LIVE: Rajasthan Governor orders state govt to call for assembly session

Rajasthan HC dismisses petition by BJP against merger of six BSP MLAs in the state with Congress. Stay tuned for latest news live updates

Latest news today live updates: The government has banned 47 more Chinese apps, taking the total number of mobile applications banned for being prejudicial to sovereignty, integrity and defence of the country, to 106, according to a source in PTI report.

Rajasthan Governor Kalraj Mishra on Monday agreed to summon a session of the state assembly provided the government gives a 21-day notice.

The condition is part of three suggestions the Governor has made while returning Ashok Gehlot Cabinet's recommendation that he should call a session of the Vidhan Sabha. This was the second time that Mishra has returned a Cabinet proposal on convening the assembly, amid the power tussle in Rajasthan.

Prime Minister Narendra Modi launched "high throughput" Covid-19 testing facilities in Noida, Mumbai and Kolkata. These centres are expected to ramp up testing capacity in the three cities.

Stay tuned for the latest news of the day

2:50 AM

Heavy rainfall likely in Delhi-NCR on July 29, 30; IMD issues alert

The India Meteorological Department on Monday issued an alert for heavy rainfall in the national capital on July 29 and 30.

 

In an advisory, the IMD said the heavy rainfall can cause water logging in low-lying areas and roads, leading to disruption of traffic flow and municipal services such as water supply and electricity.

 

"Delhi-NCR is very likely to experience moderate rain with one or two spells of heavy rainfall (more than 65 mm) during the evening of July 29 and July 30," it said.

2:49 AM

25-30 million lost jobs in MSMEs during March-June, says survey

A survey on micro, small, and medium enterprises conducted by SKOCH Group in collaboration with Federation of Indian Micro, Small and Medium Enterprises; Bhartiya Vitta Salahkar Samiti, and Tax Law Educare Society showed that estimated 25-30 million have lost jobs by the end of June.

 

Another 10-15 million jobs may be lost by the end of August. Read more

2:48 AM

Govt, RBI and 15th Finance Commission discuss bank recapitalisation

The Fifteenth Finance Commission is in discussions with the Centre and the Reserve Bank of India on the issue of bank recapitalisation, Commission Chairman N K Singh said on Monday.

 

The banking sector needs to open up to the same levels of ‘liberalisation process’ which other sectors have witnessed, Singh said. Read more

2:48 AM

RBI likely to slash policy rates by 100 bps in FY21: BofA Securities

Analysts at BofA Securities, in their July 26 note, have predicted contraction of Indian economy, as measured by gross domestic product (GDP), at 6 per cent in fiscal year 2020-21 (FY21) as their base case.

 

BofA expects the monetary policy committee (MPC) of the Reserve Bank of India (RBI) to slash policy rates by 100 bps in FY21 (earlier expectation: 75 bps) as base case, with inflation set to slip to 2.5 per cent in the second half of the fiscal year (H2FY21) from 6.3 per cent in July.

1:13 AM

UK, India to collaborate in anti-microbial resistance research worth 8 million pounds

1:12 AM

Oldest living IAF fighter pilot turns 100, Air chief extends greetings

Retired Squadron Leader Dalip Singh Majithia, who holds the distinction of being the oldest living IAF fighter pilot, turned 100 on Monday.

 

Air Chief Marshal RKS Bhadauria extended his greetings to the centenarian who had retired in August 1947 when India achieved Independence.

 

"IAF extends its best wishes to Sqn Ldr Dalip Singh Majithia (retd) on his 100th birthday today. He retired in Aug 1947 & holds the distinction of being the 'oldest' IAF fighter pilot now," the IAF tweeted.

12:26 AM

NASA's next Mars rover is brawniest and brainiest one yet

With eight successful Mars landings, NASA is upping the ante with its newest rover.

 

The spacecraft Perseverance set for liftoff this week is NASA's biggest and brainiest Martian rover yet.

 

It sports the latest landing tech, plus the most cameras and microphones ever assembled to capture the sights and sounds of Mars.

 

Its super-sanitized sample return tubes for rocks that could hold evidence of past Martian life are the cleanest items ever bound for space. A helicopter is even tagging along for an otherworldly test flight.

11:46 PM

Bombay Flying Club becomes country's first DGCA-approved drone training school: Aviation Ministry

11:34 PM

IMD issues alert for heavy rainfall in Delhi on July 29, 30

The India Meteorological Department on Monday issued an alert for heavy rainfall in the national capital on July 29 and 30.

 

In an advisory, the IMD said the heavy rainfall can cause water logging in low-lying areas and roads, leading to disruption of traffic flow and municipal services such as water supply and electricity.

 

"Delhi-NCR is very likely to experience moderate rain with one or two spells of heavy rainfall (more than 65 mm) during the evening of July 29 and July 30," it said.

 

Kuldeep Srivastava, the head of the IMD's regional forecasting centre, said, "At present, the monsoon trough is running close to the foothills of the Himalayas. It will start shifting southwards on Tuesday. It will be close to Delhi-NCR from Tuesday evening to Thursday."

11:33 PM

DRDO launches contest to promote innovators on fifth death anniversary of Kalam

11:17 PM

US drugmaker earnings heat up this week with spotlight on vaccine news

Several major US drugmakers will report second-quarter results this week, with investors eager for fresh details from Pfizer Inc, Merck & Co and others on their efforts to develop vaccines and therapies against the novel coronavirus.

 

The earnings reports, including from Gilead Sciences Inc - maker of one of the only treatments that has shown a benefit for hospitalized Covid-19 patients - will be closely watched for any developments that could help contain the pandemic, which has claimed some 650,000 lives worldwide and upended economies.

 

The supply, pricing and profitability for these potential products also will be hot topics for companies reporting this week, including Eli Lilly and Co, which is developing an antibody treatment for the still rapidly-spreading disease.

 

Earnings reports are also due from British drugmakers GlaxoSmithKline Plc and AstraZeneca Plc and France's Sanofi, which are working on vaccines in various stages of development.

11:16 PM

Gold hits record, equities edge higher on stimulus hopes

Global equity benchmarks edged higher and gold soared to an all-time high on Monday as investors weighed expectations for another US stimulus package with concerns that rising tensions between the United States and China will the slow the recovery of the global economy from the coronavirus pandemic.

 

Gold made a 1.6 per cent jump to surpass its 2011 highs and put $2,000 per ounce in sight. Silver climbed 7.5 per cent, to take its July streak past 30 per cent, which would be its best month on record.

 

China took over the premises of the US consulate in the southwestern city of Chengdu on Monday, after ordering that the facility be vacated in retaliation for China's ouster last week from its consulate in Houston.

11:14 PM

SDMC nod to levy professional tax, decision on electricity tax hike postponed

The BJP-led South Delhi Municipal Corporation on Monday approved levying of professional tax on salaried individuals and others, amid furore from opposition AAP which protested the move in the SDMC House.

 

As per the decision, salaried individuals and professionals like doctors and lawyers will have to pay professional tax if their monthly income is above Rs 50,000, officials said.

 

However, the decision will await approval from the Delhi government, sources said.

10:41 PM

Growth depends on social norms, political culture, institutions; not just economic policies: Kaushik Basu

Economic growth of a country depends on social norms, political culture and institutions, and these are deterioratingin India visibly from 2016, former World Bank chief economist Kaushik Basu said on Monday, emphasising that if these trends are not reversed then Indian dream will come to an end.

 

Participating in a webinar organised by the Institute for Human Development, Basu charged that the breakdown of social cohesion is beginningto hurt India.

 

"India's sharp economic slowdown started two years before the Covid-19 pandemic. The economy does not rely on economic policy alone.

 

"The economy depends on social norms, onpolitical culture, on institutions and on morals. And these are deterioratingin India visibly from 2016 and almost in tandem with the drop in growth," he said.

 

Basu, a professor of economics at Cornell University and former chief economic adviser to the finance ministry during the UPA regime, said that India's growth rate is coming down.

10:28 PM

India's partnership with Bangladesh stands out as role model for good neighbourly ties: EAM