tadepalligudem l monday l february 6, 2023 l `9.00 l PAGES 12 l city EDITION Centre blocks 232 foreign apps, including chinese The apps allegedly facilitated betting, gambling and unauthorised loan services, according to sources ‘apps threatened India’s economic stability’ Action amid harassment complaints On the direction of Union Home Ministry, the Ministry of Electronics and IT issued an order to block 138 apps that were involved in betting and gambling on Saturday night. Separately, an order to block 94 apps engaged in unauthorised loan services was issued on Sunday. As per an official, the apps posed a threat to India’s economic stability ■ The action was taken under Section 69A of the IT Act. The apps had material prejudicial to the sovereignty and integrity of India and were under government’s observation, sources said ■ The ban comes amid complaints of harassment and extortion by representatives of lending apps with links to China 288 apps have been under the radar of the govt for the past six months CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI RBI to hike rate Kargil war architect Musharraf no more by 25 bps before pausing: Experts Y e s h i S e l i @ New Dehli Softening retail inflation to weigh in Feb Monetary Policy Committee meeting D i pa k M o n da l @ New Delhi AS the Monetary Policy Committee (MPC) of the Reserve Bank of India is set to meet during February 6-8 to decide the benchmark lending rates, most experts see another 25 basis-point (bps) increase in the short-term repo rates. However, some see chances of a ‘pause’ in rate hike given the slowing down of inflation, and recessionary outlook going forward. The banking regulator has been on a rate hike spree since May 2022 when it increased the repo rate, the rate at which RBI offers short-term loans to banks, by 40 bps for the first time in two years. Ever since, it has jacked up the repo rate by 225 bps in all. As for retail inflation, it has moderated after peaking at 7.8% in April 2022. It fell to 5.88% in November and 5.72% in December, going below RBI’s upper tolerance level of 6% and giving hope to analysts that the rate hike cycle is likely to end. Now, however, most experts feel the MPC won’t let its guard down against inflation and will go ahead with a hike before hitting the pause button. “We believe RBI is at the end of its policy tightening cycle. A combination of rate hikes and liquidity normalisation has already resulted in an effective tightening in policy rates by nearly 300 bps, and we expect a final 25 bps hike in the February 8 policy meeting to 6.50%,” says a note from Nomura, a global financial services group. Nomura expects RBI to take a pause after February and even , start cutting interest rates from August 2023. Yuvika Singhal, economist with QuantEco Research, also says RBI will raise the repo rate by 25 bps before pausing. “At this week’s meeting, we are looking at possibly one last rate hike by the RBI MPC in its current hiking cycle,” says Sreejith Balasubramanian, Indian Economist at IDFC AMC. The 225 bps hike in repo rates since May 2022 has seen both lending & bank deposit rates going up significantly . Home loans are now attracting over 9% interest from the lows of 6.5% last year. Bank deposit rates have also gone up, albeit at a slower pace, to 7-7.5% for 2-5 year tenure. According to Pankaj Pathak, fund manager at Quantum AMC, there could be a pause in the February MPC given the ease in external factors and inflation. Former Pakistan ruler General Pervez Musharraf survived many assassination attempts but succumbed to a rare disease on Sunday. He was 79 and suffering from amyloidosis, an incurable disease that occurs when an abnormal protein called amyloid builds up in organs and tissues throughout the body He had been undergo. ing treatment at the American Hospital in Dubai. Musharraf, a cunning military officer who was the architect of the 1999 Kargil war, was living in self-imposed exile in the UAE to avoid criminal charges against him back home. In December 2019, a special court had handed Musharraf a death sentence in a treason case against him. However, the sentence was nullified later by Pervez Musharraf  a higher court. Born in Delhi, Musharraf rose to prominence when he was made a four star general and the head of armed forces in 1998 by the then Pak prime minister Nawaz Sharif. He led the Kargil infiltration that brought India and Pakistan to the verge of a fullfledged war in 1999. This strained his relations with 11 Aug 1943  5 Feb 2023 Sharif, who finally dismissed him from the command of the military . However, the wily general overthrew the Sharif-led government in a bloodless coup and took over as the 10th president of Pakistan in 2001. His first action after the Supreme Court validated his coup was to exile Sharif from Pakistan, banning him from returning to PM Modi to inaugurate Asia’s largest chopper manufacturing unit in K’taka Express News Service @ Bengaluru Prime Minister Narendra Modi will dedicate to the nation the Hindustan Aeronautics Limited’s (HAL) new greenfield helicopter factory at Bidarehallakaval at Nittur near Tumakuru in Karnataka at 3.30 pm on Monday He had laid . the foundation stone for the project in 2016. But there will be no fly-past at the event as certain parameters are yet to be met, sources said. According to the Prime Minister’s Office, it is yet another step towards Atma Nirbharta in the defence sector which will enhance capacity and ecosystem to build helicopters at Asia’s largest helicopter manufacturing facility Initially . , the unit will manufacture the Light Utility Helicopter (LUH), which is an indigenously designed and developed 3-tonne class, single-engine, multipurpose utility helicopter with unique features of high manoeuvrability . The factory spread across 615 , acres, will be expanded to manufacture other choppers, like the Light Combat Helicopter (LCH) and Indian Multirole Helicopter (IMRH). The facility will also be used for repair and overhaul of LCH, LUH, Civil ALH and IMRH in the future. The factory has the potential to export Civil LUHs in years to come. The new facility can meet the country’s entire requirement of helicopters, and will attain the distinction of enabling self-reliance in helicopter design, development and manufacture in the country . Student ‘suicide’ triggers violence, angry kin ransack college in Gudur E x p r e s s N e w s S e r v i c e @ Tirupati Tension prevailed at Narayana Engineering College in Gudur town of Tirupati district on Sunday when the parents of a student, who allegedly died by suicide, ransacked the college property while holding the management responsible for his death. 21-year-old Dhaneswara Reddy who hailed from Pulivendu, la in Kadapa district, was pursuing his second year in Computer Science Engineering. He was allegedly found hanging in his hostel room on Saturday night. The inmates intimated the hostel warden Srinivasulu Naidu. On learning about the incident, the shocked 57-year-old collapsed on the spot after suffering a Protesting relatives of the deceased student vandalise college property in Tirupati district on Sunday | Express heart attack. Following which, the hostel staff shifted him to a nearby hospital, where he died while receiving treatment. According to police, the relatives of the 21-year-old student, who rushed to the college the n e x t d a y, a l l e g e d t h a t Dhaneshwar under no circum- stance would have taken the extreme step and blamed the college authorities for the death. In fact, high drama unfolded when they staged a protest in front of the college demanding action against the management. The kin of the student, later, went on a rampage and allegedly ransacked the office and vandalised equipment in the college canteen. On receiving infor mation, Gudur police rushed to the spot and controlled the situation by pacifying the angry family members. Police reportedly seized a knife from the student’s bag. The body has been shifted to Gudur Area Hospital for autopsy A case has been registered, . however, the reason behind the death is yet ascertained. e x pre s s rea d Western Uttar Pradesh leads in G-20 investment proposals Victory is ensured when learning is involved, says PM Lucknow: Of the investment proposals worth `21 lakh crore received so far by Uttar Pradesh government in the run up to the Global Investors’ Summit, western UP is leading with 45 per cent of the total proposals and MoUs signed for investment in this region. As per official sources, western UP is followed by eastern region with 29 per cent of the total proposals. Jaipur: Prime Minister Narendra Modi addressed the Jaipur Mahakhel via video conferencing on Sunday. BJP MP and former I&B minister Rajyavardhan Singh Rathore has been organizing ‘Jaipur Mahakhel’ in his Lok Sabha constituency of Jaipur Rural since 2017. In the final match of the tournament on Sunday, PM Modi addressed the youth at this sports event via video conference. BOOM IN THE AIR The downing of the suspected Chinese spy balloon by a missile from an F-22 fighter jet created a spectacle off the coast of South Carolina. China angrily voiced its strong dissatisfaction and said it make necessary responses | AP/PTI the country for 10 years. During seven years in office, Muharraf oversaw a stint of economic growth while dodging three assassination attempts. He won a five-year term as president in a 2002 referendum but reneged on the promise to quit as army chief until late 2007. His plan to return to power in 2013 was thwarted after he was disqualified from contesting elections.During the decade of his rule as Pak president, Musharraf had five meetings with Indian PMs – two with Atal Behari Vajpayee and three with Dr Manmohan Singh. All these meetings added to the list of lost opportunities to improve bilateral ties between the two countries. Musharraf ’s visit to India in 2001 for the Agra summit was considered one of the most significant meetings of leaders between the two countries. bharat Biotech sends 3 lakh nasal shots Bharat Biotech has delivered 3 lakh doses of its nasal vaccine to private hospitals across India, the pharma head Krishna Ella said on Sunday Sustainable Goals, climate on G20 agenda India’s G-20 presidency, says former CEO NITI Aayog Amitabh Kant, who is the G20 Sherpa, has come amid several crises besetting the world, and these primarily concern the geopolitics in Europe, mainly stemming from the Russia-Ukraine war. India’s priorities are about accelerating the pace of implementation of the Sustainable Development Goals (SDGs). “It’s also about digital-led development, which India has demonstrated through its digital transformation,” he said. Excerpts: countries. Technological innovations have so far come from the developed world. For the first time a developing country like India would be able to showcase its technology . Shahid Faridi: What is the one big idea you propose that will make people remember India’s G20 presidency? Kant: We have 12 working groups, and eight tracks on the finance front. We have several engagement groups, each working on 3-4 broad priorities regarding inclusive and resilient growth, green climate action, and accelerating the pace of life. To my mind, we should lead towards green development and get the backing of all Preetha Nair: India has always been the voice of Global South. How are we going to position India? Kant: The Prime Minister recently interacted with 125 countries belonging to the Global South. A lot of ideas came in. The important thing is that there should be far more sharing of the experiences of the developed world. Both sides need to learn from each other. Another key challenge is the global debt that many face. OLD AGE HOMES ON RISE Spandana prog comes to rescue of elderly parents B a n d h a v i A n n a m @ Guntur 80-year-old Mehboob Khan, a native of Guntur, was abandoned and forced to fend for himself after he was allegedly harassed by his three sons. A gold merchant by profession, his sons allegedly grabbed all his property, physically abused and tortured him for more money Unable to bear the . harassment, Mehboob Khan attended the Spandana programme recently. He urged to the police to allow him to end his life. Remember, an attempt to suicide is a punishable offence. There have been umpteenth number of cases where senior citizens are neglected and abused by their children for want of money . Burdened by the pain of ignorance, the elderly are forced take shelter at old age homes in their twilight years. This, in turn, has led to an astonishing rise in the number of old age homes across the country . According to the Ministry of Social Justice and Empowerment, Andhra Pradesh stood second in the country with with 2,000 elderly people living in 75 old age homes in 2021. While Odisha topped with over 2,500 elderly people in 91 old age homes, Tamil Nadu ranked third with 1,795 senior citizens taking shelter in 66 old age homes. The number of homes have risen substantially last year as well. According to the Technical Group on Population Projections for India and States, there are 728 old age homes across the country currently. Non-fulfilment of the needs of the elderly by the child is a human rights’ violation. Various measures have been taken by the governments and courts from time to time to curb this, but the dissolution of joint families and the increasing trend of nuclear families have made the situation even worse. According to experts, there has been a growing trend of elderly people, who own property and wealth, opting for old P4 age homes.