Extreme weather may pose risk to inflation, says RBI Bulletin
Mumbai (PTI): Extreme weather conditions may pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile, the Reserve Bank's April Bulletin said on Tuesday.
The retail based on the Consumer Price Index (CPI) has eased to 4.9 per cent in March after averaging 5.1 per cent in the preceding two months.
The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front.
An article on 'State of the Economy' published in the Bulletin further said global growth momentum has been sustained in the first quarter of 2024, and the outlook for world trade is turning positive.
Treasury yields and mortgage rates are ticking up in major economies as expectations of interest rate cuts are being pared.
"In India, conditions are shaping up for an extension of a trend upshift in real GDP growth, backed by strong investment demand and upbeat business and consumer sentiments," the article said.
The RBI, however, said the views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.
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4 held for sexually assaulting woman, girl on moving bus after social media alert in UP's Agra
Agra (UP) (PTI): Four people were arrested, after a prompt response by police following a social media alert, for allegedly sexually assaulting a woman and a girl inside a moving bus here, officials said on Tuesday.
According to an official police statement, at 12:27 am on April 27, information was received on the social media platform X about an incident of sexual assault on a bus travelling from Kanpur to Ahmedabad, which was approaching Namner crossing in Agra.
Acting under the direction of Police Commissioner Deepak Kumar, the Agra Police social media team immediately alerted the Rakabganj police station within minutes and coordinated with the victims to confirm the incident and obtain the exact location, it stated.
Police teams launched intensive checking at Namner crossing and intercepted the bus as it reached the spot. The four accused involved in the incident were apprehended on the spot, and legal action was initiated against them, the statement said.
The police said the swift response and coordination between the social media team and field units ensured timely action, bringing relief to the victims and other passengers, who expressed gratitude towards the police, it added.
