General Affairs
BJP Jan Raksha Yatra: Why bringing Adityanath to Kerala is an Amit Shah masterstroke
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Uttar Pradesh Chief Minister Yogi Adityanath today is taking part in BJP's Jan Raksha Yatra (March for People's Protection) in Kerala. The yatra was launched by BJP chief Amit Shah on Tuesday from Payyannur in Kannur district of Kerala.
Adityanath's participation in the BJP's Kerala march may indicate that the party is also likely to use the Uttar Pradesh template in the southern state.
The yatra is a show of strength by the BJP to protest against the murders and incidents of lynching of BJP and RSS cadres allegedly by the ruling Left cadres in the state. On reaching Kerala to take part in the march, Adityanath said people need to be made aware of the political killings if they are taking place under political patronage.
By raising the political killings in Kerala under "political patronage", the BJP is aiming to achieve the three objectives that were also highlighted in the run-up to the UP Assembly elections held earlier this year.
LAW AND ORDER
Launching the Jan Raksha Yatra on October 3, Amit Shah said that more than 84 BJP and RSS workers had been killed in Kannur alone and 120 of them murdered in the state since 2001.
By highlighting the issue of the murder of BJP and RSS cadres, the BJP is trying to hit out at the law and order situation in the state headed by Chief Minister Pinarayi Vijayan.
In Uttar Pradesh too, the BJP had targeted the then ruling Samajwadi Party government led by Akhilesh Yadav on the law and order situation in the state. It had sought to bring into focus the "excesses" committed by the Samajwadi Party workers on the common man.
The BJP would allege that the police stations were run not by the police, but by Samajwadi Party workers and leaders.
POLARISATION
Power in Kerala has rotated between the ruling CPM-led Left Democratic Front (LDF) and the Congress-led United Democratic Front (UDF). By alleging that 120 BJP and RSS cadres have been murdered since 2001, Amit Shah attempted to discredit both the governments.
In a bid to polarise votes, Yogi Adityanath said one of the issues that the BJP was protesting against love jihad in Kerala and Karnataka. Love jihad drew focus when the Kerala High Court annulled Akhila's marriage to a Muslim. Akhila, a Hindu woman, had converted to Islam. Her father had filed a habeus corpus petition in the high court.
The BJP is clearly seeking to make political killings an issue of ideological war. The right-wing party is trying to consolidate the Hindu voters who account for 54.73 per cent of the state's population as against 26.56 per cent Muslims and 18.38 per cent Christians, as per the 2011 Census.
The LDF and UDF bank largely on the Muslim and Christian voters and a large chunk also of the Hindus to come to power. The BJP is seeking to upset this equation and garner the support of the majority Hindus to become a force to reckon with in 'God's Own Country'.
In UP too, the BJP had played the communal polarisation card to unite Hindus, including the Dalits, who constitute more than 20 per cent of the state's population and were ardent supporters of the Mayawati-led Bahujan Samaj Party (BSP).
Even Prime Minister Narendra Modi had helped polarise votes by raking up issues like Muslim graveyards versus Hindu cemeteries and Eid versus Diwali.
GALVANISING CADRES
The BJP is seeking to endear itself to the party and RSS cadres by taking up the cause of their security on such a large scale. The Jan Raksha Yatra will cover 11 of the 14 districts in Kerala. It will culminate in state capital Thiruvananthapuram on October 17. Amit Shah is expected to remain present on the concluding day.
Apart from Yogi Adityanath, senior Union ministers including Home Minister Rajnath Singhand chief ministers of BJP-ruled states, will also join and address the march.
This is sure to boost the morale of the Sangh Parivar cadres. The BJP would only hope this, in turn, would help the party during the 2019 Lok Sabha and 2021 Assembly elections.
Amit Shah is known for according importance to party cadres. In UP Assembly elections too, he had laid emphasis on the booth-level workers, by meeting them and holding meetings with them.
The BJP, which has just one member in the 140-seat Kerala Assembly, had garnered 15 per cent of the votes polled during the 2016 Assembly elections and 10 per cent in the 2014 Lok Sabha polls. It is seeking to cross the 20 per cent threshold to become a third force in the southern state.
Uttar Pradesh Chief Minister Yogi Adityanath today is taking part in BJP's Jan Raksha Yatra (March for People's Protection) in Kerala. The yatra was launched by BJP chief Amit Shah on Tuesday from Payyannur in Kannur district of Kerala.
Adityanath's participation in the BJP's Kerala march may indicate that the party is also likely to use the Uttar Pradesh template in the southern state.
The yatra is a show of strength by the BJP to protest against the murders and incidents of lynching of BJP and RSS cadres allegedly by the ruling Left cadres in the state. On reaching Kerala to take part in the march, Adityanath said people need to be made aware of the political killings if they are taking place under political patronage.
By raising the political killings in Kerala under "political patronage", the BJP is aiming to achieve the three objectives that were also highlighted in the run-up to the UP Assembly elections held earlier this year.
LAW AND ORDER
Launching the Jan Raksha Yatra on October 3, Amit Shah said that more than 84 BJP and RSS workers had been killed in Kannur alone and 120 of them murdered in the state since 2001.
By highlighting the issue of the murder of BJP and RSS cadres, the BJP is trying to hit out at the law and order situation in the state headed by Chief Minister Pinarayi Vijayan.
In Uttar Pradesh too, the BJP had targeted the then ruling Samajwadi Party government led by Akhilesh Yadav on the law and order situation in the state. It had sought to bring into focus the "excesses" committed by the Samajwadi Party workers on the common man.
The BJP would allege that the police stations were run not by the police, but by Samajwadi Party workers and leaders.
POLARISATION
Power in Kerala has rotated between the ruling CPM-led Left Democratic Front (LDF) and the Congress-led United Democratic Front (UDF). By alleging that 120 BJP and RSS cadres have been murdered since 2001, Amit Shah attempted to discredit both the governments.
In a bid to polarise votes, Yogi Adityanath said one of the issues that the BJP was protesting against love jihad in Kerala and Karnataka. Love jihad drew focus when the Kerala High Court annulled Akhila's marriage to a Muslim. Akhila, a Hindu woman, had converted to Islam. Her father had filed a habeus corpus petition in the high court.
The BJP is clearly seeking to make political killings an issue of ideological war. The right-wing party is trying to consolidate the Hindu voters who account for 54.73 per cent of the state's population as against 26.56 per cent Muslims and 18.38 per cent Christians, as per the 2011 Census.
The LDF and UDF bank largely on the Muslim and Christian voters and a large chunk also of the Hindus to come to power. The BJP is seeking to upset this equation and garner the support of the majority Hindus to become a force to reckon with in 'God's Own Country'.
In UP too, the BJP had played the communal polarisation card to unite Hindus, including the Dalits, who constitute more than 20 per cent of the state's population and were ardent supporters of the Mayawati-led Bahujan Samaj Party (BSP).
Even Prime Minister Narendra Modi had helped polarise votes by raking up issues like Muslim graveyards versus Hindu cemeteries and Eid versus Diwali.
GALVANISING CADRES
The BJP is seeking to endear itself to the party and RSS cadres by taking up the cause of their security on such a large scale. The Jan Raksha Yatra will cover 11 of the 14 districts in Kerala. It will culminate in state capital Thiruvananthapuram on October 17. Amit Shah is expected to remain present on the concluding day.
Apart from Yogi Adityanath, senior Union ministers including Home Minister Rajnath Singhand chief ministers of BJP-ruled states, will also join and address the march.
This is sure to boost the morale of the Sangh Parivar cadres. The BJP would only hope this, in turn, would help the party during the 2019 Lok Sabha and 2021 Assembly elections.
Amit Shah is known for according importance to party cadres. In UP Assembly elections too, he had laid emphasis on the booth-level workers, by meeting them and holding meetings with them.
The BJP, which has just one member in the 140-seat Kerala Assembly, had garnered 15 per cent of the votes polled during the 2016 Assembly elections and 10 per cent in the 2014 Lok Sabha polls. It is seeking to cross the 20 per cent threshold to become a third force in the southern state.
Need to recognise people who spread negativity: PM Modi on critics of govt
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In the midst of growing uproar against the government by the Opposition, Prime Minister Narendra Modi today silenced the critics of his government at an event in ICSI in Delhi.
Prime Minister Narendra Modi, while addressing company secretaries at the inauguration of Golden Jubilee Year of the ICSI in Delhi, said that after demonetisation, cash to GDP ratio has come down to nine per cent. He said that before November 8 last year it was 12 per cent.
He also targeted the previous UPA government saying that during its tenure there were 8 instances when GDP was below 5.7 per cent.
"There are some people who sleep well only after they spread a feeling of pessimism all around. We need to recognise such people," said PM Modi in a veiled attack on the Opposition.
HERE ARE THE LIVE UPDATES:
- Will you assure that by 2022 our society will be tech complaint and there will be no shell companies: PM Modi to Company Secretaries
- We have cancelled the registration of two lakh shell companies and no one protested because they were fake companies: PM Modi
- Corruption is the biggest enemy of the country: PM Modi
- We are trying to bring more and more people into formal economy: PM Modi
- This is the time of a big transformation, the importance of honest and transparent governance is being realized: PM Modi
- Middle class families are saving thousands of rupees every year because of schemes like Ujwala: PM Modi
- FDI is at all time high because of confidence in the policies government. Above all, because of confidence in our intentions: PM Modi
- I will not let the present problems jeopardise the future of the country: PM Narendra Modi
- Government understands the value of your hard earned money, our policies and schemes are focused at bettering life of poor and middle class: PM Modi
- Those harping about reform should know that we have made 87 reforms in about 21 sectors: PM Modi
- There has been an increase in auto sales, air traffic, air freight and telephone subscribers: PM Modi
- I assure that the steps being taken by the government will put the country in a new league of development: PM Narendra Modi
- On GST, PM Modi said that he had directed the GST council to review the problems faced by traders and that the government is willing to make changes as per suggestions.
In the midst of growing uproar against the government by the Opposition, Prime Minister Narendra Modi today silenced the critics of his government at an event in ICSI in Delhi.
Prime Minister Narendra Modi, while addressing company secretaries at the inauguration of Golden Jubilee Year of the ICSI in Delhi, said that after demonetisation, cash to GDP ratio has come down to nine per cent. He said that before November 8 last year it was 12 per cent.
He also targeted the previous UPA government saying that during its tenure there were 8 instances when GDP was below 5.7 per cent.
"There are some people who sleep well only after they spread a feeling of pessimism all around. We need to recognise such people," said PM Modi in a veiled attack on the Opposition.
HERE ARE THE LIVE UPDATES:
- Will you assure that by 2022 our society will be tech complaint and there will be no shell companies: PM Modi to Company Secretaries
- We have cancelled the registration of two lakh shell companies and no one protested because they were fake companies: PM Modi
- Corruption is the biggest enemy of the country: PM Modi
- We are trying to bring more and more people into formal economy: PM Modi
- This is the time of a big transformation, the importance of honest and transparent governance is being realized: PM Modi
- Middle class families are saving thousands of rupees every year because of schemes like Ujwala: PM Modi
- FDI is at all time high because of confidence in the policies government. Above all, because of confidence in our intentions: PM Modi
- I will not let the present problems jeopardise the future of the country: PM Narendra Modi
- Government understands the value of your hard earned money, our policies and schemes are focused at bettering life of poor and middle class: PM Modi
- Those harping about reform should know that we have made 87 reforms in about 21 sectors: PM Modi
- There has been an increase in auto sales, air traffic, air freight and telephone subscribers: PM Modi
- I assure that the steps being taken by the government will put the country in a new league of development: PM Narendra Modi
- On GST, PM Modi said that he had directed the GST council to review the problems faced by traders and that the government is willing to make changes as per suggestions.
National anthem a 'must' in madrasas, Allahabad HC backs Yogi Adityanath govt's order
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Allahabad HC has backed the Yogi Adityanath-led Uttar Pradesh government's order to sing national anthem in madrasas. The court today said it is a mandate for every madrasa to do so.
The court's ruling said that everyone should respect the national anthem and the national flag.
Allahabad HC has also rejected the plea seeking relief for madrasas in Uttar Pradesh from singing the national anthem.
Yogi government on the occasion of Independence Day passed an order demanding a mandatory national anthem and flag hoisting in madrasas.
On Independence Day, a circular was issued by UP Madarsa Shiksha Parishad to district minority welfare officers stating that along with photographs, videos be shot of the event. They were ordered that government officials would take the videos and keep with them as a proof.
The government also asked madarsas affiliated to the Uttar Pradesh Madarsa Shiksha Parishad to pay tribute to freedom fighters and organise cultural programmes on August 15.
Many felt that the government's order was an attempt to test their 'patriotism' and found it offensive.
In the past, madrasas were directed to hoist the national flag and recite the national anthem.
At present, around 8,000 madrasas in Uttar Pradesh come under the parishad. Among these, 560 are fully aided by the state.
After the government's order, a plea seeking relief was also submitted in the court, which has now been rejected by the Allahabad court.
Allahabad HC has backed the Yogi Adityanath-led Uttar Pradesh government's order to sing national anthem in madrasas. The court today said it is a mandate for every madrasa to do so.
The court's ruling said that everyone should respect the national anthem and the national flag.
Allahabad HC has also rejected the plea seeking relief for madrasas in Uttar Pradesh from singing the national anthem.
Yogi government on the occasion of Independence Day passed an order demanding a mandatory national anthem and flag hoisting in madrasas.
On Independence Day, a circular was issued by UP Madarsa Shiksha Parishad to district minority welfare officers stating that along with photographs, videos be shot of the event. They were ordered that government officials would take the videos and keep with them as a proof.
The government also asked madarsas affiliated to the Uttar Pradesh Madarsa Shiksha Parishad to pay tribute to freedom fighters and organise cultural programmes on August 15.
Many felt that the government's order was an attempt to test their 'patriotism' and found it offensive.
In the past, madrasas were directed to hoist the national flag and recite the national anthem.
At present, around 8,000 madrasas in Uttar Pradesh come under the parishad. Among these, 560 are fully aided by the state.
After the government's order, a plea seeking relief was also submitted in the court, which has now been rejected by the Allahabad court.
It will be baptism by fire for Rahul Gandhi as Congress president before 2019
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The news of Rahul Gandhi's likely coronation as the president of Congress coincided with the CPM politburo ruling out a proposal to consider an alliance with the Congress and other Opposition parties ahead of the 2019 Lok Sabha elections.
While the CPM will take a final decision on the same at the party congress in Hyderabad, in April next year, Rahul Gandhi's task is cut out from day one--to hit the ground running and stitch a Grand Alliance to check the Modi-Shah juggernaut in 2019.
While Sonia Gandhi is known for her ability to reach out to parties and build consensus on issues when needed, Rahul Gandhi's skills will be put to test especially after the Bihar episode where Nitish Kumar walked out of the Grand Alliance with Lalu Prasad's Rashtriya Janata Dal (RJD) and the Congress.
Nitish Kumar, who had met Rahul days before he walked out of the alliance, attacked the Congress vice-president for not doing enough to save the Grand Alliance. Earlier, Himanta Biswa Sarma, who quit the Congress and later became the chief architect of the BJP's win in Assam in 2016, had accused Rahul of not being a serious party leader and had famously said that he has time for dogs but not for the party.
It will be baptism by fire for Rahul Gandhi who will take over the Congress at a time when it has only 44 seats in Lok Sabha, the party's lowest tally ever. Many senior leaders have quit the party, the most recent being Shankersinh Vaghela in Gujarat and Narayan Rane in Maharashtra.
Besides keeping the Congress flock together, the 47-year-old MP from Amethi has little time in hand to get Opposition parties together before the 2019 Lok Sabha election.
In Uttar Pradesh, the political heartland of India, Rahul Gandhi enjoys a favourable rapport with Samajwadi Party chief Akhilesh Yadav. However, the disastrous performance of the Samajwadi Party-Congress alliance in the Assembly election shows a need for recalibration of the electoral strategy besides reaching out to more parties for support.
Further, the on-off fight between Akhilesh Yadav and father Mulayam Singh Yadav had hurt the party's prospects in the Assembly election. On the other hand, Bahujan Samaj Party (BSP) chief Mayawati has made it clear that talks on alliance can proceed after seat-sharing arrangement is finalised.
While the Congress under Sonia Gandhi led talks on the need for building a Grand Alliance before 2019, the party has kept Arvind Kejriwal-led Aam Aadmi Party at an arm's length so far.
At a lunch for Opposition leaders hosted by Sonia Gandhi before the presidential election, Arvind Kejriwal was not invited. West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee, who has repeatedly stressed on the need for Opposition parties to come together to stop the BJP in 2019, has made it known that Kejriwal too should be roped in.
If Rahul Gandhi indeed manages to bring parties like the AAP under the united Opposition umbrella, it can help him silence critics who have questioned his skills at forging alliances after the Bihar disaster.
It remains to be seen if Rahul Gandhi steps up to the plate and gets a Congress-led Opposition ready in time for the big battle with the BJP in 2019.
The news of Rahul Gandhi's likely coronation as the president of Congress coincided with the CPM politburo ruling out a proposal to consider an alliance with the Congress and other Opposition parties ahead of the 2019 Lok Sabha elections.
While the CPM will take a final decision on the same at the party congress in Hyderabad, in April next year, Rahul Gandhi's task is cut out from day one--to hit the ground running and stitch a Grand Alliance to check the Modi-Shah juggernaut in 2019.
While Sonia Gandhi is known for her ability to reach out to parties and build consensus on issues when needed, Rahul Gandhi's skills will be put to test especially after the Bihar episode where Nitish Kumar walked out of the Grand Alliance with Lalu Prasad's Rashtriya Janata Dal (RJD) and the Congress.
Nitish Kumar, who had met Rahul days before he walked out of the alliance, attacked the Congress vice-president for not doing enough to save the Grand Alliance. Earlier, Himanta Biswa Sarma, who quit the Congress and later became the chief architect of the BJP's win in Assam in 2016, had accused Rahul of not being a serious party leader and had famously said that he has time for dogs but not for the party.
It will be baptism by fire for Rahul Gandhi who will take over the Congress at a time when it has only 44 seats in Lok Sabha, the party's lowest tally ever. Many senior leaders have quit the party, the most recent being Shankersinh Vaghela in Gujarat and Narayan Rane in Maharashtra.
Besides keeping the Congress flock together, the 47-year-old MP from Amethi has little time in hand to get Opposition parties together before the 2019 Lok Sabha election.
In Uttar Pradesh, the political heartland of India, Rahul Gandhi enjoys a favourable rapport with Samajwadi Party chief Akhilesh Yadav. However, the disastrous performance of the Samajwadi Party-Congress alliance in the Assembly election shows a need for recalibration of the electoral strategy besides reaching out to more parties for support.
Further, the on-off fight between Akhilesh Yadav and father Mulayam Singh Yadav had hurt the party's prospects in the Assembly election. On the other hand, Bahujan Samaj Party (BSP) chief Mayawati has made it clear that talks on alliance can proceed after seat-sharing arrangement is finalised.
While the Congress under Sonia Gandhi led talks on the need for building a Grand Alliance before 2019, the party has kept Arvind Kejriwal-led Aam Aadmi Party at an arm's length so far.
At a lunch for Opposition leaders hosted by Sonia Gandhi before the presidential election, Arvind Kejriwal was not invited. West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee, who has repeatedly stressed on the need for Opposition parties to come together to stop the BJP in 2019, has made it known that Kejriwal too should be roped in.
If Rahul Gandhi indeed manages to bring parties like the AAP under the united Opposition umbrella, it can help him silence critics who have questioned his skills at forging alliances after the Bihar disaster.
It remains to be seen if Rahul Gandhi steps up to the plate and gets a Congress-led Opposition ready in time for the big battle with the BJP in 2019.
Rajnish Kumar to take over as the new SBI chairman
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As Arundhati Bhattacharya's term as the chairperson of State Bank of India (SBI) is nearing an end, the government has named Rajnish Kumar as the new chairman for a three-year term.
Four SBI managing directors, Rajnish Kumar, PK Gupta, B Sriram and Dinesh Kumar Khar, were interviewed by the Banks Board Bureau for the top position.
Here is what you need to know about the chief of country's biggest bank:
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Rajnish Kumar joined SBI as a probationary officer in 1980.
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He went on to serve as the managing director and CEO of the SBI Captial Markets.
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In 2015, he took over as the MD, national banking group.
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Rajnish Kumar holds a master's degree in physics and is a good badminton player, according to a media report.
He will be facing a challenge of leading the bank at a time when it reels under huge stressed assets. In September, 2017 Kumar had said that he is hopeful the bank will be able to control fresh slippages.
Arundhati Bhattacharya was appointed as the first woman chairman of SBI in 2013.
According to a new notification issued by the Department of Personnel and Training (DopT), Rajnish Kumar will take over the position for three years starting from October 7, 2017.
As Arundhati Bhattacharya's term as the chairperson of State Bank of India (SBI) is nearing an end, the government has named Rajnish Kumar as the new chairman for a three-year term.
Four SBI managing directors, Rajnish Kumar, PK Gupta, B Sriram and Dinesh Kumar Khar, were interviewed by the Banks Board Bureau for the top position.
Here is what you need to know about the chief of country's biggest bank:
- Rajnish Kumar joined SBI as a probationary officer in 1980.
- He went on to serve as the managing director and CEO of the SBI Captial Markets.
- In 2015, he took over as the MD, national banking group.
- Rajnish Kumar holds a master's degree in physics and is a good badminton player, according to a media report.
He will be facing a challenge of leading the bank at a time when it reels under huge stressed assets. In September, 2017 Kumar had said that he is hopeful the bank will be able to control fresh slippages.
Arundhati Bhattacharya was appointed as the first woman chairman of SBI in 2013.
According to a new notification issued by the Department of Personnel and Training (DopT), Rajnish Kumar will take over the position for three years starting from October 7, 2017.
Business Affairs
RBI keeps repo rate unchanged at 6%; slashes FY18 growth forecast to 6.7%
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The Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 6 per cent, maintaining the status quo in its 4th bi-monthly monetary policy statement. RBI's decision today goes against the wishes of industry bodies and government which were looking for a rate cut to spur economic growth and private investment. The central bank also revised real GVA growth projection for 2017-18 down to 6.7 per cent from the August 2017 projection of 7.3 per cent.
Meanwhile, India Inc expressed its disappointment with the RBI's decision to hold key policy rates unchanged. "In context of the current industrial situation, we felt there was a need for a further cut in the repo rate. Growth conditions remain under strain which is reflected in the persistently weak investment activity and the first quarter GDP growth numbers," Ficci President Pankaj Patel said.
"While RBI in the policy statement cites inflationary pressures to remain a concern, Ficci feels that we need to give equal consideration to growth prospects," Patel added.
In a decision that was taken by a majority of 5 to 1, the Monetary Policy Committee (MPC) today decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent, RBI said in a statement. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent, RBI said in a statement.
The MPC expects inflation to rise from current level to 4.2 to 4.6 in the second half of this fiscal year. The teething problems related to Goods and Service Tax (GST) may get resolved in second half, RBI Governor Urjit Patel said during the press briefing following the MPC meet.
The six member monetary policy committee (MPC) left cash reserve ratio (CRR) unchanged at 4 per cent, but the statutory liquidity ratio (SLR) requirement was cut by 50 basis points to 19.5 per cent. The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent, RBI said.
RBI said that the GST implementation had an adverse impact, rendering prospects for the manufacturing sector uncertain in the short term. This may further delay the revival of investment activity, which is already hampered by stressed balance sheets of banks and corporates.
Some price revisions pending the Goods and Services Tax(GST) implementation have been taking place. There has been a broad-based increase in CPI inflation excluding food and fuel. International crude prices, which had started rising from early July, have firmed up further in September. Taking into account these factors, inflation is expected to rise from its current level and range between 4.2-4.6 per cent in the second half of this year, including the house rent allowance by the Centre, RBI pointed in its assessment.
Meanwhile, it was being speculated earlier that the central bank could keep interest rates unchanged on account of various reasons. Climbing retail inflation was one of them. The consumer price index (CPI), which the RBI tracks for adjusting its repo rate, moved up to 2.4 per cent in July and 3.36 per cent in August after going as low as 1.54 per cent in June. Current account deficit is also growing after reaching 0.7 per cent of GDP in the last financial year on the back of rise in higher imports of gold and crude value terms.
The ongoing talk of fiscal stimulus to push country's slowing GDP can impact the fiscal deficit numbers if the matching revenues through tax and non-tax is not generated, and RBI was expected to wait and watch for the government moves in this direction before taking a call on changing the key policy rates.
RBI had reduced the policy repo rate by 25 basis points in its third bi-monthly monetary policy review of 2017-18. In its last meeting, the members of the monetary policy committee voted for easing interest rates by 25 basis points with a neutral stance, favoured by a a fall in food and core inflation and lower economic growth.
Here's the assessment by the RBI in its Fourth Bi-monthly Monetary Policy Statement
CPI inflation excluding food and fuel also increased sharply in July and further in August, reversing from its trough in June 2017. The increase was broad-based in both goods and services. Housing inflation hardened further in August on account of higher house rent allowances for central government employees under the 7th central pay commission award. Inflation in household goods and services in health, recreation and clothing & footwear sub-groups increased.
On the services side, the picture remained mixed. Many indicators pointed to improved performance even as the services PMI continued in the contraction zone in August due to low new orders. In the construction segment, steel consumption was robust. In the transportation sector, sales of commercial and passenger vehicles as well as two and three-wheelers, railway freight traffic and international air passenger traffic showed significant upticks. However, cement production, cargo handled at major ports, domestic air freight and passenger traffic showed weak performance.
Retail inflation measured by year-on-year change in the consumer price index (CPI) edged up sequentially in July and August to reach a five month high, due entirely to a sharp pick up in momentum as the favourable base effect tapered off in July and disappeared in August. After a decline in prices in June, food inflation rebounded in the following two months, driven mainly by a sharp rise in vegetable prices, along with the rise in inflation in prepared meals and fruits. Cereals inflation remained benign, while deflation in pulses continued for the ninth successive month. Fuel group inflation remained broadly unchanged in August even as inflation in liquefied petroleum gas (LPG), kerosene, firewood and chips rose. Petroleum product prices tracked the hardening of international crude oil prices.
The index of industrial production (IIP) recovered marginally in July 2017 from the contraction in June on the back of a recovery in mining, quarrying and electricity generation. However, manufacturing remained weak. In terms of the use-based classification, contraction in capital goods, intermediate goods and consumer durables pulled down overall IIP growth. In August, however, the output of core industries posted robust growth on the back of an uptick in coal production and electricity generation. The manufacturing PMI moved into expansion zone in August and September 2017 on the strength of new orders.
The Reserve Bank of India (RBI) on Wednesday kept the repo rate unchanged at 6 per cent, maintaining the status quo in its 4th bi-monthly monetary policy statement. RBI's decision today goes against the wishes of industry bodies and government which were looking for a rate cut to spur economic growth and private investment. The central bank also revised real GVA growth projection for 2017-18 down to 6.7 per cent from the August 2017 projection of 7.3 per cent.
Meanwhile, India Inc expressed its disappointment with the RBI's decision to hold key policy rates unchanged. "In context of the current industrial situation, we felt there was a need for a further cut in the repo rate. Growth conditions remain under strain which is reflected in the persistently weak investment activity and the first quarter GDP growth numbers," Ficci President Pankaj Patel said.
"While RBI in the policy statement cites inflationary pressures to remain a concern, Ficci feels that we need to give equal consideration to growth prospects," Patel added.
In a decision that was taken by a majority of 5 to 1, the Monetary Policy Committee (MPC) today decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent, RBI said in a statement. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent, RBI said in a statement.
The MPC expects inflation to rise from current level to 4.2 to 4.6 in the second half of this fiscal year. The teething problems related to Goods and Service Tax (GST) may get resolved in second half, RBI Governor Urjit Patel said during the press briefing following the MPC meet.
The six member monetary policy committee (MPC) left cash reserve ratio (CRR) unchanged at 4 per cent, but the statutory liquidity ratio (SLR) requirement was cut by 50 basis points to 19.5 per cent. The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent, RBI said.
RBI said that the GST implementation had an adverse impact, rendering prospects for the manufacturing sector uncertain in the short term. This may further delay the revival of investment activity, which is already hampered by stressed balance sheets of banks and corporates.
Some price revisions pending the Goods and Services Tax(GST) implementation have been taking place. There has been a broad-based increase in CPI inflation excluding food and fuel. International crude prices, which had started rising from early July, have firmed up further in September. Taking into account these factors, inflation is expected to rise from its current level and range between 4.2-4.6 per cent in the second half of this year, including the house rent allowance by the Centre, RBI pointed in its assessment.
Meanwhile, it was being speculated earlier that the central bank could keep interest rates unchanged on account of various reasons. Climbing retail inflation was one of them. The consumer price index (CPI), which the RBI tracks for adjusting its repo rate, moved up to 2.4 per cent in July and 3.36 per cent in August after going as low as 1.54 per cent in June. Current account deficit is also growing after reaching 0.7 per cent of GDP in the last financial year on the back of rise in higher imports of gold and crude value terms.
The ongoing talk of fiscal stimulus to push country's slowing GDP can impact the fiscal deficit numbers if the matching revenues through tax and non-tax is not generated, and RBI was expected to wait and watch for the government moves in this direction before taking a call on changing the key policy rates.
RBI had reduced the policy repo rate by 25 basis points in its third bi-monthly monetary policy review of 2017-18. In its last meeting, the members of the monetary policy committee voted for easing interest rates by 25 basis points with a neutral stance, favoured by a a fall in food and core inflation and lower economic growth.
Here's the assessment by the RBI in its Fourth Bi-monthly Monetary Policy Statement
CPI inflation excluding food and fuel also increased sharply in July and further in August, reversing from its trough in June 2017. The increase was broad-based in both goods and services. Housing inflation hardened further in August on account of higher house rent allowances for central government employees under the 7th central pay commission award. Inflation in household goods and services in health, recreation and clothing & footwear sub-groups increased.
On the services side, the picture remained mixed. Many indicators pointed to improved performance even as the services PMI continued in the contraction zone in August due to low new orders. In the construction segment, steel consumption was robust. In the transportation sector, sales of commercial and passenger vehicles as well as two and three-wheelers, railway freight traffic and international air passenger traffic showed significant upticks. However, cement production, cargo handled at major ports, domestic air freight and passenger traffic showed weak performance.
Retail inflation measured by year-on-year change in the consumer price index (CPI) edged up sequentially in July and August to reach a five month high, due entirely to a sharp pick up in momentum as the favourable base effect tapered off in July and disappeared in August. After a decline in prices in June, food inflation rebounded in the following two months, driven mainly by a sharp rise in vegetable prices, along with the rise in inflation in prepared meals and fruits. Cereals inflation remained benign, while deflation in pulses continued for the ninth successive month. Fuel group inflation remained broadly unchanged in August even as inflation in liquefied petroleum gas (LPG), kerosene, firewood and chips rose. Petroleum product prices tracked the hardening of international crude oil prices.
The index of industrial production (IIP) recovered marginally in July 2017 from the contraction in June on the back of a recovery in mining, quarrying and electricity generation. However, manufacturing remained weak. In terms of the use-based classification, contraction in capital goods, intermediate goods and consumer durables pulled down overall IIP growth. In August, however, the output of core industries posted robust growth on the back of an uptick in coal production and electricity generation. The manufacturing PMI moved into expansion zone in August and September 2017 on the strength of new orders.
NIXI calls massive data breach hitting 6,000 enterprises as bluff; says no threat to info
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After reports of a massive data breach made headlines yesterday, National Interner Exchange of India (NIXI) has reassured enterprises associated with it that their data is still in safe hands. In a statement released earlier today, NIXI assured its affiliates - the enterprises and organisations which were reported to be at risk - that both the system as well as their data are still safe.
"It has come to our knowledge that a business organization dealing with enterprise security solution has sent information to various news agencies that it has found that an advertisement was given on DarkNet announcing secret access to data bases of over 6000 business and ISPs, government and private organization and the said actor is attempting to sell this database of Indian Registry for Internet Names and Numbers (IRINN). The claim by the actor of Dark Net is audacious and far from truth," NIXI quipped in the statement.
NIXI is a national-level non-profit organisation which acts as a neutral interface of internet service providers across India. It was established in 2003 with the motive of routing domestic internet traffic without taking it abroad. This was done to save foreign exchange and improve quality of internet services in India.
"NIXI hereby clarifies that there has been no serious security breach of its IRINN system, as it has a robust security protocol in place. The hacker has no capacity to cause any damage or initiate distributed denial of service to any entity who has been allocated internet resources through IRINN System. There was an attempt to penetrate the system and hacker was able to collect some basic profile information of the contact persons of some of the affiliates which was displayed by him on the DarkNet," the internet exchange platform said in a statement.
NIXI claimed that its security protocol is adequately capable of fending off such attacks. Moreover, security protocol has been further strengthened and review of existing infrastructure has also been initiated on the back of the recent attack.
Meanwhile, UIDAI, one of the government organisations said to be under threat following the cyber attack, clarified its databases or central repository have not been breached, nor are its activities are threatened to stop in any way.
"The supposed incident related to the claimed breach of information from IRINN does not contain any confidential data of UIDAI and has not affected any services provided by the authority," the Unique Identification Authority of India (UIDAI) said in a statement.
The Aadhaar-issuing agency asserted that there has been no security breach of either its database or Central Identities Data Repository (CIDR).
Seqrite, the enterprise arm of IT security firm Quick Heal, had reportedly encountered an advertisement on dark net claiming to have access to information from more than 6,000 Indian businesses including government organisations, internet service providers, banks and enterprises. It claimed that unidentified hackers have gained access to this data after a cyber attack on IRINN. Unique Identification Authority of India (UIDAI), Defence Research and Development Organisation (DRDO), Indian Space Research Organisation (ISRO), Reserve Bank of India (RBI), Employees' Provident Fund Organisation (EPFO), State Bank of India (SBI), Bharat Sanchar Nigam Limited (BSNL), Bombay Stock Exchange (BSE), Idea Telecom, Flipkart, Aircel, TCS, and ICICI Prudential Mutual Fund were among the private and government organisations which were said to be faced with the threat of their crucial data reaching the hands of third party players.
After reports of a massive data breach made headlines yesterday, National Interner Exchange of India (NIXI) has reassured enterprises associated with it that their data is still in safe hands. In a statement released earlier today, NIXI assured its affiliates - the enterprises and organisations which were reported to be at risk - that both the system as well as their data are still safe.
"It has come to our knowledge that a business organization dealing with enterprise security solution has sent information to various news agencies that it has found that an advertisement was given on DarkNet announcing secret access to data bases of over 6000 business and ISPs, government and private organization and the said actor is attempting to sell this database of Indian Registry for Internet Names and Numbers (IRINN). The claim by the actor of Dark Net is audacious and far from truth," NIXI quipped in the statement.
NIXI is a national-level non-profit organisation which acts as a neutral interface of internet service providers across India. It was established in 2003 with the motive of routing domestic internet traffic without taking it abroad. This was done to save foreign exchange and improve quality of internet services in India.
"NIXI hereby clarifies that there has been no serious security breach of its IRINN system, as it has a robust security protocol in place. The hacker has no capacity to cause any damage or initiate distributed denial of service to any entity who has been allocated internet resources through IRINN System. There was an attempt to penetrate the system and hacker was able to collect some basic profile information of the contact persons of some of the affiliates which was displayed by him on the DarkNet," the internet exchange platform said in a statement.
NIXI claimed that its security protocol is adequately capable of fending off such attacks. Moreover, security protocol has been further strengthened and review of existing infrastructure has also been initiated on the back of the recent attack.
Meanwhile, UIDAI, one of the government organisations said to be under threat following the cyber attack, clarified its databases or central repository have not been breached, nor are its activities are threatened to stop in any way.
"The supposed incident related to the claimed breach of information from IRINN does not contain any confidential data of UIDAI and has not affected any services provided by the authority," the Unique Identification Authority of India (UIDAI) said in a statement.
The Aadhaar-issuing agency asserted that there has been no security breach of either its database or Central Identities Data Repository (CIDR).
Seqrite, the enterprise arm of IT security firm Quick Heal, had reportedly encountered an advertisement on dark net claiming to have access to information from more than 6,000 Indian businesses including government organisations, internet service providers, banks and enterprises. It claimed that unidentified hackers have gained access to this data after a cyber attack on IRINN. Unique Identification Authority of India (UIDAI), Defence Research and Development Organisation (DRDO), Indian Space Research Organisation (ISRO), Reserve Bank of India (RBI), Employees' Provident Fund Organisation (EPFO), State Bank of India (SBI), Bharat Sanchar Nigam Limited (BSNL), Bombay Stock Exchange (BSE), Idea Telecom, Flipkart, Aircel, TCS, and ICICI Prudential Mutual Fund were among the private and government organisations which were said to be faced with the threat of their crucial data reaching the hands of third party players.
Excise duty cut: Petrol price comes down by Rs 2.50; diesel by Rs 2.25
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After seeing a constant upswing in its price for months, petrol and diesel prices on Wednesday came down sharply as the government announced a cut in basic excise duty on petrol and diesel. Petrol price in Delhi came down by Rs 2.50 per litre. On October 3, the price of 1 litre of petrol was Rs 70.88 and on Wednesday it fell to Rs 68.38. Similarly, in the financial capital, the petrol retailed at Rs 79.99 on Tuesday. However, it fell sharply to Rs 77.51 on October 4.
Diesel price in Delhi retailed at Rs 59.14 before the excise cut. On Wednesday, the price of diesel in Delhi dropped by Rs 2.25 to Rs 56.89. In Mumbai, diesel price came down by Rs 2.39 to Rs 60.43. Before the excise cut, diesel retailed at Rs 62.82 in Mumbai.
The cut in retail selling price is higher after factoring in its impact on value added tax (VAT). As things stand, excise duty is levied on fuel produced ex-refinery. Local sales tax or VAT is levied on the total of ex-refinery cost plus excise duty and commission paid to dealers, IOC Director (finance) A K Sharma said.
So, till Tuesday the VAT on petrol in Delhi was Rs 15.07 while on Wednesday it stands at Rs 14.54. On diesel, VAT is Rs 8.41 per litre Wednesday as against Rs 8.73 previously. The excise duty cut paused the relentless rise in rates witnessed since July 4.
Finance Minister Arun Jaitley will soon write to all state chief ministers urging them to cut VAT on petrol an diesel, Oil Minister Dharmendra Pradhan said. "We have proactively cut excise duty. Now it is the turn of states to reduce VAT," Pradhan added.
Unlike the Centre, states levy VAT as an ad valorem duty which rises every time there is a hike in petrol price.
Government's decision to cut excise duty on petrol and diesel will be a relief for consumers as it will lower CPI inflation by around 8-9 bps, but will add to fiscal concerns of the economy, a Nomura report said.
"Given already stretched fiscal finances due to front- loaded spending and lower non-tax revenues, this decision further adds to the risk that the government will likely miss its 2017-18 fiscal deficit target of 3.2 per cent of GDP," the report said.
On petrol, excise has been cut to Rs 19.48 per litre from Rs 21.48 per litre and on diesel to Rs 15.33 a litre from Rs 17.33 previously. The rise in petrol and diesel prices also reflected in wholesale price inflation, which increased to 3.24 per cent in August 2017, as compared to 1.88 per cent in July.
The central government on Tuesday cut basic excise duty on petrol and diesel by Rs 2 per litre from, which became effective October 4. Petroleum and Natural Gas Minister Dharmendra Pradhan had earlier said that fuel prices may come down by Diwali. The move comes a day before Reserve Bank of India (RBI) will unveil its fourth bi-monthly monetary policy statement.
Petrol and diesel prices have gone through the roof ever since the central government announced daily revision of fuel prices. Petrol price in Delhi on Tuesday was at Rs 70.83 per litre, whereas in Mumbai a litre of petrol costs Rs 79.99.
The government will incur losses to the tune of Rs 13,000 crore for the remainder of ongoing financial year and Rs 26,000 crore in a full year, said a government statement.
"The government has decided to reduce the basic excise duty rate on petrol and diesel (both branded and unbranded) by Rs 2 per litre with effect from October 4, 2017. This decision has been taken by the Government in order to cushion the impact of rising international prices of crude petroleum oil and petrol and diesel on Retail Sale Prices of Petrol and Diesel as well as to protect the interest of common man," Ministry of Finance said.
This rise in the prices of Petrol and Diesel is also reflected in WPI inflation, which has increased to 3.24% for the month of August 2017, as compared to 1.88% for the month of July 2017. This also prompted the Government to act swiftly in this regard, it added.
The government had steadily increased excise duty on petrol and diesel when the global crude prices had plummeted below $30 a barrel.
The government had in November 2015 and January 2016 raised excise duty on petrol and diesel five times to take away gains arising from plummeting international oil prices. Excise duty on petrol was hiked by Rs 4.02 a litre and that on diesel by Rs 6.97.
Prior to that, the government had in four installments raised the excise duty on petrol and diesel between November 2014 and January 2015 to take away gains arising from fall in international oil prices.
The four excise duty hikes during this period totalled Rs 7.75 per litre on petrol and Rs 6.50 a litre on diesel. It led to about Rs 20,000 crore in additional revenue to the government, helping it meet the fiscal deficit target.
On July 1, the prices of petrol and diesel in the national capital were Rs 63.09 and Rs 53.33 per litre respectively. Excise duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre ever since Prime Minister Narendra Modi-led BJP government came to power in 2014.
The government has excluded petrol and diesel from the ambit of GST (Goods and Service Tax). Petroleum products still attract state and central levies such as excise duty and VAT (Value added tax).
After seeing a constant upswing in its price for months, petrol and diesel prices on Wednesday came down sharply as the government announced a cut in basic excise duty on petrol and diesel. Petrol price in Delhi came down by Rs 2.50 per litre. On October 3, the price of 1 litre of petrol was Rs 70.88 and on Wednesday it fell to Rs 68.38. Similarly, in the financial capital, the petrol retailed at Rs 79.99 on Tuesday. However, it fell sharply to Rs 77.51 on October 4.
Diesel price in Delhi retailed at Rs 59.14 before the excise cut. On Wednesday, the price of diesel in Delhi dropped by Rs 2.25 to Rs 56.89. In Mumbai, diesel price came down by Rs 2.39 to Rs 60.43. Before the excise cut, diesel retailed at Rs 62.82 in Mumbai.
The cut in retail selling price is higher after factoring in its impact on value added tax (VAT). As things stand, excise duty is levied on fuel produced ex-refinery. Local sales tax or VAT is levied on the total of ex-refinery cost plus excise duty and commission paid to dealers, IOC Director (finance) A K Sharma said.
So, till Tuesday the VAT on petrol in Delhi was Rs 15.07 while on Wednesday it stands at Rs 14.54. On diesel, VAT is Rs 8.41 per litre Wednesday as against Rs 8.73 previously. The excise duty cut paused the relentless rise in rates witnessed since July 4.
Finance Minister Arun Jaitley will soon write to all state chief ministers urging them to cut VAT on petrol an diesel, Oil Minister Dharmendra Pradhan said. "We have proactively cut excise duty. Now it is the turn of states to reduce VAT," Pradhan added.
Unlike the Centre, states levy VAT as an ad valorem duty which rises every time there is a hike in petrol price.
Government's decision to cut excise duty on petrol and diesel will be a relief for consumers as it will lower CPI inflation by around 8-9 bps, but will add to fiscal concerns of the economy, a Nomura report said.
"Given already stretched fiscal finances due to front- loaded spending and lower non-tax revenues, this decision further adds to the risk that the government will likely miss its 2017-18 fiscal deficit target of 3.2 per cent of GDP," the report said.
On petrol, excise has been cut to Rs 19.48 per litre from Rs 21.48 per litre and on diesel to Rs 15.33 a litre from Rs 17.33 previously. The rise in petrol and diesel prices also reflected in wholesale price inflation, which increased to 3.24 per cent in August 2017, as compared to 1.88 per cent in July.
The central government on Tuesday cut basic excise duty on petrol and diesel by Rs 2 per litre from, which became effective October 4. Petroleum and Natural Gas Minister Dharmendra Pradhan had earlier said that fuel prices may come down by Diwali. The move comes a day before Reserve Bank of India (RBI) will unveil its fourth bi-monthly monetary policy statement.
Petrol and diesel prices have gone through the roof ever since the central government announced daily revision of fuel prices. Petrol price in Delhi on Tuesday was at Rs 70.83 per litre, whereas in Mumbai a litre of petrol costs Rs 79.99.
The government will incur losses to the tune of Rs 13,000 crore for the remainder of ongoing financial year and Rs 26,000 crore in a full year, said a government statement.
"The government has decided to reduce the basic excise duty rate on petrol and diesel (both branded and unbranded) by Rs 2 per litre with effect from October 4, 2017. This decision has been taken by the Government in order to cushion the impact of rising international prices of crude petroleum oil and petrol and diesel on Retail Sale Prices of Petrol and Diesel as well as to protect the interest of common man," Ministry of Finance said.
This rise in the prices of Petrol and Diesel is also reflected in WPI inflation, which has increased to 3.24% for the month of August 2017, as compared to 1.88% for the month of July 2017. This also prompted the Government to act swiftly in this regard, it added.
The government had steadily increased excise duty on petrol and diesel when the global crude prices had plummeted below $30 a barrel.
The government had in November 2015 and January 2016 raised excise duty on petrol and diesel five times to take away gains arising from plummeting international oil prices. Excise duty on petrol was hiked by Rs 4.02 a litre and that on diesel by Rs 6.97.
Prior to that, the government had in four installments raised the excise duty on petrol and diesel between November 2014 and January 2015 to take away gains arising from fall in international oil prices.
The four excise duty hikes during this period totalled Rs 7.75 per litre on petrol and Rs 6.50 a litre on diesel. It led to about Rs 20,000 crore in additional revenue to the government, helping it meet the fiscal deficit target.
On July 1, the prices of petrol and diesel in the national capital were Rs 63.09 and Rs 53.33 per litre respectively. Excise duty on petrol was hiked by Rs 11.77 per litre and that on diesel by 13.47 a litre ever since Prime Minister Narendra Modi-led BJP government came to power in 2014.
The government has excluded petrol and diesel from the ambit of GST (Goods and Service Tax). Petroleum products still attract state and central levies such as excise duty and VAT (Value added tax).
After electronics and appliances, Paytm Mall rolls out new sale for grocery essentials
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It was only a matter of time before one of the e-commerce giants announced a sale catering only to groceries and daily need products. However the dynamics of such a sale would vastly be different from a sale on gadgets and appliances. Buyers will buy grocery items and daily need products irrespective of a sale or a slight surge. However, Paytm Mall has set out to tap that market as well.
After its first festive sale, Mera Cashback Sale, Paytm Mall has launched its Super Cashback Sale on all grocery essentials. The sale is live now and will continue till October 5th.
Paytm Mall customers would be eligible for Rs 2,500 cashback and free delivery if they purchase at least 10 daily need products. Moreover, from 3 pm - 8 pm every day, the site will offer certain products for 100% cashback, in other words, for free.
The Super Cashback Sale offers a range of products across categories such as food, home care, self care, baby care, nutrition products, makeup and laundry. There are hefty cashbacks on items ranging from chocolates, hand wash to nutrition products and health supplements.
There are upto 30% cashbacks on hair products, upto 50% on lipsticks, 20% - 40% on feminine care products, minimum 30% on men grooming products, upto 50% on oils and ghee, upto 60% on dry fruits, upto 35% on tea, coffee and other beverages, around 20% - 35% off on home care products, upto 40% on health supplements and upto 40% on pet care products across brands.
Although the festive sale was overpowered by Flipkart and Amazon this year, Paytm Mall might just break new ground with its new offering.
It was only a matter of time before one of the e-commerce giants announced a sale catering only to groceries and daily need products. However the dynamics of such a sale would vastly be different from a sale on gadgets and appliances. Buyers will buy grocery items and daily need products irrespective of a sale or a slight surge. However, Paytm Mall has set out to tap that market as well.
After its first festive sale, Mera Cashback Sale, Paytm Mall has launched its Super Cashback Sale on all grocery essentials. The sale is live now and will continue till October 5th.
After its first festive sale, Mera Cashback Sale, Paytm Mall has launched its Super Cashback Sale on all grocery essentials. The sale is live now and will continue till October 5th.
Paytm Mall customers would be eligible for Rs 2,500 cashback and free delivery if they purchase at least 10 daily need products. Moreover, from 3 pm - 8 pm every day, the site will offer certain products for 100% cashback, in other words, for free.
The Super Cashback Sale offers a range of products across categories such as food, home care, self care, baby care, nutrition products, makeup and laundry. There are hefty cashbacks on items ranging from chocolates, hand wash to nutrition products and health supplements.
There are upto 30% cashbacks on hair products, upto 50% on lipsticks, 20% - 40% on feminine care products, minimum 30% on men grooming products, upto 50% on oils and ghee, upto 60% on dry fruits, upto 35% on tea, coffee and other beverages, around 20% - 35% off on home care products, upto 40% on health supplements and upto 40% on pet care products across brands.
Although the festive sale was overpowered by Flipkart and Amazon this year, Paytm Mall might just break new ground with its new offering.
Although the festive sale was overpowered by Flipkart and Amazon this year, Paytm Mall might just break new ground with its new offering.
Govt seeks to raise up to USD 1.7 billion from state-run reinsurer General Insurance Corp's IPO
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State-run reinsurer General Insurance Corp of India's (GIC Re) initial public offering of shares next week seeks to raise as much 113.7 billion rupees ($1.7 billion) in what will be India's second-biggest IPO.
GIC Re set a price range of 855-912 rupees a share for its IPO that will run from Oct. 11-13, according to a public notice on Wednesday. At the upper end of the price range, the IPO would raise 113.7 billion rupees ($1.7 billion).
With almost $6 billion worth of IPO sales in the first three quarters of 2017, India is set for a record year aided by strong stock markets and higher fund flows into equity from institutions as well as retail investors. High valuations of share sales have however concerned some investors.
In the GIC Re IPO, the Indian government, which fully owns the reinsurer, will sell 107.5 million shares, while the company will raise funds by selling 17.2 million new shares. The total offer of 124.7 million shares constitutes 14.2 percent of the post-offer paid up share capital.
Citi, Axis Capital, Deutsche Bank, HSBC and Kotak are the banks managing the GIC Re IPO, which is the biggest since Coal India's 2010 share sale that raised 152 billion rupees.
To help bring the fiscal deficit meet a target of 3.2 percent of gross domestic product during the year to March 2018, the government aims to raise 725 billion rupees by divesting some of its stakes in state-run companies and private firms in which it holds minority stakes.
State-run reinsurer General Insurance Corp of India's (GIC Re) initial public offering of shares next week seeks to raise as much 113.7 billion rupees ($1.7 billion) in what will be India's second-biggest IPO.
GIC Re set a price range of 855-912 rupees a share for its IPO that will run from Oct. 11-13, according to a public notice on Wednesday. At the upper end of the price range, the IPO would raise 113.7 billion rupees ($1.7 billion).
With almost $6 billion worth of IPO sales in the first three quarters of 2017, India is set for a record year aided by strong stock markets and higher fund flows into equity from institutions as well as retail investors. High valuations of share sales have however concerned some investors.
In the GIC Re IPO, the Indian government, which fully owns the reinsurer, will sell 107.5 million shares, while the company will raise funds by selling 17.2 million new shares. The total offer of 124.7 million shares constitutes 14.2 percent of the post-offer paid up share capital.
Citi, Axis Capital, Deutsche Bank, HSBC and Kotak are the banks managing the GIC Re IPO, which is the biggest since Coal India's 2010 share sale that raised 152 billion rupees.
To help bring the fiscal deficit meet a target of 3.2 percent of gross domestic product during the year to March 2018, the government aims to raise 725 billion rupees by divesting some of its stakes in state-run companies and private firms in which it holds minority stakes.
General Awareness
Indian Cultural Dances - Folk Dances in India Static GK
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State Dance (S) Andra Pradesh Kuchipudi, Kolattam, Ghantamardala, (Ottam Thedal, Mohiniattam, Kummi, Siddhi, Madhuri, Chhadi. Arunachal Pradesh Bardo Chham Assam Bihu, Ali Ai Ligang, Bichhua, Natpuja, Maharas, Kaligopal, Bagurumba, Naga dance, Khel Gopal, Tabal Chongli, Canoe, Jhumura Hobjanai etc. Bihar Jata-Jatin, Bakho-Bakhain, Panwariya, Sama-Chakwa, Bidesia, Jatra etc. Chhattisgarh Panthi, Raut Nacha, Gaur Maria, Goudi, Karma, Jhumar, Dagla, Pali, Tapali, Navrani, Diwari, Mundari. Goa
Tarangamel, Dashavatara, Dekhni, Dhalo, Dhangar, Fugdi, Ghodemodni, Goff, Jagar, Kunbi, Mando, Musal Khel, Perni Jagar, Ranamale, Romta Mel, Divlyan Nach (Lamp dance), Veerabhadra, Morulo, Tonayamel , Mandi, Jhagor, Khol, Dakni, , Koli
Gujarat Garba, Dandiya Ras, Tippani Juriun, Bhavai. Haryana Saang, Chhathi, Khoria, Ras Leela, Dhamal, Jhumar, Loor, Gugga, Teej Dance, Phag, Daph, Gagor Himachal Pradesh Kinnauri, Mangen, Jhora, Jhali, Chharhi, Dhaman, Chhapeli, Mahasu, Nati, Dangi, Chamba, Thali, Jhainta, Daf, Stick dance Jammu & Kashmir Kud, Dumhal, Rauf, Hikat, Mandjas, Damali Jharkhand Chhanu, Sarahul, Jat-Jatin, Karma , Munda, Danga, Bidesia, Sohrai. Karnataka Yakshagan, Bayalatta, Dollu Kunitha, Veeragasse, Huttar, Suggi, Kunitha, Karga, Lambi Kerala Mohiniyattam, Kathakali, Thirayattam, Theyyam, Thullal, Koodiyattam, Duffmuttu / Aravanmuttu, Oppana, Kaikottikali, Thiruvathirakali, Margamkali, Thitambu Nritham, Chakyar Koothu, Chavittu Nadakam, Padayani Madhya Pradesh Tertali, Charkula, Jawara, Matki Dance, Phulpati Dance, Grida Dance, Maanch Maharashtra Lavani, Nakata, Koli, Lezim, Gafa, Dahikala Dasavtar or Bohada, Tamasha, Mauni, Powara, Gouricha, Koli Manipur Rakhal, Nat Rash, Maha Rash, Raukhat, Thang Ta, Dhol cholom Meghalaya Laho, Baala Mizoram Cheraw, Khanatm, Pakhupila, Cherokan Nagaland Chang Lo or Sua Lua, Chong, Khaiva, Lim, Nuralim Odisha Ghumura, Ruk Mar Nacha (& Chhau dance), Goti Pua, Nacni, Odissi, Western Odisha - (Baagh Naach / Tiger Dance, Dalkhai, Dhap, Karma Naach, Keisabadi) Punjab Bhangra, Giddha, Malwai Giddha, Jhumar, Karthi, Kikkli, Sammi, Dandass, Ludi, Jindua Rajasthan Ghoomar , Chakri, Ganagor, Jhulan Leela, Jhuma, Suisini, Ghapal, Panihari, Ginad, Kalbelia, Bhavai, Kachchhi Ghodi Sikkim Singhi Chham Tamil Nadu Bharatanatyam, Kamandi / Kaman Pandigai, Devarattam, Kummi, Kolattam, Karagattam / Karagam, Mayil Attam / Peacock dance, Paampu attam / Snake Dance, Oyilattam, Puliyattam, Poikal Kudirai Attam, Bommalattam, Theru Koothu Tripura Hojagiri Uttar Pradesh Charkula, Raslila, Kajri, Jhora, Chappeli, Jaita West Bengal Kathi, Gambhira, Dhali, Jatra, Baul, Marasia, Mahal, Keertan, Gambhira, Kalikapatadi, Nacni, Alkap, Domni
| State | Dance (S) |
| Andra Pradesh | Kuchipudi, Kolattam, Ghantamardala, (Ottam Thedal, Mohiniattam, Kummi, Siddhi, Madhuri, Chhadi. |
| Arunachal Pradesh | Bardo Chham |
| Assam | Bihu, Ali Ai Ligang, Bichhua, Natpuja, Maharas, Kaligopal, Bagurumba, Naga dance, Khel Gopal, Tabal Chongli, Canoe, Jhumura Hobjanai etc. |
| Bihar | Jata-Jatin, Bakho-Bakhain, Panwariya, Sama-Chakwa, Bidesia, Jatra etc. |
| Chhattisgarh | Panthi, Raut Nacha, Gaur Maria, Goudi, Karma, Jhumar, Dagla, Pali, Tapali, Navrani, Diwari, Mundari. |
| Goa |
Tarangamel, Dashavatara, Dekhni, Dhalo, Dhangar, Fugdi, Ghodemodni, Goff, Jagar, Kunbi, Mando, Musal Khel, Perni Jagar, Ranamale, Romta Mel, Divlyan Nach (Lamp dance), Veerabhadra, Morulo, Tonayamel , Mandi, Jhagor, Khol, Dakni, , Koli
|
| Gujarat | Garba, Dandiya Ras, Tippani Juriun, Bhavai. |
| Haryana | Saang, Chhathi, Khoria, Ras Leela, Dhamal, Jhumar, Loor, Gugga, Teej Dance, Phag, Daph, Gagor |
| Himachal Pradesh | Kinnauri, Mangen, Jhora, Jhali, Chharhi, Dhaman, Chhapeli, Mahasu, Nati, Dangi, Chamba, Thali, Jhainta, Daf, Stick dance |
| Jammu & Kashmir | Kud, Dumhal, Rauf, Hikat, Mandjas, Damali |
| Jharkhand | Chhanu, Sarahul, Jat-Jatin, Karma , Munda, Danga, Bidesia, Sohrai. |
| Karnataka | Yakshagan, Bayalatta, Dollu Kunitha, Veeragasse, Huttar, Suggi, Kunitha, Karga, Lambi |
| Kerala | Mohiniyattam, Kathakali, Thirayattam, Theyyam, Thullal, Koodiyattam, Duffmuttu / Aravanmuttu, Oppana, Kaikottikali, Thiruvathirakali, Margamkali, Thitambu Nritham, Chakyar Koothu, Chavittu Nadakam, Padayani |
| Madhya Pradesh | Tertali, Charkula, Jawara, Matki Dance, Phulpati Dance, Grida Dance, Maanch |
| Maharashtra | Lavani, Nakata, Koli, Lezim, Gafa, Dahikala Dasavtar or Bohada, Tamasha, Mauni, Powara, Gouricha, Koli |
| Manipur | Rakhal, Nat Rash, Maha Rash, Raukhat, Thang Ta, Dhol cholom |
| Meghalaya | Laho, Baala |
| Mizoram | Cheraw, Khanatm, Pakhupila, Cherokan |
| Nagaland | Chang Lo or Sua Lua, Chong, Khaiva, Lim, Nuralim |
| Odisha | Ghumura, Ruk Mar Nacha (& Chhau dance), Goti Pua, Nacni, Odissi, Western Odisha - (Baagh Naach / Tiger Dance, Dalkhai, Dhap, Karma Naach, Keisabadi) |
| Punjab | Bhangra, Giddha, Malwai Giddha, Jhumar, Karthi, Kikkli, Sammi, Dandass, Ludi, Jindua |
| Rajasthan | Ghoomar , Chakri, Ganagor, Jhulan Leela, Jhuma, Suisini, Ghapal, Panihari, Ginad, Kalbelia, Bhavai, Kachchhi Ghodi |
| Sikkim | Singhi Chham |
| Tamil Nadu | Bharatanatyam, Kamandi / Kaman Pandigai, Devarattam, Kummi, Kolattam, Karagattam / Karagam, Mayil Attam / Peacock dance, Paampu attam / Snake Dance, Oyilattam, Puliyattam, Poikal Kudirai Attam, Bommalattam, Theru Koothu |
| Tripura | Hojagiri |
| Uttar Pradesh | Charkula, Raslila, Kajri, Jhora, Chappeli, Jaita |
| West Bengal | Kathi, Gambhira, Dhali, Jatra, Baul, Marasia, Mahal, Keertan, Gambhira, Kalikapatadi, Nacni, Alkap, Domni |
