Digvijaya Singh opts out of Cong prez race, to back Kharge
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New Delhi (PTI): Congress leader Digvijaya Singh on Friday announced that he will not contest the party president's election and would instead propose the candidature of his senior Mallikarjun Kharge.
He said he has worked for the Congress all his life and will continue to do so.
"Kharge ji is my leader and my senior. I had asked him yesterday if he wanted to contest. He said no. I met him again today. I told him I am with you fully if you are contesting. I can't think of contesting against him. He is filing his nomination and I will be his proposer," said Singh.
"There are some non-negotiables in my life. I don't compromise on issues related to Dalits, tribals and OBCs; I don't compromise with those who spoil communal harmony and I don't compromise my commitment to the Gandhi family," he said.
Singh had expressed his inclination to contest the top party post and had collected 10 sets of nomination papers on Thursday after Rajasthan Chief Minister Ashok Gehlot opted out of the race.
The 'one man, one post' formula will apply to Kharge, as in the case of Gehlot, who was asked to quit as chief minister if he contested for the top party post.
Thiruvananthapuram MP Shashi Tharoor will also file his nomination papers on Friday.
A tent has been set up in the lawns of the AICC headquarters here and party leaders can file their nomination papers between 11 am and 3 pm.
Polling will take place on October 17 and the result will be announced on October 19.
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RBI trims policy interest rate by 25bps to 5.25pc, loans to get cheaper
Mumbai (PTI): Shrugging off concerns over the depreciation of rupee, the RBI has cut interest rate by 25 basis points to 5.25 per cent in a bid to further bolster economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.
The development is expected to make advances, including housing, auto and commercial loans cheaper.
Announcing the fifth bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to cut the short-term lending rate or repo rate by 25 basis points to 5.25 per cent with a neutral stance.
The rate cut comes on the back of the consumer price index (CPI) based headline retail inflation ruling below the 2 per cent lower band mandated by the government for the last three months.
India's retail inflation dropped to a historic low of 0.25 per cent in October 2025, marking the lowest level since the Consumer Price Index (CPI) series was introduced. Besides, the Indian economy has clocked better-than-expected GDP growth of 8.2 per cent in the second quarter.
However, the rupee declined to historic low and crossed 90 against a dollar earlier this week making imports costlier, raising fears of rise in inflation. Rupee has depreciated by about 5 per cent so far this year.
The RBI has sharply raised growth projection to 7.3 per cent from earlier 6.8 per cent for the current financial year.
The central bank has been tasked by the government to ensure that CPI- based retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
Based on the recommendation of the MPC, the RBI reduced the repo rate by 25 bps each in February and April, and 50 basis points in June amidst easing retail inflation.
The retail inflation is trending below 4 per cent since February this year. It eased to historic low in October, aided by an easing of food prices and favourable base effect.
