RBI: Reverse Repo rate and LTRO updates
RBI has cut the reverse repo rate to 3.75% and repo rate to 4.4% It has also announced Rs 50,000 crore for Long Term Repo Operation (LTRO) The LTRO has been named as LTRO 2.0 as this LTRO will focus on liquidity needs of microfinances and NBFC, instead of Public Sector Undertakings and large corporations as is usual.
2. India and the World
AIIB: 500 million USD funds for National Health Care Systems projects
AIIB has doubled its funds under COVID-19 Crisis Recovery Facility The funding will aim to increase purchase of equipment and detection capacity
Quick Facts: AIIB headquarters are located in Beijing
3. India and the World
India to attend BRICS meeting on COVID-19
BRICS foreign ministers will be meeting online by the end of April 2020 The purpose of the meeting is to discuss economic effects of COVID-19.
Quick Facts: Brazil, Russia, India and China were the initial members of BRICS, before it was joined by South Africa
4. Person in News
Chess Legend Viswanathan Anand named ambassador of WWF India
Legendary chess player Viswanathan Anand will be the ambassador of World Wide Fund India He will be joining WWF-India for its environment education programme
Quick Facts: Viswanathan Anand is the first chess grandmaster from India, and has won the world chess championship five times.
RBI launches OBICUS survey
OBICUS is Order Books, Inventories and Capacity Utilization Survey (OBICUS) It gives an insight into the demands of the Indian manufacturing sector It is conducted 4 times a year.
6. Science And Technology
Delhi Government introduces “Assess Koro Na” application
The application will be used to conduct door to door survey and enter real time data The real time data will enable quick decision-making regarding provision of health infrastructure and project planning
7. Science And Technology
Two new DRDO products to combat COVID-19
The first product uses water mist aerator technology to spray sanitizer while entering public places The second product, a UV sanitization box, uses UV rays to kill the genetic material in coronavirus.
Quick Facts: Ultraviolet (UV) is electromagnetic radiation with wavelength from 10 nm to 400 nm
8. Science And Technology
“Krishi Rath” application launched by GoI for hassle free agri transportation
The app will help farmers transport their agriculture produce to the mandis. It will connect them to transporters and traders, all operating with competitive prices.