YSRCP observes 'Betrayal Day' with rally in Banaganapalle
The YSR Congress Party (YSRCP) marked June 4 as 'Betrayal Day' with a massive protest rally in Banaganapalle, led by former MLA Katasani Ramireddy on Wednesday. The rally began at the YSRCP office and proceeded to the Tahsildar's office, drawing large participation from party workers and leaders.
The protest, in response to party chief Y.S. Jagan Mohan Reddy's statewide call, targeted the ruling TDP-led alliance, accusing it of backtracking on key promises, including the "Super Six", and burdening the public with Rs.1.5 lakh crore in debt within a year.
Ramireddy criticized the government for scrapping welfare schemes like free bus travel for women and doorstep ration delivery, imposing BCJR taxes on small businesses, and misusing the NREGS scheme.
A memorandum demanding immediate implementation of poll promises was submitted to the Tahsildar. ZP Chairman Errabothula Papi Reddy, youth wing leader Gundam Nageshwar Reddy, and other district leaders participated.
'YSRCP 2.0 is coming — no betrayal will be forgiven,' declared Ramireddy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
25 minutes ago
- Time of India
RBI's 'bold' 50 bps cut to reduce interest rates, improve credit access: India Inc
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The RBI's decision to slash the benchmark rate by a "bold" 50 basis points will lead to lower interest rates and improved credit access for borrowers, India Inc said on Friday, asserting that the move will support economic growth amid global they opined that by reverting its stance to neutral from accommodative, the central bank has signalled that it may now pause to assess the full transmission of these cuts, before considering further easing of interest Reserve Bank of India (RBI) on Friday cut interest rates by 50 basis points (bps), the third consecutive reduction, to 5.5 per central bank has also unexpectedly reduced the cash reserve ratio (CRR) for banks by a steep 100 basis points, which will unlock Rs 2.5 lakh crore liquidity to the banking system for lending to productive sectors of the Vardhan Agarwal, President at FICCI, said, "FICCI welcomes RBI's bold and proactive move to slash the repo rate."This front-loaded rate cut sends a strong signal of the RBI's commitment to supporting growth, especially at a time when the Indian economy is navigating multiple headwinds -- from trade uncertainties and geopolitical tensions to financial market volatility," Agarwal Alexander Muthoot, MD of Muthoot Finance , said, "For NBFCs, this is an encouraging move as it creates a favourable environment by lowering borrowing costs and extending affordable credit to under-served communities." "The move, coupled with a lowered inflation outlook, is likely to support domestic consumption and stimulate credit demand in the coming quarters. Overall, we view this as a timely and positive intervention that can support a stronger credit cycle in FY26," Muthoot Banerjee, Partner and Leader - Economic Advisory at PwC India, said the policy rate easing, combined with the liquidity increase for banks when system liquidity is already comfortable, is likely to add a second engine to the consumption growth flight that is anticipated to be already in flight from the income tax cuts taking effect in FY26."With inflation under control, supporting growth is the main objective, especially considering the uncertainty in global trade. The RBI continues to peg FY26 growth at 6.5 per cent, but clearly sees a need to stimulate private demand and capital formation. This (liquidity) gives banks more headroom to transmit lower rates and improve credit flow - both to consumers and businesses," Vijay Kuppa, CEO of InCred Money, Goswami, CIO & MD - India Fixed Income at Franklin Templeton, said the RBI's bold move has surprised markets and underscores a clear pivot towards supporting growth amid subdued economic momentum and easing inflation."Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank , said, "The higher-than-expected repo rate cut comes along with a shift in the stance back to neutral. This clearly points towards future decisions being more data-dependent, given the significant global uncertainties."Gaura Sengupta - Chief Economist at IDFC FIRST Bank , said, "The front-loading of the rate cut action plus CRR cut indicates focus is on enhancing the transmission of monetary policy. The neutral stance indicates that the bar for further rate cut is higher but isn't completely off the table. In the next few policies, we expect the RBI to remain on pause".The RBI MPC decision will support India's growth amidst continued global volatilities, Hemant Jain, President at PHDCCI, the latest reduction, the RBI has cut interest rates by 100 basis points in 2025, starting with a quarter-point reduction in February - the first cut since May 2020 - and another similar-sized cut in rate cut comes as the Indian economy slowed to a four-year low of 6.5 per cent in the fiscal year that ended March. RBI projected the economy to grow by the same measure in the current financial year that started on April 1, as rising trade tensions following US President Donald Trump's tariff policies provide central bank lowered its inflation projection to 3.7 per cent for 2025-26 from 4 per cent earlier.
Time of India
27 minutes ago
- Time of India
RBI MPC meet: Central bank cuts CRR by 1%; to unlock Rs 2.5 lakh crore to bank funds by December
NEW DELHI: The Reserve Bank of India (RBI) on Friday announced a 1% cut in the Cash Reserve Ratio (CRR), releasing Rs 2.5 lakh crore into the banking system, in a major move to boost liquidity aimed at supporting lending to productive sectors of the economy. Tired of too many ads? go ad free now The CRR reduction will be implemented in four equal phases and will bring the reserve requirement down to 3% by November 29, 2025. This allows banks to maintain a lower level of 3% liquid cash reserve with the RBI, providing them additional funds for lending activities. The last time the RBI made such a significant CRR cut was on March 27, 2020, when it slashed the ratio by 1% and the repo rate by 75 basis points in response to the Covid-19 crisis. "The Reserve Bank remains committed to provide sufficient liquidity to the banking system. To further provide durable liquidity, it has been decided to reduce the cash reserve ratio (CRR) by 100 basis points (bps) to 3% of net demand and time liabilities (NDTL) in a staggered manner during the course of the year," RBI Governor Sanjay Malhotra said. The implementation will occur in four 25 bps installments, beginning September 6, October 4, November 1 and November 29, 2025, Malhotra continued, while announcing the bi-monthly MPC outcome. "The cut in CRR would release primary liquidity of about Rs 2.5 lakh crore to the banking system by December 2025. Besides providing durable liquidity, it will reduce the cost of funding of the banks, thereby helping in monetary policy transmission to the credit market," he added. Enhanced credit availability will support economic growth, which decreased to a four-year low of 6.5% in FY'25. "I would like to reiterate that we will continue to monitor the evolving liquidity and financial market conditions and proactively take further measures, as warranted," he said. Tired of too many ads? go ad free now The previous CRR reduction of 50 basis points to 4% occurred in December 2024's MPC announcement, implemented in two 25 basis point instalments effective from December 14, 2024 and December 28, 2024. This action released Rs 1.16 lakh crore into the banking system, easing liquidity constraints. Earlier on May 4, 2022, RBI raised the Cash Reserve Ratio (CRR) from 4% to 4.5% during an unscheduled meeting of the Monetary Policy Committee (MPC), with the change taking effect from May 21 that year. However, the RBI kept the Statutory Liquidity Ratio (SLR) unchanged at 18%. Under the SLR rule, banks must hold 18% of their total deposits or net demand and time liabilities (NDTL) in government securities. This requirement helps ensure banks have enough liquidity to meet withdrawal demands and maintain financial stability.
News18
28 minutes ago
- News18
Who Are ‘Man Mums'? The 5-Minute Women-Only Service In China For Rs 600. Know What They Offer
Last Updated: Man mums initially meant strong men who are muscular, but now women choose who to hug based on qualities like kindness, patience, looks and body shape. In China, young women are paying about 50 yuan (approximately Rs 600) for a five-minute hug from men called 'man mums.' This unusual trend is growing on Chinese social media and it offers comfort during stressful times. At first, 'man mums' meant strong, muscular men, but now women choose who to hug based on qualities like kindness, patience, looks and body shape. They arrange meetings through chat apps and hugs usually happen in public places like subway stations or malls. The price for a short hug usually costs between 20 to 50 yuan (approximately Rs 200 to Rs 600). According to the South China Morning Post, Zhou, who has hugged 34 times, said he earned 1,758 yuan (approximately Rs 21,000) and hopes his hugs help women feel better when they struggle with worries about their body or work pressure. The man offering hugs says he has no plans to turn it into a full time job. For him, charging a small fee helps keep clear boundaries. It makes the experience feel more professional and less personal. Another man who has given hugs a few times said that doing this makes him feel good about himself. He feels more confident and important because he can help others feel better through his hugs. A student feeling uneasy with her thesis shared that she was looking to pay for a hug from a caring and fit man to help relieve stress. She remembered being hugged once back in school and said it made her feel safe. She suggested meeting at an underground station and keeping the hug short. Some women also feel that paying for the hug makes the situation safer and more respectful. It helps avoid misunderstandings or unwanted behaviour, as both sides know the rules and limits from the start. First Published: June 06, 2025, 15:08 IST
