Gold prices recovered by Rs.100 to Rs.29,850 per 10 grams at the bullion market on Thursday on positive global cues and uptick in demand from local jewellers.

Silver also rebounded by Rs.100 to Rs.43,200 per kg due to increased offtake by industrial units and coin makers.

Bullion traders attributed the recovery in gold prices to a firm trend overseas amid increased buying by local jewellers to meet ongoing marriage season demand.

Globally, gold rose 0.15 per cent to $1,237.20 an ounce and silver spurted 0.28 per cent to $17.98 an ounce in New York in Wednesday's trade.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity recovered by Rs.100 each to Rs.29,850 and Rs.29,700 per 10 grams, respectively. It had lost Rs.200 on Thursday.

Sovereign, however, remained steady at Rs.24,500 per piece of eight grams.

Silver ready too edged up by Rs.100 to Rs.43,200 per kg, while weekly-based delivery shed Rs.65 to Rs.42,590 per kg for want of support from speculators.

Silver coins, however, continued to trade at previous level of Rs.73,000 for buying and Rs.74,000 for selling of 100 pieces.

The BSF on Thursday told Delhi High Court that a "very transparent system" was in place to ensure quality diet for the troopers since their "health and safety" was a prime responsibility.

"Border Security Force (BSF) periodically supervises the food supplied to its personnel to ensure its quality," a BSF official said while filing an affidavit on a Public Interest Litigation (PIL) after a constable's allegation that troopers posted along the Line of Control (LoC) were served meagre and poor quality food.

On January 9, BSF constable Tej Bahadur Yadav had uploaded a video on social media complaining about "poor quality of food" provided to the troopers and also alleged that the senior officials illegally sold off the food supplies meant for the troopers.

Denying the allegation of poor quality food, the force said it was "making all efforts to ensure a transparent and effective measure for the procurement as well as distribution of healthy diet to all its personnel".

The court, taking up the PIL filed by a former central government employee Puran Chand Arya, had asked the BSF and the Centre to file their response before February 27, the next date of hearing.

The PIL had sought an explanation from the Centre about the ration procurement and preparation as well as serving of food to all categories of ranks.

The BSF, in its affidavit, said: "The food is cooked and distributed in BSF messes under the supervision of mess commander who is selected by troops from among the dinning members through a monthly mess meeting held on the 25th of each month under the supervision of the Company Commander."

"Random checking of cooked food is carried out by duty subordinate officer and duty supervisory officer and record maintained in food Checking Register."

In all BSF establishments, there is a system for recording the complaints/grievances of its personnel to be considered and the decision is conveyed to him on priority and maximum within 60 days, the affidavit stated.

Yadav or any other trooper of the battalion never approached the grievance redressal system, the BSF asserted.

"A detailed Staff Court of Inquiry (SCOI) has also been ordered to enquire into the allegations made by Yadav through video and same has been concluded and further action will be taken in accordance with the law," it added.

Around 55 per cent of 1.84 crore voters exercised their franchise till 4 PM on Thursday in the fourth phase of polling in Uttar Pradesh.

"Polling is going on at a rapid pace in 53 assembly constituencies spread over 12 districts, including the backward Bundelkhand region," the CEO office said here.

The pace of voting was slow in the first few hours but picked up as the day advanced. The exercise was by and large peaceful in view of tight security arrangements.

Inter district and inter state borders have been sealed and patrolling by security forces has been intensified in poll-bound areas. Most of the sensitive polling centres are being manned by the personnel of Central Paramilitary Forces.

680 candidates are in the fray in this phase which covers Rae Bareli, Pratapgarh, Kaushambi, Allahabad, Jalaun, Jhansi, Lalitpur, Mahoba, Banda, Hamirpur, Chitrakoot and Fatehpur districts.

The BSP has fielded its nominees in all seats, while BJP's nominees are in 48 constituencies. The BJP has left 6 seats for its ally Apna Dal. The SP nominees are in contest in 30 segments and its ally, the Congress, is in contest from 25 constituencies.

In 2012 polls, out of the 53 seats in this phase, the Samajwadi Party had won 24, BJP 5, the Bahujan Samaj Party 15, the Congress 6 and others had got 3.

Elections for the UP legislative Assembly are being held in seven phases, with three more on February 27, March 4 and 8 to follow after today's polling. Results will be out on March 11.

Around 55 per cent of 1.84 crore voters exercised their franchise till 4 PM on Thursday in the fourth phase of polling in Uttar Pradesh.

"Polling is going on at a rapid pace in 53 assembly constituencies spread over 12 districts, including the backward Bundelkhand region," the CEO office said here.

The pace of voting was slow in the first few hours but picked up as the day advanced. The exercise was by and large peaceful in view of tight security arrangements.

Inter district and inter state borders have been sealed and patrolling by security forces has been intensified in poll-bound areas. Most of the sensitive polling centres are being manned by the personnel of Central Paramilitary Forces.

680 candidates are in the fray in this phase which covers Rae Bareli, Pratapgarh, Kaushambi, Allahabad, Jalaun, Jhansi, Lalitpur, Mahoba, Banda, Hamirpur, Chitrakoot and Fatehpur districts.

The BSP has fielded its nominees in all seats, while BJP's nominees are in 48 constituencies. The BJP has left 6 seats for its ally Apna Dal. The SP nominees are in contest in 30 segments and its ally, the Congress, is in contest from 25 constituencies.

In 2012 polls, out of the 53 seats in this phase, the Samajwadi Party had won 24, BJP 5, the Bahujan Samaj Party 15, the Congress 6 and others had got 3.

Elections for the UP legislative Assembly are being held in seven phases, with three more on February 27, March 4 and 8 to follow after today's polling. Results will be out on March 11.

Prime Minister Narendra Modi is spreading hatred in Uttar Pradesh but the voters of the state will elect the Congress-Samajwadi Party (SP) alliance, Congress Vice President Rahul Gandhi said on Thursday.

“Modi ji has lost the elections (UP), he can spread hatred as much as he wants but UP won’t pay heed. Congress and SP will form the government here,” Rahul Gandhi said while the addressing the voters of his Lok Sabha constituency of Amethi.

The Gandhi scion went on to quote a few lines of a famous Hindi film song: “I have a message for those spreading hatred, you will neither become a Hindu nor a Muslim, you are a human being’s child and you will become a human being”.

Polling is on for 53 assembly constituencies spread over 12 districts, including the backward Bundelkhand region in the fourth phase of polling in UP.

Assembly segments in Congress President Sonia Gandhi's Rae Bareli Lok Sabha constituency are among the seats where the electoral exercise is taking place. However, in a first since 1998, Gandhi gave campaigning a miss in her constituency.

Elections for UP legislative assembly are being held in seven phases, with three more on February 27, March 4 and 8 to follow after today's polling. Election results will be out on March 11.

Prime Minister Narendra Modi is spreading hatred in Uttar Pradesh but the voters of the state will elect the Congress-Samajwadi Party (SP) alliance, Congress Vice President Rahul Gandhi said on Thursday.

“Modi ji has lost the elections (UP), he can spread hatred as much as he wants but UP won’t pay heed. Congress and SP will form the government here,” Rahul Gandhi said while the addressing the voters of his Lok Sabha constituency of Amethi.

The Gandhi scion went on to quote a few lines of a famous Hindi film song: “I have a message for those spreading hatred, you will neither become a Hindu nor a Muslim, you are a human being’s child and you will become a human being”.

Polling is on for 53 assembly constituencies spread over 12 districts, including the backward Bundelkhand region in the fourth phase of polling in UP.

Assembly segments in Congress President Sonia Gandhi's Rae Bareli Lok Sabha constituency are among the seats where the electoral exercise is taking place. However, in a first since 1998, Gandhi gave campaigning a miss in her constituency.

Elections for UP legislative assembly are being held in seven phases, with three more on February 27, March 4 and 8 to follow after today's polling. Election results will be out on March 11.

The Salt Lake Stadium, which is getting ready to host the FIFA U-17 World Cup in October, will be almost ready for the youth showpiece by the end of March when the FIFA delegation visits for another round of inspection, tournament Director Javier Ceppi said here on Thursday.

"I am extremely satisfied with the progress of the stadium," Ceppi told reporters, after a recce of the under-construction colossal venue, which after renovation will have a capacity of 87,000 spectators.

"We have to realise that the stadium is huge. So works here take time, but the amount of progress that we have seen from three weeks till now has been fantastic," Ceppi, who touches down in the eastern metropolis almost every month to take stock of the progress, said.

"Everything is on track. Because of the dimensions of the stadia it would not have been possible to complete work by 31st of January. Stadium will be completed well in time for the World Cup. By the next FIFA inspection in March, we would see 90-95 per cent completion," Ceppi earmarked.

Aroop Biswas, the state Youth Services and Sports minister had said that by January 31 the stadium would be ready.

Asked about the ticket prices, Ceppi said: "The prices will be lesser than a movie ticket. I can say that one would be able to watch a World Cup match for less than Rs.100.”

Ceppi vouched that the turf does not need international friendly matches before the World Cup to test the turf as other areas are much more of a concern that the playing surface.

"You can do training on the turf and that's how you test the turf. The testing of the venue has much less to do with the ground and more about say how the media tribune works, how the flows of people work," he said

The U-17 World Cup, the sport's third most important tournament globally and the most high-profile football event the country is hosting, will he held across six cities – New Delhi, Kolkata, Guwahati, Margao, Kochi and Navi Mumbai – from October 6 to 28.

There have been questions about Delhi's pollution putting a spanner to the works during the World Cup as it will start in October, the time of the year smog can play a part. Ceppi cleared the air saying that there will be matches in Delhi and precautions will be taken to water down impact of pollution.

"We know that there is an air quality concern post Diwali in Delhi. But it has nothing to do with Delhi hosting matches. What we will analyse now is post Diwali what are the issues we need to address," Ceppi 

As many as 24 teams, including hosts India, will take part in the tournament which will have 52 matches and played before an expected global audience of over 200 million in 200 countries.

The Salt Lake Stadium, which is getting ready to host the FIFA U-17 World Cup in October, will be almost ready for the youth showpiece by the end of March when the FIFA delegation visits for another round of inspection, tournament Director Javier Ceppi said here on Thursday.

"I am extremely satisfied with the progress of the stadium," Ceppi told reporters, after a recce of the under-construction colossal venue, which after renovation will have a capacity of 87,000 spectators.

"We have to realise that the stadium is huge. So works here take time, but the amount of progress that we have seen from three weeks till now has been fantastic," Ceppi, who touches down in the eastern metropolis almost every month to take stock of the progress, said.

"Everything is on track. Because of the dimensions of the stadia it would not have been possible to complete work by 31st of January. Stadium will be completed well in time for the World Cup. By the next FIFA inspection in March, we would see 90-95 per cent completion," Ceppi earmarked.

Aroop Biswas, the state Youth Services and Sports minister had said that by January 31 the stadium would be ready.

Asked about the ticket prices, Ceppi said: "The prices will be lesser than a movie ticket. I can say that one would be able to watch a World Cup match for less than Rs.100.”

Ceppi vouched that the turf does not need international friendly matches before the World Cup to test the turf as other areas are much more of a concern that the playing surface.

"You can do training on the turf and that's how you test the turf. The testing of the venue has much less to do with the ground and more about say how the media tribune works, how the flows of people work," he said

The U-17 World Cup, the sport's third most important tournament globally and the most high-profile football event the country is hosting, will he held across six cities – New Delhi, Kolkata, Guwahati, Margao, Kochi and Navi Mumbai – from October 6 to 28.

There have been questions about Delhi's pollution putting a spanner to the works during the World Cup as it will start in October, the time of the year smog can play a part. Ceppi cleared the air saying that there will be matches in Delhi and precautions will be taken to water down impact of pollution.

"We know that there is an air quality concern post Diwali in Delhi. But it has nothing to do with Delhi hosting matches. What we will analyse now is post Diwali what are the issues we need to address," Ceppi 

As many as 24 teams, including hosts India, will take part in the tournament which will have 52 matches and played before an expected global audience of over 200 million in 200 countries.

The Indian economy is growing strongly and remains a bright spot in the global landscape despite temporary setback due to demonetisation, a senior IMF official has said.

In its annual country report on India, the International Monetary Fund (IMF) on Wednesday said growth is expected at 6.6 per cent in this fiscal year and at 7.2 per cent in the following year.

"The Indian economy is growing strongly and remains a bright spot in the global landscape," the IMF mission chief for India, Paul Cashin said.

Cashin said the halving of global oil prices that began in late 2014 boosted economic activity in India, further improved the external current account and fiscal positions, and helped lower inflation.

In addition, continued fiscal consolidation, by reducing government deficits and debt accumulation, and an anti-inflationary monetary policy stance have helped cement macroeconomic stability, he added.

Noting that the government has made significant progress on important economic reforms, which will support strong and sustainable growth going forward, Cashin said the upcoming implementation of the goods and services tax (GST) will help raise India s medium-term growth to above 8 per cent.

GST will enhance the efficiency of production and movement of goods and services across Indian states, he said.

However, there is little scope for complacency.

"A key concern for us is the health of the banking system, which is still dealing with a large amount of bad loans, and also heightened corporate vulnerabilities in several key sectors of the economy," he said.

Responding to a question on demonetisation, he said the strong shortage of cash has disrupted economic activities.

However, he said the Indian Government appears to have that taken measures to alleviate payment disruptions, such as temporarily allowing use of old banknotes for purchases of fuel and agricultural inputs, have helped mitigate the negative impact.

"So we expect the slowdown to be limited and relatively short-lived and the financial system to come through unscathed. Of course, potential loan repayment risks should be monitored carefully, particularly given an already elevated level of non-performing loans," Cashin said.

The Indian economy is growing strongly and remains a bright spot in the global landscape despite temporary setback due to demonetisation, a senior IMF official has said.

In its annual country report on India, the International Monetary Fund (IMF) on Wednesday said growth is expected at 6.6 per cent in this fiscal year and at 7.2 per cent in the following year.

"The Indian economy is growing strongly and remains a bright spot in the global landscape," the IMF mission chief for India, Paul Cashin said.

Cashin said the halving of global oil prices that began in late 2014 boosted economic activity in India, further improved the external current account and fiscal positions, and helped lower inflation.

In addition, continued fiscal consolidation, by reducing government deficits and debt accumulation, and an anti-inflationary monetary policy stance have helped cement macroeconomic stability, he added.

Noting that the government has made significant progress on important economic reforms, which will support strong and sustainable growth going forward, Cashin said the upcoming implementation of the goods and services tax (GST) will help raise India s medium-term growth to above 8 per cent.

GST will enhance the efficiency of production and movement of goods and services across Indian states, he said.

However, there is little scope for complacency.

"A key concern for us is the health of the banking system, which is still dealing with a large amount of bad loans, and also heightened corporate vulnerabilities in several key sectors of the economy," he said.

Responding to a question on demonetisation, he said the strong shortage of cash has disrupted economic activities.

However, he said the Indian Government appears to have that taken measures to alleviate payment disruptions, such as temporarily allowing use of old banknotes for purchases of fuel and agricultural inputs, have helped mitigate the negative impact.

"So we expect the slowdown to be limited and relatively short-lived and the financial system to come through unscathed. Of course, potential loan repayment risks should be monitored carefully, particularly given an already elevated level of non-performing loans," Cashin said.

Describing the violence outside Ramjas College here as an example of "state machinery backed violent intolerance", the CPI-M on Thursday demanded action against ABVP activists involved in the assault as also against the police for connivance.

Wednesday's clashes between the RSS-backed Akhil Bharatiya Vidyarthi Parishad (ABVP) and Left-leaning All India Students Union (AISA) left over a dozen people injured.

The violence erupted a day after the ABVP forced the suspension of an event to be addressed by JNU student Umar Khalid, jailed last year for sedition.

Police have registered a case against unknown persons for rioting and assault on public servants.

The Communist Party of India-Marxist condemned the violence by ABVP "goons" and denounced the Delhi Police.

"This is another shameful example of the violent intolerance backed by the state machinery of the RSS-BJP combine and its various wings against all forms of democratic protest, particularly in universities," it said.

"Delhi Police played the shameful role of facilitator for the ABVP goons and stood by while the protesters were being stoned by them.

"Students and teachers including from the Delhi University Teachers Association and the Academic Council who were marching to the local police station to protest were attacked by the police," it said.

"The CPI-M demands that all those who indulged in violence to disrupt the seminar and attack the democratic protest should be arrested. Action must be taken against the Delhi Police personnel who connived with the ABVP."

Describing the violence outside Ramjas College here as an example of "state machinery backed violent intolerance", the CPI-M on Thursday demanded action against ABVP activists involved in the assault as also against the police for connivance.

Wednesday's clashes between the RSS-backed Akhil Bharatiya Vidyarthi Parishad (ABVP) and Left-leaning All India Students Union (AISA) left over a dozen people injured.

The violence erupted a day after the ABVP forced the suspension of an event to be addressed by JNU student Umar Khalid, jailed last year for sedition.

Police have registered a case against unknown persons for rioting and assault on public servants.

The Communist Party of India-Marxist condemned the violence by ABVP "goons" and denounced the Delhi Police.

"This is another shameful example of the violent intolerance backed by the state machinery of the RSS-BJP combine and its various wings against all forms of democratic protest, particularly in universities," it said.

"Delhi Police played the shameful role of facilitator for the ABVP goons and stood by while the protesters were being stoned by them.

"Students and teachers including from the Delhi University Teachers Association and the Academic Council who were marching to the local police station to protest were attacked by the police," it said.

"The CPI-M demands that all those who indulged in violence to disrupt the seminar and attack the democratic protest should be arrested. Action must be taken against the Delhi Police personnel who connived with the ABVP."

Among the three soldiers martyred in an ambush by terrorists on Thursday in the Shopian area, Lance Naik Ghulam Mohiuddin Rather was a local Kashmiri jawan.

Incidentally, he belonged to village Punchpora in South Kashmir near the place of ambush where he lost his life. He leaves behind his wife and a minor son.

The other martyr has been identified as Sapper Sreejith MJ of village Paruthipully  in Palakkad district of Kerala. He is survived by his mother. 

Sepoy Vikas Singh Gurjar, another martyer, belonged to village Andhyakhara in district Karouli in Rajasthan. He is survived by his wife.

Chief Minister, Mehbooba Mufti condemned the death of the army personnel and said that violence can be never be used to address issues.

She further said that the unending cycle of violence in the state has brought untold miseries to the people and collective efforts are needed to get the state out of the morass of death and destruction.

She also expressed deep grief and anguish over the death of a civilian in the incident.

The incident took place in the early morning hours, and the Hizbul Mujahideen men are said to be involved in the attack.

Among the three soldiers martyred in an ambush by terrorists on Thursday in the Shopian area, Lance Naik Ghulam Mohiuddin Rather was a local Kashmiri jawan.

Incidentally, he belonged to village Punchpora in South Kashmir near the place of ambush where he lost his life. He leaves behind his wife and a minor son.

The other martyr has been identified as Sapper Sreejith MJ of village Paruthipully  in Palakkad district of Kerala. He is survived by his mother. 

Sepoy Vikas Singh Gurjar, another martyer, belonged to village Andhyakhara in district Karouli in Rajasthan. He is survived by his wife.

Chief Minister, Mehbooba Mufti condemned the death of the army personnel and said that violence can be never be used to address issues.

She further said that the unending cycle of violence in the state has brought untold miseries to the people and collective efforts are needed to get the state out of the morass of death and destruction.

She also expressed deep grief and anguish over the death of a civilian in the incident.

The incident took place in the early morning hours, and the Hizbul Mujahideen men are said to be involved in the attack.

India's rate cutting cycle has come to an end and policy rates are likely to be on hold throughout 2017 as inflation is expected to stay above the Reserve Bank's target, says a Nomura report.

The minutes from the Reserve Bank's February 8 policy meeting shows that focus has shifted to lowering inflation towards the medium term target of 4 per cent.

The Japanese brokerage firm said growth is expected to bounce back as the economy is remonetised and inflation, which is a key factor for RBI's policy decision, is also expected to inch higher owing to firming up of rural wages.

"We believe India's rate cutting cycle has come to an end because growth should gradually bounce back as the economy is remonetised…

"…we expect inflation to also inch higher towards 5.5-6.0 per cent in second half of 2017-18 (above the RBI's projection of 4.5-5.0 per cent) owing to the firming up of rural wages, higher minimum support prices and a gradual narrowing of the output gap," Nomura India Chief Economist Sonal Varma said in a note.

Nomura expects policy rates to stay on hold throughout 2017, the note added.

The Reserve Bank in its policy review meet on February 8 kept key interest rate unchanged at 6.25 per cent and said that it is awaiting more clarity on inflation trend and impact of demonetisation on growth.

The next meeting of the MPC is scheduled on April 5 and 6, 2017.

India's rate cutting cycle has come to an end and policy rates are likely to be on hold throughout 2017 as inflation is expected to stay above the Reserve Bank's target, says a Nomura report.

The minutes from the Reserve Bank's February 8 policy meeting shows that focus has shifted to lowering inflation towards the medium term target of 4 per cent.

The Japanese brokerage firm said growth is expected to bounce back as the economy is remonetised and inflation, which is a key factor for RBI's policy decision, is also expected to inch higher owing to firming up of rural wages.

"We believe India's rate cutting cycle has come to an end because growth should gradually bounce back as the economy is remonetised…

"…we expect inflation to also inch higher towards 5.5-6.0 per cent in second half of 2017-18 (above the RBI's projection of 4.5-5.0 per cent) owing to the firming up of rural wages, higher minimum support prices and a gradual narrowing of the output gap," Nomura India Chief Economist Sonal Varma said in a note.

Nomura expects policy rates to stay on hold throughout 2017, the note added.

The Reserve Bank in its policy review meet on February 8 kept key interest rate unchanged at 6.25 per cent and said that it is awaiting more clarity on inflation trend and impact of demonetisation on growth.

The next meeting of the MPC is scheduled on April 5 and 6, 2017.

Peter Handscomb (22) and Steve Smith (27) fell in quick succession to hand India the advantage, with Australia 153/4 at tea on the first day of the Pune Test.

Shaun Marsh (16) was the first to fall after lunch, slightly unlucky after Jayant Yadav’s ball hit the pad onto his gloves before finally getting a touch off the back of the bat and into Virat Kohli’s grateful hands.

Handscomb was next to go, plump lbw off Ravindra Jadeja and after a brief discussion with Smith, astutely decided to walk instead of asking for a review.  Smith then literally threw his wicket away after toiling away for a while, attempting to hit Ravichandran Ashwin out of the park but finding Kohli at mid-wicket instead.

Earlier in the day, David Warner (38) and Matt Renshaw (38*) had combined well to give Australia a solid foundation, before the pint-sized batsman was beaten all-ends up by Umesh Yadav to give India a vital breakthrough.

Renshaw then departed to the pavilion, apparently not feeling well but returned after Handscomb was dismissed to resume his innings. He has Mitchel Marsh (2) for company at the crease as the visitors enter a crucial final session, in which they must preserve wickets if they are to remain in the Test.