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Undermining RBI will be disastrous, says Employees Union

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Reserve Bank of India RBI

Kolkata, Oct 29: Days after RBI Deputy Governor Viral Acharya spoke on the need for the central bank’s autonomy, the RBI Employees Association on Monday came out in his support by stating that “undermining the country’s central bank is a recipe for disaster”.

“We firmly hold that undermining the country’s central bank is a recipe for disaster and the government must desist,” The All India Reserve Bank Employees Association (AIRBEA) said in a statement.

“Let the two (Centre and RBI) talk and sort out issues instead of the government trying to ride roughshod over the RBI, what they are trying at the expense of the nation,” it said.

Acharya’s observations on October 26 about apparent government interferences had created a flutter. Acharya had warned that the market could make the government pay for eroding the bank’s independence.

He said markets keenly watch the government’s activities, which exert pressure on the central bank’s independent functioning.

“This (Acharya’s warning) is not a sudden outburst, but was waiting to happen due to a long simmering discontent,” AIRBEA General Secretary Samir Ghosh said in the statement.

Acharya had compared the approaches of the two – RBI and government – in a cricketing analogy with T-20, which is a short term game, and Test Match, which is long term.

The government, with a short tenure from election to election, is prone to putting pressure on the RBI to fall in line with its expediency, which the RBI from a long-term perspective might not and would not agree, Acharya had said.

“There is an intrinsic schism and this is not regime-specific,” Ghosh said, reminding how former RBI Governor D. Subbarao in his parting speech had said the then Finance Minister P. Chidambaram had been so angry that he preferred to “walk alone without RBI”.

The association said the divide between the two has widened due to the continuous ‘nibbling’ by the government and the Ministry of Finance.

IANS

India

Wrong to prevent farmers from holding peaceful demonstrations: Kejriwal

Thousands of farmers have been marching to Delhi from Punjab and Haryana protesting against the laws that liberalise the agriculture sector

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Farmers Protest

Delhi chief minister Arvind Kejriwal on Thursday showed his support to the farmers who are protesting against the three farm laws passed in the Parliament in September, and said that they should be allowed to stage a peaceful protest.

“The three farm bills of the central government are anti-farmer. Instead of rolling back these bills, farmers are being stopped from staging peaceful protests. Water cannons are being used against them. This is injustice to the farmers. Peaceful protest is their constitutional right,” said Kejriwal in a tweet on Thursday.

The Aam Aadmi Party (AAP) had voted against the Bills in both Lok Sabha (where it has one MP) and Rajya Sabha (where it has three MPs).

Thousands of farmers have been marching to Delhi from Punjab and Haryana protesting against the laws that liberalise the agriculture sector. While some groups were stopped in Haryana on Wednesday and water cannons used against them, several others continue to approach Delhi to stage a protest. The Delhi Police has issued a notice prohibiting any gathering in the Capital, citing Covid-19 regulations and the Delhi Metro has temporarily closed operation on certain routes.

The three laws that have led to widespread protests are the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act and Essential Commodities (Amendment) Act.

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India

GATE Mock Test 2021 released, check full details here

IIT Bombay has released the mock test of GATE 2021 for the candidates at gate.iitb.ac.in on November 25.

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IIT Bombay has released the mock test of GATE 2021 for the candidates at gate.iitb.ac.in on November 25. The candidates must note that the mock test will help the students to understand the Computer Based Test or CBT Mode.

The type of questions, pattern, and format may vary in the real examination.

This is the first time GATE would have an exam in Humanities and Social Sciences. Admit Cards for GATE 2021 would be made available on the official website from January 8, 2021. All candidates who have registered for the examination are advised to keep a check on the official website for the latest updates and information regarding the examination.

This is the first time GATE would have an exam in Humanities and Social Sciences. Admit Cards for GATE 2021 would be made available on the official website from January 8, 2021. All candidates who have registered for the examination are advised to keep a check on the official website for the latest updates and information regarding the examination.

IIT Bombay has introduced two new subjects namely Environment Science and Engineering as well as Humanities and Social Sciences. This year for the first time candidates have the option of appearing for more than one subject based on the permitted combinations.

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Health

Coronavirus: India inches closer to 93 Lakh Covid-19 cases

Apart from Maharashtra, Andhra Pradesh, and Karnataka have reported the highest number of cases.

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Coronavirus India

New Delhi, Nov 26 : With 44,489 new cases of Covid infections, India’s total cases reached 92,66,705 on Thursday. It is the 19th straight day when India reported less than 50,000 cases in a day.

The last time daily new cases crossed the 50,000-threshold was on November 7.

According to the data released by the Ministry of Health and Family Welfare, 524 new deaths occurred due to the deadly virus in the last 24 hours taking the toll to 1,35,223.

While the active cases stood at 4,52,344, a total of 86,79,138 have recovered from the virus and have been discharged of which 36,367 were discharged in the last 24 hrs.

While the recovery rate stands at 93.66 per cent, the fatality rate is at 1.46 per cent, the Ministry data revealed.

Maharashtra remains the worst-hit state with 84,464 active cases and 46,748 deaths so far. The recoveries in the state stand at 17,95,959.

Apart from Maharashtra, Andhra Pradesh, and Karnataka have reported the highest number of cases.

The National capital is also witnessing a surge.

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