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The government of Telangana has deposited ₹7,411.52 crore into the bank accounts of 62.99 lakh farmers in the state so far under the <keyword id="6423211" type="General" weightage="100" keywordseo="rythu-bandhu" source="Orion">Rythu Bandhu</keyword> scheme for the coming Rabi season. The investment support under the state's flagship scheme will cover 1,48,23,000 acres across the state, said Agriculture Minister <keyword id="11983590" type="General" weightage="20" keywordseo="s-niranjan-reddy" source="Orion">S. Niranjan Reddy</keyword>. Among the districts, Nalgonda received the highest assistance of ₹601.74 crore, benefitting 4,69,696 farmers. <keyword id="8596137" type="General" weightage="20" keywordseo="medchal-malkajgiri" source="Orion">Medchal Malkajgiri</keyword> district adjoining Hyderabad received the least assistance of ₹33.65 crore. The amount was deposited in the accounts of 33,452 farmers. Under Rythu Bandhu, the government credits ₹5,000 per acre into the farmers' bank accounts before the beginning of every crop season. For the Rabi season, the disbursement target is ₹7,646 crore. The authorities began depositing the amount in the farmers' accounts in the last week of December. When the scheme was launched in 2018, the state government was providing ₹8,000 per acre per year (for both Rabi and Kharif seasons). The amount was enhanced to ₹10,000 from 2019. On January 10, the cumulative assistance provided under the scheme touched the ₹50,000 crore mark. <keyword id="180385" type="General" weightage="20" keywordseo="niranjan-reddy" source="Orion">Niranjan Reddy</keyword> said Rythu Bandhu, the brainchild of Chief Minister <keyword id="11934689" type="General" weightage="20" keywordseo="k-chandrasekhar-rao" source="Orion">K. Chandrasekhar Rao</keyword>, is proving a boon for farmers and it has helped transform agriculture in the state. He claimed that no other state in the country is implementing such a scheme for the welfare of farmers. He demanded that the Central government announce a national policy for the welfare of farmers. Stating that farmers were facing a lot of problems due to shortage of farm labourers, Niranjan Reddy reiterated the demand that the Central government should link National Rural Employment Guarantee Scheme (NREGS) with the agriculture sector. He said the state governments should fix the Minimum Support Price (MSP) considering the crop cultivation and other factors in their respective regions and the Centre should procure the entire produce at MSP. He said it was unfortunate that the Centre was doing nothing except declaring MSP and demanded the Union government to implement recommendations of the Swaminathan Committee. "The Centre should bring a change in its approach towards agriculture as 60 per cent of the country's population is dependent on this sector," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/india-successfully-test-fires-new-version-of-brahmos-missile/articleshow/89016230.cms">India successfully test fires new version of Brahmos missile</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cesl-launches-biggest-ever-tender-worth-5500-crore-for-5580-electric-buses/articleshow/89016097.cms">CESL launches biggest ever tender worth ₹5,500 crore for 5,580 electric buses</a>

Rythu Bandhu scheme - Telangana government deposits ₹7,400 crore into the bank accounts of 62 lakh farmers

Telugu film star Ram Charan on Tuesday said he has tested positive for the novel coronavirus and is under home quarantine. The 35-year-old actor took to Twitter to share his diagnosis. "I have tested positive for Covid-19. No symptoms and quarantined at home. Hope to heal soon and come out stronger," Charan said in a statement. He urged all the people, who have been around him in the the past couple of days, to get tested. "More updates on my recovery soon," he added. On work front, Charan will be seen in writer-director S S Rajamouli's next film "Rise Roar Revolt" ("RRR"). The "Baahubali" fame director resumed shooting on his most talked about Telugu movie in Hyderabad in October with necessary safety precautions amid the coronavirus pandemic, nearly seven months after the filming was halted. The <keyword id="6402008" type="UNKNOWN" weightage="20" keywordseo="period-action-drama">period action drama</keyword> narrates a fictional tale based on the lives of two freedom fighters in the early 20th century -- Alluri Sitarama Raju and Kumram Bheem, played by Ram Charan and N T <keyword id="10511248" type="PERSON" weightage="20" keywordseo="rama-rao-jr-">Rama Rao Jr.</keyword> Produced by <keyword id="6711107" type="COMPANY" weightage="20" keywordseo="dvv-entertainments">DVV Entertainments</keyword>, "RRR" also stars Bollywood superstar Ajay Devgn in a pivotal role and marks debut of Alia Bhatt in South cinema. The film was earlier slated to hit cinema halls on January 8, 2021 but has been deferred to a later date due to COVID-19. Charan will also be seen playing a supporting role in Telugu action drama film "Acharya", directed by <keyword id="820857" type="PERSON" weightage="20" keywordseo="Koratala-Siva">Koratala Siva</keyword>. Produced by Charan and <keyword id="180385" type="LOCATION" weightage="20" keywordseo="Niranjan-Reddy">Niranjan Reddy</keyword> under <keyword id="10511247" type="COMPANY" weightage="20" keywordseo="the-konidela-production-company">the Konidela Production Company</keyword> and Matinee Entertainments banners, the film stars Chiranjeevi and Kajal Aggarwal in the lead roles. KKP SHD SHD

Telugu actor Ram Charan tests positive for COVID-19

<ul><li>Only three of the top 10 richest <keyword id="17493701" type="General" weightage="20" keywordseo="real-estate-billionaires" source="Orion">real estate billionaires</keyword> from India saw their wealth rise in the last one year. </li><li>Commercial real estate entrepreneurs from the list cumulatively added ₹3,000 crore of new wealth. </li><li>Almost 40% of the new entrants in the Grohe-Hurun India Real Estate <keyword id="470320" type="General" weightage="20" keywordseo="rich-list" source="Orion">Rich List</keyword> 2023 hail from Tier-2 cities. </li></ul>With a personal wealth of ₹59,030 crore, DLF’s <keyword id="136173" type="General" weightage="20" keywordseo="rajiv-singh" source="Orion">Rajiv Singh</keyword> is India’s richest real estate billionaire despite losing 4% of his wealth in the last one year, as per Hurun latest list released on Tuesday. <keyword id="875899" type="General" weightage="20" keywordseo="mangal-prabhat-lodha" source="Orion">Mangal Prabhat Lodha</keyword> and family takes the second spot on the Grohe-Hurun India Real Estate Rich List 2023 even after losing 20% in one year. In fact, only three of the top 10 richest real estate billionaires from India saw their wealth rise in the last one year — Chandru Raheja and family, Niranjan Hiranandani and Vikas Oberoi. The entire list has 100 individuals from 67 companies and 61% of them saw their wealth increase in the last one year. The cumulative wealth of the entrepreneurs featured in the Grohe-Hurun India Real Estate Rich List 2023 has witnessed a 4% increase compared to an 18% decline in the BSE Realty Index. The real estate sector, which has seen its ups and down before and after the pandemic — has had an effect on the wealth of billionaires in the sector. The entry point to the top 10 surged from ₹3,350 crore in 2017 to a staggering ₹15,000 crore now. Similarly, the threshold to make it to the top 50 has risen from ₹660 crore in 2017 to ₹1,300 crore at present. Top 10 real estate billionaires of India <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;">Top billionaires </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;">Wealth </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;">Company </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;">Rajiv Singh </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;">₹59,030 crore </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;">DLF </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;">Mangal Prabhat Lodha &amp; family </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;">₹42,270 crore </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;">Macrotech Developers </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;">Arjun Menda &amp; family </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;">₹37,000 crore </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;">RMZ </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;">Chandru Raheja &amp; family </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;">₹26,620 crore </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;">K Raheja </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;">Niranjan Hiranandani </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;">₹23,900 crore </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;">Hiranandani Communities </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;">Jitendra Virwani </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;">₹23,100 crore </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;">Embassy Office Parks </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;">Vikas Oberoi </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;">₹22,970 crore </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;">Oberoi Realty </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;">Basant Bansal &amp; family </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;">₹16,110 crore </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;">M3M India </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;">Raja Bagmane &amp; family </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;">₹16,100 crore </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;">Bagmane Developers </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;">Gavva Amarender Reddy </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;">₹15,000 crore </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;">GAR Corporation </td></tr></tbody></table> Source: Grohe-Hurun India Real Estate Rich List 2023 The Tier-2 story The real estate sector has been creating wealth and churning out new billionaires — a quarter of the list comprises new entrants. Anas Rahman Junaid, Hurun India managing director and chief researcher, said that the stories about real estate tracked through the list indicate the dynamic nature of the sector “A quarter of the list has been purged and replaced over the last year. Moreover, since its inception (in 2017), an astounding 50% of the list has witnessed the emergence of fresh faces, reflecting the ever-evolving landscape of this thriving industry,” said Junaid. New sectors have also been emerging with immense growth in the office, retail and commercial real estate segments. In the list, commercial real estate entrepreneurs cumulatively added ₹3,000 crore of new wealth, indicating the resurgence of the sector in India. Also, wealth in real estate is also moving beyond Tier-1 cities. Entrepreneurs hailing from Tier-2 cities are forging some of the most impactful real estate enterprises in the nation. “Almost 40% of the new entrants in Grohe-Hurun Real Estate Rich List 2023 hail from Tier-2 cities. This highlights the fact that geographic boundaries no longer limit the rise of influential real estate players in India. Notably, a staggering 60% of the list entrants have already expanded beyond their primary locations, to build pan-India real estate brands," said Junaid. A lot of the <keyword id="6062679" type="General" weightage="20" keywordseo="real-estate-wealth" source="Orion">real estate wealth</keyword> also comes from the West – Maharashtra and Gujarat account for 40% of the cumulative wealth of the list. This is followed by all the five Southern states, which account for 34%. The North region consisting of Delhi, Haryana and Punjab are third with a 25% share. Real estate wealth creation, however, is not a young person’s game. The average age of billionaires on the list is 63. The youngest on the list is 45-year-old KV Satish of DS Max Properties, and the oldest is 94-year-old Prithvi Raj Singh Oberoi of East India Hotels.

The West side story: Maharashtra, Gujarat account for 40% of wealth on Hurun India’s real estate rich list

Hyderabad, Buses of state-owned Road Transport Corporation in <keyword id="68884" type="LOCATION" weightage="20" keywordseo="Telangana">Telangana</keyword> went off road on Tuesday amid growing <keyword id="6367209" type="UNKNOWN" weightage="20" keywordseo="support">support</keyword> for farmers groups-called <keyword id="6379373" type="ORGANIZATION" weightage="20" keywordseo="bharat-bandh">Bharat Bandh</keyword> that received support from all parties in the state except the BJP. With employee unions of Telangana State Road Transport Corporation (TSRTC) backing the shutdown call, buses were confined to depots. <keyword id="3614635" type="PERSON" weightage="20" keywordseo="mahatma-gandhi-bus-station">Mahatma Gandhi Bus Station</keyword> and Jubilee Bus Station, two biggest and busiest bus stations in Hyderabad, wore a deserted look. Some commuters who reached the bus stations early morning to board buses to their destinations were seen returning disappointed. Most of the cabs and auto-rickshaws also went off the roads as the unions of taxi and auto drivers backed <keyword id="10393033" type="LOCATION" weightage="20" keywordseo="the-bharat-bandh">the Bharat Bandh</keyword> in support of the demand by farmers' groups asking for rollback of the new farm legislations by the central government. With the ruling Telangana Rashtra Samithi (TRS) declaring total support to the bandh, it is likely to evoke good response across the state. Opposition Congress, Left and other parties, farmers' and people's organizations and trade unions are also backing the protest. Ministers, MPs, state legislators and other public representatives will be participating in protests across the state. Chief Minister and TRS president K. Chandrasekhar Rao has appealed to party cadres to make the bandh a total success. TRS has called upon its leaders to stage road blockades on highways to show solidarity with agitating farmers. Backing the struggle by farmers against the three farm laws, Rao said the laws adversely impacted their interests. It was precisely because of that the TRS opposed the Bills in Parliament, he said and stressed the need for the agitation to continue until they were repealed. Rao's son, cabinet minister and TRS working president K. T. Rama Rao will be leading the protest at Borgula on Hyderabad-Bengaluru national highway. The chief minister's daughter and member of legislative council K. Kavitha will lead rasta rook near Kamareddy. Home minister Mohammed Mehmood Ali, finance minister Harish Rao, agriculture minister Niranjan Reddy and other ministers will also lead the protests on highways. K. T. Rama Rao Mr. Rao urged owners of shops and business establishments to reopen their premises after 12 noon. He also wanted transport companies to resume their operations only in the afternoon. Dubbing the new farm legislation as 'black laws', Rama Rao called for raising a unified voice against a conspiracy to hand over the farm sector to the corporate entities and make farmers labourers at the hands of the big corporate players Leaders and workers of Congress, CPI, CPI (M), other Left parties will also stage protests. Telangana Non Gazetted Officers Union also extended support to the nationwide bandh call. Welfare Party of India, Jamaat-e-Islami, Student's Islamic Organization (SIO), Jamiatul Ulema and several other groups have also announced support to the shutdown. Director General of Police M. Mahender Reddy directed police officials to take all preventive steps to maintain law and order in view of the bandh call. "It has also been instructed that none should be allowed to take law in their hand," said a statement from DGP's office. Cyberabad police has issued a traffic advisory in view of the bandh. Several protests might be held at various places, including on roads and junctions in and around the city, affecting regular movement of traffic, Deputy Commissioner of Police (Traffic) S.M. Vijay Kumar said. People going to Rajiv Gandhi International Airport are advised to take the Outer Ring Road (ORR) and plan their travel accordingly, he said. Free passage for emergency services and ambulances will be ensured on all roads. Osmania University and Jawaharlal Nehru Technological University-Hyderabad have postponed the examinations scheduled for Tuesday. The exams would be held later. BJP has opposed the bandh call. Party's state union leader appealed to farmers and citizens at large not to support what they call 'sarkari bandh'. They also appealed to people not to fall into the political trap of the opposition parties. Union minister of state for home G. Kishan Reddy said it was unfortunate that a state government has officially declared that it is supporting the bandh. He urged the farmers not to mortgage their interests by believing the TRS and other opposition parties on the propaganda unleashed against the three farm laws. SEE ALSO: <a href="https://www.businessinsider.in/india/news/petrol-is-less-than-a-rupee-away-from-being-more-expensive-than-it-has-ever-been-for-indian-consumers/articleshow/79601841.cms">Petrol is less than a rupee away from being more expensive than it has ever been for Indian consumers</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ongc-hdfc-bank-nmdc-pfizer-spicejet-indigo-irctc-tata-chemicals-and-others/articleshow/79602525.cms">Top stock movers — ONGC, HDFC Bank, NMDC, Pfizer, SpiceJet, IndiGo, IRCTC, Tata Chemicals, and others</a> <a href="https://www.businessinsider.in/stock-market/news/adani-ports-hits-52-week-high-brokerages-bullish-on-faster-than-expected-krishnapatnam-port-turnaround/articleshow/79604999.cms">Adani is making 68% margin from one of its ports – the stock has doubled since lockdown</a>

Bharat Bandh: Bus movement affected in Telangana as TSRTC backs shutdown

New Delhi, Mar 27 () A slew of measures announced by the RBI on Friday would help mitigate the impact of coronavirus-related lockdown on businesses, the industry said. The industry said that the steps would help push lending rates down, encourage banks to infuse money into productive sectors, infuse liquidity and address the financial stress in the system. The RBI on Friday allowed banks to put on hold EMI payments on all term loans for three months and cut interest rate by the steepest in more than 11 years as it joined the government efforts to rescue a slowing economy that has now got caught in coronavirus whirlwind. The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across the banking system. "The current situation in the economy and financial markets is extremely fragile and it required a massive dose of monetary stimulus to be injected at the earliest. The RBI has done just that. This should help lift the spirit of economy, " Ficci President Sangita Reddy said. "This, together with a host of other measures to boost liquidity will address the financial stress in the system on account of the COVID-19 outbreak and the consequent lockdown. The substantial reduction in the CRR will help banks to reduce their lending rates and aid monetary transmission, " CII Director General Chandrajit Banerjee said. Assocham President Niranjan Hiranandani said these measures, including reducing the cost of borrowing and reduction in the CRR would ensure India's financial stability at a time when there is heightened volatility in the global financial markets, with a desperate rush towards security. Cyril Shroff, Managing Partner at Cyril Amarchand Mangaldas said: "The RBI has unleased a bazooka to deal with the economic pain and uncertainty prevailing in the wake of the COVID crisis. Acting swiftly and decisively, the RBI has used several levers to increase liquidity in the system". PHD Chamber President D K Aggarwal said these measures will provide adequate liquidity in the system, bring down the cost of capital and mitigate the impact of pandemic COVID-19. The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor. RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune. It all depends how India responds to the situation, he said. Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production. Aggregate demand may weaken and ease core inflation further, he noted. After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation. The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown. While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus. RSN MR

RBI steps to help mitigate impact of coronavirus lockdown on biz: Industry

These 119 Indian billionaires are worth over $300 billion right now, according to Forbes

Narendra Modi, who led the BJP-led National Democratic Alliance (NDA) to a spectacular victory in the 2019 Lok Sabha elections, on Thursday took oath as the Prime Minister. President Ram Nath Kovind administered the oath of office and secrecy in Hindi to Modi at a ceremony attended by thousands of people at the forecourt of Rashtrapati Bhavan Sushma Swaraj, Suresh Prabhu, V.K. Singh, Mahesh Sharma, Jayant Sinha and Rajyavardhan Singh Rathore were among the Union Ministers missing from the dais for ministers to be inducted in the new Modi government. Here’s a list of all the ministers who will be joining the new government : <ul><li>Amit Shah</li><li>Ravi Shankar Prasad</li><li>Piyush Goyal</li></ul>In the first government of Prime Minister Narendra Modi formed in 2014, Goyal has handled important ministries -- first as a junior independent Minister in key economic drivers like Coal, Power and New and Renewable Energies and later as Cabinet Minister for Railways and briefly for Finance and Corporate Affairs. <ul><li>Smriti Irani</li></ul>Bharatiya Janata Party leader Smriti Irani, defeated Gandhi with margin of 55,120 in the bitterly contested high profile seat, which has fetched nation's attention. <ul><li>Nirmala Sitharaman</li><li>Kiren Rijiju</li></ul> Kiren Rijiju has been the face of the Bharatiya Janata Party (BJP) in the northeastern states. He defeated former Arunachal Pradesh Chief Minister Nabam Tuki by a margin of 1,74,843 votes. While he got 63.02 per cent votes, Tuki could get only 14.22 per cent of votes. <ul><li>Rajnath Singh</li><li>Nitin Gadkari</li></ul>In the first term of Prime Minister Narendra Modi, Gadkari handled crucial and high-visibility infrastructure-related portfolios like Road Transport &amp; Highways, Shipping, etc and made his indelible mark there. <ul><li>Dharmendra Pradhan</li><li>Dr Harshavardhan</li><li>S Jaishankar</li></ul>Former Foreign Secretary S. Jaishankar, who played a key role in shaping the foreign policy of Prime Minister Narendra Modis first term, induction in the Council of Ministers marks a recognition of the exceptional work of what he did in the Foreign Ministry. The 64-year-old Indian Foreign Service (IFS) officer on Thursday took oath as a Cabinet Minister though he is not a member of either House of Parliament. <ul><li>Krishan Pal Gurjar</li><li>Shripad Naik</li><li>Narendra Singh Tomar</li><li>Rao Inderjit Singh</li><li>VK Singh</li><li>Arjun Ram Meghwal</li><li>Ram Vilas Paswan</li><li>Harsimrat Kaur</li></ul>Harsimrat Kaur Badal, who held the portfolio of Food Processing Industry in the previous Modi-led central government, got a Union cabinet berth for a second term on Thursday <ul><li>DV Sadananda Gowda</li></ul>DV Sadananda got elected for the second time from the prestigious Bangalore North seat in the 2019 Lok Sabha polls. He became the Union Minister for the first time in May 2014 in the NDA-1 government. <ul><li>Babul Supriyo </li><li>Prakash Javadekar</li></ul>During the first term of Prime Minister Narendra Modi, Javadekar served first as a junior minister handling several portfolios - Parliamentary Affairs, and later Information and Broadcasting, and also Environment, Forest and Climate Change (both ministries as independent charge). In the 2016 cabinet reshuffle, he earned the trust of Modi and was allotted the critical Human Resource and Development Ministry and has contributed hugely to the development, improvement and streamlining of various educational systems in the country. <ul><li>Ramdas Athavale</li><li>Jitender Singh</li><li>Niranjan Jyoti</li><li>Parshottam Rupala</li><li>Thawar Chand Gehlot</li><li>Rattan Lal Kataria </li><li>Ramesh Pokhriyal Nishank</li><li>RCP Singh </li><li>G Kishan Reddy </li></ul>G. Kishan Reddy, who was sworn in as Union minister on Thursday, is one of the prominent faces of the BJP in Telangana. A three-time MLA, Kishan Reddy is a first-term MP from Secunderabad, one of the Lok Sabha constituencies in Telangana state capital Hyderabad. <ul><li>Suresh Angadi </li><li>A Ravindranath </li><li>Kailash Choudhary </li><li>Pralhad Joshi </li></ul>Pralhad Joshi won the Dharwad Lok Sabha constituency in northwest Karnataka for the fourth time in a row in the just-concluded general elections. <ul><li>Som Parkash</li></ul>Seventy-year-old former Indian Administrative Service officer of Punjab cadre Som Parkash is the Dalit face of the Bharatiya Janata Party (BJP) in Punjab.He is one of the new faces in the Prime Minister Narendra Modi government. The first-time Member of Parliament from Hoshiarpur (reserved) defeated his nearest Congress rival Raj Kumar Chabbewal by 93,898 votes <ul><li>Rameshwar Teli </li><li>Subrat Pathak </li><li>Deboshree Choudhury </li><li>Rita Bahuguna Joshi</li><li>Ram Vilas Paswan </li></ul> In active politics for over five decades now, Lok Janshakti Party (LJP) chief Ram Vilas Paswan is one of the more prominent Dalit faces in the BJP-led NDA. <ul><li>Arvind G Sawant</li></ul>Arvind G. Sawant, 68, is the Shiv Sena's third Union minister (after Manohar Joshi and Suresh Prabhu) hailing from Mumbai, the city where the party was born, the country's commercial and glamour capital, from where he is now elected for a second term from the prestigious Mumbai South Lok Sabha constituency. (With IANS)

Meet the new cabinet ministers in the Modi government 2.0

<ul><li>Singer Babul Supriyo, the BJP MP from Asansol in West Bengal swears into Modi’s cabinet. Sadhvi Niranjan Jyoti from Fatehpur in Uttar Pradesh was also sworn in as a Minister of State.</li><li>Former Power and Railways Minister Dr Arvind Sawant from Mumbai South who defeated Milind Deora of Congress too has taken oath. </li><li>Among those who have taken oath include Thawar Chand Gehlot, S Jaishankar (former Foreign Secretary), Ramesh Pokhriyal, Arjun Munda, Dr Harsh Vardhan (former Science Ministry), Prakash Javadekar (former HRD minister), and Piyush Goel (former coal minister).</li><li>Narendra Modi has taken charge as the Prime Minister of the country for the second time in a swearing in ceremony that just concluded.</li></ul> Update at 09:05 pm Debut MP Debasree Chaudhuri of Raiganj in West Bengal takes oath as Minister of State in Modi’s cabinet. Sanjeev Balyan, Dhotre Sanjay Shamrao, Anurag Singh Thakur from Hamirpur, Suresh Angadi, Nityanand Rai, Rattan Lal Kataria, V Muraleedharan, Renuka Singh Saruta, Som Prakash, Rameshwar Teli, Pratap Sarangi, Kailash Chaudhari, Debasree Chaudhuri were also sworn in as Ministers of State. Update at 08:30 pm Ramdas Athawale from Maharashtra’s Sangli district was sworn in as Minister of State, along with Parshottam Rupala. Update at 08:25 pm Secunderabad BJP MP Kishan Reddy takes oath. Ashwini Kumar Choubey, Shri Arjun Ram Meghwal, Gen V K Singh, Krishan Pal Gurjar from Faridabad, and Raosaheb Danve too were sworn in. Update at 08:10 pm Prahlad Patel, Raj Kumar Singh from Arrah constituency, Hardeep Singh Puri, Mansukh Mandavia, Faggan Singh Kulaste also take oath. Update at 08:02 pm Shripad Yesso Naik from North Goa is inducted into Modi’s cabinet. Dr Jitendra Singh, the current MP of Haridwar is also sworn in. Update at 08:00 pm Rao Inderjit Singh BJP’s MP from Gurugram, Gajendra Singh Shekhawat, Santosh Kumar Gangwar from Bareily in Uttar Pradesh were sworn in. Update at 07:55 pm Giriraj Singh from Bihar’s Begusarai who defeated Kanhaiya Kumar, the former student leader and a candidate of Communist Party of India (CPI) was also sworn in. Update at 07:50 pm Former Power and Railways Minister Dr Arvind Sawant, Shiv Sena MP from Mumbai South who defeated Milind Deora of Congress too has taken oath. Dr Mahendra Nath Pandey, former Petroleum Minister Dharmendra Pradhan, Mukhtar Abbas Naqvi (former Minority Affairs Minister), Pralhad Joshi, too have taken oath. Update at 07:40 pm Piyush Goel and Prakash Javadekar take the oath. Update at 07:35 pm Smriti Irani who won at Amethi against Congress Party leader Rahul Gandhi as its MP, also took oath to cheering public. She was the textiles minister in the earlier cabinet. Update at 07:25 pm Narendra Singh Tomar (formerly Rural Development Minister, Ravi Shankar Prasad (former Telecom and Law Minister); Harsimrat Kaur Badal (former food processing minister) too have taken oath. Update at 07:19 pm Ram Vilas Paswan also takes the oath of office and secrecy. Update at 07:16 pm Incumbent Defence Minister Nirmala Sitharaman also takes the oath. Update at 07:12 pm Shri Rajnath Singh follows Modi to take oath. He was home affairs minister in the last cabinet. Bharatiya Janata Party (BJP) President Amit Shah has also taken oath. He did not hold a portfolio in the last cabinet Update at 07:07 pm Narendra Modi takes charge as India’s PM for the second time Update at 07:00 pm <keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-narendra-modi">Prime Minister Narendra Modi</keyword> has also arrived at the event. As many as 50 ministers of the cabinet will take oath after the PM today. The ceremony will start at 7 PM. Bollywood actor Shahid Kapoor and Kangana Ranaut have already arrived at the event at Rashtrapati Bhavan. Bangladesh President Abdul Hamid along with his first lady too arrived at the event. Update at 06:30 pm Dignitaries and top industrialists like Ratan Tata, Mukesh Ambani and Gautam Adani; along with Bharatiya Janata Party (BJP) President Amit Shah have already arrived at the venue, to view Narendra Modi take the oath as the Prime Minister for the second time. It’s a big day for India and Narendra Modi who will once again take oath as India’s Prime Minister for a second consecutive term. The master communicator, who has stormed back to power with yet another thumping majority, will once again use the moment and the stage as effectively as it can be. The oath taking ceremony will be held at 7 pm on Thursday (May 30), ensuring that all the attention of prime time television viewers are solely on him. He gave <a href="https://www.businessinsider.in/full-text-of-modi-speech-lok-sabha-election-2019/articleshow/69467611.cms" data-type="tilCustomLink" target="_blank">over an hour long victory speech</a>, again on prime time, after the election results were declared on May 23. Run up to the event Modi has kickstarted his oath-taking day, early this morning by saluting his heroes. He paid a tribute at the National War Memorial in the morning. The PM from Guajrat won a second consecutive term with a thumping majority, also paid tribute to Bharatiya Janata Party (BJP)’s prominent former Prime Minister, Atal Bihari Vajpayee. This charismatic former Prime Minister was instrumental in creating the National Democratic Alliance (NDA) in 1998. Modi who hails from Gandhinagar which was also home to father of the nation, Mahatma Gandhi, also visited Rajghat today to pay homage. The newly elected PM’s oath taking ceremony promises to be interesting as <a data-type="tilCustomLink">8,000 guests</a> from within and outside the country are expected to pour in for the event. It is being touted as the biggest ever event that takes place at Rashtrapathi Bhavan. The event also promises to be star-studded as many Bollywood celebrities including Vivek Oberoi who played the role of Modi, in a now-released movie ‘Modi’, are expected to attend the event. Invites have also gone in for <a data-type="tilCustomLink">BIMSTEC leaders</a>—which includes Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal and Bhutan. However, it is now known that leaders from Kyrgyzstan and Mauritius will be attending the event. The swearing in ceremony is striving to make Modi’s guests from his constituency in Varanasi feel special. A special gallery called ‘Kashi Sankul’ is being set-up to accommodate 250 special guests from Uttar Pradesh. The event however is not without its controversies. The winning party BJP invited the families of those killed in the West Bengal political violence which erupted just before the last phase of polling. This move angered Mamata Banerjee the chief minister of the state and the head of Trinamool Congress, who declined an invitation to the attend the ceremony. BJP’s ally in Maharashtra, Shiv Sena slammed Banerjee for this move, in an editorial published in its mouthpiece Saamna. SEE ALSO: <a href="https://www.businessinsider.in/modis-swearing-in-ceremony-is-set-to-be-the-biggest-event-ever-with-8000-guests/articleshow/69571352.cms" data-type="tilCustomLink" target="_blank">Modi's swearing in ceremony is set to be the biggest event ever, with 8,000 guests</a> <a href="https://www.businessinsider.in/full-text-of-modi-speech-lok-sabha-election-2019/articleshow/69467611.cms" data-type="tilCustomLink" target="_blank">Full text of Modi’s first speech after historic election victory</a>

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