Interest Rate Cut A Matter of Interest

RESERVE Bank of India (RBI) governor Raghuram Rajan has surprised all by a “bold” 50 basis points (or half a percentage point) reduction in policy (interest) rates. The interest rate payable on borrowing by banks from the RBI (or the repo rate) has been brought down to 6.75 percent and the interest rate banks get when they hold deposits with the RBI (or the reverse repo rate) has been reduced to 5.75 percent. The idea is not merely to reduce interest rates charged to borrowers, but to push banks into lending more rather than holding large cash reserves.

Thinking Together

Q.Why does CPI(M) not mandate minimum education qualifications for people contesting elections?

Shyamlal Panda, Raigarh, Chhattisgarh

India-US helicopter deal

JUST in time for Prime Minister Modi’s visit to the US, the cabinet approved the much earlier declared yet long-pending Indian acquisition of 22 Apache AH- 64E attack helicopters and 15 Chinook CH-47F heavy lift copters, both made by Boeing, with an option for 11 more Apaches and 7 more Chinooks, at a total cost of $3.1 billion (Rs 1900 crores).

Modi's Silicon Valley Visit: Inviting Digital Colonialism for Media Hype

MODI recently had one of his now trademark sound and light shows in the SAP centre in Los Angeles, when he visited Silicon Valley, the home of high-tech IT industry in the US. He coupled this with meeting the CEO's of companies such as Google, Microsoft, Tesla and a “town hall” with Mark Zuckerberg, the founder and head of Facebook.

Left Parties Organise Peace March Against Communal Incidents in Jharkand

THE communal violence incidents in the last week of September had created a sense of insecurity among people of Ranchi and other districts. On the festive occasion, incidents where meat was allegedly thrown outside places of worship in different places of Ranchi and some districts took place. These incidents are a part of planned conspiracy. They are not done by some mischievous groups but they are part of efforts for creating communal polarisation by organised communal forces.

Karat Meets Parrikar Seeking Support for Permanent Commissioning of Women Navy Officers

DEFENCE Minister Manohar Parrikar has given a categorical assurance to a group of women officers of the Navy, who met him on September 28 in New Delhi, along with CPI(M) Polit Bureau member Brinda Karat, that he fully supports the September 4 High Court judgement for their immediate reinstatement as permanent commission officers. He told the delegation that he would also take appropriate measures to see that there was no appeal against the judgement by the Navy.

Joint Convention of Mass Organisations Held in Bengal

MORE than hundred mass organisations met in a joint convention at Rani Rashmoni Road and announced the programme of the movement on peoples’ issues.

Defeating Terror, CITU Wins Durgapur Steel Plant Election

IN a significant development, workers of Durgapur Steel Plant (DSP) elected the CITU as the sole bargaining agent in an election, which went beyond an event of recognition of union in a factory. The ruling party of the state created an atmosphere of terror, not only in the public sector plant but in the entire Durgapur and exercised all efforts to win the election. But TMC-affiliated INTTUC was squarely defeated in the secret ballot.

Polit Bureau Communiqué

The Polit Bureau of the Communist Party of India (Marxist) met in New Delhi on September 26 & 27, 2015. It has issued the following statement on September 27, 2015. PLENUM ON ORGANISATIONThe Polit Bureau discussed the broad outlines of the contents of the Report and the Resolution for the Organisational Plenum to be held from December 27-31, 2015 at Kolkata.The replies to the detailed questionnaire by the Party Centre to the state committees have been received and the documents for the plenum will be prepared incorporating these as well.

Condemn Dadri Killing

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement on September 30.THE Polit Bureau of the CPI(M) strongly condemns the mob attack which resulted in the gruesome killing of a man and critically injuring his son. Using the false allegation that beef was being kept and consumed in a Muslim household in Bisara village in Dadri, a mob attacked the house of Mohammad Akhlaq.This horrible incident is the outcome of a sustained communal campaign regarding cow slaughter and against beef consumption conducted by the Hindutva outfits.

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