Connect with us
Monday,12-October-2026
Breaking News

General

RBI Maintains Status Quo As Repo Rate Unchanged At 6.5%, Flags Inflation Concern

Published

on

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

28 structures affected by the Ghatkopar road widening project demolished.

Published

on

Mumbai: Yesterday (October 7, 2026), the ‘N’ Ward office of the Mumbai Municipal Corporation carried out a demolition drive targeting 28 structures in Ghatkopar (West) that were affected by the road-widening project between Jhunjhunwala College and the Andheri-Ghatkopar Link Road.

This demolition campaign was conducted under the supervision of Assistant Commissioner (‘N’ Ward) Jaydeep More.

Adequate police security was deployed alongside municipal officers and staff during the operation.

Continue Reading

Maharashtra

Man arrested in Mumbai for defrauding senior citizens and others using fake APK files.

Published

on

In a case involving the defrauding of a 72-year-old senior citizen in Mumbai on August 13, an unidentified caller—posing as Dinesh Kumar, a Senior Manager at Bank of India—gained the victim’s trust by promising to facilitate the issuance of a Senior Citizen Card. The caller sent an APK file named “Senior Citizen Card http://Verification.apk” to the complainant’s WhatsApp and coerced them into entering personal and bank debit card details, resulting in the misappropriation of ₹5,62,000. Initially, the Byculla Police Station registered a case (No. 497/26) under Sections 318(4) and 319(2) of the BNS and Sections 66(C) and (D) of the Information Technology Act, 2000. While the Property Cell of the Mumbai Crime Branch was conducting a parallel investigation, senior officials ordered the transfer of the case to the Crime Branch; it was subsequently re-registered as Case No. 927/2026 for further investigation.

A thorough technical analysis of the aforementioned APK file was conducted, leading to the identification and arrest of the accused—a 36-year-old male software developer and resident of Madhya Pradesh—who was responsible for developing the fraudulent APK file. During a raid on the accused’s office in Madhya Pradesh, authorities recovered a pen drive, a CPU, three hard disks, a Wi-Fi router, and three mobile phones. Preliminary technical analysis revealed that the accused was utilizing servers from various service provider companies. Investigation confirmed that the accused had created and sold a total of 2,805 malicious APK files to other cybercriminal gangs. These files were used to defraud 9,673 people across India. Complaints regarding these incidents have been registered on the cyber helpline number 1930—specifically 1,074 nationwide, 143 in Maharashtra, and 36 in Mumbai—revealing a total fraud amount of ₹15.75 crore. Cases have been cracked involving 88 incidents across India, 8 in Maharashtra, and 5 in Mumbai.

This successful operation was executed by a team comprising Police Commissioner Devin, Joint Police Commissioner Anil Kumbhare, Additional Commissioner Krishna Kant Upadhyay, DCP (Crime) Raj Tilak Roshan, and the Crime Branch. DCP Raj Tilak Roshan stated that this action was taken in response to fraud targeting the elderly under the guise of issuing senior citizen cards; the police also regularly conduct awareness campaigns among the elderly regarding this issue.

Continue Reading

Maharashtra

Mumbai CSMT: Case Filed Against Garjana Morcha Over Demand to Scrap SIR; Nitesh Rane Defends Action, Calls for Aditya Thackeray Passport to Be Seized

Published

on

Mumbai: The Mumbai Police have registered a case against the organizers of the ‘Garjana Morcha’ (Roaring Rally), which was held without permission at Azad Maidan near the BMC headquarters. The protest, organized by Shiv Sena chief Uddhav Thackeray and MNS chief Raj Thackeray, saw the participation of party workers from across Mumbai and the state. During the event, demands were raised to cancel the FIR, and Raj Thackeray—in his address—termed the FIR itself illegal; he also proposed a boycott of the elections. The Mumbai Police have registered the case under Sections 223, 189, and 190 of the BNS. Authorities stated that the case was filed due to the unlawful assembly of a crowd. The Azad Maidan Police have initiated an investigation into the matter, and the case has been registered against the organizers as well as other leaders. A case must be registered for an illegal protest: Nitesh Rane
Following the police case registered after the Azad Maidan protest, BJP leader and minister Nitesh Rane stated that filing a case for an unauthorized, illegal protest is mandatory because the Constitution of Babasaheb Ambedkar prevails here. He alleged that the protest was held for “Vote Jihad.” Furthermore, in a vitriolic outburst, Rane noted that Aaditya Thackeray was absent from the protest organized by Uddhav and Raj Thackeray; claiming Aaditya knew action would be taken against him and might flee, Rane demanded that his passport be confiscated.

Continue Reading

Trending