The Monetary Policy Committee headed by RBI governor Urjit Patel that started its two-day deliberations on Tuesday will announce its fourth bi-monthly monetary policy statement for 2017-18. While bankers are of the view that the RBI will maintain status quo due to rise in inflation, the government and industry are rooting for a rate cut. In its last policy review in August, the RBI reduced the repo rate by 0.25 per cent to 6 per cent, citing reduction in inflation risks. The rate cut was the first in 10 months and brought policy rates to a near seven-year low.
The Union Cabinet is likely to approve setting up of the anti-profiteering authority under the Goods and Services Tax (GST) regime. Prime Minister Narendra Modi-headed Cabinet may also approve creation of the post of chairman and appointment of four technical members of the authority. To keep a tab on businesses that have not passed on to consumers the benefit of lower tax rates under the GST regime, the GST Council had approved setting up of a five-member National Anti-Profiteering Authority.
Today is a day of launches as Google will unveil two Pixel smart phones, a smart speaker and a 'PixelBook' laptop in the US. The company is also likely to launch a new Daydream VR headset. The two Pixels -- Pixel 2 (designed by HTC) and a larger Pixel 2 XL (made by LG) -- will directly succeed Google's existing line-up.
Congress Vice President Rahul Gandhi is on a three-day visit to his constituency Amethi, starting today. The Congress vice president’s trip to his parliamentary constituency made headlines after district authorities in Amethi suggested a postponement citing security concerns. However, he has been given the go-ahead.
Advocates in Karnataka are likely to stay away from court proceedings as a mark of “protest” against “denial” of elevation to Justice Jayant M. Patel. The Karnataka State Bar Council has asked all advocates to abstain from court proceedings across the State. A resolution passed by the council has sought transparency in Supreme Court’s collegium system in the process of appointment and elevation of judges.