| Good morning! In a bid to tame rising inflation in the country, the Reserve Bank of India (RBI) has decided to raise the repo rate by 40 basis points to 4.40%, governor Shaktikanta Das announced in a virtual briefing on Wednesday. HT brings you a round-up of the most important and interesting stories, so you don't miss your daily dose of news. |
| THE BIG STORY RBI raises policy rate at surprise MPC meet The Monetary Policy Committee (MPC) of Reserve Bank of India announced an unscheduled hike of 40 and 50 basis points – one basis point is one hundredth of a percentage point – in policy rate and the Cash Reserve Ratio (CRR) respectively in a move to contain raging inflation. The hike, the first in 45 months, comes a month before RBI's next scheduled meeting on June 6, surprised both markets and experts, and will increase most consumer loan rates, including on mortgages. Read more. |
| STORIES YOU MAY HAVE MISSED Loudspeaker stir: Multiple FIRs Against MNS workers SpiceJet 737 Max grounded after snag in engine Over 58k veterans to get pension after defence ministry steps in On-the-run S.H.O. arrested, 29 cops suspended in U.P. teen rape case |
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THE DAILY QUIZ QUESTION Debdatta Chakraborty has been named the Pink Lady Food Photographer of the Year. The winning photograph features a street-food vendor in Srinagar, engulfed in white smoke, drizzling his skewers with marinade, as sparks fly. What's cooking? |
| FROM THE EDIT PAGE Why is the West wooing New Delhi? As Prime Minister Narendra Modi completes his three-nation tour of Europe, there is suddenly a new energy and momentum in India's ties with the West. And, the remarkable aspect of this change is that it is happening at a time when few expected this to happen. India has continued to maintain its position on the Ukrainian crisis even as the West continues to ratchet up the pressure on Russia. New Delhi has been consistent in its advocacy of diplomacy and dialogue within the parameters set by international law and the United Nations (UN) charter. It has refrained from publicly condemning Russia though a clear disappointment can be discerned in India's growing concern about the humanitarian crisis unfolding in Ukraine as the war drags on. Read more. |
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| NUMBER THEORY What does CRS data tell us about India's Covid deaths? The official Covid-19 death toll in India as on May 3 is 522,676. Does this capture the actual mortality due to the pandemic in the country? Some experts believe that the actual death toll is likely to be significantly higher, primarily a result of Covid-19 deaths not being classified as such. People in charge of India's response to the pandemic believe that the reported number is accurate. The World Health Organization (WHO) is expected to release its Covid excess mortality data this week. Read more. |
| FROM THE FIELD Sutradhara's Tales: When Pune rivers were site of horrific ritual of Sati Medieval times often remind you that all was not well in the past, especially for the women and downtrodden masses. One of the most barbaric rituals that were prevalent and commonplace during the 18th and early part of 19th century was that of sacrificing the wife of a deceased on burning pyres in the form of Sati. Read more. |
| Infographic of the Day Monsoon set to keep date with Indian Coast : IMD  (Click to expand) |
| Photo of the Day Best spot to see many Delhis |
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| HT THIS DAY: May 5, 1980 Tito dead  (Click to expand) President Josip Broz Tito, Yugoslavia's Communist ruler since World War Il, died today at the age of 87, the national news agency Tanjug announced. Tanjug reported in its English service that President Tito, who had been seriously ill for nearly four months, died in the northern city of Ljubljana at 2.05 p.m. GMT (7.33 p.m. IST) today. Read more. |
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