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Raksha Bandhan or Rakhi: The Thread of Love

Raksha Bandhan, or also known as Rakhi is a Hindu festival, which celebrated in many parts of the Indian subcontinent, or Nepal. Meaning of Raksha bandhan is “bond of protection”.  It is observed on the full moon day of the Hindu lunisolar calendar of Shravana month, which falls in Gregorian calendar of August month.

The festival is symbol of the love and duty between brothers and sisters. It is also used to celebrate any brother-sister type of relationship between men and women who may or may not be biologically related. On Raksha Bandhan, a sister ties a rakhi on her brother’s wrist with a prayer for his happiness and prosperity. This represents the sister’s love towards his brother. The brother gives her a gift & a promise to protect her.

This frail of thread of Rakhi is considered as stronger than iron chains as it binds the most beautiful relationship in an inseparable bond of love and trust. Rakhi is a sacred thread of Rakhi is a sacred thread of protection embellished with love & affection of a sister for her brother.

Rakhi festival also has a social significance because it underlines the notion that everybody should live in harmonious coexistence with each other. Not a single festival in India is complete without the typical Indian festivities, the gatherings, and celebrations, exchange of sweets and gifts, lots of noise, singing and dancing.

Raksha bandhan is also celebrated by some Jains and Sikhs, by Hindu communities in other parts of the world. Among the Jains, Jain priests give threads to devotees. Raksha Bandhan has been an important tradition in the history of Sikhism as well. In Nepal, the festival is called Rishitarpani or Janai Purnima, involving a sacred thread ceremony, one observed by Hindus and Newar Buddhist communities.

Raksha Bandhan as a religious festival focuses on performing the aarti and saying prayers prior to tying the rakhi. The prayers draw inspiration from the Hindu scriptures. Raksha Bandhan in Sanskrit literally means “the tie or knot of protection”. The word Raksha means protection, while Bandhan is the verb to tie.

“The memories may fade away with time but the love and special bond we share will grow ever stronger with each day… Home Search Wishes you all Happy Raksha Bandhan!”

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RBI expected to hold interest rates at Tuesday’s review

 

RBI expected to hold interest rates at Tuesday’s review

The Reserve Bank of India (RBI) is expected to hold key interest rates at its monetary policy review, its second after November’s note ban, in the wake of banks being flush with funds post-demonetisation and a firming up of global oil prices.
As a result of the surge in bank deposits following the recent demonetisation of high-value currency, lending rates have fallen by up to 1 per cent.Industry chamber FICCI, has said that the RBI is likely to maintain status quo in the upcoming monetary policy and cut rates in the first half of the next fiscal beginning April 1.
Earlier in December, the RBI’s Monetary Policy Committee (MPC), during its second bi-monthly monetary policy review, the fifth of the fiscal, kept the repurchase rate, or the short-term lending rate it charges on borrowings by commercial banks, unchanged at 6.25 per cent.
According to the panel, its decision to keep the key lending rates unchanged was taken after considering various global and local factors, such as a likely hike in the US interest rates, which has since been effected by the US Federal Reserve.
Moreover, acting as a further constraint for the central bank, retail inflation rose for the fifth straight month in December, touching 5.61 per cent on the back of higher vegetable and cereal prices. In this connection, while state-run oil marketers failed to make the fortnightly revision in transport fuel prices due earlier this week, the Indian basket of crude oils closed trade on the last trading day on Thursday at over $55 a barrel, latest official data showed.Rising oil prices present a challenge to India’s growth, said the Economic Survey presented in Parliament earlier this week.
“Price of crude oil (Indian basket) has increased from $39.9 in April 2016 to $52.7 in December 2016. For the next financial year, the recent uptick in global commodity prices, in particular crude oil prices, pose an upside risk,” it said.