Raghuram Rajan Keeps Repo Rate Unchanged in RBI Policy

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Reserve Bank of India Governor Raghuram Rajan on Tuesday kept the key repo rate steady at 7.25 per cent as expected. Other key rates – the CRR or the cash reserve ratio and the SLR or the statuary liquidity ratio – were left unchanged at 4 per cent and 21.5 per cent respectively.

Raghuram Rajan Keeps Repo Rate Unchanged in RBI Policy

A status quo on interest rates was expected because retail inflation – the key parameter tracked by the RBI – edged up to an eight-month high in June. The continued uncertainty about monsoon rains, which irrigate nearly 60 per cent of the country’s farmlands, also likely weighed on RBI’s decision to hold rates, analysts say.

Dr Rajan has cut the key repo rate thrice this year, but the benefits for the broader economy have been limited because of commercial banks’ reluctance to lower their lending rates.

Tuesday’s monetary policy announcement comes amid a raging debate about a draft parliamentary bill that seeks to reduce the central bank’s independence to set interest rates.

The draft legislation, published last month for public comments, called for the creation of a rate-setting panel, removed a reference to the central bank governor’s veto power, and permitted the government to appoint more than half of its members.

Montreal Canadiens, Alex Galchenyuk Agree To Two-Year Deal

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Restricted free agent Alex Galchenyuk is back with the Montreal Canadiens after signing a two-year contract worth $2.8 million, a report said. The team announced the deal but did not disclose the terms of the agreement and ESPN reported the amount of the contract for the 21-year-old center from Milwaukee.

Lumia 940, Lumia 940 XL And Lumia 840 Running On Windows 10 Mobile To Release This Year

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Even though rumors from last year suggested the Lumia 940 and the Lumia 940 XL are the upcoming Microsoft flagship smartphones, recent speculation claimed the Redmond giant will be launching the Lumia 950 and the Lumia 950 XL as its flagship devices this year. However, fresh rumors are again claiming the Lumia 940 and 940 XL will be the names of the next flagship smartphones.

‘Halt And Catch Fire’ Canceled Or Renewed: Will There Be A Season 3? AMC Leaves Fans Waiting After Season 2 Finale [POLL]

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For “Halt and Catch Fire,” nothing has changed, even though everything has changed. For the second straight summer, the computer drama has failed to score the type ratings that would make AMC’s decision to renew the series an easy one. However, unlike last year, Season 2 of “Halt and Catch Fire” was a fantastic show, almost universally praised by critics for course correcting its Season 1 flaws.

China Must Expand Air Force Capabilities To Counter Threats From US, Japan, Taiwan and Vietnam, Government Report Finds

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China needs to increase its Air Force capabilities if it is to become the undisputed force in the Western Pacific and thwart the United States’ military pivot toward Asia, according to an official government study cited in a Monday report by the South China Morning Post.

Beijing South China Sea Military Expansion: World’s Largest Aircraft Carrier Dock Helps China Expand Naval Ambitions

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China has reportedly built the world’s largest aircraft carrier dock at its naval base in the South China Sea. The 700 meter-long dock is able to accommodate ships on both sides, allowing it to service two aircraft carriers or other large ships at the same time.

‘Assassin’s Creed Syndicate’ Dev Promises Better Game By Improving Characters, Getting Player Feedback

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“Assassin’s Creed Syndicate” will be Ubisoft’s next title following the rather glitchy “Assassin’s Creed Unity.” The developer received flak for what is termed an unfinished game released prematurely, given all the issues players encountered.

‘Star Wars: The Force Awakens’: Possible Name Of New Planet Revealed; J.J. Abrams Injured While Helping Harrison Ford

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Jakku may not be the only new planet to be introduced in the upcoming movie “Star Wars: The Force Awakens.” A report about some of the Lego toys from the movie reveals what is said to be the name of another planet. Meanwhile, director J.J. Abrams talked about getting injured while trying to help Harrison Ford on the set of the movie.

Obama Clean Power Plan Sets A ‘Powerful Example’ For Other Countries, Climate Change Experts Say

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President Barack Obama’s final plan to curb carbon emissions from U.S. power plants is a critical step in the administration’s strategy for fighting climate change. But the Clean Power Plan, to be unveiled Monday, will also boost momentum for a global climate change treaty and pressure other nations to make aggressive emissions cuts.

North West Plays Some Ball And Turns Kim Kardashian Into A Soccer Mom

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The list of credentials in Kim Kardashian’s resume just keeps growing. The reality TV star can now officially call herself a soccer mom after daughter North West picked up the sport.
The multimedia business mogul proudly declared herself a soccer mom on Instagram. Kardashian took to social media to share a series of photos of her daughter with husband Kanye West. North, 2, appears that she’s to show some interest in the sport.