UNION CABINET APPROVES RECAPITALISATION OF RRBs
Focus: GS-III Indian Economy Why in news? The Centre has approved a ₹1,340-crore recapitalisation plan for regional rural banks (RRBs) to improve their Capital-to-Risk weighted Assets Ratio (CRAR), strengthening these institutions that are critical to the provision of credit in rural areas. On 25th march 2020, the Cabinet Committee on Economic Affairs gave its nod […]
FINANCE MINISTRY WRITES TO RBI FOR RELAXING FARM LOAN NPA NORMS
Focus: GS-III Indian Economy, Economic Development Why in news? The Finance Ministry has asked the Reserve Bank of India (RBI) to relax asset classification norms for farm loans extended by banks following the stress faced by the agriculture sector. What did the Ministries and Departments say? Finance Ministry requested to consider making appropriate relaxation in […]
SAUDI KING TO CHAIR G20 VIRTUAL SUMMIT
Focus: GS-III International Relations, Prelims Why in news? Leaders of the G20 group of nations will hold a video conference on 26th March 2020. The virtual summit will be led by King Salman bin Abdulaziz al Saud of Saudi Arabia which is the current president of the economic grouping. Details G20 members will be joined […]
WHITE HOUSE, CONGRESS AGREE ON $2 TRILLION VIRUS RESCUE BILL
Focus: GS-III Disaster Management, Economic Development Why in news? The White House and Senate leaders of both parties announced agreement early 25th March on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently needed pandemic response measure is the largest economic rescue […]
UNDISTURBED MASS NESTING OF OLIVE RIDLEYS AT RUSHIKULYA
Focus: GS-III Environment and Ecology Why in news? Restrictions in place for the COVID-19 threat is saving lakhs of Olive Ridley turtles from possible intrusion by humans, especially tourists, while they are continuing mass nesting at Odisha’s Rushikulya rookery. What is different this year? This event normally attracts hundreds of people to the spot, with […]
RBI ADVANCES VARIABLE RATE TERM REPO AUCTION
Focus: GS-III Indian Economy Why in news? The Reserve Bank of India (RBI) has decided to advance the first of the two variable rate term repo auctions to March 26 from March 30. Details On a review of the rapidly evolving financial conditions and taking into account the impact of disruptions caused by COVID-19, it […]
ECONOMIC PACKAGE SOON, SAYS FM
Focus: GS-III Indian Economy Why in news? An economic package to deal with COVID-19 situation will be announced soon, Finance Minister Nirmala Sitharaman promised on 24th March 2020, afternoon, adding that the government and regulators are constantly monitoring the state of the economy, markets and rupee depreciation. She still offered little clarity on the composition […]
U.S. COULD BECOME VIRUS EPICENTRE: WHO
Focus: GS-III Disaster Management Why in news? The World Health Organisation said on 24th March 2020, that the U.S. could become the global epicentre of the COVID-19 pandemic. WHO spokeswoman Margaret Harris said there had been a “very large acceleration” in infections in the U.S. Current Scenario of Epicenter Britain joined the ranks of countries […]
ENCOURAGE DOORSTEP DELIVERY: CENTRE
Focus: GS-III Indian Economy Why in news? The Home Ministry on 24th March 2020, issued a set of guidelines to be followed by the States to contain COVID-19. It asked all “enforcement authorities to note that these strict restrictions fundamentally relate to the movement of people, but not to that of essential goods”. What the […]
TOKYO OLYMPICS MOVED TO 2021 OVER VIRUS SCARE
Focus: GS-III Disaster Management, Prelims Why in news? The 2020 Tokyo Olympics has been postponed to be held before the summer of 2021 because of the coronavirus pandemic sweeping the globe, the International Olympic Committee announced on 24th March 2020. The Games were scheduled for July 24-August 9, but after telephone discussions between IOC president […]