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RBI Governor hints at interest rate cuts

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By NewsGram Staff Writer

Washington: RBI Governor Raghuram Rajan has hinted at cutting interest rates for a fourth time. He admitted that the continuous slow economic growth has become a central problem world over.

“We’ll look at the data as it comes in and take a further view. We have not said we are finished,” he said in an interview with CNBC television in Jackson Hole, Wyoming, where he’s attending an economic symposium.

After cutting its repo rate by 75 basis points this year, the RBI kept the rate on hold at its last policy review, saying it wanted to monitor inflation and wait for lenders to further lower their lending rates.

The RBI, Rajan said, has reached an agreement with the government on a new monetary policy committee that largely meets the goal of transitioning from a system where the governor alone is responsible for decisions in order to insulate it from outside pressure, he said.

The agreement on the new rate setting panel was different from a proposal circulated in July that would allow the government to appoint the majority of members.

“There’s an agreement with the government, which is not that plan,” Rajan said. He didn’t give more details.

The committee would replace the current rate-setting system once the RBI Act of 1934 is amended in parliament.

Having a committee would make it easier for individuals to resist pressure and ensure that “monetary policy doesn’t change overnight” if one person drops out, Rajan said.

“We also need a transition path from where we are now to that committee,” he said. “It can’t be that overnight the committee takes over and nobody understands what the views of the committee are.”

Rajan said that he sees a “mood of optimism” in India’s economy and that the nation is relatively insulated from a slowdown in China.

He called for lawmakers to overcome their differences to implement a goods and services tax, which he said, would be “one of the most important changes in India”.

He also said a proposed bankruptcy code would also be “extremely important“.

“If we can get a good bankruptcy code, we can start issuing long-term bonds, which is absolutely necessary to finance infrastructure, finance all the big things the government plans,” Rajan said.

He also cautioned the US federal reserve on going ahead with a rate hike, especially at a time when world economic growth is stalling which has led to massive volatility in currency, equity and commodity markets.

“My position over time has been don’t do it when the world is in turmoil,” Rajan told CNBC. “It’s a long anticipated event, it has to happen sometime…everybody knows it has to happen..but pick your time.”

Earlier on Friday Federal Reserve Vice Chairman Stanley Fischer told CNBC that it was too early to tell whether volatility in the market made it more or less compelling to raise rates at the central bank’s mid-September policy meeting.

(With inputs from IANS)

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Most Advanced Radiation Therapy For Cancer Patients Arrives in India

With the most recent introduction of Radixact X9, radiation oncology has reached a new horizon in the race of effective curative treatment for cancer

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Cancer
Cancer Patients find it more comfortable to be treated under this technology owing to the rotational helical mechanism, also the set-up time is lesser as compared to other therapies. Pixabay

Indraprastha Apollo Hospital in New Delhi on Friday launched the most advanced version of TomoTherapy Radixact X9– the smartest radiation therapy to treat the most complicated cancer tumours.

Tomotherapy comes as a boon for cancer treatment since it has a higher degree of precision, speed and accuracy.

Patients find it more comfortable to be treated under this technology owing to the rotational helical mechanism, also the set-up time is lesser as compared to other therapies.

“The launch of the most advanced version of the Tomotherapy technology is truly a remarkable development in the field of Radiation Oncology. This will be a revolutionary step in the treatment of cancer. With this system we can deliver both fractionated radiotherapy as well as SBRT and Radiosurgery,” said Suneeta Reddy, Managing Director, Apollo Hospitals Group.

“The new generation radiation machine and our highly experienced team enables us to move ahead towards precise and personalised care, therefore improving the quality of life of cancer patients and ensure better clinical outcomes,” Reddy added.

Tomotherapy is effective in treating cancer, irrespective of the stage, especially multiple metastasis. The best outcomes are for treatment of bilateral breast cancer, paediatric oncology and all other forms of cancer.

Cancer
Indraprastha Apollo Hospital in New Delhi on Friday launched the most advanced version of TomoTherapy Radixact X9– the smartest radiation therapy to treat the most complicated cancer tumours. Pixabay

“We are taking precision and excellence to the next level with the revolutionary Radixact-X9: Tomotherapy, system powered by state-of-the-art 3D CT imaging. It uses a linear accelerator to deliver high-dose radiation to the tumour with sub-millimetre precision,” said P ShivaKumar, Managing Director, Indraprastha Apollo Hospitals.

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“With the most recent introduction of Radixact X9, radiation oncology has reached a new horizon in the race of effective curative treatment for cancer. Large field size can be targeted at once. 1.35 cms of length can be targeted without repositioning the machine,” ShivaKumar added. (IANS)