The Reserve Bank of India (RBI) raised the key rate by 50 basis points to 4.9% on Wednesday as inflation continued to remain above its tolerance level. RBI Governor Shaktikanta Das said real GDP for FY23 is estimated at 7.2%, and that for the first quarter at 16.2%, the second at 6.2%, the third at 4.1% and the fourth at 4%.
The inflation projection for the current fiscal year is estimated at 6.7% and for the first quarter at 7.5%, the second quarter at 7.4%, the third quarter at 6.2% and the fourth quarter at 5.8%, Das said. The central bank has increased the recurring payment limit to Rs 15,000 per transaction.
Ukraine’s military intelligence agency said Russia has so far handed over the bodies of 210 Ukrainian fighters killed in the Battle of Mariupol. He says that most of them were among the last resisters in the Azovstal steelworks. The agency did not say on Tuesday how many more bodies would remain in the rubble of the factory. Russia now controls the destroyed port city. He started turning over bodies last week. Ukraine said on Saturday the two sides exchanged 320 bodies, each recovering 160. It is unclear whether any other bodies were handed over to Russia.
External Affairs Minister S Jaishankar is due to hold talks with his visiting Iranian counterpart Hossein Amir-Abdollahian on Wednesday amid widespread anger in West Asian countries over controversial remarks about the Prophet Mohammad made by two former BJP spokespersons. Abdollahian is on a three-day visit to India with the aim of further strengthening bilateral relations. It is the first visit to India by a senior minister from an Organization of Islamic Cooperation member country after the controversial remarks sparked angst in the Arab world.