LIVE: Punjab govt imposes Rs 12.25 lakh fine in 460 stubble burning cases

The official said as per data till October 7, 1692 incidents were reported by satellite imagery, but during field visits by PPCB officials no stubble burning was observed in 763 cases.

8:58 PM

S&P 500, Dow track second straight weekly gain on stimulus optimism

Wall Street's main indexes opened higher on Friday, setting up the S&P 500 and the Dow for their second straight weekly gain on hopes of more federal fiscal aid and growing expectations of a Democratic victory in next month's presidential election.

Eight of the 11 major S&P indexes were up in early trading, led by materials and information technology. Energy stocks dipped, but were still set for their biggest weekly percentage increase since June.

The S&P airlines subindex edged up 0.1% as U.S. President Donald Trump called for a "skinny" relief bill that would include elements such as direct payments and a bailout to the struggling airline sector.

8:43 PM

Govt sees 9 times jump in paddy procurement in Punjab in 13 days

Paddy procurement at minimum support price (MSP) in Punjab, the food bowl of India, rose nine times to 15.99 lakh tonnes in the first 13 days of the ongoing kharif marketing season from 1.76 lakh tonne in the year-ago period, according to the Union Food Ministry.

Paddy procurement commenced in Punjab and Haryana from September 26 due to early arrival of the crop, while in other states from October 1.

More than 80 per cent of the country's paddy crop is grown in the kharif season. The government through Food Corporation of India (FCI) and state agencies undertakes procurement of paddy at MSP.

8:19 PM

Farm laws: SAD says will initiate national pro-farmer front

Akali Dal president Sukhbir Singh Badal said Friday that his party would take the lead to form a "national pro-farmer front" of regional parties against the three pieces of farm legislation passed by Parliament, asserting the laws won't benefit the farmers.

Badal, whose SAD quit the NDA over the laws, said he would personally be involved in the initiative and soon begin meeting representatives of other regional parties in Delhi. He also urged Prime Minister Narendra Modi to hold direct talks with the farmer organisations who are against the laws and address their grievances with a solution "acceptable to all".

8:09 PM

New agri reforms will encourage youths to opt for career in farming: Jitendra Singh

Union minister Jitendra Singh Friday said the new farm-related reforms effected by the Centre will benefit young agricultural entrepreneurs and encourage them to opt for a career in farming.

During an interaction with farmers, sarpanches and activists from Jammu and Kashmir's Doda and Kisthwar districts, he said, the reforms have huge futuristic vision and are aimed at enabling the young educated farmer of today to exercise his options in promoting his entrepreneurship and putting his technical knowledge to the best utility.

As the benefits of these reforms begin to be realised with each passing day, several youths from non-agricultural families will also start looking for a career as start-ups in the field of agriculture, the Minister of State for Personnel said.

7:39 PM

Delhi reports 2,860 new Covid-19 cases, tally rises to 303,000; 39 more die

The national capital's cumulative Covid-19 infection count rose to 3.03 lakh with the authorities reporting 2,860 new cases on Friday, while 39 fatalities took the number of deaths to 5,692.

This is the eighth day on the trot that the city reported less than 3,000 new cases. The figure stood at 2,726 on Thursday and2,871 on Wednesday.

Delhi reported 39 deaths on Friday. The fatality count was 37 on Thursday and 35 on Wednesday.

7:29 PM

Hearing adjourned in Delhi govt's plea against stay on reserving 80% ICU beds for Covid

The Delhi High Court on Friday adjourned to November 27 the hearing on a petition moved by the Delhi government challenging the stay order passed by a single judge bench on its order directing private hospitals in the national capital to reserve 80 per cent of ICU beds for Covid-19 patients.

A division bench of the high court comprising Chief Justice D.N. Patel and Justice Prateek Jalan adjourned the matter for further hearing to November 27.

On the previous date of hearing, the court, while issuing notice over the petition moved by the Delhi government, had refused to vacate at this stage the stay imposed by the single judge.

While the hearing in the matter was underway before the division bench, Additional Solicitor General (ASG) Sanjay Jain had submitted that the government has directed only 2 per cent of the private hospitals to reserve the ICU beds. "We are in the mid of one of the worst pandemics," Jain said.

 

7:18 PM

CBI books HDIL promoters Wadhawans for Rs 200-crore loan fraud in Yes Bank: Officials

The CBI has booked HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, along with other directors and auditors in the firm, in an alleged Rs 200-crore loan fraud in Yes Bank involving Mack Star, officials said Friday.

After registering the case, the CBI searched the residence of Rakesh Wadhawan and his son Sarang in Mumbai, they said.

The agency also carried out searches at nine other premises in Mumbai, including two offices of HDIL, they said.

7:12 PM

Bankers, experts hail RBI's growth-oriented policy

Bankers and financial experts on Friday hailed RBI's policy, saying the decision to keep the key repo rate unchanged is an accommodative approach to manage inflation while keeping growth as target, amid the current economic conditions.

The Monetary Policy Committee (MPC) evaluated domestic and global macroeconomic and financial conditions and voted unanimously to leave the repo rate unchanged at 4 per cent, RBI Governor Shaktikanta Das said in his policy statement for the bi-monthly monetary policy review.

It also decided to continue with the accommodative stance of monetary policy as long as necessary at least during the current financial year and into the next year to revive growth on a durable basis and mitigate the impact of COVID-19, while ensuring that inflation remains within the target going forward.

6:53 PM

New research points to low risk for Covid-19 transmission inflight: IATA

The International Air Transport Association (IATA) has demonstrated the low incidence of inflight Covid-19 transmission with an updated tally of published cases.

Since the start of 2020 there have been 44 cases of Covid-19 reported, in which transmission is thought to have been associated with a flight journey (inclusive of confirmed, probable and potential cases), it said. Over the same period some 1.2 billion passengers have travelled.

"The risk of a passenger contracting Covid-19 while onboard appears very low. With only 44 identified potential cases of flight-related transmission among 1.2 billion travelers, that is one case for every 27 million travellers," said Dr David Powell, IATA's Medical Advisor.

6:36 PM

Forex reserves up by $3.618 bn to record $545.638 bn

The country's foreign exchange reserves rose by $3.618 billion to reach a life-time high of $545.638 billion in the week ended October 2, 2020, the RBI data showed.

In the previous week ended September 25, the reserves had declined by $3.017 billion to $542.021 billion.

During the reporting week, the increase in forex kitty was on account of rise in foreign currency assets (FCA), a major component of the overall reserves. FCA increased by $3.104 billion to $503.046 billion in the week ended October 2, the data showed.

6:19 PM

Rate-sensitive bank, financial stocks gain after RBI policy

Rate-sensitive bank and financial stocks gained on Friday after the Reserve Bank of India (RBI) left benchmark interest rate unchanged at 4 per cent but retained an accommodative stance.

ICICI Bank was the top gainer in the Sensex pack, rising 3.64 per cent.

Other bank counters also witnessed buying with Axis Bank, RBL Bank, SBI, HDFC Bank, Bandhan Bank and Federal Bank gaining up to 3.64 per cent.

The BSE Bank index rose by 2.64 per cent at close of trade following gains in its components.

5:46 PM

Rupee extends gains by 8 paise against dollar on RBI dovish policy

The rupee strengthened by 8 paise to close at 73.16 against the US dollar on Friday after the Reserve Bank of India decided to keep benchmark interest rate unchanged.

The RBI kept repo rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the Covid-19 crisis.

At the interbank forex market, the rupee opened at 73.21 against the American currency and rose to a day's high of 73.02. The unit finally settled at 73.16 against the US dollar, up 8 paise from its previous close of 73.24.

In light of the RBI monetary policy and also the usual Friday G-Sec auction, trading hours were extended for both forex as well as bond markets.

5:18 PM

Delhi taking lead in fight against pollution, but neighbouring states still not serious: Gopal Rai

The AAP government is taking the lead in fight against air pollution in Delhi-NCR, but the neighbouring states are still "not serious" about the issue despite it becoming "more dangerous" due to the Covid-19 pandemic, Delhi Environment Minister Gopal Rai has said.

He said the AAP government wants cooperation not confrontation with other states on the issue of air pollution. The land has been divided into states but the sky is one.

He said the Pusa bio-decomposer initiative as a solution to stubble burning will benefit Haryana and Punjab more, and Delhi's benefit is that it will get rid of the smoke from farm fires that make the city a gas chamber every year.

Stubble burning, which contributes significantly to the rise in pollution levels in Delhi and the National Capital Region, has started in Haryana and Punjab.

5:04 PM

Sensex rallies 327 pts post RBI policy outcome; extends gains for 7th day

Equity benchmark index Sensex rallied 327 points on Friday, extending gains for the seventh straight session on the back of financial stocks after the RBI left benchmark rate unchanged but decided to maintain an accommodative stance.

RBI Governor Shaktikanta Das' comments on expectation of GDP turning positive in the January-March quarter of the current financial year also fuelled the market rally, traders said.

The 30-share BSE index ended 326.82 points or 0.81 per cent higher at 40,509.49 while the broader NSE Nifty rose by 79.60 points or 0.67 per cent to 11,914.20.

ICICI Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Axis Bank, HDFC twins, SBI, L&T, ONGC and Infosys.

4:51 PM

First time in my life I've been without words: WFP head on Nobel prize win

The head of the UN World Food Programme, David Beasley, has told The Associated Press that he was left speechless by the awarding of the Nobel Peace Prize to his organisation.

I think this is the first time in my life I've been without words. I was just so shocked and surprised," Beasley said, speaking from Niger on Friday, after the AP gave him the news.

The World Food Programme on Friday won the 2020 Nobel Peace Prize for its efforts to combat hunger and food insecurity around the globe.