State Bank of India cuts MCLR by 10 bps effective September 10

Agencies
September 9, 2019

Sept 9: State Bank of India (SBI) on Monday reduced the MCLR and interest rates on time deposits across all maturities.

The state-run lender, which is the country's largest bank, announced a reduction in the MCLR by 10 basis points (BPS), effective September 10.

SBI also cut retail term-deposit rates by 20-25 bps and cut bulk term-deposit rates by 10-20 bps, according to ET Now.

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News Network
May 18,2024

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In a humanitarian move, Spain has refused entry to a ship carrying arms from India’s Chennai to Israel to dock at one of its ports, its Foreign Minister José Manuel Albares has said.

The Denmark-flagged cargo ship Marianne Danica sailed from Chennai on April 8 when people in Gaza were observing Ramadan fasting, and was headed to the port of Haifa in Israel, according to maritime tracking portals and Spanish media.

Spain has been extremely critical of the rising civilian casualties due to the Israeli offensive in Gaza and, along with Belgium, has suspended arms exports licenses to Tel Aviv. 

Spokesperson of the Ministry of External Affairs Randhir Jaiswal, at the weekly press conference, only said that they have seen the report of the ship and will revert with more information.

Meanwhile, a source said, “Investigation will reveal if the items on board were cleared for export and if the end user is the same as reported by The Guardian because there are items that are not banned for exports.”

Speaking to reporters in Brussels on Thursday on the issue, Mr. Albares had said, “This is the first time we have done this because it is the first time we have detected a ship carrying a shipment of arms to Israel that wants to call at a Spanish port.”

“This will be a consistent policy with any ship carrying arms to Israel that wants to call at Spanish ports. The Foreign Ministry will systematically reject such stopovers for one obvious reason: the Middle East does not need more weapons, it needs more peace,” he stated.

The ship was carrying 27 tonnes of explosives according to local reports. It was to make a port call at Cartegena in Spain.
In February, Mr. Albares said that they had suspended arms export licences to Israel since October 7, which he said made them “realise” the importance of a “fair and lasting solution” to the Palestinian cause.

The incident comes amid an ongoing row between Spanish Prime Minister Pedro Sánchez’s party and his coalition partners over another ship, Borkum, that was due to dock at Cartegena port on Friday over allegations that it was carrying arms meant for Israel. However, the Spanish government has said that the arms it is ferrying are meant for the Czech Republic.

Belgium had suspended two arms export licences to Israel.

“We welcome the decision of the Spanish government to deny the transit authorisation of the vessel Marianne Danica, in accordance with Tratado (treaty) on Arms Trade and Spanish law,” Amnesty International Spain said on social media platform ‘X’.

The timing also coincides with the Israeli ground offensive inside Rafah. According to the UN Agency for Palestinian Refugees (UNRWA) at least 6,30,000 Palestinians have been forced out of Rafah since the launch of the incursion on May 7.

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News Network
May 11,2024

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Madikeri, May 11: Kodagu police have apprehended the man allegedly responsible for the brutal murder of a minor girl within the confines of Kumbaragadige village in Karnataka's Somwarpet taluk. 

Kodagu Superintendent of Police, K Ramarajan, disclosed that the arrested individual is Prakash (32) from Hammiyala village in Somwarpet taluk. However, authorities are still in the process of recovering the severed head of the victim. The perpetrator had absconded with the victim's severed head after committing the crime. 

Search operations for the suspect commenced late on Thursday night (May 9), with officials diligently pursuing leads. Acting on information suggesting the suspect's presence in a forested area near the village, the police swiftly moved in and apprehended him.

The victim US Meena, 15, a student of Surlabbi High School, had passed the SSLC examinations, the results of which were announced on May. One same day, she was murdered. 

Reportedly, the engagement of the minor girl with the suspect was thwarted by officials from the Women and Child Development department. Subsequently, officials persuaded the girl's parents against proceeding with the marriage. 

However, despite these interventions, the suspect forcibly entered her residence during the night, purportedly abducted her, and later perpetrated the heinous crime in a wooded area on the outskirts of the forest, before absconding with her severed head.

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News Network
May 17,2024

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Bengaluru: The India Meteorological Department (IMD) on Friday forecast heavy rainfall and thunderstorms in a few districts of Karnataka and said Bengaluru is likely to witness light to moderate rain and thunderstorms, with temperatures ranging from 30 degree Celsius to 22 degree Celsius in the next 24 hours.

Shivamogga, Chikkamagaluru, Kodagu, Hassan, Mysuru, Mandya, Chamrajanagara, Udupi and Dakshina Kannada districts are likely to experience heavy to very heavy rainfalls between May 17 and 21, said C S Patil, Director of Meteorological Centre, India Meteorological Department, Bengaluru.

According to India Meteorological Department, some places in Kodagu, Hassan, Mysuru, Mandya and Tumukuru districts will also witness, gusty winds (40-50 kmph) on May 18.

Moderate rain and thundershowers are also likely in Chikkaballapura, Chitradurga, Davangere, Kolar, Ramanagara and Vijayanagara districts.

IMD also predicts light to moderate rain very likely at some places over Bagalkote, Belagavi, Bidar, Dharwad, Gadag, Haveri, Kalaburgi, Koppal, Raichur and Yadgir districts.

On May 16, Channagiri in Davanagere district received the highest rainfall of 6 cm. 

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