Top headlines: One dies in Agnipath protests, RBI defends policy pace

Business Standard brings you the top headlines this hour

The top headlines at this hour cover protests against the Agnipath military recruitment scheme. Governor Shaktikanta Das refutes criticism tha the Reserve Bank of India was behind the curve.

One killed, trains torched as Agnipath protests spread across India

One person was killed in police firing in Secunderabad, the first casualty of protests against the Agnipath defence recruitment scheme that raged through several states for the third day on Friday with trains torched, public property vandalised and many thousands blocking tracks and highways. At least 200 trains were affected, 35 cancelled and 13 short-terminated, railway officials said. Read more...

RBI not behind curve, focus on inflation target would be risky: Das

Governor Shaktikanta Das on Friday refuted criticism of the RBI being behind the curve in its policies, making it clear that the consequences of focusing on the 4 per cent inflation target would have been "disastrous" for the pandemic-hit economy. In comments that came two days after former Chief Economic Advisor Arvind Subramanian co-authored an article blaming the RBI for acting late on inflation and being behind the curve, Das said the central bank acted as per the evolving economic developments and also gave out a timeline of its actions to explain the shift. Read more...

WTO's vaccine patent waiver may have little impact on ground now: Industry

The World Trade Organisation (WTO)'s approval of a politically significant deal of a patent waiver for the manufacture of Covid-19 vaccines may have little immediate impact on boosting vaccine production or getting new technologies for vaccine production, industry and experts feel. India’s commerce and industries minister Piyush Goyal said that the Trade-Related Aspects of Intellectual Property Rights (TRIPS) decision will boost vaccine equity, accessibility and affordability. Read more...

India to import 47,000 tonnes of urea from the US; more later

In a first, India will import nearly 47,000 tonnes of urea from the US as tech giant Samsung will load the consignment at the New Orleans port for shipment to New Mangalore, a news report said. The cargo, expected to be loaded later this week, is being supplied at a rate of $716.5 per tonne, cost plus freight (CFR), according to a report in The Indian Express. Read more...

Reliance considers buying out cosmetic firm Revlon in US: 

Indian conglomerate Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, business channel ET Now reported on Friday, citing sources. The report comes as Revlon filed for bankruptcy earlier this week after global supply chain disruptions drove up raw material costs and prompted vendors to demand upfront payments. Read more...