RBI announces bi-monthly monetary policy
The Reserve Bank of India (RBI) meeting was held from August 4 to August 6.
For the seventh time in a row, the RBI has not made any change in its key policy rates.
RBI last changed the policy rates on May 22, 2020.
- Repo Rate: 4.00%
- Reverse Repo Rate: 3.35%
- Bank Rate: 4.25%
- Marginal Standing Facility Rate (MSF): 4.25%
- Cash Reserve Ratio (CRR): 4%
- Statutory Liquidity Ratio (SLR): 18.00%
Apart from this, RBI has retained the GDP (Gross Domestic Product) growth rate for the financial year 2021-22 at 9.5%.
The next meeting of RBI’s Monetary Policy Committee will be held from October 6 to 8.
The Monetary Policy Committee was constituted on June 27, 2016.
The RBI Governor is the ex-officio chairman of this committee.
- Repo Rate: Repo rate is the rate at which the Reserve Bank of India lends money to other commercial banks in the country.
- Reverse Repo Rate: Reverse Repo Rate is the rate at which the Reserve Bank of India borrows money from commercial banks in the country.
- Bank Rate: The simple interest rate at which the Reserve Bank lends money to other banks is called ‘Bank Rate’.
- Marginal Standing Facility Rate (MSF): Under the Marginal Standing Facility, banks borrow from the Reserve Bank of India in case of emergency to meet the shortfall of inter-bank liquidity.
- Cash Reserve Ratio (CRR): The portion of the total deposits in a commercial bank which has to be compulsorily deposited with the Reserve Bank is called ‘Cash Reserve Ratio’.
- Statutory Liquidity Ratio (SLR): That part of the total deposits in a commercial bank which has to be kept compulsorily in the form of cash, gold and foreign currency, is called ‘Statutory Liquidity Ratio’.
Establishment of Reserve Bank of India: 1 April 1935
Headquarters: Mumbai
25th Governor: Shaktikanta Das
National Handloom Day: 07 August
“National Handloom Day” is celebrated every year on 07 August in India.
The first National Handloom Day was celebrated on 07 August 2015.
Bhutan’s ‘Mangdechhu Hydroelectric Project’ awarded Brunel Medal
Bhutan’s ‘Mangdechhu Hydroelectric Project’ was awarded the Brunel Medal awarded by the Institution of Civil Engineers (ICEE), London.
The Mangdechhu Hydroelectric Project costing Rs 4,500 crore was constructed with Indian assistance.
Bhutan Capital: Thimphu
Currency: Bhutanese Ngultum
Prime Minister: Lotay Tshering
Indian Ambassador to Bhutan: Ruchira Kamboj
Central University in Ladakh to be named after ‘Indus’ river
Recently, the Union Cabinet had approved the formation of a Central University in the Union Territory of Ladakh at a cost of Rs 750 crore.
This university will be named ‘Indus Central University’ after the Indus river.
India’s first sports university: Manipur
India’s first transgender university: Kushinagar (Uttar Pradesh)
India’s first Railway University: Vadodara (Gujarat)
The Indus river originates from a stream called Sin-ka-Bab near Mansarovar in Tibet.
The five main tributaries of the Indus River are Jhelum, Chenab, Ravi, Beas and Sutlej.
CBIC launches ‘Compliance Information Portal (CIP)’
The Central Board of Indirect Taxes and Customs (CBIC) has launched ‘Compliance Information Portal (CIP)’ to provide free access to information on all customs procedures and regulatory compliances.
It will contain information on customs procedures and regulatory compliance for around 12,000 items.
Establishment of Central Board of Indirect Taxes and Customs: 1 January 1964
President: M. Ajit Kumar
Indian Olympic contingent to be special guest on Independence Day 2021
Prime Minister Narendra Modi will invite the Indian Olympic contingent as a special guest on Independence Day this year on August 15.
This time a team of 228 people has been sent from India, which includes 120 athletes in the Tokyo Olympics.
Answers to Important Questions About “Buddhism” in Every Exam
Vodafone Idea (Vi) non-executive chairman Kumar Mangalam Birla stepped down
Vodafone Idea’s non-executive director Kumar Mangalam Birla has stepped down.
Himanshu Kapania has been elected as non-executive chairman in his place.
कुमार मंगलम बिड़ला is currently the chairman of the Aditya Birla Group.
First sea trial of indigenous aircraft carrier INS Vikrant begins
The first sea trials of India’s first indigenous aircraft carrier INS Vikrant have been started.
The vessel has been built by Cochin Shipyard Limited (CSL) at a cost of around Rs 23,000 crore.
This ship is about 262 meters long, 62 meters wide and 59 meters high.
Bajrang Punia won bronze medal in Tokyo Olympics
Indian wrestler Bajrang Punia won the bronze medal in the men’s freestyle 65kg category at the Tokyo Olympics 2021.
This is the second time that two Indian wrestlers have won medals in the same sports (wrestling).
Earlier Sushil Kumar and Yogeshwar Dutt had won medals in 2012 London Olympics.
Haryana’s Bajrang Punia has become the sixth Indian in Olympic history to have a medal in wrestling.
The other five Indians:
KD Jadhav (Helsinki Olympics 1952 Bronze Medal)
Sushil Kumar (London Olympics 2012 Silver Medal)
Yogeshwar Dutt (London Olympics 2012 Bronze Medal)
Sakshi Malik (Sakshi Malik Olympics 2016 Bronze Medal)
Ravi Kumar Dahiya (Tokyo Olympics 2020 Bronze Medal)
Neeraj Chopra won gold medal in Tokyo Olympics
In the javelin throw event at Tokyo Olympics, Haryana’s Neeraj Chopra won the gold medal for India in the javelin throw final with a throw of 87.58 meters.
With this, Neeraj Chopra has become the second Indian after Abhinav Bindra (Beijing Olympics 2008 shooting) to win an individual gold medal.
Thus far in Tokyo Olympics, India has won 7 medals (1 gold, 2 silver and 4 bronze medals).
Pehlwan Bhawandu Sharma won Kesari Wrestling Dangal 2021
Wrestler Bhawandu Sharma from Rishikesh, Uttarakhand won the gold medal in the two-day Bharat Kesari Kushti Dangal 2021 held in Madurai, Tamil Nadu.
With this, he won the title of ‘Bharat Kesari’.
Ibrahim Raisi appointed new President of Iran
Recently, Ibrahim Raisi has been sworn in as the new President of Iran for his four-year term.
He has replaced Hassan Rouhani.
Capital of Iran: Tehran
Currency: Iranian Toman
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Suryoday Small Finance Bank launches ‘Health and Wellness Savings Account’
Suryoday Small Finance Bank has launched ‘Health and Wellness Savings Account’ for the customers.
Under which customers are getting 6.25% annual interest on savings account and daily ATM withdrawal limit of Rs 1.50 lakh besides top up of Rs 25 lakh on health cover.
Apart from this, many more facilities are being given on this savings account.
MD & CEO of Suryoday Small Finance Bank: Bhaskar Babu Ramachandran
