Rupee may be undervalued, markets can be irrational: RBI governor Sanjay Malhotra
MUMBAI: Reserve Bank of India governor Sanjay Malhotra said the rupee was undervalued and the central bank would intervene to ensure orderly movement in the currency market even as it closed at 96.78 on Wednesday, down 36 paise from its previous close, after falling to a five-month low of 96.85 during the day. “By a number of estimates, including the real effective exchange rate, the rupee is not overvalued. It may be undervalued,” Malhotra said at a press conference after the MPC meeting. He was responding to a question on whether the rupee market was irrational. “Markets can be quite irrational in the short run. It’s only in the long run that they are able to find the right value,” he said. Rupee falls to 96.85 against Dollar hitting five-month low The governor said RBI would support the rupee’s orderly movement and help it find its “correct value”, while ensuring there was no excessive volatility. Malhotra also said a correction in the valuation of global AI stocks could redirect foreign capital to emerging markets such as India. He said a correction in AI stocks would not have a major negative impact on India and “if at all, there may be” a positive impact. Malhotra said that US tariffs and the absence of a trade deal would be a negative but could be offset by a trade deal with other countries. Despite a robust services trade surplus and strong net remittance receipts, the current account deficit widened in July because of a higher merchandise trade deficit, Malhotra said. The merchandise trade deficit rose to $58.7 billion in July and Aug from $55.1 billion in the same period a year earlier, mainly because of higher imports of electronic goods and crude oil. On external financing, Malhotra said net FDI had shown sustained improvement, with inflows rising to $13.8 billion in the first four months of the year from $9.6 billion in the corresponding period a year earlier. The increase was driven by higher gross inflows and a slowdown in the growth of outward FDI. “Robust gross FDI reflects the strong interest of global investors in India,” he said. FPI recorded net outflows of $10.3 billion during the period up to Oct 5. However, capital-flow measures announced in the June policy had supported inflows, he said. The balance of payments is consequently expected to record a healthy surplus this year. Malhotra also clarified that the new trade rules are aimed at improving ease of business and do not impose a reporting burden on individuals who get paid from overseas for software or other services. Nor does it apply to individuals paying for software or some subscriptions. Small exporters can use a self-declaration for bills up to Rs 10 lakh; and banks, not exporters or importers, handle reporting on the RBI’s system. The aim is to simplify trade procedures while improving RBI’s data on services exports, he said. Sensex snaps winning run After a two-session gain, sensex slid on Wednesday after RBI hiked interest rates for the first time in over three-and-a-half years. Sensex closed 429 points down at 72,639 points while on NSE, Nifty closed 173 points down at 22,603 points. On BSE, two indices-PSU banks and housing finance-each closed nearly 1% up while two other indices-bankex and financial services-closed barely changed. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
‘Where were 300 MPs? Rahul Gandhi is doing theatrics’: BJP hits back at Congress over EC protest
BJP MP Sudhanshu Trivedi cites the Election Commission’s latest press release, claiming that no formal request from Congress or its delegation to meet the poll panel had been received LoP in the Lok Sabha Rahul Gandhi being detained by police personnel after over eight-hour sit-in inside Akashvani Bhawan premises for not being allowed to march towards the Election Commission’s office, during a protest march against CEC Gyanesh Kumar, in New Delhi. (AICC via PTI Photo) BJP MP Sudhanshu Trivedi on Tuesday launched a sharp attack on Congress leader Rahul Gandhi over the opposition party’s protest at the Election Commission office accusing it of creating a “theatrics” after the poll panel issued a statement clarifying its position on the proposed meeting. Trivedi cited the Election Commission’s latest press release, claiming that no formal request from Congress or its delegation to meet the poll panel had been received. He said the ECI learnt around 4 pm through the Delhi Police DCP that Gandhi wanted to meet its officials. “Rahul Gandhi asked for time, and when time was given, he did not go,” Trivedi said, adding that the Commission had offered to meet Congress representatives and had also offered to send a senior official to receive their memorandum. He questioned the Congress’ claim that around 300 MPs were part of the protest. Related news: After 8-hour standoff, Rahul Gandhi, Priyanka detained from Akashvani Bhawan “Where were the 300 MPs?” Trivedi asked, arguing that the numbers visible at the protest did not match the Congress’s claim. He also questioned why senior Congress lawyers and leaders were not part of the delegation. The BJP further attacked the Congress over its reported attempt to seek a meeting with the Election Commission at Parliament, arguing that constitutional authorities cannot simply be “summoned” by Parliament or political parties. The ruling party also criticised Congress protesters for entering the Akashvani premises, asking why they did so if their objective was merely to stage a demonstration. Taking a swipe at Gandhi’s repeated political setbacks, Trivedi compared the Congress leader’s attempts to relaunch himself to satellite launch vehicles. “The Congress should now be called FSLV-Failed Satellite Launch Vehicle,” he said. Trivedi, addressing the press conference at party headquarters alleged that the Congress was trying to manufacture a confrontation with constitutional institutions after failing to substantiate its allegations against them, accusing the party of being “frustrated” and rejected by voters. Article_Author Manikant Mishra Courtesy : The Tribune Note: This news is originally published on https:/thetribune.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
‘This is merely the beginning’: Congress warns Gyanesh Kumar after INDIA bloc protest
NEW DELHI: Congress MP Pawan Khera on Tuesday warned the government that the INDIA bloc’s protest against chief election commissioner (CEC) Gyanesh Kumar was only the beginning, shortly after opposition MPs were released from New Police Lines in Kingsway Camp.“The words being spoken today are going to cost them dearly. The people of this country know exactly how to deal with such words and the people who utter them,” Khera told reporters after his release. He said those in power should “mend their ways right now” and warned that the public would “bring down those who are currently riding the high horse of arrogance”. #WATCH | Delhi | After INDIA bloc MPs were released from New Police Line, Kingsway Camp, Congress MP Pawan Khera said, “The words being spoken today are going to cost them dearly. The people of this country know exactly how to deal with such words and the people who utter them. They ought to realise this and mend their ways right now. The public will bring down those who are currently riding the high horse of arrogance. Narendra Modi, Gyanesh Kumar, Mohan Bhagwat and Amit Shah will not sleep tonight—nor will they sleep soundly ever again—because they have betrayed the nation. If Gyanesh Kumar thinks that just because we went home today, it is all over, he needs to understand that this is merely the beginning—nothing has ended yet”(06.10) — ANI (@ANI) October 7, 2026 Khera named Prime Minister Narendra Modi, CEC Gyanesh Kumar, RSS chief Mohan Bhagwat and Union home minister Amit Shah, saying they “will not sleep tonight—nor will they sleep soundly ever again—because they have betrayed the nation”. “If Gyanesh Kumar thinks that just because we went home today, it is all over, he needs to understand that this is merely the beginning—nothing has ended yet,” Khera said. Earlier on Tuesday, Delhi Police detained Leader of Opposition in the Lok Sabha Rahul Gandhi along with several other Congress MPs from near Akashvani Bhavan following a day-long protest demanding the removal of CEC Gyanesh Kumar. The INDIA bloc MPs had marched from the Parliament complex towards Nirvachan Sadan, the Election Commission headquarters, seeking a meeting with the election commissioners over their allegations of “vote chori”. Police stopped the march near Akashvani Bhavan, following which the MPs staged a sit-in. After nearly nine hours of protest, police moved in and detained several opposition MPs, including Khera, KC Venugopal and Amrinder Singh Raja Warring. Around 50 MPs were detained and taken to New Police Lines at Kingsway Camp, according to PTI, citing sources. “The Election Commission office is barely 50 metres away, but we were not allowed to go there. I do not understand what the problem is. The Election Commission’s job is to conduct elections properly. At least 300 MPs want to meet Gyanesh Kumar. But he is scared. I don’t know what’s happening in the country,” Rahul said. “If the representatives of the people cannot meet the Election Commission, then what is the meaning of democracy?” he said. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
FIR registered against Rahul, Priyanka Gandhi over entry into Akashvani Bhawan during protest
NEW DELHI: Delhi Police have received a complaint from Akashvani staffers against Congress leaders Rahul Gandhi and Priyanka Gandhi Vadra, as well as the MPs and others accompanying them, for allegedly forcing their way into the Akashvani office. Rahul and Priyanka were briefly detained on Tuesday night after an over eight-hour sit-in at the Akashvani Bhawan premises. The protest began after police stopped INDIA bloc MPs from marching towards the Election Commission’s office, around 300 metres away, over allegations of “vote chori”. Rahul had entered the All India Radio premises on Parliament Street around noon and joined the protest. Earlier, during the march from Parliament towards the EC headquarters, he climbed atop barricades as opposition MPs raised slogans of “Vote Chor, Gaddi Chhod”. Priyanka Gandhi Vadra, NCP-SP MP Supriya Sule and several other opposition leaders also took part in the march. Security personnel stopped the MPs near the NITI Aayog office amid heavy barricading around Parliament and the EC office. Police later forcibly removed Rahul and several other Congress leaders and MPs, including K C Venugopal, Charanjit Singh Channi, Pawan Khera, K Suresh, Amarinder Singh Raja Warring, Deepender Hooda, Praniti Shinde, Varsha Gaekwad and Imran Pratapgarhi, as the protesting MPs and leaders were cleared from the AIR premises. The detainees were taken to New Police Lines at Kingsway Camp. Police said around 250 people, including 50 MPs, were detained on Tuesday night following the prolonged sit-in. Gandhi and other Congress leaders were released around 10 pm, the party said. The opposition MPs were protesting over “vote chori” allegations and seeking the removal of CEC Gyanesh Kumar in the wake of media reports alleging differences within the Election Commission over the SIR of electoral rolls and other issues. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
After Delhi and Mumbai, Bengaluru to protest against SIR on Thursday – all you need to know
NEW DELHI: After massive protests in Delhi and Mumbai over the Special Intensive Revision (SIR) of electoral rolls, civil society groups in Karnataka are set to hold a “People’s Tribunal” in Bengaluru on October 8 to document concerns over voter deletions and alleged discrepancies in the electoral rolls. Unlike a conventional political rally, the People’s Tribunal is expected to provide a public platform for people affected by the SIR exercise to share their experiences at Freedom Park. The Bengaluru event will focus in particular on voters categorised under the Absent, Shifted, Dead, Duplicate and Others (ASDDO) categories. The tribunal comes amid growing concerns over the SIR process. The event has also drawn support from actor Prakash Raj. In a social media post, Raj said, “People’s Tribunal by Cockroaches..Dipke.Ashuthosh.. Sourav and all the youth organisations and the civil society.. The victims of SIR from across the state will be present.” People’s Tribunal by Cockroaches..Dipke.Ashuthosh.. Sourav and all the youth organisations and the civil society.. The victims of SIR from across the state will be present . requesting all the citizens to participate in this fight to save our Democracy.. come join us tomorrow 8 th October at Freedom Park .. Bengaluru #ScrapSIR #ResignGyaneshKumar #justasking — Prakash Raj (@prakashraaj) October 7, 2026 He urged citizens to participate in what he described as a fight to “save our Democracy”. CJP spokesperson Ashutosh Ranka reacted to Raj’s post with “See you Bengaluru!”, signalling his participation in the gathering. The tribunal follows protests in Delhi and Mumbai, where opposition parties, and student groups raised concerns over the SIR exercise and demanded resignation of CEC Gyanesh Kumar. Thousands gathered for the CJP-led protest at Mumbai’s Shivaji Park, while demonstrations in Delhi were met with heavy police restrictions and detentions. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
‘Misleading’: EC fact-checks Rahul Gandhi’s claim that Gyanesh Kumar changed Form 6 ‘illegally’
Election Commission of India says Rahul Gandhi’s statement was misleading The Election Commission of India (ECI) on Monday fact-checked Leader of Opposition (LoP) Rahul Gandhi over his statement alleging that Chief Election Commissioner (CEC) Gyanesh Kumar changed Form 6 “illegally and unilaterally”. Sharing a screenshot of the Election Commission’s September 26 statement on X, Gandhi highlighted a paragraph which stated, “The declaration attached to Form 6 for SIR has been upheld by the Supreme Court. For the non-SIR period, the forms applicable as per Rules (the Registration of Electors Rules, 1960) will be used.” ‘Any modified Form 6 not approved by us’: Supreme Court refutes EC claim over new declaration in SIR states Comment: CEC is not the Election Commission: The Chief Justice has made it clear that the Supreme Court did not give its approval to the modified Form 6 “It is now established beyond doubt that Gyanesh Kumar changed Form 6 illegally and unilaterally. This is just one more proof of him abusing his position to help the BJP. He and everyone else involved in this criminal assault on our democracy will be held accountable,” he said in a post on X. In response, the Election Commission, while terming his statement “misleading”, said, “The order for SIR in Bihar issued on June 24, 2025, was issued with the unanimous approval of the Commission. This order has been upheld by the Hon’ble Supreme Court of India in its judgment dated May 27, 2026.” It further added, “In its Press Note No. 120 dated September 26, 2026, in Point 1(iii), the ECI has stated that, ‘The declaration attached to Form 6 for SIR has been upheld by the Hon’ble Supreme Court.’” Animesh Singh Courtesy : The Tribune Note: This news is originally published on https:/thetribune.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
Cong reaches out to smaller parties ahead of seat-sharing talks with SP
Lucknow: Congress is in talks with at least four smaller regional outfits from Uttar Pradesh even before it goes for seat-sharing negotiations with Samajwadi Party, its INDIA bloc partner in UP. Though the party functionaries claim that it is conscious of ‘gathbandhan dharma’ and wants to move ahead with SP as an alliance partner, the grand old party’s outreach to smaller political outfits is being seen as a move to strengthen its bargaining power while discussing alliance modalities with SP. Congress party’s UP in charge Rajendra Pal Gautam has pitched for ‘equal partner’ status and reiterated on Sunday that the party was preparing for 200 seats. Among smaller outfits in touch with Congress are Apni Janta Party chief Swami Prasad Maurya, who met Rahul on Saturday, followed by Sanjay Chauhan of Janwadi Party (Socialist) and Pankaj Niranjan of Apna Dal (Kamerawadi), on Sunday. Political analysts said the outreach could serve a dual purpose for Congress — expanding its social and organisational footprint ahead of the 2027 assembly elections while also giving it additional leverage when it sits across the table with SP. “Congress is trying to strengthen its position before the seat-sharing exercise begins. If it can bring smaller parties with a specific social base into its fold, it can enter negotiations with the SP with a wider alliance proposition,” a political analyst said. Another analyst said the move should not be seen as Congress preparing to move away from SP. “The Congress knows the importance of the alliance, but at the same time it would not want to enter seat-sharing talks from a position of weakness. Outreach to smaller parties gives it some room to negotiate,” he said. The timing of the outreach is also significant as Congress has been signalling an ambition to expand its footprint in UP. Gautam’s pitch for an ‘equal partner’ status and the party’s preparation for around 200 seats indicate that Congress is looking to negotiate from a position of greater strength. On Monday., Gautam told reporters in New Delhi: “We have asked for equal status in the coalition which means 200 seats and we must do it soon.” The smaller parties being approached also bring distinct OBC and local support bases, which could add to the broader INDIA bloc’s social arithmetic. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
Concerns raised over ‘lack of diversity’ in state planning board
Thiruvananthapuram: A group of representatives from backward classes, minority, Dalit, OBC and other socially under-represented communities has urged leader of the opposition in Lok Sabha Rahul Gandhi to intervene in the recent reconstitution of the state planning board, alleging inadequate social and professional representation. In a representation submitted to Gandhi, the signatories sought corrective measures to ensure that the composition of the planning board reflects Keralam’s social diversity, professional expertise and constitutional principles of inclusion and equal opportunity. The letter said the state has a large pool of accomplished academics, professionals, administrators, scientists and social experts from various communities, including backward classes, Muslims, Dalits and historically under-represented Hindu and Christian OBC communities. However, it alleged that adequate representation from these sections was not reflected in the newly constituted board. The group also raised concern over the absence of women among the political appointees, despite the availability of eminent women scholars, economists, administrators and planning experts in the state. The signatories said the planning board played a crucial role in long-term development planning, evidence-based policy formulation, research and evaluation of govt programmes. They argued that appointments to the institution should therefore take into account professional competence, expertise, relevant experience, integrity and broad social representation. The representation questioned whether adequate weightage was given to professional qualifications and demonstrated expertise in the recent appointments. It sought greater public scrutiny of the credentials of some individuals appointed as experts. The signatories urged Gandhi to examine the concerns objectively and seek steps to ensure wider representation of Keralam’s diverse social and professional communities. The representation was signed by 13 persons, including former directors of backward classes development department V R Joshi and V S Mohammed Ibrahim, former minority welfare department director A B Moideenkutty and representatives of various social organisations. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
Pargat meets Rahul, Kharge; AAP questions Cong leadership change
Chandigarh: Newly appointed Punjab Pradesh Congress Committee (PPCC) president Pargat Singh on Monday met Congress leader and Leader of Opposition in the Lok Sabha Rahul Gandhi and Congress president Mallikarjun Kharge in New Delhi, as AAP state president Aman Arora questioned the Congress high command’s handling of its Punjab unit. After meeting Rahul, Pargat said he was committed to strengthening the Congress organisation in Punjab and working for the rights and interests of the state and its people. “With renewed energy and the collective strength of our leaders, workers and people of Punjab, we will work tirelessly to strengthen the Congress organisation and build a better future for Punjab,” he said. Pargat also met Kharge, thanked him and sought his guidance as he takes charge of the state unit. Arora congratulated Pargat but alleged that the Congress had disregarded the sentiments of its Punjab workers while making leadership changes. He questioned the removal of Amrinder Singh Raja Warring as PPCC chief, saying, “Amarinder Singh Raja Warring took charge of the Congress during a difficult period and worked with party workers for four and a half years. But Sachin Pilot, who replaced Bhupesh Baghel as Congress’s Punjab incharge, decided to remove him during a visit to Punjab that lasted barely two hours.” Arora also questioned Rahul’s meeting with Pargat four days after his appointment. “This raises questions about the attitude of the Congress high command towards Punjab,” he said. On reports that Vijay Inder Singla’s name had been considered for the post, Arora said overlooking him had disappointed people in Sangrur and Malwa. He also alleged that factionalism remained unresolved in the Congress, citing social media posts by former CM Charanjit Singh Channi’s son and reports of Warring travelling to London with his family. “Instead of the enthusiasm that should have followed the appointment of a new state president, there is silence among Congress workers,” he said. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights
‘Gandhi, Nehru, Ambedkar are India’s soul, mind, backbone’: Dipke’s jibe at Centre
NEW DELHI: Cockroach Janta Party founder Abhijeet Dipke on Sunday said Mahatma Gandhi, Dr Babasaheb Ambedkar and Pandit Jawaharlal Nehru represented three distinct pillars of India’s political and social legacy. In a video post, Dipke described Gandhi as the “SOUL of India”, Ambedkar as the “BACKBONE of India” and Nehru as the “MIND of India”, adding, “You can never become like them.” — abhijeet_dipke (@abhijeet_dipke) The development comes as the CJP, led by founder Dipke, organised a protest at Mumbai’s Shivaji Park on Friday, demanding the resignation of Chief Election Commissioner Gyanesh Kumar over irregularities in the Special Intensive Revision of electoral rolls. Coinciding with Mahatma Gandhi’s birth anniversary, the protest stage displayed quotations on non-violence and simplicity, alongside tributes to Babasaheb Ambedkar. Mumbai Police have registered an FIR against the organisers and 400-500 unidentified persons in connection with the protest at Shivaji Park. The case has been registered under provisions of the Bharatiya Nyaya Sanhita and the Maharashtra Police Act for unlawful assembly, wilful disobedience of a lawful order issued by a public servant and other offences, a Shivaji Park police station official said. The FIR was registered based on a complaint filed by a resident of the Shivaji Park area, the official added. Dipke on Friday night also announced a fresh protest at Delhi’s Jantar Mantar if Chief Election Commissioner Gyanesh Kumar did not resign. “If Gyanesh Kumar doesn’t resign, cockroaches from across India will march to Delhi & protest at Jantar Mantar on October 10,” he said in a post on X, adding that the protest would be peaceful and urging every citizen who wants free and fair elections to join it. Courtesy : TOI Note: This news is originally published on https:/timesofindia.com/bha and is used purely for non-profit/non-commercial purposes, especially human rights