Reserve Bank of India (RBI) is likely to raise the benchmark lending rate by 25-50 basis points on Wednesday as inflation continues to remain above its comfort level, say experts. Last month, RBI raised the repo rate or short term lending rate by 40 basis points in an off-cycle monetary policy review to check spiralling inflation. The decision of the RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC), which started its deliberations on Monday, is scheduled to be announced at 10 am on Wednesday.
Ukraine’s military intelligence agency says Russia has so far turned over the bodies of 210 Ukrainian fighters killed in the battle for Mariupol. It says most of them were among the last holdouts in the Azovstal steelworks. The agency did not specify Tuesday how many more bodies are believed to remain in the rubble of the plant. Russia now controls the destroyed port city. It began turning over bodies last week. Ukraine said Saturday that the two sides had exchanged 320 bodies, with each getting back 160. It is unclear whether any more bodies have been given to Russia.
External Affairs Minister S Jaishankar is scheduled to hold talks with his visiting Iranian counterpart Hossein Amir-Abdollahian on Wednesday amid widespread anger in West Asian countries over controversial remarks on Prophet Mohammad made by two former BJP spokespersons. Abdollahian is paying a three-day visit to India with an aim to further enhance bilateral ties. It is the first visit to India by a senior minister of a member nation of the Organisation of Islamic Cooperation after the controversial remarks triggered anguish in the Arab world.
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