Top GKToday’s News Headlines-28 March 2020

Here are Top GKToday’s News Headlines for 28 March, 2020

INDIA

  • Army Chief General MM Naravane launches Operation Namaste – Indian Army’s anti-COVID-19 drive
  • Facebook launches Corona Helpdesk Chatbot on Messenger alongwith Ministry of Health and MyGov
  • Restrictions on domestic flights extended till April 14
  • UP CM Yogi Adityanath sets up “Team-11” comprising of as many inter-departmental committees to fight the coronavirus spread
  • Shri Saibaba Sansthan Trust donates Rs 51 crore to Maharashtra Chief Minister’s Relief Fund to fight the COVID-19 outbreak
  • Rajyogini Dadi Janki, the chief of Brahmakumaris Sansthan, dies at 104 in Mount Abu, Rajasthan
  • Renowned artist & architect Satish Gujral dies at 94; was awarded Padma Vibhushan in 1999
  • Beni Prasad Verma, a founding member of the Samajwadi Party and former Union minister, dies at 80 in Lucknow
  • Noted Fisheries scientist and Vice Chancellor of Kerala University of Fisheries and Ocean Studies (KUFOS) Dr A. Ramachandran dies in Kochi at the age of 61

MONETARY POLICY REVIEW

  • RBI Governor Shaktikanta Das announces decisions of Monetary Policy Committee (MPC)
  • Policy repo rate cut by 75 basis points to 4.4% to deal with the hardship caused due to the outbreak of COVID-19
  • Reverse repo rate reduced 90 basis points to 4%
  • Cash reserve ratio (CRR) of all banks reduced by 100 basis points to 3% with effect from March 28 for 1 year
  • Minimum daily CRR balance requirement reduced from 90% to 80%, a one-time dispensation up to June 2020
  • Banks allowed three-month moratorium on EMI (equated monthly instalment) payments on all term loans

ECONOMY & CORPORATE

  • Govt exempts procurement agencies, mandis, farming operations, farm workers from lockdown rules
  • Govt. sells its entire 74.5% stake in state-owned power company THDC India Ltd (THDCIL) to NTPC for Rs 7,500 crore
  • Govt. sells 100% stake in state-owned power company NEEPCO (North Eastern Electric Power Corp) for Rs 4,000 crore to PSU NTPC
  • Govt. sells 66.67% stake in Kamrajar Port Ltd to Chennai Port Trust for Rs 2,383 crore
  • Japanese government funding agency JICA signs 3 agreements totalling Rs 15,295 crore with the Indian government for three mega rail infrastructure projects
  • Coronavirus impact: ICRA forecasts –4.5% growth rate for India’s GDP in April-June 2020 quarter; 2% in 2020-21
  • Moody’s Investor Service (Moody’s) estimates 2.5% growth rate for the Indian economy in calendar year 2020 (CY20), 5.8% in CY21
  • SC allows sale of BS IV compliant vehicles for 10 days, barring in Delhi-NCR, after coronavirus lockdown is lifted
  • Country’s foreign exchange reserves declined USD 11.98 billion to USD 469.909 billion in the week to March 20

WORLD

  • US Space Force launches Lockheed Martin Advanced Extremely High Frequency (AEHF) satellite (a military communication satellite) aboard an Atlas V551 rocket from Cape Canaveral in Florida
  • Moody’s estimates global economic growth at –0.5% in calendar year 2020 (CY20), 3.2% growth in CY21
  • Actor Mark Blum dies of complications from COVID-19 in US at the age of 69
  • Britain: Prime Minister Boris Johnson (55), Health Secretary Matt Hancock (41) test positive for coronavirus

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