A look at the headlines today:
1. RBI likely to cut policy rate today to boost economy
The Reserve Bank of India is likely to go for yet another rate cut today, the fifth in a row, as inflation is within the comfort zone and the need to boost the economy is pressing. RBI Governor Shaktikanta Das has already hinted that benign inflation provides room for further monetary policy easing while space for fiscal space is limited. The government has announced a series of measures including steepest cut in corporate tax, rollback of enhanced surcharge on Foreign Portfolio Investors, among others to jump-start growth which hit a six-year low of five per cent during the first quarter of the current fiscal. The six-member MPC is scheduled to announce the fourth bi-monthly monetary policy for 2019-20 today, after a three-day meeting.
2. SC to hear Chidambaram's bail plea today
Former Union finance minister P. Chidambaram's bail plea in the INX Media corruption case will come up for hearing before the Supreme Court today. The matter has been listed for hearing before a bench of justices R. Banumathi and Hrishikesh Roy. Chidambaram (74), who held the finance as well as the home portfolios in the UPA government from 2004 to 2014, was arrested by the Central Bureau of Investigation (CBI) from his Jor Bagh residence on August 21 in connection with the case. He is presently lodged in Tihar jail under judicial custody, which was extended till October 17 by a court on Thursday. A bench headed by Justice Banumathi had, on September 5, denied anticipatory bail to Chidambaram in the INX Media money-laundering case lodged by the Enforcement Directorate (ED).
3. Telangana CM to meet Modi in Delhi today
Telangana Chief Minister K. Chandrasekhar Rao left for the national capital and is scheduled to meet the Prime Minister Narendra Modi. He is expected to meet PM Modi at 11am. Though the agenda of the meeting is not yet officially disclosed, sources said Rao may press for the early release of pending funds from the Centre, among other issues. This would be the first meeting between Modi and the Telanagana chief minister after the former became PM for the second term.
4. New SC bench to hear plea of Gautam Navlakha today
Justice S. Ravindra Bhat on Thursday became the fifth apex court judge to recuse himself from hearing a plea filed by civil rights activist Gautam Navlakha, who has challenged the Bombay High Court order refusing to quash an FIR lodged against him in the Koregaon Bhima violence case. On September 30, Chief Justice of India Ranjan Gogoi had recused himself from hearing Navlakha's plea. Later on October 1, the three judges of a bench—justices N.V. Ramana, R. Subhash Reddy and B.R. Gavai—had also recused themselves from hearing the matter. When the matter came up for hearing on Thursday before a bench comprising justices Arun Mishra, Vineet Saran and S. Ravindra Bhat, justice Bhat recused himself from hearing the case. When the bench was informed by Navlakha's counsel that the three week protection given to him by the Bombay High Court was expiring on Friday, the bench said his petition would be heard by another bench tomorrow.
5. Hurricane Lorenzo expected to hit London today
Hurricane Lorenzo, speeding at 69kmph, is expected to hit London today. The US National Hurricane Centre said that the Category 4 storm has maximum sustained winds of 233 kmph. On Wednesday, the bodies of three crew members were recovered from the Atlantic after a supply vessel operated by a French oil services group sank in hurricane conditions, bringing the death toll to four, according to a Martinique government official. The ship passed near the eye of Lorenzo, which produced waves as high as 10 metres (30 feet), according to the survivors.
6. Asif Kapadia's 'Diego Maradona' to be screened in Mumbai today
Diego Maradona, by Indian-origin British filmmaker Asif Kapadia, which premiered at Out of Competition at the 72nd Cannes Film Festival, will have its first screening in Mumbai today. "When I was growing up, Maradona was the best player in the world. There was no doubt about it. I'm interested in him as a character though. That's the thing. There's been lots of great players. He was the best," said Kapadia, who has won multiple awards for his documentaries Senna and Amy. Kapadia is considered one of the world's most bankable biographical documentary makers. Senna is a 2010 film based on the late Brazilian motor-racing champion Ayrton Senna. The film won BAFTA Awards for Best Documentary and Best Editing. Six years later, Amy, the movie on British singer-songwriter Amy Winehouse, who died at age 27 in 2011, went on to win the Best Documentary BAFTA, Grammy for Best Music Film and Academy Award for Best Documentary Feature.
7. NBA's arrival in India; India-South Africa Test; Europa League updates
NBA: The NBA India Games 2019, with its first ever NBA match in India, will be played between the Sacramento Kings and Indiana Pacers in Worli today and tomorrow. Priyanka Chopra, husband Nick Jonas, and other celebrities have arrived in India for the occasion. Throughout the week, NBA Cares, Jr. NBA, Her Time to Play and NBA Academy programming will feature basketball clinics, community impact projects and special events. Continuing and expanding these initiatives ahead of The NBA India Games, the NBA,Pacers and Kings will support five under-resourced municipal schools in and around Mumbai, including Sitaram Mill Compound BMC Marathi School, where league and team executives and former NBA players will break ground on a new basketball court on October 5.
India-South Africa Test: Mayank Agarwal showed insatiable appetite for runs, converting his maiden Test hundred into a brilliant double before the Indian spinners tightened the noose around the exhausted South Africans on the second day of the series opener on Thursday. Playing his first Test in India, Agarwal showed remarkable concentration and endurance for his monumental 215 off 371 balls that allowed the hosts to declare their first innings at 502 for seven in 136 overs. In response, South Africa were staring down the barrel at close of play, losing Aiden Markram (5), Theunis de Bruyn (4) and night watchman Dane Piedt (0) under floodlights to be 39 for three for in 20 overs, trailing India by 463 runs.
Europa League: Arsenal's Europa League winning streak continued as they beat Standard Liege 4-0. Feyenoord beat Porto 2-0, while Premier League's Wolverhampton Wanderers won 1-0 at Besiktas. Three-time European champions Manchester United had to be satisfied with a disappointing 0-0 draw away to AZ Alkmaar.
