10 October 2020: Today’s News Headlines

October 10, 2020

Here are top News Headlines of 10th October 2020

India

Country’s first indigenous anti-radiation missile ‘Rudram’ successfully tested from Sukhoi-30 fighter aircraft
IFS (Indian Foreign Service) Day celebrated on October 9

RBI’s Monetary Policy Committee (MPC) on October 9, 2020 kept the benchmark repo lending rate kept unchanged at 4%.
Reverse repo rate also unchanged at 3.35%.
Indian economy expected to contract 9.5% this fiscal with downside risks. Contraction 9.8% projected in July-September; 5.6% in October-December and rebound in growth at 0.5% in March quarter
GDP growth for April-June quarter 2021-22 fiscal projected at 20.6%
Accommodative monetary policy stance maintained to support growth
All MPC members vote for keeping the policy repo rate unchanged and continue with the accommodative stance.
Retail inflation projected at 6.8% for September quarter
RTGS fund transfer system for real-time fund transfer to become 24X7 from December
Threshold for aggregate exposure of retail bank loans to one counterparty increased to Rs 7.5 crore from Rs 5 crore

Navy cancels Reliance Naval and Engineering Ltd’s Rs 2,500-crore NOPVs (naval offshore patrol vessels) contract
Labour Ministry’s Labour Bureau to conduct 3 surveys to gauge employment situation
India gets 2nd set of Swiss bank account details under AEOI (automatic exchange of information) framework; 1st set in Sept 2019
PM to launch physical distribution of property cards in rural areas under ‘SVAMITVA’ scheme on Oct 11
Govt launches website to support entities involved in R&D in coal sector

UN’s World Food Programme wins 2020 Nobel Peace Prize for combating hunger
World Post Day celebrated on October 9; marks anniversary of the establishment of Universal Postal Union in 1874 in Swiss Capital, Berne
Taiwan releases new passport design to distinguish it from China