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The incident happened on Saturday night and the victim was identified as Basher Ahmad (32), a resident of Jammu and Kashmir.
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Police said the accused, identified as J Srinivas, stabbed the 56-year-old scientist to death during an argument over payment after sexual activity.
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The ex-RBI governor also said dwelling on historical achievements and opposing foreign ideas or foreigners reflects great insecurity and may hamper economic development.
The man, who resides in the neighbouring village of the victim, was a frequent visitor to her house and had been taking the girl out as her guardian, police said.