Rajan looking to cut inflation, boost growth

Reserve Bank of India governor Raghuram Rajan on Tuesday cut the benchmark repo rate at which banks borrow from the central bank by 50 basis points to 6.75%. Hours after Rajan’s bigger-than-expected reduction, the country's biggest lender, the State Bank of India, announced a 40 basis-point cut in its base rate with effect from October 5. The SBI’s decision is likely to bring cheer to millions of home loan consumers. The announcement signals Rajan’s focus on fighting inflation and addressing growth worries.

FTII stir to continue, more talks on Thursday

Fresh talks between Film and Television Institute of India’s striking students and the government on Tuesday failed to break the deadlock over the 110-day-long agitation for the removal of actor and Bharatiya Janata Party member Gajendra Chauhan as its chairperson. Further talks are slated for Thursday.

I-T department to raid Asaram's ashrams

The Income Tax department is set to look into ashrams run by the tainted godman Asaram Bapuand his son Narayan Sai in the next few days. The department will focus on big ashrams such as one located in Surat’s Jehangirpura and 22 other such institutions across India. Donations received by the ashram authorities will also be investigated. I-T officials said that the two men have a network of over 400 ashrams in India and abroad.

Somnath Bharti sent to two-day police custody

A Delhi court remanded Aam Aadmi Party MLA Somnath Bharti to two days of police custody. The former Delhi law minister was formally arrested around 4 am on Tuesday after he surrendered to police. Bharti evaded arrest for almost a week in a case of domestic violence and attempt to murder filed by his estranged wife. Senior police officials said Bharti refused to cooperate during interrogation.

BJP chief begins Bihar tour for final poll push

With barely a fortnight left for the first phase of polls in Bihar, Bharatiya Janata Party chief Amit Shah is in the state for a weeklong tour. Shah will hold a series of meetings to galvanise party cadres for a final push in the tough battle with the Janata Dal (United)-Rashtriya Janata Dal-Congress alliance. He will join the party’s election in-charge Ananth Kumar, Bihar BJP spokesperson Sanjay Mayukh said.