The RBI monetary policy committee will announce the outcome of its meeting. It is expected that the MPC will maintain status quo on key interest rates. Despite softening crude oil prices and a stabilising rupee, the MPC members are likely to look through the recent spike in retail inflation, await more clarity on the impact of the revision in the minimum support price formula for kharif crops and monsoon rain, and favour a ‘wait-and-watch’ approach. The central bank had raised the repo rate by 25 basis points from 6 per cent to 6.25 per cent even as it persisted with its neutral policy stance in the second bi-monthly monetary policy review on June 6.
Karnataka Aadhaar Act 2018 comes into force today. The State Act will enable departments to make Aadhaar mandatory for delivery of State-funded services, benefits, and subsidies. However, the departments have been cautioned against excluding beneficiaries from any scheme for lack of Aadhaar.
Uttarakhand's complete ban on single use plastic bags, cutlery and thermocol comes into force today. The State is the third after Maharashtra and Uttar Pradesh to enforce such a ban.
India and England will clash in the first of the five-match Test series starting in Birmingham today. The English side will be celebrating its 1,000th Test at Edgbaston, and it will be up to world No.1 India to spoil the home party. India last won a Test series in England in 2007 under Rahul Dravid, and it will be no easy task ahead of the Virat Kohli-led side to duplicate the feat.
Former Union Minister P Chidambaram's plea for anticipatory bail in the INX Media case will come up for hearing at the Delhi High Court. Last week, the court had granted interim protection to Chidambaram from arrest and directed the Enforcement Directorate not to take any coercive step till August 1 against him in the INX Media money laundering case.