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A Day After IB Report, Explosives Recovered Near Highway In Haryana, 1 Arrested: Police

IB

Ahead of India’s 75th Independence Dayon 15th August, the Intelligence Bureau (IB) on Thursday issued an alert for a possible terror attack by Lashkar-e-Taiba (LeT), Jaish-e-Mohammed (JeM), and other radical groups.

Kurukshetra: A day after the Intelligence bureau issued a  report on terrorist attacks ahead of India’s 75th Independence day, Special Task Force (STF) on Thursday recovered one improvised explosive device (IED),  officials informed.

The IED was placed in a polythene bag under a tree near a hotel on Shahabad-Ambala Highway. The police have arrested one person in connection with the matter.

According to  Assistant Superintendent of Police (ASP),  Karan Goel.”An IED has been recovered by Special Task Force (STF) STF in polythene under a tree beside a hotel on Shahabad-Ambala Highway. One accused from Tarn Taran has been taken into custody; STF handed him over to Shahabad Police. Case registered; further, probe underway.”

Ahead of India’s 75th Independence Dayon 15th August, the Intelligence Bureau (IB) on Thursday issued an alert for a possible terror attack by Lashkar-e-Taiba (LeT), Jaish-e-Mohammed (JeM), and other radical groups.

A 10-page report by the IB reads, that there is a threat from LeT, JeM, and other radical groups. It has directed Delhi Police to put in place strict entry rules at Red Fort ahead of Independence Day.IB has instructed Delhi Police to remain alert. Delhi Police has been asked to enforce strict entry rules at the venue on Independence day.

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RBI Hikes Key Rate By 0.50% To 5.40%

Shashank
RBI

Inflation has been ruling above the RBI’s comfort level of 6% since January 2022  and the RBI governor expects that trend to continue.

The Reserve Bank of India hiked its key lending rate by 50 basis points to pre-pandemic levels of 5.40 percent today, a third increase in a row to tame surging inflation which has remained above the upper end of the central bank’s target this year.

With June retail inflation at 7.00%, well above the RBI’s 2-6 % medium-term target, the monetary policy committee (MPC) raised the key lending rate or the repo rate by 50 basis points (bps) to 5.40%, the highest since 2019.

With the latest surge, the repo rate, or the short-term lending rate at which banks borrow crossed the pre-pandemic level of 5.15 %.

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All six members of the Monetary Policy Committee (MPC), led by RBI Governor Shaktikanta Das, unanimously voted for the rate hike.

The central bank had caught markets off guard with a 40 bps hike at an unscheduled meeting earlier in May this year, followed by a 50 bps hike in June, but prices have shown little signs of cooling so far.

Mr. Das weighed in on the dilemma the RBI faces, with pressing economic concerns to be addressed. Retail inflation, based on the Consumer Price Index (CPI), which RBI factors in while fixing its benchmark rate, stood at 7.01 % in June.

Inflation has been ruling above the RBI’s comfort level of 6% since January 2022  and the RBI governor expects that trend to continue.

Inflation based on the Wholesale Price Index (WPI) stuck to double-digit for 15 months in a row. The WPI reading was at 15.18 % in June.

The latest RBI action follows the Bank of England hiking rate by 50 basis points, the highest surge in 27 years, to 1.75 %.

Earlier in July, the US Federal Reserve effected its second consecutive 0.75 percentage point interest rate increase, taking its benchmark rate to a range of 2.25-2.5 %.

Traders now wait for the RBI governor’s comments on the outlook and any clues on the pace of tightening going ahead.

 

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