RBI KEEPS POLICY RATES UNCHANGED, SAYS THE WORST IS OVER FOR THE ECONOMY

Keeping the benchmark interest rate unchanged, the RBI yesterday announced

several additional measures to revive the economy, including a Rs 1 lakh

crore liquidity chest for banks for lending via bonds and commercial papers

in specific sectors.

Addressing the media after the three-day meeting of the reconstituted

Monetary Policy Committee (MPC), RBI chief Shaktikanta Das gave an insight

into the government's thinking about reviving the economy. "In my view, it

is likely to be a three-speed recovery, with individual sectors showing

varying paces, depending on sector-specific realities," he said.

The sectors that would "open their accounts first" are agriculture and

allied activities, FMCG, two-wheelers, passenger vehicles and tractors;

drugs and pharmaceuticals; and electricity generation, especially renewable.

The central bank signalled more easing ahead to support an economy that it

sees contracting 9.5 per cent in the current fiscal. The MPC voted

unanimously to retain the repo rate at 4 per cent while keeping its policy

stance accommodative, implying it could ease again.

The RBI also decided to revise the differential risk weights applicable to

individual housing loans, based on the size of the loan as well as the

loan-to-value ratio (LTV).

Das spoke of the Indian economy entering into a decisive phase in the fight

against the pandemic as several high-frequency indicators point to the

easing of contractions and the emergence of growth impulses. Kharif sowing

especially had surpassed last year's acreage while improved soil moisture

conditions, along with healthy reservoir levels, have brightened the outlook

for the Rabi season. Early estimates suggest that foodgrain production is

set to cross another record in 2020-21.

With migrant labour returning to work, factories and construction activity

are coming back to life. This is reflected in the rising levels of energy

consumption and population mobility. "The mood of the nation has shifted

from fear and despair to confidence and hope," he noted.

Extending its gains for the seventh straight session, the longest winning

streak in almost a year, the Sensex rose by 326.82 points to 40,509.49 on

Friday.

NDA'S CABINET HAS NO NON-BJP MINISTER NOW

The National Democratic Alliance is India's largest political grouping on

paper, but with the demise of Union minister Ram Vilas Paswan on Thursday

and the Shiromani Akali Dal's exit from it last month, all berths in the

Union Cabinet are occupied by the Bharatiya Janata Party. There is only one

non-BJP minister in the entire 51-member strong union council of ministers:

Republican Part of India (Athawale) chief Ramdas Athawle (the minister of

state for social justice and empowerment).

The BJP-led pan-India alliance of 24 political parties gave three slots in

the Cabinet to allies when it returned with a thumping majority in 2019.

Anant Geete from Shiv Sena was named heavy industries minister, Akali Dal's

Harsimrat Kaur Badal was food processing minister, and Ramvilas Paswan had

the consumer affairs, food and public distribution portfolio.

Last year, Geete resigned from the Cabinet after the Shiv Sena dumped the

BJP to go with the Congress and the Nationalist Congress Party to form the

Maharashtra government. Last month, an angry Harsimrat Kaur Badal resigned

from the NDA protesting the three new farm laws. And Lok Janshakti Party

patriarch Ram Vilas Paswan died after prolonged illness on Thursday.

INDIA SUCCESSFULLY TEST-FIRES ANTI-RADIATION MISSILE RUDRAM-1

In a major milestone, India on Friday successfully test-fired a new

generation anti-radiation missile from a Su-30 MKI fighter aircraft of the

Indian Air Force that can destroy a wide variety of enemy radars, air

defence systems and communication networks from large stand-off ranges,

officials said.

The missile, Rudram-1, is India's first indigenously developed

anti-radiation weapon system and it was test-fired by the Defence Research

and Development Organisation (DRDO), at an integrated test range in Balasore

in Odisha at around 10:30 AM, officials said.

They said the missile, having a speed twice the speed of sound, is capable

of bringing down a wide-range of enemy radar systems, communication networks

and air defence systems within a range of up to 250 kilometers.

In a statement, the defence ministry said Rudram hit the radiation target

with "pin-point accuracy" and that the test established India's capability

to develop long range air launched anti-radiation missiles.

RAHUL QUESTIONS MODI TURBINE IDEA, MINISTERS HIT BACK

Congress leader Rahul Gandhi yesterday taunted Prime Minister Narendra Modi

for asking if turbines could be used to create drinking water from the

excess moisture in air as well as separating oxygen from air.

The query that triggered the political slugfest was raised by Modi in a

formal conversation with Henrik Andersen, president and CEO of Vestas, a

Danish company that manufactures wind turbines.

A smiling Andersen had replied: ".Come visit me in Denmark, you can be the

idea developer for our research development. I can't say how pleased I am

with your ideas." A visibly elated Modi had burst into laughter.

Rahul Gandhi took to Twitter to point out what was wrong. "The real danger

to India isn't that our Prime Minister doesn't understand. It's the fact

that nobody around him has the guts to tell him."

While many social media users made fun of the Prime Minister, recalling his

earlier questionable comments on matters related to science, the Congress

party's official Twitter handle also ridiculed Modi saying he was playing

the role of a scientist after ruining the economy.

Former Union minister Jairam Ramesh sarcastically said, referring to Modi's

educational qualifications: "This is what happens when you have an MA in

entire political SCIENCE."

BJP ministers and leaders rallied behind Modi, arguing his idea had been

appreciated by Vestas chief Andersen. Railways minister Piyush Goyal

tweeted: "Nobody around Rahul Gandhi has the guts to tell him that he

doesn't understand. He mocks PM Narendra Modi's ideas when the CEO of the

world's leading company endorses them."

Minister of state for home Kiren Rijiju tweeted: ".Narendra Modi ji speaks

after deep research, understanding of subjects.."

INTERNATIONAL AFFAIRS

======================

CHINA CLAIMS CORONAVIRUS BROKE OUT IN WORLD'S VARIOUS PARTS LAST YEAR

China on Friday claimed that the coronavirus broke out in the various parts

of the world last year but it was the only one to have reported and acted

first, refuting the widely-held view that the deadly contagion originated in

Wuhan before turning out to be a pandemic.

China, besides denying the US allegations that Covid-19 has emerged from a

bio-lab in Wuhan, also rejected that it emanated from a wet market in the

central Chinese city from bats or pangolins before infecting humans.

The above comments by Chinese Foreign Ministry spokesperson Hua Chunying

came in response to US Secretary of State Mike Pompeo's allegations of a

cover-up by the ruling Communist Party of China (CPC).

ARMENIA, AZERBAIJAN AGREE ON CEASEFIRE IN NAGORNO-KARABAKH

Officials from Armenia and Azerbaijan on Friday said they have agreed to a

cease-fire in Nagorno-Karbakh starting at noon Saturday.

The top diplomats from the two countries said in a statement that the truce

is intended to exchange prisoners and recover the dead, adding that specific

details will be agreed on later.

The announcement follows 10 hours of talks between the diplomats in Moscow,

which were sponsored by Russian Foreign Minister Sergey Lavrov. Mr. Lavrov

said the cease-fire should pave way for talks on settling the conflict.

The talks between the Foreign Ministers of Armenia and Azerbaijan were held

on invitation from Russian President Vladimir Putin.

NOBEL PEACE PRIZE GOES TO WORLD FOOD PROGRAMME

On Friday, the Norwegian Nobel Committee decided to award the Nobel Peace

Prize 2020 to the United Nation's (UN) World Food Programme (WFP) for its

efforts to combat hunger and for its contribution to bettering conditions

for peace in conflict-affected areas and for preventing the use of hunger

being weaponised in war and conflict.

The WFP, which was established in 1961 at the behest of the US president

Dwight Eisenhower, is the world's largest humanitarian organisation

(certified as the largest by the Guinness World Records in 2002) committed

towards its global goal of ending hunger by the year 2030. Eisenhower

proposed to the UN General Assembly on September 1, 1960, that a, "workable

scheme should be devised for providing food aid through the UN system."

In 2015, eradication of world hunger became one of the UN's Sustainable

Development Goals (SDGs) and WFP is the UN's primary instrument in achieving

that goal.

WFP runs entirely on public donations and was able to raise over $8 billion

last year. Its donors include governments, corporations and individuals.

THE REST

========

SPIKED TRP 'SCAM': MUMBAI POLICE SUMMONS ACCOUNTANTS OF NAMED CHANNELS

The Mumbai Police on Friday issued summons to the chief financial officer of

Republic Media Network to appear before it on Saturday morning in connection

with the "spiked TRP scam".

Also, the accountants of TV channels Box Cinemas and Fakt Marathi, also

alleged to have paid for high TRP along with Republic, have been issued

summons to join the probe.

The police, meanwhile, said it will write to the Broadcast Audience Research

Council (BARC) seeking details of any suspicious activity on the part of a

few other channels, including India Today.

While India Today had been named in the FIR as a channel that allegedly made

payments to Hansa Research Group, which calculates TRP for BARC, to get high

TRP, the Mumbai Police on Friday said that purely on the basis of the

interrogation of the accused, prima facie it does not appear that India

Today was involved in the alleged scam.

Joint Commissioner of Police (Crime) Milind Bharambe said, "However, no one

has been given a clean chit. We will be writing to BARC to find out if there

was any suspicious activity regarding the TRP of India Today. That will be

conclusive evidence of the culpability of any channels involvement in the

scam."

So far, based on the questioning of the two arrested accused - Vishal

Bhandari (21) and Bompally Rao alias Sanju Rao (44) - the police have sought

details of Republic, Box Cinemas and Fakt Marathi from BARC.

According to the Mumbai Police, the manipulation in viewership data has

happened at the data collection stage. Some households, it claims, were

bribed to keep their TVs focused on a few channels. This way viewership was

skewed in favour of these channels.

A BARC India spokesperson said, "As in all our previous cases of suspected

panel homes intrusions, BARC India continues to follow its established

vigilance and disciplinary guidelines. BARC remains steadfastly true to its

purpose to accurately and faithfully report 'What India Watches'. BARC India

appreciates the efforts of the Mumbai Police and will provide the support

asked of it."

FATHER STAN AMONG 8 CHARGE-SHEETED

The NIA yesterday said it had arrested octogenarian human rights activist

and tribal leader Father Stan Swamy from his house in Ranchi for his alleged

role in the Bhima-Koregaon violence near Pune on January 1, 2018. Father

Stan has been remanded in judicial custody till October 23.

Sources said he was an active member of the proscribed CPI (Maoist) and had

received funds through an associate for the organisation's activities. "He

is a convener of the Persecuted Prisoners Solidarity Committee (PPSC), a

frontal organisation of the CPI (Maoist). Documents related to

communications for furthering the activities of the CPI (Maoist) and

propaganda material of the CPI (Maoist) were seized from his possession," a

senior NIA official said.

The cleric is the sixteenth person to be arrested in the case.

LALU YADAV GETS BAIL IN ONE FODDER SCAM CASE, BUT WILL REMAIN IN JAIL

The Jharkhand High Court on Friday granted bail to former Bihar chief

minister Lalu Prasad in a fodder scam case related to Chaibasa treasury.

The case involves fraudulent withdrawals amounting to Rs 33.67 crore from

the Chaibasa treasury in undivided Bihar, when Lalu Prasad was the chief

minister.

The RJD chief, however, will have to remain in jail as he is serving time in

another case related to Dumka treasury.

Earlier, he was granted bail in Deoghar treasury case.

ARREST OF KERALA JOURNALIST, 3 OTHERS UP GOVT'S MOVE TO HIDE HATHRAS CASE

FAILURES, CFI SAYS

The Campus Front of India (CFI), student wing of the Kerala-based Popular

Front of India, Friday said the arrest of a Kerala-based journalist, two CFI

office-bearers, and another man, identified as Alam, is part of a

"distraction strategy" of the Uttar Pradesh government to hide its own

"failures" in the handling of the alleged gang-rape and murder case in

Hathras.

CFI's national general secretary K.A. Rauf Sherif, while addressing the

media, accused the Yogi Adityanath government of trying to muzzle voices of

dissent, especially if they are "Muslims" and "Dalits".

"Look how they led a witch-hunt against anti-CAA protesters like Umar

Khalid, see how they are hounding (Bhim Army chief) Chandra Shekhar Aazad,"

Sherif said.

According to the CFI, Alam is a driver, who was hired for a trip to Hathras,

and has no links with the outfit. "The journalist and the driver got

arrested because they were with the two CFI members. It was easier to charge

them with the draconian law because they are Muslims," Sherif added.

Journalist Siddique Kappan, who works for Malayalam news portal Azhimukham,

had accompanied two CFI officer-bearers, Atiq-ur-Rahman, treasurer, and

Masood Ahmed, Delhi secretary of CFI, to Hathras. Sherif claimed the three

were going to Hathras to express solidarity with the family of the 20-year

old Dalit woman, who was allegedly gang-raped by four upper caste men on 14

September. She died two weeks later.

TWITTER PLACES LIMITS TO SLOW THE SPREAD OF MISLEADING CONTENT

Twitter Inc. announced a handful of product changes intended to make it

harder for users to spread misinformation on the service in the weeks

leading up to the US presidential election.

Some of the changes are related to Twitter's retweet feature, which lets

users share another person's post to their own followers, and is the fastest

way for a tweet to go viral. If someone tries to retweet a post that has

been labeled as false, Twitter will show them "a prompt pointing them to

credible information about the topic," the company said Friday. It will also

put more misleading tweets behind a warning screen, forcing users to click

in order to see the original post.

Twitter will also prompt users to "quote tweet" a post before retweeting it

- asking them to "add their own commentary" to the message instead of just

passing it along.

"Though this adds some extra friction and an extra step for those who simply

want to retweet, we hope it will encourage everyone to not only consider why

they are amplifying a Tweet, but also increase the likelihood that people

add their own thoughts, reactions and perspectives to the conversation," the

company wrote in a blog post.

KARNATAKA COURT DIRECTS POLICE TO REGISTER FIR AGAINST KANGANA RANAUT

A Karnataka court Friday directed a local police station to book actor

Kangana Ranaut for her tweet on farmers protesting the new agri-sector laws.

The ruling came after a private complaint was filed by advocate Ramesh Naik.

"My criminal case against popular Bollywood actress Kangana Ranaut the

Hon'ble Tumkur (Karnataka) JMFC [Judicial Magistrate First Class] Court

directed my jurisdictional police station to register FIR. Justice to all

farmers of this great country India (sic)," the advocate said in a statement

after the ruling.

"People who spread misinformation and rumours about CAA that caused riots

are the same people who are now spreading misinformation about farmers bill

and causing terror in the nation, they are terrorists," Ranaut had tweeted

on September 21.

Alleging that the tweet amounted to causing provocation, hurt, enmity

between groups and intentional insult, the advocate had filed the complaint

against the actor and the state of Karnataka in the Tumkur court on

September 28.

NOVAK DJOKOVIC TO FACE RAFAEL NADAL IN FRENCH OPEN FINAL

Novak Djokovic set up a blockbuster French Open title showdown with Rafael

Nadal on Friday after a dramatic five-set semi-final victory over Greek star

Stefanos Tsitsipas.

World number one Djokovic, the 2016 champion at Roland Garros, reached his

fifth final in Paris, defeating fifth seed Tsitsipas 6-3, 6-2, 5-7, 4-6, 6-1

in a roller-coaster of a contest where he had held a match point in the

third set.

Nadal, the 12-time champion, defeated Diego Schwartzman 6-3, 6-3, 7-6 (7/0)

to make a 13th final at the tournament.

On Sunday, Djokovic can win an 18th major and become the first man in half a

century to win all four Slams twice.

Nadal, the world number two, can equal Roger Federer's all-time record of 20

Grand Slam title wins.

Djokovic is one of only two men to have defeated Nadal at Roland Garros in

15 years.

"This is the house of Rafa," said Djokovic ahead of the pair's 56th career

clash. "I will have the motivation to win. I beat him in the quarter-finals

in 2015 but this will be the biggest challenge - playing Nadal on clay."

IPL: DELHI CAPITALS BEAT ROYALS BY 46 RUNS

Delhi Capitals beat Rajasthan Royals by 46 runs to climb to the top of the

IPL points table. Asked to bat, Delhi scored 184/8 before bowling out Royals

for 138 in 19.4 overs.

With this 46-run victory over Rajasthan Royals, Delhi Capitals are

reinforcing their title-chasing credentials. Their all-weather bowling firm

put on another show of aggression.

Delhi Capitals now have 5 wins from 6 matches while rajasthan Royals have

just 2 wins from their 6.

INDICATORS

Sensex 40,509 (+327), Nifty 11,914 (+80), Trading Value NSE ,(Rs.crores)

56,819.1

Nasdaq 11,580 (+159) Dow 28,587 (+161), S&P 3,477 (+30)

US$-Rs. 72.93 GBP-Rs. 94.68, Euro-Rs. 86.06, UAE Dhm-Rs.19.85, Can$-Rs.

55.43, Aus$- Rs. 52.55

GBP 0.77 /US$, Euro 0.84 /US$, Jap.Yen 105.77 /US$, Aus$ 1.38 /US$, Sing

1.35 /US$, Bang Taka 83.25 /US$, Can$ 1.31 /US$, Mal Ring 4.14 /US$,

Pak Re 163.31 /US$, Phil Peso 48.33 /US$, Russian Rouble 76.99 /US$, NZ$

1.50 /US$, Thai Baht 31.02 /US$, Ukraine Hryvnia 28.01 /US$, Norway NOK 9.19

/US$

Bitcoin - USD 11,391

Dollar Index 93.01 Brent Crude 42.85 BDI 1,970

Gold world Spot Price USD/aoz 1,930 India (Rs. per gm 24k/22k) 5,050 / 4,950

Silver (Rs. Per KG) 60,600

THOUGHT FOR THE DAY

You may have to fight a battle more than once to win it. - Margaret Thatcher

OFF TRACK

The driver-less car is almost there. Here's my fear: I'll buy one of those

driver-less cars, and I'll be home on a Saturday night, and the car will be

out driving without me!