RBI might slightly cut interest rate: Former CEA Kaushik Basu
Kolkata, Jan 14: Former chief economic advisor Kaushik Basu on Monday said the Reserve Bank of India (RBI) could "slightly" reduce interest rate to boost growth.
"NPAs have made the banks cautious. But, India can do with slightly lower rate of interest," Basu said at an interactive session organised by the Indian Chamber of Commerce here.
The central bank should be left alone with complete autonomy, he added.
The RBI's monetary policy review is slated in February.
Basu also said that the investment rate in India was on the decline.
Talking about the GST, he said it was borrowed from advanced countries and "poorly implemented", and demonetisation was a "bad idea".
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Youngster attacked by gang in Koppal: FIR against 30 people; three arrested
Koppal: Police in Koppal City station limits have registered a case against more than 30 people and arrested three in connection with an alleged assault on a youngster over his relationship.
According to the complaint, Sameer Ahmed Moolimani (22), who works at a mobile agency, was sitting at a hotel with his girlfriend around 8:30 pm on May 6 when a group of youngsters approached him and asked his identity. He said that he was attacked after informing them about the relationship.
Sameer said in his complaint: “They blindfolded me, took me on a bike towards the Hospet side of the national highway, and assaulted me. They asked me, ‘Do you love a Hindu girl?’ They also threatened me, saying, ‘If I am seen with her again, I will not leave you alive.’"
He also stated that after the assault, he was blindfolded and later left near the district hospital.
Police have registered a case at Koppal City police station against more than 30 people, including the girl’s brothers Ashish and Nilesh. Three people have been arrested so far, and investigation is in progress.
