RBI Proposes To Link Credit Cards With UPI Platforms

The Reserve Bank of India (RBI) on Wednesday proposed to allow the linking of credit cards to the Unified Payments Interface (UPI) platform.

After the Monetary Policy Committee (MPC) meeting RBI Governor Shaktikanta Das announced that the implementation will start with the indigenous RuPay credit cards.

“At present, UPI facilitates transactions by linking savings/current accounts through users’ debit cards. It is now proposed to allow linking of credit cards on the UPI platform,” RBI Governor said in his statement after the MPC meeting.

“To begin with, the Rupay credit cards will be linked to the UPI platform. This will provide additional convenience to users and enhance the scope of digital payments,” Das said.

RBI Governor noted that the “UPI has become the most inclusive mode of payment in India with over 26 crore unique users and 5 crore merchants on the platform. In May 2022 alone, about 594 crore transactions amounting to Rs 10.4 lakh crore were processed through UPI.”

The RBI also decided to enhance e-Mandates limits on cards for recurring payments.

The framework for processing of e-mandate based recurring payments was introduced by the Reserve Bank of India keeping in mind the benefits of convenience, safety and security to the users, RBI Governor said.

Under this framework, over 6.25 crore mandates have been registered in favour of a large number of domestic and over 3,400 international merchants.

To further facilitate recurring payments like subscriptions, insurance premia, education fee, etc. of larger value under the framework, the limit is being enhanced from Rs 5,000 to Rs 15,000 per transaction. This will further leverage the benefits available under the framework and augment customer convenience, Das said. (ANI)

Nirbhaya Horror: Minor Girl Raped In A Bus In Bihar

In a grim incident similar to the 2012 Nirbhaya gang-rape case, a minor girl was allegedly raped inside a bus by three persons in the Bettiah city of Bihar’s West Champaran district on Wednesday, police said.

According to the preliminary report, the victim was found on the bus in a semi-conscious state.
Police also recorded the victim’s statement in which she alleged that the driver and his accomplice offered her a cold drink which contained a pill.

After consuming the cold drink, it made her unconscious and the accused gang-raped the minor girl, according to police citing the victim’s statement.

“Three people were accused of allegedly raping a minor girl inside a bus in Bettiah, West Champaran district. The girl was found on the bus in a semi-conscious state,” Mukul Pandey, Bettiah Sub-Divisional Police Officer (SDPO) told ANI.

Out of the three accused, two persons have been arrested by the police in connection with the rape case.

“The bus has been seized, the driver and helper of the bus have been arrested,” Pandey added.

Further, police sent the girl for medical examination and the two arrested accused are being interrogated.

In the 2012 gangrape case, a 23-year-old physiotherapy student was gang-raped and brutally assaulted in New Delhi. She later succumbed to her injuries, igniting widespread outrage and protests across the country.

Six people were involved in the case. The main accused, Ram Singh, allegedly committed suicide in Tihar Jail during the trial. Another accused was a minor at the time of the commission of the crime and was sent to a reform facility and released after three years. While four convicts in the case– Vinay, Akshay, Pawan, and Mukesh were convicted and sentenced to death for the crime. (ANI)

RBI Hikes Policy Repo Rate By 50 Basis Points, Raises Inflation Forecast

The Reserve Bank of India (RBI) on Wednesday hiked the policy repo rate by 50 basis points to 4.9 per cent and raised the inflation projection for the current financial year to 6.7 per cent.

RBI Governor Shaktikanta Das announced that the Monetary Policy Committee (MPC) has “voted unanimously to increase the policy repo rate by 50 basis points to 4.90 per cent, with immediate effect”.

Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.65 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 5.15 per cent.

The MPC also decided unanimously to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth.

This is the second hike in the policy repo rate since the being of the current financial year.

Last month, in its off-cycle monetary policy review the central bank hiked policy repo rate by 40 basis points or 0.40 per cent to 4.4 per cent. This was the first increase in policy repo rate in nearly two years. The repo rate is the interest rate at which the RBI lends short-term funds to banks.

The RBI revised upward the inflation projection for the current financial year to 6.7 per cent from its earlier projection of 5.7 per cent.

According to the RBI, inflation is projected to remain at 7.5 per cent in the first quarter of the current financial year. In the second quarter, it is projected at 7.4 per cent. For the third quarter at 6.2 per cent and for the fourth quarter of 2022-23 headline inflation is projected at 5.8 per cent.

“It may be noted that around 75 per cent of the increase in inflation projections can be attributed to the food group. Further, the baseline inflation projection of 6.7 per cent for 2022-23 does not take into account the impact of monetary policy actions taken today,” RBI Governor said in the monetary policy statement.

Between February and April, headline inflation has increased by about 170 basis points. With no resolution of the war in sight and the upside risks to inflation, prudent monetary policy measures would ensure that the second-round effects of supply side shocks on the economy are contained and long-term inflation expectations remain firmly anchored and inflation gradually aligns close to the target, he said.

“The monetary policy actions including withdrawal of accommodation will be calibrated keeping in mind the requirements of the ongoing economic recovery,” Das added.

Explaining the rationale for the repo rate hike, the RBI Governor said, “The protracted war in Europe and the accompanying sanctions have kept global commodity prices elevated across the board. This is exerting sustained upward pressure on consumer price inflation, well beyond the targets in many economies.”

The ongoing war is also turning out to be a dampener for global trade and growth. The faster pace of monetary policy normalisation undertaken by systemic advanced economies (AEs) is leading to heightened volatility in global financial markets.

The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth. It may be noted in this context that the repo rate still remains below its pre-pandemic level. (ANI)

Sonakshi Sinha Gives A Funny Response To Wedding Rumours

Bollywood actress Sonakshi Sinha, who turned 35 on June 2 this year, recently made headlines for making her alleged relationship with actor Zaheer Iqbal official on Instagram.

Zaheer, who will next be seen in the film ‘Double XL’ alongside Sonakshi, shared a belated birthday post for her and wrote, “I love you” in the caption. He posted a couple of videos and a photo with the Dabangg actress and wrote a sweet note, “Happy Birthday Sonzzz Thank You for not killing me I Love You Here’s to a lot more food, flights, love and laughter P.s – This video sums up the entire time we’ve known each other”.

After this post went viral, fans started speculating whether the duo will tie the knot soon. Reports claiming that the two will get married this year surfaced all across the internet.

Reacting to the wedding rumors, the ‘Dabbang’ actress took to her Instagram and shared a funny video. In the video, Sonakshi has written “Me to the media: Kyu haath dho kar meri shaadi karwana chahte ho?!?” The actress then mouths the famous SRK dialogue, “Achcha lagta hai mujhe, bahot maza aata hai.”

Captioning the video, Sonakshi wrote, “Proposal, roka, mehendi, sangeet sab fix kar hi liya hai toh pls mujhe bata do.”

Zaheer then reacted to the video by posting a bunch of laughing emojis.

Makers of the film ‘Double XL’ starring both the actors are yet to announce a release date. The film also stars Huma Qureshi. (ANI)

Shilpa Mangalorean Roots

Bollywood Diva Shilpa Shetty Turns 47. Her Best Outfits

Actor Shilpa Shetty Kundra turned 47 today. The actor best known for her iconic ‘Dhadkan’ movie has established a name for herself in the film industry, be it for her on-point style game or her devout dedication to yoga.

As the actor turns a day younger, let’s have a glimpse of 5 her gorgeous traditional looks!

  1. Shilpa looks drop-dead gorgeous in this Boho-Indie fusion lehenga, with detailed embroidery on the blouse and the skirt. The vibrant play of clours and subtle shimmers on the attire is a sheer treat to the eyes. And Shilpa owned the attire like a queen!
  2. The purple-hued ruffle saree with floral carvings on the border, made Shilpa look no less than a diva! The oxidised bangles on her wrist and the choker neckpiece accentuated her looks further.
  3. The ‘Dhadkan’ girl looked exuded sunny vibes, decked up in a bright yellow blouse and a skirt having several polka dots. Shilpa’s choice of wearing a baggy blouse was indeed unique, while her smile, made the picture look perfect!
  4. Shilpa’s love for pink is evident in the fourth picture where she can be seen donning another embroidered baby pink lehenga jacket. The floral prints in pink made Shilpa look like a sweetheart!
  5. The fifth picture had Shilpa wearing an orange-hued velvet lehenga, with a jacket of the same colour over her shoulders. However, the prominent dark green patterns of flowers and leaves on her ethnic outfit brought out Shilpa’s charm! (ANI)

BJP Youth Wing Leader Arrested In UP For Post On Prophet

Kanpur Police on Tuesday arrested BJP youth wing leader Harshit Srivastava for derogatory comments on Prophet Muhammad, in view of recent clashes in the district.

A case has been registered against the BJP leader over his controversial tweet, which now stands deleted.

“Harshit Srivastava was arrested while taking immediate action after registering a case for his controversial tweet. Those who disturb the peace of the city, irrespective of religion, will not be spared,” said the police.

This comes three days after a violent clash broke out between two groups belonging to different communities allegedly over a market shutdown in Kanpur in Uttar Pradesh on Friday.

Two persons and one policeman were injured in the aftermath of the clashes. The violence started after some people tried to shut down shops which were opposed by the other group, said the police.

Meanwhile, the Bharatiya Janata Party on Sunday suspended its spokesperson Nupur Sharma from the party’s primary membership after her alleged inflammatory remarks against minorities.

While suspending Sharma, the BJP said that it “respects all religions” and is “strongly against any ideology which insults or demeans any sect or religion”.

The BJP leader’s remark drew sharp reactions from Gulf countries. India has said that it had taken strong action against those who made controversial remarks against minorities. (ANI)

4 Terrorists Killed In 3 Encounters In Last 24 Hours In Kashmir

In three different encounters over the last 24 hours, four terrorists have been eliminated by security forces in Jammu and Kashmir, sources said.

Of the terrorists killed during the period, three belonged to Lashkar-e-Taiba (LET) and one was affiliated with Hizbul Mujahideen, said the sources, adding two of them are Pakistanis and two are locals.

Hanzula and Tufail belonged to Lahore, Pakistan; Ishtiaq Lone hailed from Tral, Awantipora and Nadeem belonged to Kulgam.

Indian Army, Central Police Force, Jammu and Kashmir Police and security agencies carried out a simultaneous operation and eliminated these four terrorists.

In the operation AK-56, grenades and a huge amount of ammunition were recovered.

Even before this, the terrorists who killed people in Kashmir were eliminated by the security forces within 24 hours.

Considering the situation in Jammu and Kashmir, Union Home Minister Amit Shah has held two meetings in the last 15 days. In a meeting on June 3, the Home Minister had instructed all the agencies and security forces to find and kill the terrorists who disturb the peace of Jammu and Kashmir.

“In a few days to disturb the peace of Kashmir, the terrorists had done the work of spoiling the atmosphere of the valley by killing innocent people there. After which the Home Minister convened a high-level meeting in Delhi and instructed to make a fresh strategy and surround the terrorists,” added sources. (ANI)

German Minister Tests Covid Positive During Pakistan Visit

German Foreign Minister Annalena Baerbock who reached Pakistan on Tuesday shortened her trip after testing positive for COVID-19.

Germany’s ministry of foreign affairs confirmed her reports saying that “Annalena Baerbock had a positive screening test after lunch today,” the News International reported.

After testing positive for the virus, the minister cancelled all further dates of the trip, which also included stops in Greece and Turkey, the ministry said.

As per the official Twitter handle of the ministry, Baerbock regularly tests herself for the virus. It further said that she was tested negative for the virus in the morning, the News International reported.

German FM Annalena Baerbock reached Pakistan today, where she was welcomed by the Pakistan Foreign Minister Bilawal Bhutto-Zardari, Minister of State for Foreign Affairs Hina Rabbani Khar and other senior officials. The minister along with her Pakistani counterpart Bilawal Bhutto Zardari also planted a sapling on the premises of the Ministry of Foreign Affairs.

Baerbock’s visit to Pakistan was scheduled for June 7 and 8 to hold a discussion on bilateral and global issues with her counterpart from Pakistan.

This comes as a response to the invitation of Pakistani Foreign Minister Bilawal Bhutto Zardari.

The two sides attach special importance to strengthening bilateral cooperation in diverse fields, including trade and investment, energy, defence, and people-to-people contacts, said the ministry.

The visit of the German foreign minister is part of regular high-level exchanges between the two countries and is expected to further boost the multi-faceted Pakistan-Germany relationship, according to the statement.

This year both countries are celebrating the 70th anniversary of the establishment of diplomatic relations. The German Foreign Minister’s visit is part of regular high-level exchanges between the two countries. (ANI)

India Has Power Surplus In Comparison To 2014: Union Minister

Union Power Minister, RK Singh on Tuesday, said that the nation is now power surplus in comparison to what it was in 2014, adding that the country can transfer 1.12 lakh Megawatt (MW) of power from one corner of the country to another.

Addressing a press conference, the union minister highlighted that the ministry overcame a deficit of 13 to 15 per cent.

“We constructed 2,900 new substations, upgraded 3,800 substations and added 7.5 lakh new transformers. We achieved the target of having 40 per cent of our established power generation capacity from non-fossil fuels in November 2021,” said Singh.

In order to further accelerate the ambitious renewable energy programmes, ensuring access to affordable, reliable, sustainable and green energy for all, Green Open Access Rules, 2022 were notified on June 6.

As per the Ministry of Power and Renewable Energy, “These rules are notified for promoting generation, purchase and consumption of green energy including the energy from Waste-to-Energy plants”

“The notified Rules enable simplified procedure for the open access to green power. It will enable faster approval of Green OA, Uniform Banking, Voluntary purchase of RE power by commercial and industrial consumers, the applicability of OA charges etc.” Ministry said

The Ministry further said Commercial and Industrial consumers are allowed to purchase green power on a voluntary basis. Captive Consumers can take power under Green Open Access with no minimum limit. Discom Consumers can demand-supply of Green power to them. (ANI)

Weekly Update: Monarchy Walking Into Sunset? And Hindutva’s Self-Goal

The British Monarch, Her Majesty the Queen, a wonderful person because she never says anything beyond platitudes, almost always smiling, celebrated her 70th year on the British throne cutting ribbons and handing out ribbons, on the throne of the Commonwealth wheeling around the world cutting ribbons and wheezing around a few other countries , such as Canada and Australia, cutting ribbons. The 70-year Jubilee was a four-day affair with every world media showing some, all, or a bit of the four days. Music and hand waving, army march pass and street parties etc were all packed into the extended programme of celebrations. The Royal family glowed in the adulation. Even the baby royals were there to lap it up. Perhaps the leaders of many a country, must have been wondering, ‘Why can’t I have some of that’. Perhaps some will now organise a yearly jamboree of them being in power. Modiji next?

Everyone enjoyed it, except the thousands British who are anti Monarchists and want to turn Britain into a Republic. And those who are indifferent, but sulked in their front rooms as family members wanted to watch Her Majesty, while they wanted to watch football, or anything else, even Peppa Pig. And the failed exodus of thousands who had tried to escape but were returned from airports as flights were cancelled. They had to suffer watching four days of celebrations they were trying to get away from.

Or the many in the world, who remembered on these day the oppressions, atrocities and destructions visited on their communities by British colonialism in the name of the Royal family. For them, the scenes of HMQ and family smiling, while their cultures and nations are just about recovering from the poverty and near extinction, must have been a bit painful. Or as many saw HMQ and family sitting on gilded carriages, diamond studded tiaras and opulence built on treasures taken from their lands. Where are the crown jewels from, or the financial wealth of UK from?

Before colonialism, India reportedly had 25% of world’s wealth alone. In 1947, it was a country begging for food and development funds. That story is the same in many other parts of the world.

Still, as the Brits like reminding, they brought the railways to the countries. In this Jubilee year, countries should be grateful to the Empire and Royals for little mercies, so what if at the end they got poverty in return. But then how Russia got the Trans Siberian Rail, the longest railway, without British imperialism must be the eight wonder of the world.

However, Empires eventually fragment and end. Emperor Romulus Augustus is remembered for losing the mighty Roman Empire. Emperor Bahadur Shah lost the great Mughal dynasty. Both are known as losers. Queen Elizabeth 2nd, took power in 1952. By 2022, she has managed to lose almost the entire British Empire, the biggest Empire in the history of the world! Only the British can make the loss of an Empire as a triumphant victory! If Queen Victoria had extended the Empire to one where the sun never sets, Queen Elizabeth, has reduced the Empire to one where sun rises and sets at predictable times.

The Roman Empire lasted some 1400 years. The Mughals lasted a little over 300 years. From start to finish, the British Empire lasted a mere 200 years, largest and the shortest. There are many reasons for it. Many of those still exist within the British Royal family as Meghan will tell you.

The disintegration of the Empire hasn’t ended. The Commonwealth is a bit fed up with being told to be democratic but to accept the Queen as the non-elected permanent head. Many want to leave and others want rotating Presidents of Commonwealth. The Queen, they say will be the last one.

Within Britain itself, only 40% of the younger generation want to keep the Royalty. There are concerns that Royalty is seen as an anachronistic symbol of a brutal and oppressive past in British history. As the imperially drenched older generation ingrained with pomposity fades into the big sky, it seems increasingly possible the Monarchy too will fade as the last relic of an age, glorious to some, inglorious to others. It doesn’t matter how many song and dance shows are staged to make Royalty appear benign, its destructive shadow from the past lingers scattered around the world and its role in propping the class system in Britain remains. Sometimes soon that past will fade as did other empires. Unless David Icke is right, then we are in another realm.

Hindutva’s New Tava Missile

Hindutva is sometimes an aimless, groundless, mindless rocket that tends to whirr around from time to time spinning like a top falling off the edge and hitting an unsuspecting beetle beneath. It seems it has now entered that space between terracotta and chaotic neutrons where verbal travel is directionless.

No one really knows what Hindutva is, so its most fanatic adherents usually make it up as a sum of their prejudices, hates and mythical glory.

A couple have taken a pot shot at Prophet Mohammed now. Boom. It was easy beating up ordinary Muslims going about their daily business and even killing a few to end Kaliyug and revive a creationist past from 6,000 years ago when allegedly only ‘Hindus’ lived in Bharat in Dwapar Yug. The Muslim nations turned a blind eye calling it domestic issues and cultural idiosyncrasy, except Pakistan which has a few hundred of its own similar domestic issues as wannabe Mullahs beat up Shias, Christians or occasionally other communities.

The problem with Hindutva is that there is no word Hindu endogenous to the civilisation of South Asia. It is an exonym made popular by Islamic invaders as they settled in the region. Therefore Hinduism has no coherence, no philosophy, no central belief. Hindu was just a name for those who didn’t convert to Islam and Hinduism for everything that was not Abrahamic in South Asia. Then it was given a Royal stamp by British imperialist. Hindus as a category became part of census. All the very profound but different indigenous worldviews, philosophies and belief systems, such as Vedanta, Shaivism, Advaitism, Vaishnava, Carvakaism, Sankhya, Nyaya etc were packaged into one by the lazy British in a version of the usual, ‘they all look alike’.

It is difficult to develop a meaningful political ideology from an exonym or a category of convenience for the census. ‘Hindutva’ nevertheless was born to give Hinduism and Hindus an ideological identity. It is mostly an ‘anti everyone else’ ideology drawing boundaries. So hating those who don’t call themselves Hindus is part of it. They include Muslims, Christians, secularists and sometimes even Sikhs.

This time the ‘knock them down’ policy went a bit ballistic as the perpetrators hit the hypersonic missile button. Unfortunately the missile has boomerang engine.

Muslims tolerate many things, including blowing each other’s mosques, killing each other in the name of cleansing the faith, chopping heads of apostates. But attacking Prophet Mohammed suddenly unites them all. Outsiders sometimes fail to see this.

Salman Rushdie, still neurotically living and writers of Charlie Hebdo still drawing on State funds for protection should have cautioned the Hindutva forward charge brigade to know the boundaries of their favourite past time. Muslim nations stopped bombing each other (Yemen etc) and decided to stand up united for a few seconds. One by one they are lining to get an official apology from the Indian State.

At stake is $350 billion trade or part of it, a loss of goodwill from Middle East nations, and an opportunist take by Pakistan to fill in the job market that might emerge if Indian workers are sent packing home. Indian products are already being boycotted in some Middle East countries. India may have to quickly behead Nupur Sharma or at least give a humbling apology. It’s quite a feat having played some remarkable diplomatic dexterity around Ukraine only to land in a problem of its own making and attract the ire of 52 Muslim countries. It’s all in Modiji’s hands now. On the other hand the few seconds of ire may pass and pensioning off the two Generals of Hindutva might just do the trick.