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<ul class="summary-list"><li>Boeing agreed to plead guilty to defrauding the US on Sunday. </li><li>In May, the DOJ accused Boeing of violating a 2021 settlement over two fatal Boeing 737 Max crashes.</li></ul>Boeing has agreed to <a target="_blank" href="https://www.businessinsider.com/boeing-737-max-fatal-crashes-doj-fraud-chrage-2024-6">plead guilty to defrauding the US</a>, essentially admitting to accusations that it violated an earlier agreement to strengthen its safety measures in the wake of two fatal Boeing 737 Max crashes in 2018 and 2019."The parties have agreed that Boeing will plead guilty to the most serious readily provably offense," the Justice Department said in a court filing on Sunday night.Last week, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-30/doj-to-charge-boeing-seek-guilty-plea-from-planemaker">reported</a> that federal prosecutors had offered Boeing the choice of either accepting the plea deal or risk facing trial.Under the plea deal, Boeing will have to pay a fine of $243.6 million. This is on top of the $243.6 million Boeing had already paid as part of the 2021 settlement it breached.Besides the fine, Boeing will be required to "invest at least $455 million in its compliance and safety programs." In addition, the government will appoint an independent compliance monitor to oversee the company for three years."We can confirm that we have reached an agreement in principle on terms of a resolution with the Justice Department, subject to the memorialization and approval of specific terms," a spokesperson for Boeing told BI in a statement on Monday morning.Paul Cassell, an attorney for 15 of the victims' families, told BI on Monday that he has filed an objection to the plea deal."This sweetheart deal fails to recognize that because of Boeing's conspiracy, 346 people died," Cassell said in a statement. "A judge can reject a plea deal that is not in the public interest, and this deceptive and generous deal is clearly not in the public interest."Boeing had initially avoided a fraud charge related to two fatal Boeing 737 Max crashes — one <a target="_blank" href="https://www.businessinsider.com/lion-air-crash-timeline-boeing-737-max-disaster-killed-189-2019-10">near the coast of Indonesia</a> in 2018 and <a target="_blank" href="https://www.businessinsider.com/boeing-737-max-ethiopian-airlines-302-crash-year-2020-3">another in Ethiopia</a> in 2019 — after it struck a $2.5 billion settlement agreement with the DOJ in 2021.Notably, the 2021 agreement did not impose an independent compliance monitor on Boeing.The DOJ said in a <a target="_blank" href="https://www.justice.gov/opa/pr/boeing-charged-737-max-fraud-conspiracy-and-agrees-pay-over-25-billion">statement</a> then that a monitor wouldn't be necessary because "the misconduct was neither pervasive across the organization, nor undertaken by a large number of employees, nor facilitated by senior management."But the DOJ accused Boeing of violating the terms of the agreement in May, just months after a <a target="_blank" href="https://www.businessinsider.com/passenger-alaska-airlines-flight-1282-portland-california-boeing-2024-1">door plug from a Boeing 737 Max 9 blew out</a> mid-flight.The incident, which took place in January, prompted the Federal Aviation Administration to <a target="_blank" href="https://www.businessinsider.com/boeing-737-max-9-to-remain-grounded-with-revised-inspections-2024-1">order the grounding</a> over 170 such planes."The plea agreement will not provide Boeing with immunity for any other conduct, including any conduct that may be subject of any ongoing or future Government investigation of the Company," the DOJ said in its filing on Sunday.

Boeing's big mea culpa just dropped and it doesn't look pretty

Meta will soon discontinue the "cross-app communication <keyword id="794" type="General" weightage="20" keywordseo="chat" source="Orion">chat</keyword>s" feature that lets you chat with <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword> friends on <keyword id="819905" type="General" weightage="20" keywordseo="instagram" source="Orion">Instagram</keyword>. Starting in mid-December, the company will disconnect the feature, which it added in 2020. "Beginning in mid-December 2023, you will no longer be able to chat with Facebook <keyword id="6374937" type="General" weightage="20" keywordseo="accounts" source="Orion">accounts</keyword> on Instagram," the company wrote on its support page. The company didn't mention the reason for doing so, but, as 9to5Google speculates, avoiding regulatory ramifications in the European Union (EU) seems like a reason behind this development. Once the cross-app communication feature is removed, you will not be able to start new conversations or calls with Facebook accounts from Instagram. Any existing chats on Instagram that you've had with Facebook accounts will become read-only, even if these Facebook accounts are removed from the chat, meaning you and others with Instagram accounts cannot send new messages in these chats, the company explained. In addition, Facebook accounts will not be able to view your Activity Status or whether you've seen a message. Any existing chats you've had with Facebook accounts will not move to your inbox on Facebook or Messenger. Meanwhile, Meta has introduced new updates on several products across Facebook and Instagram to help creators make money. The company is testing a new invite-only holiday bonus on Instagram for creators in the US, South Korea and Japan. Creators will earn based on the number of reels plays and photo views they receive during the bonus period, as long as the content passes Content Monetisation Policies.

Meta to discontinue cross-app communication chats on Instagram

<ul><li>India is asking <keyword id="6356687" type="General" weightage="50" keywordseo="canada" source="Orion">Canada</keyword> to take action against those facing charges related to terrorism.</li><li>Canadian PM unequivocal about the importance of the rule of law and protecting Canadians.</li><li>Both the countries have fired a diplomat each in a tit-for-tat move.</li></ul> Canada Prime Minister <keyword id="1740494" type="General" weightage="80" keywordseo="justin-trudeau" source="Orion">Justin Trudeau</keyword> on Thursday said that India is a country of growing importance, adding that Canada is not looking to provoke or cause problems and called upon the government of India to work with Ottawa to establish processes to uncover the truth in the murder of Khalistan extremist, <keyword id="7575364" type="General" weightage="40" keywordseo="Hardeep-Singh-Nijjar" source="Orion">Hardeep Singh Nijjar</keyword>. Trudeau's recent statement comes as the diplomatic standoff between India and Canada escalated to a level that the envoys of both countries have been expelled in a tit-for-tat move. He also stressed that Canada is unequivocal about the importance of the rule of law and protecting Canadians as well as standing up for values. "There is no question, India is a country of growing importance and a country that we need to continue to work with not just in a region but around the world and we are not looking to provoke or cause problems but we are unequivocal about the importance of the rule of law and unequivocal about of the importance of protecting Canadians and standing up for values," Trudeau said while addressing a press conference at Canada's Permanent Mission to the United Nations in New York. "That's why, we call upon the government of India to work with us to establish processes to uncover the truth of the matter and to allow justice and accountability to be served," Trudeau added. Trudeau's recent statement comes as the diplomatic standoff between India and Canada escalated to a level that the envoys of both countries have been expelled in a tit-for-tat move. Indian <keyword id="193522" type="General" weightage="20" keywordseo="External-Affairs-Ministry" source="Orion">External Affairs Ministry</keyword> in its response to the allegations by Canada had said, "Yes these allegations were raised by Canadian PM Justin Trudeau with PM (Modi) and PM rejected them." Indian government's stance The MEA said that allegations were raised by Trudeau when he was in India to attend the G20 Summit and that PM Modi had rejected them. MEA spokesperson <keyword id="10953867" type="General" weightage="20" keywordseo="Arindam-Bagchi" source="Orion">Arindam Bagchi</keyword> said that Canada has not shared any specific information regarding the allegations and that India is asking Canada to take action against those facing charges related to terrorism."We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada," Bagchi said on Thursday answering queries. "We are willing to look at any specific information that is provided to us, but so far we have received no specific information from Canada," Ministry of External Affairs spokesperson Arindam Bagchi said on Thursday answering queries. Moreover, Canadian Prime Minister Justin Trudeau also took questions about Canada's tensions with India during a press conference. On sharing evidence, Canadian PM Justin Trudeau said, "Canada has a rigorous and independent justice system, that we trust, to follow through the processes, we will ensure that those processes are strictly, abided by and respected." Regarding the safety of Canadians, he said, "I can tell everyone that Canada is a safe country. We always take Canadians' safety seriously, whether they are at home or abroad." "Canada has a rigorous and independent justice system, that we trust, to follow through the processes, we will ensure that those processes are strictly, abided by and respected. In terms of safety in Canada and the safety of Canadians, we always take the safety of Canadians extremely seriously, whether at home or overseas, I can assure everyone that Canada is a safe country," Trudeau said, while adding, "I continue to call, for calm, and for Canadians to remain true to who we are, open, respectful, grounded in, respect and trust in our institutions and, our law enforcement and justice systems." Speaking further, the Canadian PM repeated his allegations over the killing of the Khalistani leader and stated, "I think it's extremely important that as a country with a strong and independent justice system. We allow those justice processes to unfold themselves with the utmost integrity. But I can assure you, the decision to share these allegations on the floor of the House of Commons was not made lightly. It was done with utmost seriousness..." Nijjar, the chief of Khalistan Tiger Force (KTF) - a Sikh extremist organisation banned by India and a "designated terrorist" was killed in a targeted shooting at British Columbia in Canada's Surrey in June 2018. India, however, rejected the allegations by the Trudeau administration, terming them "absurd" and "motivated". "We have seen and reject the statement of the Canadian Prime Minister in their Parliament, as also the statement by their Foreign Minister," the Ministry of External Affairs (MEA) said in a statement. "Allegations of Government of India's involvement in any act of violence in Canada are absurd and motivated," the MEA added in its statement. "Similar allegations were made by the Canadian Prime Minister to our Prime Minister and were completely rejected. We are a democratic polity with a strong commitment to the rule of law," it added. Diplomatic action India on Tuesday expelled a senior Canadian diplomat in a reciprocal move to Canada expelling a senior Indian diplomat in light of the claim of New Delhi's involvement in the killing of the wanted separatist leader. The MEA said that the Canadian diplomat was asked to leave India within the next five days. "The High Commissioner of Canada to India was summoned today and informed about the decision of the Government of India to expel a senior Canadian diplomat based in India," the MEA stated. "The concerned diplomat has been asked to leave India within the next five days. The decision reflects the Government of India's growing concern at the interference of Canadian diplomats in our internal matters and their involvement in anti-India activities," it added. (With text input from ANI)

India-Canada tension: Trudeau says not looking to provoke; MEA says no specific information shared

<ul><li>MEA has launched a three-month internship programme starting from April till June 2022.</li><li>The Ministry will be hiring only 75 candidates under this programme in New Delhi.</li><li>The last date to apply for the internship programme is February 15.</li></ul>India’s <keyword id="6374106" type="General" weightage="20" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (MEA) has launched an internship programme as part of the <keyword id="10912165" type="General" weightage="20" keywordseo="azadi-ka-amrit-mahotsav" source="Orion">Azadi Ka Amrit Mahotsav</keyword> celebrations to commemorate 75 years of independence. The duration of the internship is three months starting from April till June 2022. The Ministry will be hiring only 75 candidates under this programme in New Delhi. The last date to apply for the internship programme is February 15. “The MEA Internship Policy 2022 aims to take foreign policy closer to the people; bring in more focus on MEA; provide value to the interns; ensure better gender inclusivity and increase diversity in terms of qualifications, domicile and socio-economic status amongst the cohort of interns engaged by the ministry,” said the ministry in its official advertisement. Selected candidates will be given a monthly stipend of ₹10,000 to defray basic costs. Air fare to and fro from the domicile state to Delhi will be provided by the ministry. Eligibility criteria — <ol><li>Candidates should hold a graduation degree in any discipline from a recognised university/institution at the time of applying. </li><li>The internship programme will also be open to students who are presently in the final year of their graduation, where an internship is a mandatory part of their final year curriculum. </li><li>Age of the candidates should not exceed 25 years as on 31 December of the year of internship. </li></ol>Selection procedure — The selection process will consist of two stages — preliminary screening and personal interview. A minimum of 30% of the 75 internships may be filled by women candidates. Weightage will be based on academic performance assessed by percentage of marks obtained in +2 and graduation exams. Candidates will have to apply online only state-wise merit lists will be prepared – separately for male and female candidates – by elimination based on academic performance in +2 and graduation exams. Candidates selected in the merit lists, which will be announced on February 18, will be called for a personal interview between February 22-24, which will be conducted via video conferencing by the judge panel. At the end of the internship, each intern shall submit a detailed report on the work carried out and, if required, make a presentation on it. Interested candidates can fill out the online application <a href="https://www.internship.mea.gov.in/">here</a> and can seek more information <a href="https://internship.mea.gov.in/view_pdf_home">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/cognizant-reports-strong-revenue-growth-with-an-improving-attrition-rate/articleshow/89315375.cms">Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/budget-2022-mandates-all-startups-to-disclose-source-of-income-of-their-creditors/articleshow/89315291.cms">A tax guru explains all that is wrong with Indian government’s latest requirement for startups to disclose creditors’ source of income</a>

Ministry of External Affairs is offering internships to graduates with a monthly stipend of ₹10,000

State-owned lender, <keyword id="6354731" type="General" weightage="80" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword> (SBI) hit the Rs 5 lakh crore market capitalisation on Wednesday after its shares touched a record high of Rs 564.45. With this market capitalisation, SBI stood on the seventh position in the market capitalisation ranking. SBI has become the third lender in the country to cross the market cap of Rs 5 lakh crore. <keyword id="6357149" type="General" weightage="80" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword> held first rank in this list, which was followed by <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>. At 1.10 p.m., SBI shares were up Rs 14.75 or 2.64 per cent at Rs 573.00. Meanwhile, <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 126.21 points or 0.21 per cent down at 60,444.87, and <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> was 32.90 points or 0.18 per cent down at 18,037.15. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/patreon-lays-off-17-of-its-staff/articleshow/94198385.cms">Patreon lays off 17% of its staff</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/india-to-assume-g20-presidency-for-one-year-from-december-2022-host-over-200-meetings-and-mea-lists-priorities/articleshow/94194674.cms">India to assume G20 Presidency for one year from December 2022; host over 200 meetings and MEA lists priorities</a>

SBI hits ₹5 lakh crore market capitalisation

The <keyword id="6374106" type="General" weightage="50" keywordseo="ministry-of-external-affairs" source="Orion">Ministry of External Affairs</keyword> (<keyword id="6358274" type="General" weightage="80" keywordseo="mea" source="Orion">MEA</keyword>) on Thursday said the companies that operate in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> need to follow the law of the land. The remark was made by an MEA spokesperson in connection with the ongoing investigation related to Vivo and other Chinese firms. "Companies that operate here need to follow the law of the land. Our legal authorities are taking steps as per law of the land. I don't see the case to make comments as such on it," MEA spokesperson <keyword id="10953867" type="General" weightage="80" keywordseo="arindam-bagchi" source="Orion">Arindam Bagchi</keyword> in a media briefing. Meanwhile, a day after it was report<keyword id="12163" type="General" weightage="20" keywordseo="ED" source="Orion">ed</keyword> that two top executives of its associated company likely fled India, following raids, the ED on Thursday said that Chinese smartphone company Vivo was involved in huge 'hawala' transactions. It said that out of the total sale proceeds of Rs 1,25,185 crore, <keyword id="2829414" type="General" weightage="80" keywordseo="vivo-india" source="Orion">Vivo India</keyword> remitted Rs 62,476 crore -- almost 50 per cent of the turnover out of India, mainly to China. According to the ED, all due procedures as per law were followed during the said operations at each premises but employees of Vivo India, including some Chinese nationals did not cooperate with the search proceedings and had tried to abscond, remove and hide digital devices which were retrieved by the search teams. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rakesh-jhunjhunwala-backed-aksa-air-to-start-operations-this-month/articleshow/92738021.cms">Rakesh Jhunjhunwala-backed Aksa Air to start operations this month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/voice-tech-is-evolving-rapidly-here-are-the-top-trends-in-voice-tech-to-watch-for/articleshow/92727686.cms">Voice tech is evolving rapidly. Here are the top trends in voice tech to watch for</a>

Vivo needs to follow the law of the land, says external affairs ministry

<ul><li>The Ministry of External Affairs every year organises internship opportunities of six months in two terms.</li><li>Due to COVID-19 pandemic, the online application for Term 2 has not opened yet, and the ministry will soon announce the dates.</li><li>The ministry will select 30 interns with a monthly stipend of ₹10,000 per month.</li></ul>The Ministry of External Affairs (<keyword id="6358274" type="General" weightage="20" keywordseo="MEA" source="Orion">MEA</keyword>) every year organises an internship opportunity for budding scholars to familiarise themselves with the process of formulation of foreign policy and its implementation by the Government of India. The duration of the internship is six months offered in two terms -- Term 1 (January to June) and Term 2 (July to December). Due to COVID-19 pandemic, the online application for Term 2 has not opened yet, and the ministry will soon announce the dates. Interested candidates can keep a check on their <a href="https://www.internship.mea.gov.in/">official website</a>. The ministry will select 30 interns and they shall report to, work under close supervision of the concerned head of division (HOD). They may be required to conduct research, write reports, analyse evolving developments, or carry out any other task entrusted to them by the HOD. All the interns will get a monthly stipend of ₹10,000 per month. Candidates will have to report to the Delhi office during the course of their internship. The ministry will bear the travel cost for outstation candidates who will have to fly to Delhi from their home state. Eligibility criteria for the internship — 1. All the candidates should be an Indian citizen. 2. The maximum age limit for the candidates is 25 years as on December 31, of the year of the internship. 3. Candidates should have a minimum educational qualification of a graduate degree from a recognised university. 4. Candidates belonging to these states are only eligible for the opportunity — Term 1 — Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Goa, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Andaman &amp; Nicobar Islands, Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Delhi. Term 2 — Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Punjab, Rajasthan, Sikkim, Tamil Nadu, Telangana, Tripura, Uttar Pradesh, Uttarakhand, West Bengal, Jammu and Kashmir, Ladakh, Lakshadweep, Puducherry. 5. 30%-50% seats are reserved for women candidates. Selection procedure — <ol><li>Application weightage will be based on academic performance assessed by percentage of marks obtained in Plus Two and graduation exams. </li><li>The number of candidates called for an interview will be three times the number of interns to be selected. </li><li>Candidates selected in the merit lists will be called for personal interviews to be conducted via online. </li><li>If any selected candidates opt out, the next candidates in the merit list will be offered the opportunity. </li><li>An intern can choose to terminate the internship giving prior notice of one week to the ministry. </li></ol>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/morgan-stanley-rolls-out-returning-to-work-programme-for-those-who-are-thinking-to-re-launch-their-career-after-a-break/articleshow/87617905.cms">Morgan Stanley rolls out ‘Returning to Work’ programme for those who are thinking to re-launch their career after a break</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzukis-new-celerio-launched-in-india-checkout-price-and-features/slidelist/87629721.cms">Maruti Suzuki’s new Celerio launched in India — Checkout price and features</a>

Internship at Ministry of External Affairs: Checkout details, stipend and how to apply

<ul><li>The <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>’s (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) forecast shows that rising prices in India are not going away soon.</li><li>This could undermine the very promise of keeping inflation at bay, made by the Bharatiya Janata Party (<keyword id="14666" type="COMPANY" weightage="20" keywordseo="BJP">BJP</keyword>) in 2014 when Narendra Modi was elected into office.</li><li>The annual average inflation this year, including the RBI’s forecast for March, is set to cross 6% — outside the apex bank’s inflation target range.</li></ul>High inflation, in the country, was one of the <a href="https://www.businessinsider.in/narendra-modi-governments-10-economic-agendas-that-stood-out-in-presidents-speech/articleshow/36297454.cms">biggest propellers</a> for Narendra Modi to get elected to the Prime Minister’s office in 2014, as he used it as one of his election campaign slogans against the incumbent government. Seven years later he might be faced with the worst bout of price rise in his tenure, and it has come at the most inopportune time — during a pandemic. As in any developing economy, the people of India are very sensitive to inflation. The crash in global crude oil prices kept inflation checked in the early years of Modi. However, recent supply disruptions since the COVID-19 pandemic have led to some serious price rise, despite an economic slump. The <a href="https://www.businessinsider.in/india/news/diesel-price-rise-highest-in-delhi-by-36-paise-per-litre/articleshow/80892419.cms">recent rise in the price of fuel</a> has caused much unease even among the supporters of the current government led by the Bharatiya Janata Party (BJP). <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Months </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Price Inflation (CPI) expectation in February </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revised expectation in April </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">January to March 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Under 5.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April to June 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6 to 5.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July to October 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.6 to 5.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October to December 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December to January 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.1% </td></tr></tbody></table>Source:RBI The average inflation for the financial year ending March 2021 was 6.69% and the pace of price rise may persist at nearly 5% in the coming 12 months as well. “Inflation expectations of urban households one year ahead showed a marginal increase over the three months ahead [quarterly] horizon according to the Reserve Bank’s March 2021 survey,” said Das. <div type="image" title="Copy of wipro share price(3)" msid="81946889" hostid="261" caption="&amp;lt;p&amp;gt;Average annual inflation in India from 2014 to 2021&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="The choice between doling out more money and keeping inflation in check" comment="subhead" text="The choice between doling out more money and keeping inflation in check">The choice between doling out more money and keeping inflation in check</cmsannotation> This is a catch-22 situation for the policymakers. On one hand, there is a need to stimulate the economy with more money and push it towards recovery from the damning blow of the pandemic. This increased money supply usually leads to inflation along with economic growth. But right now, inflation is already high and a meaningful economic recovery is yet to show. “The renewed jump in COVID-19 infections in certain parts of the country and the associated localised lockdowns could dampen the demand for contact-intensive services, restrain growth impulses and prolong the return to normalcy. In such an environment, continued policy support remains necessary,” said Das. <cmsannotation type="cmsannotation" annotationid="Consumer confidence is already low" comment="subhead" text="Consumer confidence is already low">Consumer confidence is already low</cmsannotation> While people wait for pandemic-related restrictions to ease and businesses wait for prospects to improve — or for employment opportunities to pop-up — the price rise has already started pinching their pockets. The RBI itself expects price of pulses⁠— like tur daal and urad daal— to remain expensive even as the price of cereals like rice and wheat to ease after the next harvest. Meanwhile, global crude oil prices ⁠— India relies on imports for over 80% of its oil needs ⁠— have repeatedly threaten to spiral out India’s comfort zone, and it, typically, fuels inflation in other products and services as well. The <keyword id="6374106" type="COMPANY" weightage="20" keywordseo="ministry-of-external-affairs">Ministry of External Affairs</keyword>, on April 2, made an appeal to the Organization of the Petroleum Exporting Countries (<keyword id="47969" type="COMPANY" weightage="20" keywordseo="Opec">OPEC</keyword>) to not restrict supply of crude oil. “Crude supply could be market determined rather than artificially managed,” <a href="https://theprint.in/india/india-pitches-for-easing-cuts-in-crude-oil-production-mea/633205/">said</a> <keyword id="6358274" type="COMPANY" weightage="20" keywordseo="MEA">MEA</keyword> spokesperson Arindam Bagchi. Within the country, both the RBI and the central government, are appealing to state governments to reduce duties on fuel like petrol and diesel before the consumers — and voters — become irreversibly irate. Given the slump in the economy and added expenses to manage a pandemic, it has become a tough decision to make. Prices of other commodities from iron ore and copper to aluminium, have also risen making a lot. This had made other products from steel to cars and other automobiles more expensive at a time when the demand is relatively tepid. <cmsannotation type="cmsannotation" annotationid="Testing times ahead for Team Modi" comment="subhead" text="Testing times ahead for Team Modi">Testing times ahead for Team Modi</cmsannotation> Yet, food and fuel prices are the ones that voters react to the most. The future of fuel prices is dependent on a variety of factors beyond the government’s control. For food prices, Governor Das’ hopes are pinned on a right amount of, and well distributed, rain from the southwest monsoon. But, as we all know, climate events aren’t as rare anymore. The next few months can be testing for policymakers to ensure that the populace, already frustrated by the ill-effects of the pandemic, does not get burdened by high prices before the economy improves. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

RBI forecast shows that Narendra Modi administration is facing its worst inflation period so far

<ul><li>The spokesperson for the Indian <keyword id="6374106" type="ORGANIZATION" weightage="20" keywordseo="ministry-of-external-affairs">Ministry of External Affairs</keyword> (MEA), Anurag Srivastava, said the Indian government has been creating infrastructure along border areas to facilitate economic development.</li><li>According to him, the only way to restore peace and tranquility along the India-China border areas is best done by adhering to ‘all relevant agreements.’</li><li>He also reiterated that Ladakh and Arunachal Pradesh are an ‘integral part’ of Indian territory and the same has been communicated to China at the highest levels, multiple times.</li></ul>The Chinese Foreign Ministry recently cited India’s border roads as the root cause of friction between the two Asian giants. However, the Indian Ministry of External Affairs has hit back saying that the development of infrastructure in border areas is being done to push economic development in those regions. “The government has given careful and specific attention to the improvement of infrastructure for the development of border areas,” said <keyword id="198527" type="POSITION" weightage="20" keywordseo="MEA-spokesperson">MEA spokesperson</keyword> Anurag Srivastava. He added that development of border infrastructure is an important part of meeting India’s strategic and security requirements. China’s comments were a reaction to Defence Minister Rajnath Singh inaugurating 44 new bridges, including eight in Ladakh, either in Jammu and Kashmir, two in Himachal Pradesh and four each in Punjab and Sikkim. “As for restoration of peace and tranquility in the India-china border areas, this is best done by scrupulously observing all relevant agreements in their entirety,” said Srivastava. Arunachal Pradesh and Ladakh are an ‘integral part’ of India China recently renounced Ladakh and Arunachal Pradesh as parts of the Indian territory. Chinese Foreign Ministry spokesperson claimed that India had ‘illegally’ established the Union Territory and opposed the infrastructure development in the area. “The Indian territories of Jammu and Kashmir and Ladakh have been, are and would remain an integral part of India,” said Srivastava. He added that Arunachal Pradesh is also an ‘integral part’ of the Indian territory and that this fact has been conveyed to the Chinese side on several occasions, including at the highest levels. According to him, China has ‘no local standard ‘to comment on India’s internal matters. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/pnb-yes-bank-central-bank-of-india-idbi-and-six-more-indian-banks-are-the-worst-performing-bank-stocks-in-asia-pacific/articleshow/78679569.cms">10 out of 15 worst-performing bank stocks in Asia-Pacific are Indian — PNB, YES Bank, Central Bank of India, IDBI among them</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-google-amazon-and-facebook-under-the-scanner-for-data-protection-violations-as-supreme-court-calls-on-rbi-and-npci-to-investigate/articleshow/78678174.cms">Whatsapp, Google, Amazon and Facebook under the scanner for data protection violations as Supreme Court calls on RBI and NPCI to investigate</a> <a href="https://www.businessinsider.in/defense/news/chinese-president-xi-jinping-tells-marine-troops-to-be-on-high-alert-and-prepare-for-war/articleshow/78675715.cms">Chinese President Xi Jinping tells marine troops to be on ‘high alert’ and ‘prepare for war’ as tensions in the South China Sea continue to grow</a>

Border infrastructure is not the cause of friction between India and China, says MEA spokesperson

<ul><li>India and China have agreed to resolve the border dispute along <keyword id="9262087" type="COMPANY" weightage="20" keywordseo="the-line-of-actual-control">the Line of Actual Control</keyword> (LAC) through bilateral means. </li><li>The both sides held talks between senior level military officers on Saturday, June 6.</li><li>The negotiations took place at the Border Personnel Meeting Point in Maldo on the Chinese side of the Line of Actual Control in Chushul sector. </li></ul>Indian and Chinese military commanders agreed to peacefully resolve the <keyword id="9359015" type="UNKNOWN" weightage="20" keywordseo="current-border-issue">current border issue</keyword> in <keyword id="2572623" type="ORGANIZATION" weightage="20" keywordseo="eastern-Ladakh">eastern Ladakh</keyword> in accordance with <keyword id="1103429" type="PERSON" weightage="20" keywordseo="bilateral-pacts">bilateral pacts</keyword> as well as the agreement reached between leadership of the two countries, <keyword id="9284269" type="COMPANY" weightage="20" keywordseo="the-external-affairs-ministry">the External Affairs Ministry</keyword> said on Sunday. The two sides held high-level military talks on Saturday in an attempt to resolve the month-long bitter standoff in mountainous eastern Ladakh. "Both sides agreed to peacefully resolve the situation in the border areas in accordance with various bilateral agreements and keeping in view the agreement between the leaders that peace and tranquillity in the India-China border regions is essential for the overall development of bilateral relations, the MEA said in a brief statement. The military talks took place at the Border Personnel Meeting Point in Maldo on the Chinese side of the Line of Actual Control in Chushul sector. "Both sides also noted that this year marked the 70th anniversary of the establishment of diplomatic relations between the two countries and agreed that an early resolution would contribute to the further development of the relationship," the MEA said. "Accordingly, the two sides will continue the military and diplomatic engagements to resolve the situation and to ensure peace and tranquillity in the border areas," it said. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/china-is-a-bully-says-us-representative-on-india-china-border-issue/articleshow/76147159.cms">China is a ‘bully’ says US Representative on India-China border issue</a> <a href="https://www.businessinsider.in/defense/news/experts-believe-that-the-india-china-border-dispute-is-unlikely-to-turn-into-another-war-like-the-one-in-1962/articleshow/76128454.cms">India and China are testing each other at the Ladakh border— but it won’t be another war like in 1962, according to experts</a> <a href="https://www.businessinsider.in/defense/news/india-china-border-dispute-beijing-sends-more-troops/articleshow/76060995.cms">China is reportedly adding troops on the Ladakh border⁠ and India is matching up to it</a>

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