The Reserve Bank of India (RBI) finally announced the Credit Policy. All key rates including the CRR, repo rate and reverse repo rate were kept unchanged. The GDP growth forecast was lowered to 7.5%. The RBI admitted that moderating growth remains a concern. the Central Bank expects resumption of export growth during the next quarter.

It also hopes that net capital flow will meet the external financial requirements. The RBI has decided to enhance liquidity if pressure on the market persists. Here are the key features of RBI’s Credit Policy:

  • All key rates including CRR, repo rate and reverse repo rate unchanged
  • SLR norms unchanged
  • GDP Growth Forecast lowered to 7.5%
  • Inflation target was unchanged at 7%
  • Credit Growth target lowered to 20% from 29%


In a shocking development, former Australian cricketer Adam Gilchrist, who can’t even be compared with the great Sachin Tendulkar, accused him of lying during the Sydney Test to save his team mate Harbhajan Singh.

In his latest autobiography, “True Colors of My Life”, Adam Gilchrist has called Sachin Tendulkar “dishonest”, “liar” and “bad sport”. It could be a publicity stunt by Gilchrist to gain publicity for his book

The Indian Rupee continued to slide further, as it opened at an all-time-low of 50.15 against the US Dollar. Yesterday, it was closed at 49.81 against the USD. For the first time in history, the Rupee breached the psychological barrier of 50.00, causing panic in the market. As the trading progresses today, Rupee is feared to dip further.

Angry students protesting against Maharashtra Navnirman Sena (MNS) and its chief Raj Thackeray, set Motihari Railway Station on fire. Ironically, the mob fury was so high that GRP (Government Railway Police), RPF (Railway Protection Force) and police personnel fled from the spot, leaving the Railways Station at the mercy of rampaging students.

Later, CRPF intervened and fired several rounds in the air to disperse the mob. The CRPF personnel had to resort to lathicharge and lobbed teargas shells to control the mob violence. Railway properties have been attacked elsewhere in Bihar for the third consecutive day. According to Railways, properties worth Rs. 5 – 7 crore have been destroyed by angry students.

Several Bihar-bound trains including Rajdhani, Sampark Kranti and others have been cancelled, causing high inconvenience to the passengers. The passengers are not even able to get correct information regarding the cancellation, departure or reschedule of trains.

Even as the global economy has reached a bottom low, the Asia-Europe meeting will begin in Beijing to discuss important issues including the economic cooperation. India makes its debut at the ASEM with Prime Minister Dr. Manmohan Singh (an Economist himself) representing India.

Dr. Manmohan Singh is expected to provide vital suggestion on how to handle the global economic crisis. The ASEM has 45 countries with China taking the centre stage. The ASEM group includes 27 EU countries, the European Commission, ASEAN (10 countries), India, Pakistan, Mongolia and ASEAN Secretariat.

A sport-loving country of over 1.3 billion people and great cricketers across the world are outraged over the latest remarks made by former Australian wicket keeper Adam Gilchrist. Adam Gilchrist, who was considered as a “saint” in modern day cricket, called legendary Sachin Tendulkar as “dishonest” and “bad sport” in his latest autobiography, “True Colours My Life” which will be released next week.

In his book, “True Colours of My Life”, Adam Gilchrist showed his true colours by raking up the racism row between Harbhajan and Symnonds during the Sydney Test. He accused Sachin Tendulkar of lying and being dishonest. According to Adam Gilchrist, Harbhajan Singh had made a racial remark against Andrew Symonds, but was let off with mild punishment only because of Sachin Tendulkar’s “false testimony”.

Adam Gilchrist, who retired from test cricket recently, not only questioned Sachin Tendulkar’s honesty, but also criticised Harbhajan, Indian team, Indian Board (BCCI) and Australian Board (Cricket Australia) over this issue. Gilchrist’s latest tirade against Sachin Tendulkar has upset millions of cricket fans across the globe. Since Gilchrist is the skipper of Hyderabad Deccan Chargers in the IPL, it would be interesting to see, what price he will have to pay for his “irresponsible” and “condemnable” outburst against a legend, who has nothing to prove in cricket.
 
Pakistan fast bowler Mohammad Asif has been arrested at the Dubai International Airport for carrying contraband drugs in his luggage.

The pacer, who was on his way back to Pakistan from Mumbai via Dubai after a stint in the Indian Premier League, was detained on Sunday.

Due to the hectic efforts of the Pakistan Cricket Board, he is due to appear before a magistrate on Tuesday in Dubai and is expected to be granted bail, sources said.

* Shoaib Akhtar, Mohd Asif test positive for drugs

“He was arrested and detained on Sunday at the airport by custom officials. The board came to know about the issue only on Monday and since then has been busy seeking help of influential officials in Dubai to get the bail for him,” the source said.

He said former Pakistan player and Director of National Cricket Academy Mudassar Nazar, who is in Dubai, has been asked to help out in the case.

It is the second drug scandal involving Asif, who along with Shoaib Akhtar, tested positive for banned anabolic steroids before the 2006 Champions Trophy in India.

They were initially banned for two years by a drugs inquiry tribunal but later the ban was removed on appeal by an appellate tribunal formed by the PCB.

As expected no official of the board was willing to come on record on the issue.

Ironically, Asif was picked in the Pakistan squad for the forthcoming ODI tri-series in Bangladesh also featuring India.

 
Rajasthan Royals beat Chennai Super Kings by three wickets (and off the last ball) in the final of the inaugural Indian Premier League at the D Y Patil Stadium in Mumbai on Sunday.

Chasing a target of 164, Rajasthan began on a disastrous note, losing three wickets inside seven overs with just 42 runs on the board.

Niraj Patel (2) was cleaned up by Manpreet Gony in the fourth over and Swapnil Asnodkar (29) and Kamran Akmal (6) were dismissed in the space of three balls (of an Albie Morkel over), the latter needlessly run-out.

However, the in-form duo of Shane Watson (28) and Yusuf Pathan (56) put on 65 runs in just 45 balls for the fourth wicket in a partnership that brought Rajasthan back in the game.

Watson was impressive in his 19-ball knock, which had three hits to the fence, before he was cleaned up by a beautiful delivery from Muralitharan.

The Sri Lankan also snapped up Mohammad Kaif (12) off his final delivery (the last ball of the 17th over) and Morkel dismissed Ravindra Jadeja (0) with the very next delivery to brighten Chennai’s prospects.

Rajasthan were precariously placed at 139 for six, needing 25 runs with 17 balls left.

Then the worse happened. Pathan, who surived three chances to post his fourth half century of the tournament, saw his luck run out finally.

Pathan, whose 39-ball knock contained three hits to the fence and four huge ones over it, was run-out to a direct hit by Suresh Raina.

But Rajasthan captain Shane Warne was not to be denied his moment of glory.

Rajasthan needed 18 runs off the last two overs and eight from the final over, bowled by Lakshmipathy Balaji.

Warne (9 not out) and Sohail Tanvir (12 not out) took their team home, the latter hitting a boundary off the last ball.

Earlier, Rajasthan Royals [Images] used their bowling resources intelligently to restrict Chennai Super Kings to a modest 163 for five wickets.

Royals skipper Warne won the toss, asked the rival team to bat first and then captained the side imaginatively with his field placings and bowling changes, never allowing the Super Kings to settle down on a slow-pace track.

The Super Kings owed their score mainly to an enterprising 43 by in-form one-down batsman Suresh Raina, who faced only 30 balls while hitting two pulled sixes and a four.

The UP left-hander, back in the Indian one-day team, built on a decent start of 39 in 5.2 overs provided by Parthiv Patel (38 in 33 balls) and Vidyut Sivaramakrishnan (16 in 14 balls).

But his dismissal in the 17th over, when he threatened to cut loose, derailed Chennai’s plans for a more healthy total.

The most impressive bowler for the Royals was off-spinner Pathan, who grabbed three for 22 in two spells, while Watson accounted for the wicket of Raina.

The Super Kings, who had lost their two home and away ties earlier in the tournament against the same opposition, began their innings on a cautious note on a slow-paced track of low bounce on which the ball did not come on freely to the bat.

Parthiv and Sivaramakrishnan played it safe against Tanvir, who had grabbed six for 14 against them on May 4 at Jaipur.

Seeing the mood of the two openers, Warne removed the Pakistani left-arm pacer, the most successful bowler in the tournament, after only one over.

The run-rate perked up when Vidyut played an inside-out cover drive off Watson and then was lucky when his top-edge flew over the third man fence for a six.

Parthiv, coming into the match on the back of an unbeaten 51 last night in the semifinal against Punjab King’s XI, was content to see off Tanvir by facing five dot balls and then hitting his first four. He was also lucky to see his top edge off Munaf Patel race to the fence.

Warne replaced Watson with Pathan after five overs, in which 39 runs were scored, and the move paid off immediately when Vidyut pulled a short ball for Jadeja to bring off a fine front-diving catch at mid-on.

Warne rung in quick bowling changes to unsettle the second wicket duo of Parthiv and fellow left-hander Raina, who had powered their team to a nine-wicket win over Punjab King’s XI with an unbeaten century stand.

The 50 of the innings was raised in the seventh over and then Parthiv, after pulling off spinner Pathan for his fifth four, departed. He edged an attempted off-glide to wicket keeper Akmal who juggled with the ball before completing the catch.

In-form Raina, who made 54 not out against Deccan Chargers in his team’s last preliminary phase tie and followed it up with 55 not out against Punjab, continued his good run by stroking the ball well. He was hardly troubled by the spinners and pulled the great Warne for a six.

Morkel (16) also pulled Warne disdainfully for a six into the stands in the 12th over after the first 10 had yielded 75 runs. The South African all-rounder also swung Pathan over mid-wicket for his second six before he got out in the same over, 13th of the innings.

In trying to repeat the shot he ballooned a catch to stumper Akmal who took a tumble over Mohd Kaif, who also went for the ball, while managing to hold on to the sphere to provide Pathan his third wicket.

The 100 came up in 80 balls after which Raina swung Siddharth Trivedi, bowling his second spell, for a six. Later skipper Mahendra Singh Dhoni (29 not out in 17 balls) lofted Warne, bowling his last over, over the straight field for another six to take Chennai Super Kings to 117 for three with five overs remaining.

Raina fell in trying to clear the long off area and was caught just inside the rope by Jadeja after which Dhoni and Chamara Kapugedara added 20 runs before the latter holed out to the deep off Tanvir in the last over.

Dhoni, who hit a straight second six in Tanvir’s last over, and S Badrinath (6) remained unbeaten at the end of the innings.

Rajasthan were without opener Graeme Smith and made two changes to the side which won the semifinal against Delhi Daredevils [Images] while Chennai retained the side that won them the semi final against Punjab King’s XI.

 

Yusuf Pathan, a right-hand batsman, and Pragyan Ojha, a left-arm spinner, have been called up to the 15-member squad for the tri-series in Bangladesh and the Asia Cup in Pakistan next month. Dinesh Karthik and Munaf Patel, who played in the CB Series, failed to make the cut.

The inclusion of Yusuf, who is the half-brother of Irfan Pathan, was on expected lines after his stand-out performances for the Rajasthan Royals in the Indian Premier League. He has scored 334 runs at 27.83 from 13 innings with three fifties, and recorded the fastest half-century of the Twenty20 tournament: off 21 balls against the Deccan Chargers. He also took five wickets at 41.60 with his offspin.

Ojha was one of exceptions in an otherwise lacklustre performance by his team, Deccan, who lost 12 off their 14 matches. He took 11 wickets at 25.81, and his best figures were 2 for 18 in their IPL opener against the Kolkata Knight Riders.

However Venkatapathy Raju, the former India left-arm spinner who is also one of the national selectors, said IPL performances had not carried much weightage in picking the squad. “Our team did well in Australia and we kept in mind injuries to players in our selection”, Raju told Cricinfo. “Murali Kartik was injured and he opted out so we were looking for another left-arm spinner and Ojha’s advantage is his height. He was the selectors’ choice and not a recommendation from the captain.”

Yusuf, meanwhile, was a unanimous choice, Raju said, based on his recent performances. Apart from the selectors, Dav Whatmore, the National Cricket Academy director, Gary Kirtsen, the coach, Niranjan Shah, the board secretary, and Mahendra Singh Dhoni attended the meeting.

Ojha first came in to the limelight last August when he picked up 22 wickets in India A’s tour of Kenya, including 9 for 85 in a three-day fixture that India won by an innings and 87 runs.

In four List A games last season, Yusuf scored 92 for Baroda, while Ojha, picked up six wickets for Hyderabad. Their first-class record was better, with Yusuf getting 441 runs at 44.10 from seven Ranji games and Ojha topping Hyderabad’s wickets list with 24 at 31.87 from six matches.

Squad Mahendra Singh Dhoni (capt & wk), Yuvraj Singh, Robin Uthappa, Gautam Gambhir, Virender Sehwag, Rohit Sharma, Suresh Raina, Yusuf Pathan, Irfan Pathan, Sreesanth, Ishant Sharma, Praveen Kumar, RP Singh, Piyush Chawla, Pragyan Ojha.