1 Economy RBI reduces key policy rates due to COVID-19 crisis In wake of COVID-19 crisis, the Monetary Policy Committee (MPC) has decided to: Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 75 basis points Reduce the marginal standing facility (MSF) rate and the Bank Rate Read more…
1 Persons in News Ruchika Tomar Wins PEN/Hemingway Award Ruchika Tomar has won the PEN/Hemingway Award for her debut novel “A Prayer for Travelers” As part of the award, she will receive $25,000 and a month-long residency at the Ucross Foundation writers retreat in Wyoming. Quick Facts: The PEN/Hemingway Award Read more…
Economy IOC to begin supply of BS-VI fuel across India Indian Oil Corporation Limited has become the 1st company to begin supply of BS-VI fuel across India 1st April 2020 is the deadline to start the supply of BS-VI emission compliant fuels Bharat Satge-VI grade fuel is the world’s cleanest Read more…
Persons in News Two mathematicians win Abel prize Israeli Hillel Furstenberg and Russian-American Gregory Margulis won the Abel prize. Their award is for pioneering the use of methods from probability and dynamics in group theory, number theory and combinatorics. Both mathematicians used techniques of Ergodic theory in their work. Ergodic Read more…
Economy Lok Sabha passes Finance Bill 2020 Finance Minister Nirmala Sitaraman introduced Finance Bill, 2020 in the Lok Sabha Union Budget 2020-21 will come into effect after passing of the bill Finance bill 2020 has abolished Dividend Distribution Tax. Quick Facts: Finance Bill is a Money Bill as defined in Read more…
Economy Visa Virtual Debit Cards by Paytm Paytm Payments Bank Ltd (PPBL) announced issuing of Visa debit cards to its customers. This will enable customers to transact at all merchants accepting payments through cards An optional physical card will support contactless payment through chip-inserted cards Quick Facts: Paytm is the Read more…
Environment World Sparrow Day observed on 20th March Every year March 20 is observed as World Sparrow Day to raise awareness about the bird. The need for this day was felt due to the tremendous decrease in its population. Increased use of pesticides, changing house patterns, missing gardens and radiations Read more…
Miscellaneous India: Third largest producer of electricity According to International Energy Agency, India is the third largest producer of electricity in the world. However, it ranks 106th in terms of per capital consumption of electricity. This is because though India has surplus power, the country lacks adequate infrastructure to supply Read more…
Economy Forex Swap and LTRO suggested by RBI governor Forex Swap and LTRO have been suggested to increase liquidity in India Forex Swap: RBI will lend companies US dollars, in return of equivalent rupees from them, during a six-month dollar buy-sell dollar swap window. The companies will return the borrowed Read more…
Economy Ambiguities to be removed in Modified New Pricing Scheme-III The Modified NPS scheme-III was launched in 2014 to boost Make in India campaign. The Modified NPS aimed to achieve self-sufficiency in urea production. The Scheme included incentives to the domestic urea manufacturers, encouragement of investment in urea production sector Read more…