RBI hikes repo rate by 25 basis points to 6.5 %
Mumbai (PTI): The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation.
This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points.
Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
"Policy rate at 6.5 per cent still trails the pre-pandemic level," Das said, adding that core inflation will remain sticky.
Core inflation generally refers to inflation in manufactured goods.
The governor said the inflation will moderate in the next fiscal but remain above the 4 per cent level. The RBI is mandated to keep inflation at 4 per cent with a margin of 2 per cent on either side.
For the next fiscal, the RBI projected a growth rate of 6.4 per cent. In the latest Economic Survey of the finance ministry, growth projection was 6-6.8 per cent for 2023-24.
According to Das, the retail inflation will average 6.5 per cent in the current fiscal and moderate to 5.3 per cent in 2023-24.
Indian economy has remained resilient demand global headwinds, Das said.
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Five teachers suspended for facilitating mass copying during Class 12 exam in Beed
Beed (PTI): Five teachers, who were caught allegedly facilitating large-scale copying during an HSC (Class 12) examination paper at a centre in Maharashtra's Beed district, have been suspended, an official said on Tuesday.
The police had registered a first information report (FIR) against 17 teachers after a drone camera exposed large-scale copying on February 10, the first day of the Class 12 exams conducted by the Maharashtra State Board of Secondary and Higher Secondary Education, at Centre 224 in Chousala.
Drone-mounted surveillance cameras deployed by the authorities captured supervisors in 16 examination halls, not only failing to prevent copying but also allegedly helping students cheat openly.
The official said five teachers from Bhalchandra Vidyalaya in Limbaganesh have been suspended in connection with the malpractice, and 12 from three other schools and junior colleges are under investigation and may face suspension as the probe widens.
After learning about the February 10 incident, Beed Collector Vivek Johnson ordered strict action against those responsible for the lapse.
Accordingly, an FIR was registered against 17 teachers, including the chief conductor of the exam centre, at Neknoor police station and charges under the Maharashtra Universities, Boards and Other Specified Examinations (Prevention of Malpractices) Act and Bharatiya Nyaya Sanhita were invoked.
The Education Department subsequently directed the concerned institutions to suspend the implicated staff.
