Economy
70-75 percent chance of US Fed hike, RBI ready: Rajan
RBI Governor Raghuram Rajan on Friday said there was a 70-75 percent possibility that the US Federal Reserve would raise interest rates in its monetary policy review later this month.
 
"There is 70-75 percent possibility that the rates would be increased," Rajan told reporters here.
 
"The (US) Fed has prepared the ground and we are expecting that it will raise the rates anywhere between one and 25 basis points. Whatever decision the Fed takes, we are prepared for any eventuality," Rajan said after the Reserve Bank of India (RBI) Board of Governors meeting.
 
RBI deputy governor Urjit Patel said it was "almost certain" the US central bank would raise interest rates.
 
"Analysing the language used by the Fed, we expect that interest rates will be raised," Patel said.
 
At its latest policy review earlier this month, the RBI held its repo rate at 6.75 percent, having made a reduction of 50 basis in the previous policy review on September 29.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Bihar ex-MP Shahabuddin gets life imprisonment
Former MP Mohammad Shahabuddin and three others were were sentenced to life imprisonment by a Bihar court on Friday for giving an acid bath to two brothers and murdering them 11 years ago, a lawyer said.
 
Shahabuddin has been languishing in jail for several years in connection with several serious criminal cases.
 
Last Wednesday, the court convicted Shahabuddin and the three others accused in the case.
 
Shahabuddin was convicted on charges of criminal conspiracy, kidnapping and murder.
 
Additional District Judge of Siwan Special Court Ajay Kumar Srivastava pronounced the judgement and termed it as the rarest of the rare case.
 
According to a police officer, the court found Shahabuddin guilty in a 2004 case in which he and his men were charged with giving an acid bath to two brothers - Girish Raj and Satish Raj - and murdering them.
 
Shahabuddin's son Osama has also been charged with killing of a local BJP leader Rajiv Roshan, who was a witness in the same murder case.
 
The two brothers were kidnapped at Shahabuddin's behest and drenched in acid before being murdered.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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HC seeks report on December 16 gang rape convict
The Delhi High Court on Friday issued notice to the central government on BJP leader Subramanian Swamy's plea against the release of the juvenile convict in the December 16, 2012 gang-rape and sought an IB report about him having been radicalised.
 
A division bench of Chief Justice G. Rohini and Justice R.S. Endlaw asked the government to give the IB report in a sealed cover and posted the matter for hearing on Monday.
 
The juvenile, who was under 18 when arrested for brutal rape and murder of a para-medical student on December 16, 2012, was tried under the Juvenile Justice Act. He was ordered to be keept in a remand home for three years. 
 
The juvenile is set to be released on December 15. The (Intelligence Bureau) IB had raised suspicion of the juvenile being radicalised after being shifted with a juvenile apprehended for the Delhi high court blasts.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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