1. Growth has fallen, but govt. can reverse trend, says PM
Prime Minister Narendra Modi took on critics about the government’s handling of the economy, stressing that the first quarter of this year was not the first time that India’s growth had slipped to 5.7%.
Although Mr. Modi indicated that a fiscal stimulus may not be in the offing, he said the government is capable of and committed to take all necessary steps to revive growth and resolve all glitches that have arisen in the first three months of the Goods and Services Tax (GST) regime.
2. RBI holds interest rates
The Reserve Bank of India (RBI) on Wednesday kept interest rates unchanged citing concerns about upward risks to inflation and cautioned the government against steps to relax fiscal discipline to spur growth as such a move could potentially adversely impact the deficit and add to inflationary pressure.
3. 8 out of 10 Indians harassed online
Eight out of 10 people in India have experienced some form of online harassment, with 41% of women having faced sexual harassment on the web, according to a new survey commissioned by cybersecurity solutions firm, Norton by Symantec.
The online survey was conducted in the summer of 2017 with a sample size of 1,035 respondents drawn mainly from Tier 1 cities, with the objective of understanding Indian exposure to online harassment.
4. Rajnish Kumar is SBI chief
The government has appointed Rajnish Kumar as chairman of the State Bank of India (SBI), with effect from October 7. He will succeed Arundhati Bhattacharya whose term ends on October 6.
Now, he is one of the four managing directors of the SBI, looking after the domestic banking sector as head of the National Banking Group
5. EC ready for simultaneous polls by Sept.
The Election Commission on Wednesday launched a web-based application, Electoral Registration Officer (ERO) network, aimed at efficient conduct of elections and said it would be “logistically equipped” by September 2018 to hold simultaneous polls for Lok Sabha and Assemblies.
6. Centre to dispose of excess toor dal stock
Two years on from October 2015, when toor dal was selling at ₹200 a kg, the Union government is now struggling to dispose of its buffer stock of 18 lakh tonnes.
The Consumer Affairs, Food and Public Distribution Ministry has charted out three ways to reduce seven lakh tonnes first and 10 lakh tonnes ahead of December, when the new crop hits the market. The lentil is now selling at ₹50 a kg.
7. India should avoid bigger US strategic game: Karzai
Hamid Karzai, the former President said “India should not be pulled into the US’s approach to Afghanistan — which he warned was part of a “bigger strategic game” that would not bring peace to the region — but should maintain an independent approach based on the shared interests of India and Afghanistan”
8. Molecules shown like a movie
A trio of Swiss, American and British scientists won the 2017 Nobel chemistry prize on Wednesday for developing cryo-electron microscopy, allowing researchers to see biological molecules frozen in action.
The work by Jacques Dubochet, Joachim Frank and Richard Henderson makes it possible to image proteins and other molecules after freezing them rapidly to preserve their shape, providing a powerful new tool for medical research.
9. RBI flays banks for keeping rates high
The Reserve Bank flayed lenders for keeping interest rates high and flagged concerns over base rate and marginal cost of fund-based lending rate (MCLR), saying these have not improved monetary transmission.
An internal RBI group also suggested switching over to an external benchmark in a time-bound manner so that better rates are available to borrowers.
10. Age cheats under scanner
The Under-17 World Cup starting in India on Friday should feature only players born this century, but officials are taking no chances after title holders Nigeria were caught in a major age-cheating scandal.
All players at the competition, which has helped launch the careers of Neymar, Ronaldinho, Andres Iniesta and Xavi Hernandez, will have their wrists scanned by MRI to check they weren’t born before January 1, 2000.