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New RBI chief seeks to improve forecasts, sources say

MUMBAI, Jan 9 (Reuters) – New RBI governor Sanjay Malhotra has initiated a review of the Reserve Bank of India’s inflation and growth forecasting tools to minimise projection errors, four sources said. Malhotra, who took charge last month, is asking the RBI’s internal teams to include new datasets, analysis and projections in their inflation and growth forecasts, sources aware of the central bank’s thinking said. None of the sources wished to be identified as they are not allowed to speak with the media. The RBI did not immediately respond to a Reuters’ email seeking comment. The review comes amid increased

Los Angeles wildfires spread to Hollywood as 100,000 ordered to evacuate

LOS ANGELES, Jan 9 (Reuters) – Raging wildfires surrounding Los Angeles spread to the Hollywood Hills on Wednesday, after other fires in the area killed at least five people, destroyed hundreds of homes and stretched firefighting resources and water supplies to the limit. More than 100,000 people were ordered to evacuate as dry, hurricane-force winds hindered firefighting operations and spread the fires, which have burned parched terrain almost unimpeded since they began on Tuesday. “This firestorm is the big one,” Los Angeles Mayor Karen Bass told a press conference after rushing back to Los Angeles upon cutting short an official

Rise in US bond yields, strong NDF dollar bids push rupee to record low

MUMBAI, Jan 9 (Reuters) – The Indian rupee hit a lifetime low on Thursday, pressured by a rise in U.S. bond yields and strong dollar bids in the non-deliverable forwards (NDF) market while the central bank likely stepped in to cap losses, traders said. The rupee declined to 85.93 per U.S. dollar, weakening past its previous record low of 85.8575 hit in the last session. The currency was at 85.92 as of 9:45 a.m. IST. State-run banks were spotted offering dollars, most likely on behalf of the Reserve Bank of India, which helped limit the rupee’s losses, four traders told

Bidhuri did not speak about his cheeks: Priyanka’s jibe at his controversial comments

New Delhi, Jan 8 (PTI) Congress leader Priyanka Gandhi Vadra on Wednesday dubbed former BJP MP Ramesh Bidhuri’s controversial reference to her cheeks as “ridiculous”, and said important issues should be discussed during the Delhi assembly polls instead of such irrelevant matters. He did not speak about his own cheeks, the Wayanad MP told reporters in a jibe at the BJP’s candidate from the Kalkaji assembly seat as she left after attending a parliamentary panel meeting. It is a “ridiculous remark”, she said, adding that “all this is irrelevant”. “Elections are taking place in Delhi. Important issues should be discussed,”

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