India News
RBI hikes interest rates by 0.25 per cent to bring it to 6.5 per cent; loans and EMIs to get costlier

Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday, August 1, raised the interest rate by 0.25 per cent on inflationary concerns.
In its third bi-monthly policy of the current fiscal, the RBI decided to raise benchmark repo or the short term rate at which it lends to other banks by 25 basis points, or 0.25 per cent, to 6.5 per cent.
The reverse repo rate – rate at which the RBI borrows from commercial banks – under the liquidity adjustment facility (LAF) stands adjusted to 6.25% and marginal standing facility rate and Bank Rate to 6.75%.
The RBI cited rising crude oil prices, volatility in global financial markets, and uncertainty around the full impact of MSP (minimum support price) on inflation among the key factors for its rate-hike decision.
However, the 6-member MPC headed by RBI Governor Urjit Patel kept its stance at neutral. For July-September, it pegged CPI-based retail inflation at 4.2 per cent which it saw firming up to 4.8 per cent in the second half of the current fiscal, media reports said.
The projected inflation rate is above its targeted comfort level of 4 per cent.
RBI kept the GDP growth forecast for the current fiscal unchanged at 7.4 per cent and saw it at 7.5-7.6 per cent in the second half of the current fiscal.
The hike in June was the first time the benchmark lending rate was raised in over four years. This is now the first time since October 2013 that the central bank has raised the repo rate at two consecutive policy meetings.
For those who have taken loans from banks, the RBI’s latest development has come as a bad news. The hike would make home, car loan EMIs costlier.
Experts were surprised with RBI’s neutral stance, reported NDTV. “The hike was expected, but what is surprising is the stance has remained ‘neutral’. We were expecting that since this is the second consecutive hike in two policies, the stance would be changed to ‘tightening’,” Anagha Deodhar, Economist, ICICI Securities was quoted as saying.
RBI projected inflation at 4.6 per cent in second quarter of fiscal 2019, 4.8 per cent in second half of 2018-19 and 5 per cent in first quarter of 2019-20. In June, RBI had projected consumer inflation at 4.8-4.9 per cent in the first half and 4.7 per cent in the second half of 2018-19.
Annual consumer inflation hit 5 per cent in June, the eighth straight month it topped the RBI’s medium-term 4 percent target.
The next MPC meet which will be during the festive season may not see a rate increase. The next meeting of the MPC is scheduled from October 3 to 5, 2018.
India News
Coding Ninjas faces social media criticism over prohibiting staff from leaving office without permission
According to the Indian labor law, the rights to safe working place with basic amenities, right to appropriate working hours, right to any assured incentive are protected under the law. There are many instances when companies have violated the Indian Labour Law

Computer training institute Coding Ninjas is facing a backlash after a video went viral in which a watchman can be seen locking doors of an office of Coding Ninjas so that employees could not exit without permission from the office.
Ed-tech entrepreneur Ravi Handa shared a video on Twitter saying Indian ed-tech founders are now literally locking their employees. He said that this company should to get out of this country. Nowhere else would anyone dare to pull off something like, they do in India.
Responding to the person, recording the video, the watchman informed that one of the managers has ordered to not let employees out of the office without permission. After the video went viral, several people on the internet reacted to it and demanded the strict action. People said such behaviour raises many serious concerns.
A Coding Ninjas spokesperson issued a statement, clarifying that the incident that occurred two days ago and was due to a regrettable action by an employee in one of their offices. He added the same was immediately rectified within a few minutes. The employee acknowledged his mistake and apologized for such behaviour. Disciplinary action has been taken against the concerned employee as the company believes in their values and culture as an organization. As the incident caught everyone’s attention, the founders of the Coding Ninjas also expressed their regret and issued an apology to all their employees.
According to Indian labour law, the rights to safe working place with basic amenities, right to appropriate working hours, right to any assured incentive are protected under the law. There are many instances when companies have violated the Indian labour law. The authorities have to be more active in terms of labour law to check if they are being followed properly by companies.
India News
Tollbooth staffer dies after being assaulted by four persons on Mysuru-Bengaluru expressway | Watch viral video
The deceased has been identified as Pawan Kumar, a resident of Karikal Tandya in Bengaluru

In a shocking incident, an employee of the Mysuru-Bengaluru Expressway toll plaza was beaten to death in Karnataka’s Ramanagar district. A video of the incident is now viral on the Internet.
In the viral video, some people on a highway can be seen hitting a man, reportedly for a fight over paying the toll fee.
The deceased has been identified as Pawan Kumar, a resident of Karikal Tandya in Bengaluru Taluk. His colleague Manjunath was also injured in the attack.
The incident took place on June 4, Sunday night, when an argument broke out between the toll staff and a group of men over paying the toll fee. The accused allegedly had a heated argument with the staff over the delay, which lead to a fistfight.
The passers-by stopped and pacified. It seemed that the fight was over for the time being but the angry accused reportedly waited for Kumar, the victim.
At midnight, as Kumar stepped out of the plaza, the four people attacked him and Manjunath with hockey sticks. The whole incident was captured on CCTV. Both were taken to the hospital where Pawan Kumar died because of the injuries. The accused fled the scene after the incident.
The Police have registered a case of murder and an investigation is ongoing to catch the accused at the earliest. According to the police, the accused have been identified based on the CCTV camera footage of the incident and is said to be from Bengaluru.
Users filled the comments section, where one person wrote, the accused should join school again and learn the importance of peace. Another user wrote that toll plaza employees should be taught how to behave as they misbehave with the commuters. He added the situation was good when the female employees were deployed in the tollbooth.
A user wrote it was a total failure of the law and order implementation by the local police.
Reports said local commuters have been protesting against the toll collection in the expressway as similar incidents of heated arguments with the toll employees have been reported in the past.
The Mysuru-Bengaluru expressway was inaugurated on March 12 by Prime Minister Narendra Modi. The local commuters have complained, whenever they travel by the Bengaluru-Mysuru expressway, there is a delay in opening the barrier despite a fast tag. The toll plaza employees said there had been a technical issue as there is a delay in the detection of vehicles near the toll plaza by the sensors.
Bihar news
Bride gets kidnapped by her brother over inter-caste marriage in Bihar’s Araria, video viral
After the incident Police reached the parent’s house and rescued her from them. The incidence took place in Shyamnagar village in Araria on June 3 which is going viral on social media. The woman is identified as Rupa Kumari who was in love with her boyfriend Chotu Kumar for a long time.

A video is doing a rounds on internet, a young girl is forcefully abducted by the two men happened to be her relatives. The distressing incident can be seen in the video, it is being claimed that the girl choose to marry someone from another caste. The young girl tied the knot with her lover a few days ago against the family decision since the groom had a different caste.
After the incident Police reached the parent’s house and rescued her from them. The incidence took place in Shyamnagar village in Araria on June 3 which is going viral on social media. The woman is identified as Rupa Kumari who was in love with her boyfriend Chotu Kumar for a long time. As her family members were against their marriage, they planned to escape on May 28 and went to adjoining Supaul district where they got married in a temple and also held a court marriage.
The family member of Chotu Kumar reached Supaul when they learned about their marriage and brought them back home. As the family member of the girl was against this marriage, a panchayat meeting was organized to resolve the issue.
The father of Chotu Surensh Kumar Thakur claimed that the family member of the girl attacked him while the panchayat meeting was underway. He said they were also looking for his son Chotu, doubting their intention he did not bring his son to the panchayat meeting. Taking the advantage of it, the girl’s brother dragged her to the bike and fled away from the spot.
SDPO, Forbesganj, Khusru Siraj said when the incident came to their notice, a team immediately rushed at the spot and managed to bring the girl from the captivity of her parents. The family members of the girl were involved in physical assault of Chotu’s father. The Police have registered an FIR in this connection on the statement of the girl and Chotu’s father.
-
India News10 hours ago
Gujarat villagers chop off Dalit man’s thumb after his nephew picks up ball at cricket match
-
India News11 hours ago
Odisha train crash: Father travelled 230 km to locate son, who was declared dead, later finds him alive in morgue
-
India News14 hours ago
Odisha train accident: 101 bodies still to be identified, 200 injured undergoing treatment
-
India News14 hours ago
Korean man who returned Patna after 3 years stunned social media users with his Bihari Accent | Watch
-
India News14 hours ago
Security beefed up at Golden Temple on Operation Blue Star’s 39th anniversary
-
India News16 hours ago
Delhi Police records statement of 12 people at WFI chief Brij Bhushan Singh’s home in UP’s Gonda
-
Latest world news11 hours ago
White House hails India’s democracy, calls it vibrant ahead of Prime Minister Modi’s US tour later this month
-
Tech9 hours ago
Apple Vision Pro: Company launches a futuristic product based on Augmented Reality | Take a closer look on the device its price and features