BackWinter session to dominate week of protests
The Fed is set for an unscheduled meeting later on 23 November; India will issue its first set of sovereign gold bonds on 26 November
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Unscheduled Fed meeting on 23 November
The US central bank, the Federal Reserve, is set for an unscheduled meeting later on 23 November. The Fed said the meeting was called to review the advance and discount interest rates charged to commercial banks and other financial institutions. There has been much speculation the Fed will raise its benchmark interest rate by the end of this year.
Winter session likely to be stormy
The problems for the National Democratic Alliance (NDA) government are not likely to subside in the upcoming winter session of Parliament, beginning 26 November, as even like-minded parties in the opposition have signalled an end to their quiet support and want to discuss the issue of growing intolerance. Important regional parties such as the Biju Janata Dal (BJD) and the All India Anna Dravida Munnetra Kazagham (AIADMK), which have extended their backing to the ruling Bharatiya Janata Party (BJP) so far, may not do so in the winter session.
NDA leaders will meet on Tuesday to work out the ruling alliance’s strategy in Parliament.
Sovereign gold bonds to be issued on 26 November
India will issue its first set of sovereign gold bonds on 26 November, with an annual interest rate of 2.75%, the finance ministry said in a statement. The bonds will be issued by the Reserve Bank of India on behalf of the government and will be available for sale at banks and post offices. They will be part of the government’s market borrowing programme. These bonds are part of the government’s ambitious programme to reduce the physical demand for gold and help reduce the import bill as India’s gold imports range between 800-1,000 tonnes a year.
Performance review of state-run banks
Finance minister Arun Jaitley will meet heads of state-run banks at a performance review meeting on 23 November to discuss various issues, including bad loans and credit flow to productive sectors of the economy. The meeting will also review ‘Indradhanush’ plan, the seven-point agenda to revive the fortunes of public sector banks, sources said.
Modi’s Singapore visit begins
Prime Minister Narendra Modi will arrive in Singapore on his maiden official visit beginning on 23 November during which the two countries will elevate their relations to strategic partnership by signing an agreement. During his visit, Modi will meet his counterpart Lee Hsien Loong, President Tony Tan Keng Yam and Emeritus senior minister Goh Chok Tong, reports PTI.
Delhi temperature to dip from 23 November
The Indian weather forecasting agencies have said the national capital is likely to see a sudden change in weather and a temperature dip from 23 November. This will be followed by snowfall in some of the northern states, including Himachal Pradesh and Jammu and Kashmir.
FTII students to hold parallel film fest
With films by FTII students not being screened at the International Film Festival of India (IFFI) in Goa, students of the institute have planned to hold a parallel film festival to protest against the decision. According to the Students’ Association Film and Television Institute of India, the film festival ‘Retracing Freedom’ will be held 24-25 November.
BJP stir against SP
The BJP will make Varanasi, Azamgarh, Aligarh and Kannauj centres to run its statewide week-long agitation from 25 November in protest against the alleged failure of the Samajwadi Party government on the law and order front. The party has also demanded a clear guideline for the use of the chief minister’s discretionary fund to avoid its misuse in the light of the Dadri incident.
Constitution Day commemoration
The ruling dispensation has set aside the first two days of the upcoming Winter Session to commemorate Constitution Day in an apparent attempt to ward off an anticipated onslaught. BJP strategists have decided to start the Winter Session on 26 November with a discussion on the Constitution, ostensibly to pay homage to the document’s founding father Babasaheb Ambedkar, as part of year-long programme to observe his 125th birth anniversary. This is the first time that a special sitting of Parliament has been called to commemorate the day that the Constitution was adopted in 1949, before coming into effect on 26 January 1950.
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