The Reserve Bank of India has increased the repo rate. This is the rate at which the RBI lends to commercial banks. The move is intended to make borrowing more expensive for the public. The goal is to reduce overall spending in the economy. This action aims to control rising prices, or inflation.
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Congress President Mallikarjun Kharge will host a lunch meeting for INDIA bloc leaders on Saturday. The gathering aims to plan the opposition alliance's next course of action following their recent protests. These protests, which included a demonstration in Parliament, centered on allegations of electoral malpractice. The meeting signifies a continued effort to coordinate strategy against the ruling government.
India has put forward a three-part ceasefire proposal to help resolve the Russia-Ukraine conflict. The plan, according to diplomatic sources, calls for an end to attacks on energy and civilian infrastructure. It also aims to ensure the continued flow of grain and energy exports via Black Sea ports. Furthermore, the proposal seeks to halt strikes on commercial vessels navigating that strategic waterway.
Defence Minister Rajnath Singh opened a new production line for Shakti helicopter engines at HAL's facility in Koraput. The line is projected to be fully functional by 2028-29, with an annual capacity of 100 engines. Concurrently, HAL is ramping up output of AL-31FP engines for the Su-30MKI fighter jets. These developments highlight India's push towards greater self-reliance in critical aerospace and defence manufacturing.
A BJP booth agent has been named in an FIR for attempting to remove 30 Muslim voters from the electoral list using Form 7. Election officials conducted a field verification on October 1 following the application. The verification confirmed that all 30 individuals were legitimately residing at their registered addresses. The case highlights scrutiny over attempts to alter voter rolls improperly.
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