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<ul><li><keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>’s MPC keeps <keyword id="6371181" type="General" weightage="20" keywordseo="interest-rates" source="Orion">interest rates</keyword> unchanged in the first policy of FY25.</li><li>Most experts had expected the RBI to maintain the status quo on interest rates.</li><li>A few, however, expected it to soften its hawkish forward guidance. </li></ul>The Indian central bank’s rate-setting panel, the <keyword id="6357126" type="General" weightage="20" keywordseo="monetary-policy" source="Orion">Monetary Policy</keyword> Committee (MPC), kept the repo rate unchanged at 6.5% on Friday. It remained focused on the withdrawal of accommodation in the first monetary policy of FY25. Both these decisions were taken with a majority of five to one. “Two years ago, around this time, when CPI inflation had peaked at 7.8% in April 2022, the elephant in the room was inflation. The elephant has now gone out for a walk and appears to be returning to the forest. We would like the elephant to return to the forest and remain there on a durable basis,” said Shaktikanta Das, governor of the Reserve Bank of India. The second advance estimate (SAE) placed real GDP growth at 7.6% for the recently concluded FY24 — the third successive year of 7 per cent or higher growth. RBI projects FY25’s real GDP growth at 7%. “Robust growth prospects provide the policy space to remain focused on inflation and ensure its descent to the target of 4%. Under these circumstances, monetary policy must continue to be actively disinflationary to ensure anchoring of inflation expectations and fuller transmission of the past actions,” said Shaktikanta Das, governor of the Reserve Bank of India. His speech pointed out that uncertainties in food prices continue to pose challenges especially as temperatures are expected to be above normal. The MPC remains vigilant to the upside risks to inflation that might derail the path of disinflation. “Elephant moves slowly, and last mile inflation tends to be sticky,” said Das at the RBI press conference. RBI sees FY25’s consumer price inflation (CPI) inflation, assuming a normal monsoon, at 4.5%. The RBI had repeatedly insisted that it intends to bring down retail inflation below 4%. “It is essential, in the best interest of the economy, that CPI inflation continues to moderate and aligns with the target on a durable basis. Till this is achieved, our task remains unfinished,” said Das pointing to frequent incidences of supply chain shocks. He also added that the crude oil price movements in the last few days. GDP growth &amp; inflation projections by RBI for FY25 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Time period </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;">Real GDP growth </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;">CPI inflation </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;">FY25 </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;">7% </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;">4.5% </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;">Q1 FY25 </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;">7.1% </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;">4.9% </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;">Q2 FY25 </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;">6.9% </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;">3.8% </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;">Q3 FY25 </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;">7% </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% </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;">Q4 FY25 </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;">7% </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;">4.5% </td></tr></tbody><tbody></tbody></table> Hot inflation keeping RBI in wait-and-watch mode say economists This is the seventh consecutive policy review cycle where the MPC has chosen to keep the repo rate unchanged at 6.5%. Most experts have been expecting the RBI to maintain the status quo. Its current decision, most say, is a balanced approach towards growth while being vigilant over headline inflation. “This careful stance reflects concerns over potential inflationary pressures arising from volatile food prices, recent upticks in oil prices, and robust economic growth. While there was some anticipation of rate cuts by the end of 2024, the RBI seems inclined to adopt a wait-and-see approach before initiating a rate cut cycle,” says Sujan Hajra, chief economist &amp; executive director at Anand Rathi Shares and Stock Brokers. Volatile food inflation in the last few months has been worrying economists. The ongoing heatwave combined with the persistent El Niño impact brings back worries about cereal and pulse price hikes. While the wheat crop has by and large been harvested, vegetable prices also pose an additional worry. The Indian Meteorological Department (IMD) has predicted higher-than-normal maximum temperatures across the country this summer. While core inflation has been softening, in the last few days, crude oil prices have inched up to cross $90 per barrel. "The monetary policy stance announced today reflects that the RBI is evenly balancing the two divergent objectives of growth and inflation. It seems a case of full commitment to growth with an even higher commitment to inflation targets. I hope we will see sustained growth and softened inflation,” Anu Aggarwal, president &amp; head of corporate banking, Kotak Mahindra Bank. The RBI governor’s stance on bringing down inflation has made economists delay their rate cut expectations as far as Q3 of FY25. The Bank of Japan has recently ended its negative interest rate policy and the US Fed has also delayed its much anticipated easing cycle. Most economists believe that RBI policy is pegged to the Fed, especially in the last two years, even as it formally targeted inflation. “External dynamics have been fluid, implying that the policy prerogative needs to be flexible for ensuring financial stability. We maintain the RBI’s tone will slowly tiptoe to ‘Gracklish’ from the usual ‘Hawk-Dove’ signaling, implying a non-committal stance and limited definite forward guidance ahead,” said Madhavi Arora, lead economist, Emkay Global Financial Services.

We want the elephant of inflation to walk back to the forest: Shaktikanta Das

<ul class="summary-list"><li>A family lost in an Oregon forest used the Emergency SOS feature on their iPhone to survive.</li><li>Search and rescue units were alerted by the distress call, The Chronicle reported.</li></ul>A <a target="_blank" href="https://www.chronline.com/stories/family-of-six-including-children-rescued-after-night-stranded-on-mount-hood,336892">family used an iPhone feature to survive</a> after they came lost in a freezing forest in Oregon, The Chronicle reports.High altitude and bad weather conditions left the six-year-old family stranded in the Mt. Hood National Forest."It appears they were lost and unable to find their way back in the heavy snow, as well as experiencing the effects of fatigue and exposure due to the weather conditions," said Brian McCall, a spokesperson for the Clackamas County Sheriff's Office, per The Chronicle.The family activated the Emergency SOS via satellite feature on their iPhone for help, and the Clackamas County Sheriff's Office received their distress signal at 7:30 p.m.<a target="_blank" href="https://www.businessinsider.com/guides/tech/emergency-sos-iphone">Apple's Emergency SOS feature </a>via satellite debuted with the iPhone 14 model. It lets iPhone 14 and 15 owners contact emergency responders even when completely out of cell signal range. The connects you to satellites above the Earth, which will then relay your messages and location to responders nearby.The family had set off on Tuesday's hike from the Salmon River Trailhead. Eight miles and 3,500 feet in elevation later, the group, which included two young children, found themselves battling adverse weather conditions and plummeting temperatures.Ground crews were equipped with all-terrain vehicles, but it took a search-and-rescue team until 6 a.m. the following morning, due to the snow, steep terrain, and fallen trees, to reach the group.A helicopter rescue attempt was unsuccessful due to the weather and terrain challenges.Rescuers found the family cold, wet, and dehydrated but otherwise unharmed, and getting them back from the remote location also proved difficult. Another ground crew, using a Snowcat vehicle, departed at 10 a.m. and reached the family several hours later.The family and rescuers were transported back to safety 24 hours after the initial SOS call.The easiest way to activate Apple's Emergency SOS feature is by holding the lock button and one of the volume buttons. When three sliders appear, you can swipe across the emergency call slider.It has already been credited with saving many lives. It<a target="_blank" class="editor-rtfLink" href="https://wpde.com/news/nation-world/woman-dog-rescued-after-being-swept-up-to-200-feet-down-mary-jane-canyon-from-flash-flood-satellite-phone-sos-grandy-county-utah-moab-classic-air-medical"> helped rescuers save a hiker and her dog</a> in August after flood waters swept the pair down a Utah canyon.In January, a student in Delaware was <a target="_blank" class="editor-rtfLink" href="https://www.cbsnews.com/philadelphia/news/delaware-students-apple-watch-saves-her-life-carbon-monoxide-poisoning/">saved from carbon monoxide poisoning thanks</a> to a last-minute use of Emergency SOS on her Apple Watch.It has already been credited with saving many lives. In August, <a target="_blank" href="https://wpde.com/news/nation-world/woman-dog-rescued-after-being-swept-up-to-200-feet-down-mary-jane-canyon-from-flash-flood-satellite-phone-sos-grandy-county-utah-moab-classic-air-medical">it helped rescuers save a hiker and her dog</a> after flood waters swept the pair down a Utah canyon.In January, a student in Delaware was <a target="_blank" href="https://www.cbsnews.com/philadelphia/news/delaware-students-apple-watch-saves-her-life-carbon-monoxide-poisoning/">saved from carbon monoxide poisoning thanks</a> to a last-minute use of Emergency SOS on her Apple Watch.

iPhone's SOS satellite feature helped rescue a family of hikers lost in a freezing Oregon forest, says report

Shimla, The Himachal Pradesh <keyword id="6355513" type="COMPANY" weightage="20" keywordseo="Cabinet">Cabinet</keyword> on Friday decided to keep all educational institutions shut till April 21 to prevent the spread of coronavirus. However, it decided to hold the '<keyword id="592706" type="PERSON" weightage="20" keywordseo="Jan-Manch">Jan Manch</keyword>', a once-in-a-month district-level public programme to redress grievances, on April 25. The Cabinet meeting, presided over by Chief Minister Jai Ram Thakur, decided that teaching and non-teaching staff, except those required for exam duties, will stay at home till April 21. Earlier, the educational institutes were closed till April 15. The Cabinet also decided to fill 311 posts of Forest Guard in the <keyword id="6356408" type="COMPANY" weightage="20" keywordseo="forest-department">Forest Department</keyword> on contract basis through direct recruitment. These include the already approved 113 posts of Forest Guard by the Cabinet on March 9, an official statement said. It also approved to fill 25 posts of Agriculture Development Officer on contract basis in the Agriculture Department through the Himachal Pradesh Public Service Commission against direct recruitment quota. A decision was taken to implement the Central sector scheme SVAMITVA in the state for surveying the land parcels in rural inhabited areas using drone technology. The <keyword id="6371460" type="COMPANY" weightage="20" keywordseo="revenue-department">Revenue Department</keyword> would be designated as the nodal department for implementation of this scheme with the support of the <keyword id="249700" type="COMPANY" weightage="20" keywordseo="panchayati-raj-department">Panchayati Raj Department</keyword>. A memorandum of understanding would be signed with the <keyword id="183581" type="COMPANY" weightage="20" keywordseo="Survey-of-India">Survey of India</keyword> for launching the scheme. In the meeting, the Jal Shakti Department apprised the Cabinet on the prevailing drought situation in the state. It was decided to hold a review meeting under the chairmanship of the Chief Minister for further action in the matter. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nokia-x20-specifications-nokia-new-phones-price-in-india/articleshow/81981039.cms">Six new Nokia smartphones announced – price, specifications and availability details you should know</a> <a href="https://www.businessinsider.in/business/startups/news/founders-take-note-heres-why-most-startups-fail/articleshow/81981138.cms">Founders, take note: here’s why most startups fail</a> <a href="https://www.businessinsider.in/tech/apps/news/google-phone-app-now-lets-you-record-calls-automatically-from-unknown-numbers/articleshow/81982791.cms">Google Phone app now lets you record calls automatically from unknown numbers</a> <a href="https://www.businessinsider.in/business/startups/news/adar-poonawalla-serum-institute-of-india-has-bought-stake-policybazaar/articleshow/81985425.cms">Serum Institute of India buys into IPO-bound insurance unicorn PolicyBazaar, as True North sells part stake in secondary sale</a>

Himachal Pradesh schools and colleges to remain shut till April 21 amid rising COVID-19 cases

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We want the elephant of inflation to walk back to the forest: Shaktikanta Das

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iPhone's SOS satellite feature helped rescue a family of hikers lost in a freezing Oregon forest, says report

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Himachal Pradesh schools and colleges to remain shut till April 21 amid rising COVID-19 cases

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