Repo Rate: The Reserve Bank of India (RBI) Governor announced that the Monetary Policy Committee voted unanimously to hike the benchmark interest rate by 50 bps with immediate effect. The Reserve Bank of India (RBI) increased the repo rate by 50 basis points to 4.90%. The earlier repo rate was 4.40% after the rates were […]
Category: Current Affairs
Monetary Policy Committee Decisions: June 2022
The Monetary Policy Committee Decisions: The Monetary Policy Committee of Reserve Bank of India, which met from 6-8 June 2022, took the following decisions. Taking into account the increase in housing prices since the limits were last revised and considering the customer needs, it has been decided to increase the existing limits on individual housing […]
Linking Of Credit Cards With UPI
Linking Of Credit Cards With The Unified Payments Interface: The Reserve Bank of India has proposed to allow the linking of credit cards with the Unified Payments Interface (UPI). So far, UPI could only be linked to debit cards and bank accounts. The integration will first begin with the indigenous RuPay credit cards. Both the […]
Carbon Bombs
Carbon Bombs: A group of environmentalists, lawyers, and activists have come together to identify and ‘defuse carbon bombs’– coal, oil and gas projects that have the potential to contribute significantly to global warming. The usage of the term ‘carbon bombs’ picked up after an investigative project of The Guardian from May 2022. Defining the term […]
World Brain Tumour Day
World Brain Tumour Day: World Brain Tumour Day is being observed on June 08, 2022 It is observed to raise awareness and educate people about brain tumours. The day also pays tribute to those affected by brain tumours. The German Brain Tumor Association started this international commemoration day in the year 2000 as a tribute […]
World Ocean Day 2022
World Ocean Day: World Ocean Day was observed on June 8, 2022 with the theme for this year is “Revitalization: Collective Action for the Ocean”. The Day is celebrated every year on June 8. The Day was proposed in 1992 and was officially recognised by the United Nations in 2008. The purpose of the Day […]
Minimum Support Prices (MSP) For Kharif Season 2022-23
Minimum Support Prices (MSP) For The Kharif Season 2022-23: The Centre has approved the Minimum Support Prices (MSP) for the Kharif season 2022-23, stating that the rates are at least 1.5 times of the weighed average cost of production. The rates for 14 Kharif crops have been increased, the hikes ranging from 4% to 8%. […]
Resolution of First Set of Bad Loans
What Is a Bad Bank? The Ministry of Finance has announced that the National Asset Reconstruction Company (NARCL) along with the India Debt Resolution Company (IDRCL) will take over the first set of bad loans from banks and try to resolve them. The health of the balance sheets of Indian banks has improved significantly over […]
Ban On Use Of Coal In Delhi-NCR
Ban On Use Of Coal In Delhi-NCR: The Commission for Air Quality Management (CAQM) has issued directions to ban the use of coal in industrial, domestic and other miscellaneous applications in the entire Delhi-NCR region from 1st January 2023. This step is taken to bring down greenhouse gas emissions in Delhi NCR. Delhi is among […]
Australia India Water Security Initiative (AIWASI)
Australia India Water Security Initiative (AIWASI): The Union Cabinet has approved a MoU (Memorandum of Understanding) between India and Australia on Technical Cooperation for Australia –India water Security initiative (AIWASI). AIWASI is a project Under South Asia Water Security Initiative (SAWASI) of Department of Foreign Affairs and Trade (DFAT), Australia. It aims to work towards […]
