Eid-ul-Fitr in Saudi Arabia on April 10: Authorities confirm
Riyadh: Saudi Arabia has officially declared Wednesday, April 10, as the first day of Eid Al Fitr, following the non-sighting of the crescent moon on Monday evening. This announcement signifies that the holy month of Ramadan will extend for 30 days this year in the Kingdom.
Previously, Saudi Arabia's Supreme Court had urged Muslims across the nation to watch for the crescent moon on the 29th day of Ramadan, corresponding to Monday, April 8, 2024, according to the Gregorian calendar.
BREAKING NEWS: Eid Al Fitr 1445/2024 is on Wednesday, 10 April 2024.
— Inside the Haramain (@insharifain) April 8, 2024
The Crescent was NOT SEEN in the Kingdom today pic.twitter.com/6L455GysPh
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I am Sanjay but not Sanjay of Mahabharat who can predict rate cuts, says RBI guv
Mumbai (PTI): I am Sanjay but not Sanjay of Mahabharat who can predict future rate actions and at what level rate moderation will stop amid the ongoing global uncertainties, RBI Governor Sanjay Malhotra said on Wednesday.
Malhotra's remarks came at a media briefing on being asked if more interest rate cuts are in the offing, after he delivered the second straight interest rate cut since taking over as the RBI governor.
According to the Mahabharat, Sanjay was blessed with divine vision and used his power to relay actions at the Kurushetra battlefield to blind King Dhritarashtra at his palace.
He further said monetary policy and fiscal policy are acting in tandem to meet the growth-inflation targets.
"It is a joint effort... the government has done its bit in the Budget recently by taking a large number of measures in terms of the increased capex, tax rebates and we have reduced repo rate and changed the stance going forward, which means that the direction of the policy repo rate is downwards.
"Where it will reach… we really don't know. I am Sanjay, but I am not Sanjay of Mahabharat to be able to foresee that far. I do not have the divine vision that he had," he said.
He further said "we will jointly (with the government) try to manage the growth and the inflation dynamics in our country".
Earlier in the day, Malhotra announced repo rate cut for the second consecutive time and signalled more easing ahead as the Reserve Bank of India (RBI) sought to bolster the economy in face of further pressure from damaging US tariffs.
Following the rate cut of 25 basis points, the key policy rate eased to 6 per cent. The move lowers borrowing costs to the lowest level since November 2022, amid easing inflation and a fall in oil prices.
Malhotra also assured that the RBI will maintain sufficient liquidity for speedier rate cut transmission.
We will provide sufficient liquidity for the purposes of monetary policy transmission.
