Live blog and updates: I wasn’t allowed to meet Jayalalithaa in Hospital, says O Panneerselvam; calls Sasikala ‘power hungry’
A revolt has broken out against V K Sasikala in the AIADMK with caretaker Chief Minister O Panneerselvam dropping a bombshell that he was forced to resign on Sunday to make way for her and hinted that he may withdraw his resignation if people of Tamil Nadu and party cadres so desired. In a dramatic development, AIADMK General Secretary V K Sasikala has alleged that the main opposition DMK was behind O Panneerselvam’s revolt against her and asserted that all the party MLAs were with her and hence there is “no problem” in her becoming the Tamil Nadu Chief Minister. Asked if Panneerselvam, who was removed from the post of party treasurer, would also be removed from AIADMK’s primary membership, she asserted, “for sure, we will do it.”
RBI likely to cut rates by 25 bps today on benign inflation, supportive budget
Fuelled by benign inflation, stable global environment as well as a supportive budget, the Reserve Bank of India (RBI) is likely to cut rates by 25 bps in its monetary policy review today. This will be the third monetary policy announcement after Urjit Patel took over as the RBI governor on September 4 last year. In a surprise move, the RBI had kept the repo rate unchanged in the fifth bi-monthly monetary policy statement for 2016-17 on December 7, while it had cut the repo rate by 25 bps in the October 4 policy review in 2016, which was the first rate cut by Patel as the Governor. Now, in the backdrop of demonetisation hurting growth, Finance Minister Arun Jaitley cutting the fiscal deficit to 3.2% for next year and the dovish stance adopted by the US Fed, the apex bank is expected to cut rates.
Uttar Pradesh Assembly Elections 2017 Live: PM Narendra Modi to address rally in Ghaziabad
With three days to go for Uttar Pradesh assembly elections, Prime Minister Narendra Modi will address a rally in Ghaziabad on Wednesday. PM Modi is likely to step up his attack against Samajwadi Party-Congress allaince and Mayawati-led BSP over corruption. PM Modi in Agra had said that his strict action against corruption has angered the opposition parties.