their sentence. Additional Solicitor General KM Nataraj, representing the Centre, contended that the Governor has referred the mercy plea to the President, and if the President refers it back to the Governor, then there is no need to discuss this issue at all. He added that the President will decide if the Governor could have referred the file to him or not. sures are becoming more acute, particularly on food, Das said, adding that there is a risk if prices stay at this level for "too long" and expectations become unanchored. "Inflation must be tamed in order to keep the Indian economy resolute on its course to sustained and inclusive growth," he said. Increases in fuel and food prices, exacerbated by the war in Ukraine and sustained pandemic-related supply chain disruptions, have been above the RBI comfort zone of 2-6 per cent for three months in a row. Headline inflation in March rose to a 17-month high of 6.95 per cent and it may be above the target band in April too. RANA COUPLE GETS BAIL More than a week after they were arrested in an alleged case of sedition, Amravati MP Navneet Rana and her husband and MLA Ravi Rana were granted bail by a court here on Wednesday . While the Independent legislator couple from eastern Maharashtra were yet to be released from prison, a team of the Brihanmumbai Municipal Corporation (BMC) visited their flat in Mumbai for inspection of alleged illegal construction. Navneet and her husband Ravi Rana, MLA from Badnera in Amravati district, were likely to be released on Thursday as necessary documents did not reach the prisons where they are lodged in time, their lawyers said. The couple were arrested by Mumbai Police on April 23. The Ranas had announced that they would recite the Hanuman Chalisa outside Maharashtra Chief Minister Uddhav Thackerresidence private ay's `Matoshree' here, which angered workers of the Shiv , Sena, Thackeray's party leading to tension. The couple later dropped the plan, citing visit by the Prime Minister Narendra . Modi to city the next day BCCI bans journalist for 2 yrs for intimidating Wriddhiman Saha The BCCI has imposed a two-year ban on journalist Boria Majumdar for "bullying" senior wicketWriddhiman keeper Saha and barred him from interviewing registered players and entering cricket stadiums in the . country Boria is also barred from seeking access to any of BCCI and members associations owned cricket facilities. In February, Saha (37), who had been dropped from the Indian team for the Test series against Sri Lanka, had taken to twitter to publish a screenshot of messages that a "respected" journalist had sent him on WhatsApp. The screenshot had the unnamed journalist telling the cricketer "to do an interview with me", to which Saha did not respond. The messages eventually became shrill in tone: "You did not call. Never again will I interview you. I don't take insults . kindly And I will remember this. This wasyou something n't should have done." , Apparently the journalist had taken offense at the wicketkeeper-batter for ignoring his calls for an interview. The issue escalated after former players like Ravi Shastri, Parthiv Patel, Harbhajan Singh and Virender Sehwag, among others, joined in the criticism of the journalist. Carrying the souls of departed relatives in a flame! Patients and their kin visiting the district hospital in Neemuch were surprised when they saw family members of one Raju Mangilal, who died a year back due to corona performing some rituals at hospital premises. When they inquired, relatives and seers told them that they are performing 'Anokhi Gatla' ritual as it will help them to take Raju's soul in the form of flame to their place in Luhariya Chundawat in Singoli tehsil of Neemuch district. Not only the family members of Raju, but five to six relatives of one 32- year-old Govind Valmiki, a native of Chittorgarh, Rajasthan were seen performing the same ritual at the hospital. They believe the ritual will help the departed souls to attend salvation. Notably, the district hospital premises is witnessing such rituals for the past few days. Eyewitnesses claimed that in the last couple of days, in about 5 to 6 cases, relatives from different villages reached the district hospital from where the flame was taken to their native places after doing tantramantra. The situation in violenceremained Jodhpur hit peaceful on Wednesday and curfew in 10 areas of the city continued. The police have registered 13 FIRs and arrested 141 people in connection with violence in the city. Meanwhile, blame game has also started as CM Ashok Gehlot has said Curfew lifted in violence-hit Khargone The administration in Madhya Pradesh's Khargone lifted the curfew with immediate effect on Wednesday evening, 24 days after it was imposed following violence during a Ram Navami procession on April 10, an official said. The prohibitory orders and all other restrictions were also removed, he said. Govt to build start-up park in Indore for Rs 450 cr 14 held in Seoni mob lynching incident STATE GOVT is working on presenting its start-up policy on May 13 In a bid to promote startups, the Madhya Pradesh government will construct a start-up park at an estimated cost of Rs 450 crore in Indore city a senior offi, . cial said on Wednesday The Indore Development Authority (IDA) has invited global tenders for architectural consultancy and master planning to set up the start-up park on 20-acre land on super corridor in the city IDA chief execu, tive officer (CEO) Vivek Shotriya said. Under the first phase, a multi-storey complex will be constructed at an estimated cost of Rs 450 crore, he said, adding that the IDA will allot spaces to start-up entrepreneurs on lease by charging a fixed amount. According to officials, the state government is working on presenting its startup policy on May 13. "Though, the final programme has not been decided as yet, we are trying that Prime Minister Narendra Modi will give us time to launch the start-up policy virtually Indore's BJP ," MP Shankar Lalwani said. Earlier, Chief Minister Shivraj Singh Chouhan had on April 29 said that the state government will soon present a start-up policy to provide capital to finance innovative ideas of young entrepreneurs. According to business insiders, there are 450 startups in Indore at present and nearly 250 more will start their operations soon. Seoni Police have arrested 14 persons in connection with the death of two tribal men who were allegedly assaulted by a group of people over suspicion of cow slaughter in Simaria village under Kurai police station, an official said on Wednesday. The state government have issued orders to provide financial assistance and government job to one of the family members of the victims. Two tribal men died on Tuesday morning after some people, allegedly belonging to the Bajrang Dal, beat them up over suspicion of cow slaughter in Simaria village under Kurai police station limits. PANNA FARMER MINES 11.88 CARAT DIAMOND A farmer in Madhya Pradesh had a great stroke of luck as he stumbled upon a 11.88 carat good quality diamond in a small, leased mine in Panna, famous for diamond mines. The small-time farmer, Pratap Singh Yadav, who also works as a labourer, found this diamond from a mine in Patti area in the district, diamond officer Ravi Patel told reporters on Wednesday This good . quality diamond will be put up for sale in the upcoming auction and the price will be fixed as per the government guidelines. Talking to reporters, Yadav said, "I am a poor man with a small agricultural land. I also work as a labourer. I have been working hard in this mine for the past three months and got this diamond and deposited it to the Diamond Office." The money received from the auction of this diamond will be used for setting up a business and to fund the education of his children. According to private estimates, the diamond may fetch more than Rs 50 lakh at the auction. Officials said that the raw diamond would be auctioned and the proceeds would be given to the farmer after deduction of the government royalty and taxes. Panna district is estimated to have diamond reserves of 12 lakh carats.