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RBI cuts repo rate by 0.25% to bring it to 5.15%, reverse repo rate at 4.9%; fifth cut this year

The Reserve Bank of India cut its repo rate by 25 basis points to 5.15 percent, the fifth cut this year, in a bid to boost the flow of credit and reverse economic slowdown.

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RBI Governor Shaktikanta

[vc_row][vc_column][vc_column_text]The Reserve Bank of India (RBI) today – Friday, Oct 4 – cut its repo rate by 25 basis points to 5.15 percent, the fifth time this year, in a bid to boost the flow of credit and reverse economic slowdown. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text css=”.vc_custom_1570179377756{border-top-width: 10px !important;border-right-width: 10px !important;border-bottom-width: 10px !important;border-left-width: 10px !important;padding-top: 10px !important;padding-right: 10px !important;padding-bottom: 10px !important;padding-left: 10px !important;background-color: #b2b2b2 !important;border-radius: 10px !important;}”]Repo rate is the rate of interest at which the RBI lends money to commercial banks, reverse repo rate is the rate at which it borrows. 

One basis point is a hundredth of a percentage point and 25 basis points means 0.25%.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The central bank also decided to continue with an accommodative stance “as long as it is necessary” to revive growth, while ensuring inflation remains within the target.

All members of the six-member Monetary Policy Committee (MPC), that met on October 4 to review interest rates, voted to reduce the policy rate, the RBI said.

With this cut, the repo rate, which serves as the MPC’s policy rate, has been reduced for the fifth consecutive time this year, the total coming to 135 basis points. Lower interest rates are expected to make home and vehicle loans cheaper. However, banks have passed on only a fraction of these cuts so far, said reports.

The MPC meeting comes in the backdrop of RBI’s mandate to banks to link their loan products to an external benchmark, like repo rate, for faster transmission of reduction in policy rates to borrowers, from October 1.

The MPC also sharply reduced its growth forecast for the fiscal year 2019-2020 to 6.1% from 6.9% earlier. The committee noted that risks to growth have emerged due to weak domestic demand and sagging export prospects on account of continuing trade tensions. MPC on the other hand retained its consumer price inflation forecast for the second half of the fiscal year 2019-202 as expected at 3.5%-3.7%

The RBI said that while these measures are likely to help strengthen private consumption and spur private investment activity, the continuing slowdown warrants intensified efforts to restore the growth momentum.

The Indian economy grew at the pace of just 5 percent in the June-ended quarter, it’s slowest since 2013. This triggered a slew of measures by the government and the central bank in past few months, including a corporate tax rate cut and setting up loan melas to encourage fresh investments.

Inflation has remained well within the MPC’s target of 4 percent for the past 13 months, giving room for the central bank to respond with policy rate cuts.

“With inflation expected to remain below target in the remaining period of 2019-20 and first quarter of 2020-21, there is policy space to address these growth concerns by reinvigorating domestic demand within the flexible inflation targeting mandate,” RBI said.

The MPC was largely expected to vote in the favour of a rate cut and back government’s efforts to address the current economic slowdown.

The MPC is next scheduled to meet during December 3-5, 2019.

The announcements from the six-member Monetary Policy Committee (MPC) came after a three-day meeting. The rate cut comes at a time when the Indian economy is facing its worst slowdown since the dip in economic activity following the global financial crisis of 2008-09.[/vc_column_text][/vc_column][/vc_row]

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Thackeray cousins reunite for Mumbai civic polls, announce Shiv Sena UBT–MNS alliance

Uddhav and Raj Thackeray have reunited after two decades, announcing a Shiv Sena–MNS alliance for the upcoming BMC elections with a focus on Marathi identity.

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Shiv sena ubt mns alliance

The long political estrangement between Uddhav Thackeray and Raj Thackeray has ended, with the cousins formally announcing an alliance for the upcoming Brihanmumbai Municipal Corporation (BMC) elections. The joint decision marks a significant shift in Mumbai’s civic politics, placing Marathi identity at the centre of the campaign.

At a joint press conference, Raj Thackeray declared that the Shiv Sena and Maharashtra Navnirman Sena (MNS) would contest the local body elections together. He asserted that Mumbai would get a Marathi mayor, adding that the mayor would come from the Shiv Sena–MNS alliance. Uddhav Thackeray, seated alongside him, echoed the confidence, stating that Mumbai would remain with them “come what may”.

Focus on unity and Marathi identity

Uddhav Thackeray underlined the importance of unity, invoking the slogan “batenge toh katenge” to warn against division. Raj Thackeray said the alliance would work to ensure that Marathi people get what they want, reinforcing the emphasis on regional identity that once defined the politics shaped by Shiv Sena founder Bal Thackeray.

The cousins, who have come together after nearly two decades, also appealed to leaders and workers unhappy with the Shiv Sena faction aligned with the BJP to join their front. The message was aimed at consolidating forces opposed to the ruling coalition in the state.

Seat-sharing and poll preparations

Elections to the BMC are due within a month, with voting scheduled for January 15. Political parties have already begun preparations for a high-intensity campaign to gain control of the country’s richest municipal body.

Uddhav Thackeray said that seat-sharing arrangements for Mumbai, Nashik and other municipal bodies have been finalised, though details were not disclosed. Sources indicated that the Shiv Sena faction led by Uddhav Thackeray could contest around 145–150 seats, while the MNS may field candidates in 65–70 seats. The remaining seats are expected to be contested by allies, including a faction of the NCP.

Strategic reunion against rivals

The alliance shifts the political narrative from disputes over the “real Sena” to a united front led by the Thackeray family, signalling continuity with Bal Thackeray’s legacy. Party leaders described the reunion as a moment of significance for Marathi voters and Maharashtra.

The combination brings together Uddhav Thackeray’s support among traditional Sena loyalists and Raj Thackeray’s appeal among younger voters, positioning the alliance as a key challenger in the civic polls. Raj Thackeray’s return to the fold is also expected to consolidate the Marathi vote bank that had earlier moved towards the MNS, impacting rival formations in Mumbai.

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Nitin Gadkari flags Delhi air pollution, says two-day stay causes infection

Union minister Nitin Gadkari says spending two days in Delhi leads to infection, flags fossil fuel use as a major cause of pollution and calls for alternative energy solutions.

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Union Minister Nitin Gadkari

Delhi’s worsening air quality has drawn sharp criticism from within the ruling BJP, with Union minister Nitin Gadkari saying that even a brief stay in the national capital affects his health.

Speaking at a public event in Delhi, Gadkari remarked that spending just two days in the city results in an infection, raising questions over why the capital continues to struggle with severe pollution levels. His comments come at a time when the Air Quality Index has remained in the ‘very poor’ and ‘severe’ categories for weeks.

The Union minister, who handles the road transport and highways portfolio, acknowledged that the transport sector plays a major role in pollution. He said around 40 per cent of pollution is linked to fossil fuel usage and pointed out that India spends nearly Rs 22 lakh crore on importing fossil fuels, which also contributes to environmental damage.

Gadkari pushes for alternative fuels and exports

Gadkari stressed that promoting alternative fuel and biofuel technologies should be seen as a form of true nationalism. He argued that reducing imports and increasing exports would strengthen the country economically while also addressing pollution. According to him, resistance to eco-friendly technologies remains a major hurdle despite their long-term benefits.

Remarks on communal issues and secularism

During the same address, Gadkari said it was incorrect to label every Muslim as a terrorist, emphasising that there are varying degrees of extremism. He cited former President A P J Abdul Kalam as a national icon and underlined the importance of education, especially among marginalised sections.

He further claimed that Hindu-Muslim tensions in the country are a result of vote bank politics pursued by the Congress. Defining secularism as “justice for all”, Gadkari said policies driven by electoral considerations had created divisions. He asserted that Indian culture is neither communal nor casteist and described Hindutva as tolerant and inclusive.

Reiterating views earlier expressed by former prime minister Atal Bihari Vajpayee, Gadkari said India was, is, and will remain a secular country, rooted in its cultural traditions that advocate welfare for all.

Political reactions over pollution issue

The BJP-led governments at the Centre and in Delhi have faced criticism over their handling of air pollution. Congress leader Imran Masood responded to Gadkari’s remarks by saying that the minister had at least acknowledged the seriousness of the problem. He added that pollution cannot be attributed only to vehicles, noting that similar vehicles operate outside Delhi as well.

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Over 24 lakh voters dropped from Kerala draft electoral roll after special revision

The Election Commission has removed over 24 lakh names from Kerala’s draft voter lists after verification during the Special Intensive Revision process.

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Over 24.08 lakh electors have been removed from the draft voter lists in Kerala following the completion of the Special Intensive Revision (SIR) exercise, with the Election Commission publishing the updated draft electoral roll on Tuesday.

As per official data, Kerala has a total of 2,78,50,855 registered electors. Of these, 2,54,42,352 electors submitted their Enumeration Forms during the revision process, which concluded on December 18.

The poll body said the deletions were carried out after verification and were linked to multiple factors, including electors shifting to other states or Union Territories, voters found to be non-existent, individuals who did not submit enumeration forms within the stipulated time, and those who chose not to continue their registration.

Break-up of deleted names

According to the Election Commission, the deleted entries include 6,49,885 names of deceased voters, accounting for 2.33 per cent of the electorate. Another 14,61,769 voters, or 5.25 per cent, were removed after being found shifted or absent, while 1,36,029 voters, around 0.49 per cent, were deleted for being enrolled at multiple locations.

Claims and objections window open

Although the enumeration phase has ended, eligible citizens can still seek corrections. The Commission has opened a claims and objections period from December 23 to January 22, 2026, allowing applications for inclusion of eligible voters or removal of ineligible names from the rolls.

The final electoral roll for Kerala is scheduled to be published on February 21, 2026.

Awareness drives and field-level efforts

The Election Commission said extensive awareness campaigns were conducted across the state to ensure maximum participation. Senior election officials held regular meetings with political parties at the state, district and assembly constituency levels to explain the revision process and share progress updates.

Booth Level Officers (BLOs) carried out house-to-house visits to all electors listed as of October 27, distributing Enumeration Forms and making at least three follow-up visits for collection. Booth Level Agents were permitted to submit up to 50 forms per day to strengthen coordination at the grassroots level.

To support field staff, BLOs were assisted by Anganwadi workers, students from NCC, NSS and election literacy clubs, volunteers, revenue officials and social work students. The poll body said more than 93 per cent mapping of collected forms was achieved through repeated training sessions, video tutorials and doubt-clearing programmes.

Special initiatives during SIR

During the exercise, the Chief Electoral Officer of Kerala launched motivational and outreach initiatives aimed at supporting election staff managing the heavy workload of digitising voter data. District-level programmes were also rolled out to recognise and motivate BLOs and supervisors completing digitisation targets.

In areas with weak network connectivity, a community-based digitisation model was adopted, where BLOs collectively digitised forms from locations with better internet access. Special urban camps were organised across all wards of urban local bodies to ensure comprehensive coverage of city voters.

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