Highlights of the day: Fed keeps key rates unchanged at 5.25-5.50%

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11:58 PM

Powell-led FOMC keeps key rates unchanged at 5.25-5.50% for 5th straight meeting

The US Federal Reserve, on Wednesday, announced its decision to keep the benchmark interest rates steady at 5.25 - 5.50 per cent, aligning with market predictions. This marks the fifth consecutive meeting without a change in rates. In its initial policy-setting meeting of the year, the rate-setting panel unanimously agreed to maintain the policy rate at its highest in 23 years. The panel indicated that it is unlikely to lower the target range until there is more confidence that inflation is steadily returning to the two per cent target. Since March 2022, the Federal Reserve has increased the policy rate by a total of 5.25 percentage points, representing one of the most rapid responses to increasing inflation in recent history. However, the central bank has held the rate steady since July, as inflation shows signs of nearing its target.

11:45 PM

FOMC signals that it will make 3 rate cuts in 2024

The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the US central bank's two per cent inflation target.

 

The Fed's new policy statement described inflation as remaining "elevated," and updated quarterly economic projections showed the personal consumption expenditures price index excluding food and energy rising at a 2.6 per cent rate by the end of the year, compared to 2.4 per cent in the projections issued in December.

11:37 PM

Powell-led FOMC to deliver policy verdict shortly

The US Federal Reserve will reveal its interest rate decision following a two-day Federal Open Market Committee (FOMC) meeting on Wednesday. Wall Street forecasts suggest the US central bank is poised to maintain the benchmark interest rates at 5.25 - 5.50 per cent for the fifth consecutive meeting. Concluding its initial policy-setting meeting of the year, the rate-setting panel voted unanimously to keep the policy rate at a 23-year peak. However, it noted that reducing the target range is not anticipated until there is greater assurance that inflation is consistently approaching the two per cent mark. Since March 2022, the Federal Reserve has increased the policy rate by a total of 5.25 percentage points, responding rapidly to surging price pressures. However, since July, the central bank has held the policy rate steady, as inflation gradually moves towards its target.

9:46 PM

Facebook, Instagram users reporting problems: Reports

Facebook, Instagram users reporting problems, according to Downdetector.

9:35 PM

I-Process Services (India) has become subsidiary of ICICI bank

9:30 PM

A safe country is the basis of a developed India: PM Modi at News18 conclave

India has no reason to be behind any country; we have to work with 'nation first' approach: PM Modi at News18 summit. 

9:30 PM

ECI cracks down on unauthorised political ads

The Election Commission of India has taken serious note of the non-compliance/partial compliance of its instructions and hereby directs all State/UT Governments to immediately remove all unauthorised political advertisements and ensure full compliance with its aforesaid instructions, ECI notified. The Commission has been receiving complaints from Congress and other quarters alleging that unauthorised political advertisements are still being displayed in many places across the country.

8:48 PM

PM Modi's March 21-22 Bhutan visit postponed

PM Modi's March 21-22 Bhutan visit postponed due to inclement weather conditions there; New dates being worked out: MEA. 

7:45 PM

All agency banks to remain open for public on Sunday, March 31, 2024

All agency banks to remain open for public on Sunday, March 31, 2024

7:36 PM

Nomination process for first phase of Lok Sabha polls begins

The nomination process for 102 parliamentary constituencies spread across 21 states and Union territories, where polling would be held in the first phase of the Lok Sabha elections on April 19, began Wednesday with the issuance of a notification.

 

In the first phase, polling will be held in Arunachal Pradesh (2 seats), Assam (5), Bihar (4), Chhattisgarh (1), Madhya Pradesh (6), Maharashtra (5), Manipur (2),

 

Meghalaya (2), Mizoram (1), Nagaland (1), Rajasthan (12), Sikkim (1), Tamil Nadu (39), Tripura (1), Uttar Pradesh (8), Uttarakhand (5), West Bengal (3), Andaman and Nicobar (1), Jammu and Kashmir (1), Lakshadweep (1) and Puducherry (1).

 

The last date for filing nomination papers is March 27. However, due to a festival, March 28 is the last date for filing nominations for the Lok Sabha seats in Bihar going to polls in the first phase. Voting in four out of 40 seats in Bihar will be held in the first phase.

 

Nomination papers will be scrutinised on March 28. For Bihar, it would be done on March 30.

7:29 PM

Sadhguru undergoes surgery for chronic brain bleed at Delhi hospital

Sadhguru Jaggi Vasudev underwent surgery at a Delhi hospital for a life-threatening brain bleed, his Isha Foundation said in a statement. He is recovering well, and improving "beyond expectations", it added.
 

"The Apollo hospital neurosurgeons cut through my skull and tried to find something. But they found nothing... totally empty," Sadhguru jokes from his hospital bed after the surgery in a video posted on Instagram.

 

"... they gave up and patched it up. Here I am in Delhi, with a patched-up skull but no damage," he added.

6:37 PM

Centre notifies Fact Check Unit under PIB of Ministry of Information and Broadcasting

Centre notifies Fact Check Unit under PIB of Ministry of Information and Broadcasting as the fact check unit of the Central government.

5:58 PM

Unidentified gunmen open fire at Pakistan's Gwadar port, two attackers killed

Unidentified gunmen opened fire at Pakistan's Gwadar port authority complex in its restive Balochistan province, Geo News reported on Wednesday. Two attackers were killed in retaliatory firing by security personnel, the TV channel said, adding that a blast preceded the firing. Gwadar’s deputy commissioner and police did not immediately respond to requests for comment. Gwadar is located near the Strait of Hormuz, a crucial oil shipping route in the Arabian Sea.

4:57 PM

News update: BPSC cancels teacher recruitment examination 2024

After allegations of a paper leak emerged, Bihar Public Service Commission (BPSC) has cancelled the Teacher Recruitment Exam 2024 (TRE 3.0) which was conducted on March 15.

4:46 PM

NSUI members protest against Agniveer scheme; detained by Rajasthan police

4:43 PM

Former BSP leader Danish Ali joins Congress

4:39 PM

Imran Khan approaches Pakistan SC; seeks probe into February election results

Pakistan's jailed former prime minister Imran Khan today approached the Supreme Court to form a judicial commission to investigate the authenticity of last month's elections blemished by the allegations of rigging. The general elections were held on February 8 but Khan's Pakistan Tehreek-e-Insaf refused to accept the outcome, alleging that the results were manipulated.

 

4:13 PM

Central government defends Election Commissioners' appointment

The Centre argued before the Supreme Court on Wednesday that any challenges to the Chief Election Commissioners Act are politically motivated and "created only on basis of unsupported and pernicious statements". The government asserted that  no objection had been raised about eligibility of either of the two new appointees. "Instead, a political controversy is sought to be created... only on the basis of bare, unsupported, and pernicious statements about vague and unspecified motives," the government argued.

3:52 PM

News update: PM Modi congratulates Russian President Putin on re-election

3:33 PM

Delhi HC rejects PIL seeking case against Rahul Gandhi for making false statements

The Delhi High Court on Wednesday dismissed a public interest litigation (PIL), sought directions to Ministry of Home Affairs (MHA) and Election Commission of India (ECI) to register a complaint and investigate and prosecute the political leaders Rahul Gandhi, Arvind Kejriwal and Akhilesh Yadav for allegedly making misleading and false statements which were made with the intent to damage the image and credibility of Republic of India. While dismissing the plea, the bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora said," Don't underestimate the wisdom of the voter."

3:22 PM

"Petitioner trying to create row," government of India defends appointment of new election commissioners.

2:53 PM

Delhi liquor policy 'scam': Supreme Court grants interim bail to accused Abhishek Boinpally

The top court today granted a five-week interim bail to Hyderabad-based businessman Abhishek Boinpally, who has been arrested in a money-laundering case related to the alleged Delhi liqour policy scam.

2:50 PM

Abhilasha Joshi appointed as ambassador to Chile: Ministry of External Affairs

Abhilasha Joshi, additional secretary in the Ministry of External Affairs, has been appointed as the next Ambassador of India to the Republic of Chile, the ministry said today.

2:30 PM

Former Telangana governor Tamilisai Soundararajan rejoins BJP

Tamilisai Soundararajan, who quit her post as Telangana governor, rejoined the Bharatiya Janata Party(BJP) in Tamil Nadu. Tamilisai Soundararajan stated that although it was a tough decision to leave her post she was happy to be back working for the party.

2:27 PM

Former cop Pradeep Sharma jailed for life in 2006 fake encounter case

The Bombay High Court on Tuesday  sentenced former policeman Pradeep Sharma to life imprisonment in connection with the fake encounter of Ramnarayan Gupta, an alleged close aide of gangster Chhota Rajan in 2006, in Mumbai. A division bench dismissed the sessions court's 2013 judgment acquitting Sharma.

"The trial court had overlooked the overwhelming evidence available against Sharma. The common chain of evidence unerringly proves his involvement in the case," the court said.

2:00 PM

Budaun murder case: Father and uncle of accused Sajid held for questioning

Police officials have detained the father and uncle of accused Sajid for questioning. Two children were murdered in Baba Colony near the Mandi Samiti outpost yesterday. 

1:53 PM

Bribery case: Supreme Court grants bail to ED official Ankit Tiwari

The top court has granted interim bail to Enforcement Directorate (ED) official Ankit Tiwari, who was arrested by the Tamil Nadu Directorate of Vigilance and Anti-Corruption (DVAC) in December 2023 in an alleged bribery case.

1:23 PM

News update: DMK files complaint with ECI over Min Shobha Karandlaje's remarks

The Dravida Munnetra Kazhagam (DMK)  has filed a complaint with the Election Commission of India (ECI) over Union Minister Shobha Karandlaje's statement, blaming ‘people of Tamil Nadu’ for the Rameshwaram Cafe blast that took place in Bengaluru on March 1. 

1:20 PM

Delhi govt can order release of Rs 3,000 cr for DJB even after lapse on Mar 31: SC

The top court today assured the AAP government that it can always order release of Rs 3,000 crore funds meant for the Delhi Jal Board even after they lapse on March 31. The AAP government had moved the court seeking release of funds meant for the Delhi Jal Board.

1:14 PM

Entire case is political, have immense faith in the court: AAP leader on ED summons to Delhi CM Kejriwal

"We have been saying this since the beginning that the entire case is political. As it's a fake and political case, hence the ED summons are also false on technical and intentional grounds. We have taken it to the court; we have immense faith in the court and whatever decision it delivers, we will accept it," says AAP MP Sandeep Pathak