General
RBI Maintains Status Quo As Repo Rate Unchanged At 6.5%, Flags Inflation Concern
Mumbai: The monetary policy committee of the Reserve Bank of India (RBI) in its October review meeting unanimously decided to keep the policy repo rate unchanged at 6.5 per cent, thus maintaining status quo for the fourth straight occasions.
While deliberating the policy statement Friday morning, RBI Governor Shaktikanta Das said the central bank is concerned and it has identified high inflation as a major risk to macro-economic stability and sustainable growth.
Das added the monetary policy committee is committed to align India’s headline inflation at 4 per cent level.
Also, the governor noted 5 out of the 6 MPC members are for remaining focused on “withdrawal of accommodation” in monetary policy stance so as to ensure the inflation progressively aligns with the target, while supporting growth.
The three-day bi-monthly monetary policy committee (MPC) meeting of the RBI began on Wednesday, with financial market participants closely monitoring the outcome and the policy stance of the central bank for fresh cues.
RBI typically conducts six bi-monthly meetings in a financial year, where it deliberates interest rates, money supply, inflation outlook, and various macroeconomic indicators.
RBI in its past three meetings – April, June, and August — held the repo rate unchanged at 6.5 per cent. The repo rate is the rate of interest at which RBI lends to other banks.
A relative decline in inflation, barring the latest spike, and its potential for further decline may have prompted the central bank to put the brake on the key interest rate. Inflation has been a concern for many countries, including advanced economies, but India has largely managed to steer its inflation trajectory quite well.
Barring the latest third straight pause, the RBI raised the repo rate by 250 basis points cumulatively to 6.5 per cent since May 2022 in the fight against inflation. Raising interest rates is a monetary policy instrument that typically helps suppress demand in the economy, thereby helping the inflation rate decline.
Headline inflation in India rose to 7.8 per cent in July due to a surge in prices of food items like wheat, rice and vegetables, including tomatoes, to later fall to 6.8 per cent in August. Inflation data for September is due in next few days
Maharashtra
Two youths drown in Mumbai’s Mahim creek

Mumbai: Two people jumped into the Mahim creek in Mumbai, due to which they drowned. The search for them is on. Today at around 12:20 pm, Irshad Asif Sheikh, a transgender, aged 22, residing at Lal Mati, Nargis Dutt Nagar, Bandra (West), Mumbai, and Qalander Altaf Khan, aged 20, residing at Lal Mati, Nargis Dutt Nagar, Bandra (West), were standing between a bridge in Bandra. During this, they had an argument and one jumped into the creek while the other also jumped into the water to save him.
During the argument, Irshad jumped into the water and Qalander Khan jumped after him to save him. However, both drowned in the water.
The search operation is on, so far no trace of both has been found. Teams are searching for both.
Maharashtra
Sameer Wankhede targeted in The Baddest of Bollywood; Delhi High Court orders removal of objectionable content from controversial series in defamation case

Mumbai: The Mumbai-Delhi High Court has strongly criticized Red Chillies Entertainment Shah Rukh Khan, Gauri Khan and others in the defamation case against NCB Zonal Director IRS officer Sameer Wankhede and said that artistic freedom does not mean mocking a person. After this, the High Court has ordered that the controversial footage related to Sameer Wankhede be removed from the controversial Netflix series The Bads of Bollywood. Sameer Wankhede had filed a petition in the High Court and pleaded that his character has been killed in The Bads of Bollywood and this series has been made to target him. The purpose is to humiliate and mock Sameer Wankhede. After watching some parts of this series, the High Court has ordered the removal of the controversial parts from the film.
Sameer Wankhede’s lawyer had told the court that the character portrayed in the film is a comparison to Sameer Wankhede and that this series has been created with the intention of tarnishing Wankhede’s image. The Bads of Bollywood is malicious, therefore, the above-mentioned controversial scenes and objectionable dialogues should be deleted from the series, on which the court has issued an order to delete the controversial and objectionable content and content. Earlier, while hearing Sameer Wankhede’s petition, the court had sent notices to Shah Rukh Khan’s Red Chillies, Netflix, Meta, and social media platforms and directed them to file a response. To this, Red Chillies had called the film and series a drama and made it clear that it had nothing to do with the facts. However, despite this, the Delhi High Court inquired whether a film drama does not mean that someone’s character is killed and said this, it reprimanded Shah Rukh Khan and the film company. Sameer Wankhede tried to prove through his argument that the character portrayed in the film resembles Sameer Wankhede and that this character has been portrayed in a negative way to target him and in this, an attempt has been made to make fun of Sameer Wankhede through this character, which has humiliated Wankhede, which the court has accepted and issued a directive to delete the objectionable and controversial content. This is a big success for Sameer Wankhede, while Shah Rukh Khan has suffered a huge setback.
Maharashtra
Mumbai arms supplier arrested from Ghatkopar depot

Mumbai: Police has claimed to have arrested an arms supplier from Ghatkopar Bus Depot who had come here to supply arms to Mumbai. The Mumbai Police Ghatkopar Anti-Gang Squad received information about this. The police laid a trap and took the accused into custody and recovered two country-made pistols and four live cartridges from his possession. During the investigation, the police asked him his name and he revealed his name as Ajay Kailash, a resident of Ujjain. The police have registered a case in this matter and started the investigation. Pantnagar Police has started the investigation in this matter to find out from where the accused had brought the arms to supply arms. This action was taken by DCP Rakesh Ola on the instructions of Mumbai Police Commissioner Deven Bharti.
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