Sachin Lier and bad Sport

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.

 

Railway station set ablaze

Situation in Bihar continued to be tense, as thousands of students have come out in open protesting against Maharashtra Navnirman Sena and its chief Raj Thackeray. All Bihar-bound trains have been cancelled or disrupted following the violent protests by angry students. As many as 15 Bihar-bound trains have been cancelled and seven trains have been rescheduled. The prominent among the cancelled trains are New Delhi-Guwahati Sampark Kranti Express, Delhi–Malda Farakka Express, Puri Express, New Delhi-Bhubaneswar Rajdhani Express and Howrah Express and the Sealdah Express. The Mahananda Express, the Northeast Express, the Howrah Express and the New Delhi-Guwahati Rajdhani Express have been rescheduled. Meanwhile, the Railways have refused to run trains in Bihar unless the Bihar government provides adequate security to trains and staffs. The issue has taken a political colour with RJD chief Lalu Prasad Yadav and Bihar CM Nitish Kumar coming to face-to-face over this issue. The cancellation of trains has caused immense trouble to people in New Delhi and Patna, as thousands of people were left stranded.

Motihari railway station in Bihar was set ablaze on Thursday by students protesting against Raj Thackeray’s Maharashtra Navnirman Sena, a senior Railways official said in Patna on Thursday. The ongoing violent students’ protest took an ugly turn when a portion of Motihari railway station was set ablaze after the students ransacked the station. A Railways source in Motihari said that offices of the station master and others were set ablaze by students. “Offices of the railway station are burning as no move was made to stop it,” sources said. After the police was informed about the incident, a fire brigade vehicle was sent to railway station but it was badly damaged by students. The local administration and the police remained mere mute spectator to the violence.