Mumbai, Aug 6: Reserve Bank of India Governor Sanjay Malhotra said on Wednesday that the US tariff hike will not have any major impact on the Indian economy unless there is a retaliatory tariff.

Speaking at a press conference after the monetary policy announcement, the RBI Governor said, “There might not be a major impact of the ongoing uncertainty over the US tariffs on India’s economy. This is subject to retaliatory tariffs coming into the picture, which we do not foresee.”

“We are hopeful that we will have an amicable solution,” he said when asked to comment on rising trade tensions between India and the US. Malhotra also pointed out that the RBI had already scaled down its GDP growth forecast to 6.5 per cent from 6.7 per cent to factor in some of the global uncertainties.

He further stated that the RBI is confident that its foreign exchange reserves are enough to finance 11 months of imports. “We are confident of meeting our needs from the external sector,” he remarked. On the possible impact of domestic inflation if India reduces its purchases of Russian oil, Malhotra said it was important to keep in mind that India bought oil from many countries, not just Russia. “Let’s keep two things in mind: it’s not only Russian oil that we are taking. We are taking oil from many other countries. If the mix changes, what is its impact on prices? What are the global commodity prices of crude? It will depend on all that. And the other thing it will depend on is how much of its impact, downwards or upwards, is taken by the government in the form of excise duties and other tariffs. So, we don’t see any major impact, as of now, because of this on inflation because I think the government will take an appropriate decision on the fiscal side in case there is any price shock,” he added.

RBI Deputy Governor Poonam Gupta said, “The impact on inflation is likely to be very limited. Nearly half of our inflation basket consists of food, which does not get impacted directly by global developments.”

IANS

Shimla, Aug 6: In a major rescue effort, the Indo-Tibetan Border Police (ITBP), in coordination with the National Disaster Response Force (NDRF), rescued 413 stranded pilgrims from the Kinnaur Kailash trek route in Himachal Pradesh after two makeshift bridges on the trail were washed away due to torrential rains and cloudbursts.

Heavy rainfall in the region triggered cloudbursts and caused a bridge over the Tangling drain to be swept away on Wednesday morning, leaving scores of tourists and pilgrims stranded on the remote trekking route.

Responding swiftly, a rescue team from the ITBP’s 17th Battalion carried out the evacuation using a rope-based traverse crossing technique, successfully moving all 413 individuals to safer areas.

“The rescue operation is being carried out by 1 Gazetted Officer, 4 Subordinate Officers, and 29 Other Ranks of ITBP, in coordination with one team of 14 NDRF,” the ITBP said in a statement.

Following a distress call from the Kinnaur District Administration earlier in the day regarding more people being stranded, ITBP and NDRF teams were immediately remobilised to the site. Rescue operations are still ongoing, officials confirmed. To aid the mission, ITBP dispatched specialised mountaineering and Rope Rescue and Climbing (RRC) equipment.

This included high-altitude climbing gear such as mountaineering boots, ice axes, ropes, crampons, harnesses, and crevasse rescue tools required for difficult terrain and glacier navigation. Visuals shared by the ITBP on X captured dramatic scenes of the rescue, where pilgrims were seen ziplining across river streams using the rope traverse method and being safely escorted away from dangerous spots.

The footage also showed officials coordinating closely in challenging terrain to manage the operation. The ITBP affirmed that it is providing all possible assistance in close coordination with the local district administration and other supporting agencies.

Meanwhile, Himachal Pradesh continues to reel under the impact of this year’s monsoon fury. According to a report by the State Disaster Management Authority (SDMA), the state has recorded 194 deaths and suffered a cumulative loss of Rs 1.85 lakh crore from June 20 to August 5 this year due to heavy rains, landslides, and associated disasters.

IANS

Gumla (Jharkhand), Aug 6: Jharkhand Police gunned down top Maoist Martin Kerketta, the self-styled supremo of the banned outfit People’s Liberation Front of India (PLFI), during an encounter in Gumla district late Tuesday night, officials said on Wednesday.

Kerketta, who carried a bounty of Rs 15 lakh on his head, had been a dreaded figure across Gumla, Khunti, Simdega, Lohardaga, and Ranchi districts for nearly two decades. He was wanted in connection with over 70 cases related to violent and extremist activities.

According to Gumla SP Haris Bin Zama, police received intelligence inputs that an armed PLFI squad led by Kerketta had arrived in the Changabari Upartoli area under Kamdara police station to extort money from a local businessman.

Acting swiftly, a special police team, including the district’s anti-Naxal Quick Response Team (QRT) and forces from two police station areas, launched a cordon-and-search operation.

On spotting the advancing forces, Kerketta and his associates opened fire, triggering a retaliatory gunfight in which Kerketta was killed on the spot. Arms and ammunition were recovered from the encounter site.

Following the encounter, a massive search operation was launched in the region to trace other members of the squad. Kerketta, a native of Redma village in Kamdara, had been closely associated with former PLFI chief Dinesh Gop and rose through the ranks of the organisation.

He assumed command of the outfit after Gop’s arrest from Nepal two years ago and was also a central committee member of the PLFI. He was reportedly involved in several high-profile acts of violence and extortion. Kerketta had earlier escaped police encounters on at least two occasions.

Speaking to the media, SP Haris Bin Zama said, “PLFI supremo Martin Kerketta, who had a reward of Rs 15 lakh on his head, has been killed in an operation by Gumla police. This is a significant success in our anti-Naxal campaign.”

IANS

Mumbai, Aug 6: The Reserve Bank of India (RBI) announced on Wednesday that it has decided to standardise and simplify the procedure for settlement of claims in respect of deposit accounts of deceased customers of banks so that bereaved families do not face any hardship in getting the money or valuables due to them.

Currently, the procedure for settling claims in respect of deceased customers varies across banks. The RBI has decided to streamline and standardise these across all banks to facilitate the settlement of these claims.

RBI Governor Sanjay Malhotra said, “We will be standardising the procedure for settlement of claims in respect of bank accounts, and articles kept in safe custody or safe deposit lockers of deceased bank customers. This is expected to make the settlement more convenient and simpler.”

A draft circular in this regard shall be issued shortly for public consultation, the RBI said. Under the provisions of the Banking Regulation Act, 1949, a nomination facility is available in respect of deposit accounts, articles kept in safe custody or safe deposit lockers.

This is intended to facilitate expeditious settlement of claims or return of articles or release of contents of safe deposit locker upon death of a customer and to minimise hardship caused to family members.

The extant instructions require banks to adopt a simplified procedure to facilitate expeditious and hassle-free settlement of claims made by survivors, nominees or legal heirs, but the procedures vary across banks.

“With a view to enhancing customer service standards, it has been decided to streamline the procedures and standardise the documentation to be submitted to the banks. A draft circular in this regard shall be issued shortly for public consultation,” the RBI statement said.

The RBI has also decided to introduce auto-bidding facilities in Retail Direct for Investment and Re-investment in T-bills. “To enable investors to systematically plan their investments, an auto-bidding facility for Treasury bills (T-bills), covering both investment and re-investment options, has been enabled in Retail Direct. The new functionality helps investors to mandate automatic placement of bids in primary auctions of T-bills,” according to an RBI statement.

The Retail Direct portal was launched in November 2021 to facilitate retail investors to open their Gilt accounts with the Reserve Bank under the Retail Direct Scheme. The scheme allows retail investors to buy Government Securities (G-Secs) in primary auctions as well as buy and sell G-Secs in the secondary market.

Since the launch of the Scheme, various new features, in terms of product as well as payment options, have been introduced, including the launch of a mobile app in May 2024. IANS

New Delhi, Aug 6: The Enforcement Directorate (ED) on Wednesday conducted raids at 11 locations in the national capital and three states in connection with a global cyber fraud case involving Rs 260 crore.

The ED conducted the raids under the Prevention of Money Laundering Act based on FIRs registered by the Delhi Police and the Central Bureau of Investigation. The raids were taking place in Noida (Uttar Pradesh), Gurugram (Haryana), Dehradun (Uttarakhand), and Delhi The fraudsters cheated foreign and Indian nationals by posing as police or investigating officers, and extorted money after threatening them with the consequences of arrest.

The accused also impersonated Microsoft or Amazon tech support service agents and duped the victims. The monetary assets of the victims were converted into cryptocurrencies, which were further transferred to the accused persons.

The accused accrued Rs 260 crore in the form of Bitcoins in multiple crypto-wallets, which were further liquidated into cash through conversion into USDTs through multiple hawala operators/individuals in the UAE.

Earlier, on June 26, the CBI arrested a key member of a transnational cyber extortion syndicate during coordinated raids in Mumbai and Ahmedabad, a statement said. The accused, identified as Prince Jashvantlal Anand, is the mastermind of an international racket targeting foreign nationals, especially in the US and Canada.

The syndicate is accused of impersonating law enforcement and government officials, fabricating legal threats, and extorting money from unsuspecting victims. On June 25, the ED launched a coordinated crackdown across Gujarat and Maharashtra in connection with a massive cyber fraud case involving more than Rs 100 crore.

Raids were carried out in Ahmedabad, Surat, and Mumbai under the PMLA. The key accused named in the case include Maqbool Doctor, Kashif Doctor, Basam Doctor, Mahesh Mafatlal Desai, and Maz Abdul Rahim Nada, among others. Authorities allege the group duped unsuspecting victims by employing tactics such as fake enforcement notices, USDT (Tether) crypto trading scams, and false digital arrest threats.

IANS

Chaibasa (Jharkhand), Aug 6: Congress leader and Leader of Opposition in Lok Sabha, Rahul Gandhi, appeared before the MP-MLA Special Court in Chaibasa, Jharkhand, on Wednesday in connection with a criminal defamation case filed over his remarks against the then BJP national president, Amit Shah.

The court granted him bail on the condition that he would cooperate with the trial proceedings. Rahul Gandhi appeared in person before Judicial Magistrate Supriya Rani Tigga. The court granted him relief after hearing arguments from his legal team, which included senior advocates Pradeep Chandra and Dipankar Roy.

The case pertains to a speech delivered by Rahul Gandhi during a Congress session in 2018, in which he allegedly referred to Amit Shah as a “murderer”. In his address, Gandhi had reportedly said, “No murderer can become the national president in Congress. Congressmen cannot accept a murderer as the national president; this is possible only in the BJP.”

Offended by this statement, local BJP leader Pratap Katiyar, a resident of Chaibasa, filed a criminal defamation complaint against Rahul Gandhi on July 9, 2018. The matter had been pending for several years, during which multiple warrants were issued.

Initially, the court issued a bailable warrant in April 2022. When Gandhi failed to appear, a non-bailable warrant was issued in February 2024. Gandhi had sought exemption from personal appearance under Section 205 of the CrPC, but the Chaibasa court rejected the plea. He then moved Jharkhand High Court, which granted him temporary relief.

However, in March 2024, the High Court disposed of his petition, paving the way for further action. Following this, the Chaibasa court issued another non-bailable warrant on May 22, 2025. Gandhi finally complied with the court’s order and appeared in person today, after which he was granted conditional bail. The case will now move into the trial phase.

IANS

New Delhi, Aug 6: Almost a week has gone by after the publication of electoral draft rolls in Bihar, but none of the political parties have filed any objection or complaint till August 6 morning, the Election Commission of India (ECI) said on Wednesday.

The Special Intensive Revision (SIR) exercise in Bihar was marked by huge uproar and protests by the Opposition parties, with the latter claiming a series of irregularities and malfunctioning in the way the whole procedure was rushed, which was bound to deprive lakhs of voters of their right to vote.

The ECI, in a statement, said that ‘zero’ claims have been submitted by any political party, so far. On the other hand, more than 19,000 new electors, who have turned 18 after the SIR exercise, have filled out their forms for inclusion in the voter list. In the data shared by the poll panel, 3,659 electors have submitted their objections directly to the ECI in the draft voter list.

The poll panel published its draft electoral rolls on August 1 and has kept a window of one month for people and parties to bring their complaints and grievances regarding inclusion or exclusion from the draft electoral list.

The Rashtriya Janata Dal (RJD) has 47,506 booth-level agents (BLAs), the Congress party has 17,549, and the Left has over 2,000, all adding up to over 67,000. The ECI has been routinely reaching out to political parties to join the revision exercise and bring to its notice instances of disenfranchisement, if any.

“Submit your claims and objections to rectify any errors in the draft Electoral Roll of Bihar published on August 1. So far, not even a single claim or objection has been submitted by any political party,” the EC said in a statement on Wednesday.

The ECI concluded the enumeration phase of the SIR from June 24 to July 25. More than 7.24 crore electors — out of a total of 7.89 crore — submitted their enumeration forms during the exercise. At the end, about 65 lakh voters were found to be missing from the draft electoral rolls published on August 1.

This included 22 lakh deceased electors (2.83 per cent), 36 lakh (4.59 per cent) who had permanently shifted or not found and seven lakh (0.89 per cent) who had enrolled at more than one place, ECI data showed.

IANS