President’s New Secretary: Former retd IAS officer Kapil Dev Tripathi

On April 20, 2020, the Former IAS officer Kapil Dev Tripathi was appointed as the new secretary to the President of India Shri Ram Nath Kovind. The Appointments Committee of the Cabinet approved his appointment for a term co-terminus with the tenure of the President. Appointment Committee of the Cabinet The Appointment Committee of the ..

Month: Current Affairs - April, 2020

Category: Awards, Persons & Places in News

Topics: Appointment Committee of the Cabinet • Appointments Committee of Cabinet (ACC) • Cabinet Committees • Chairman of Railway Board • Chief of Indian Army • IAS officer • President • President Ram Nath Kovind • RBI Governor

RBI: Cuts repo rate to 4.4%; CRR to 3%; 3-month moratorium allowed on all loans

On March 27, 2020, the Reserve Bank of India announced series of measures to counter economic slowdown caused due to COVID-19. The Central bank advanced its Monetary Policy Committee meet due to COVID-19 pandemic. This was the 7th Bi-Monthly Monetary Policy Statement of the RBI for the financial year 2019-20. The RBI measures introduced is ..

Month: Current Affairs - March, 2020

Category: Economy & Banking Current Affairs

Topics: Corona virus • COVID-19 • Economic slow down • liquidity • RBI • RBI Governor • RBI Governor Shaktikanta Das • Repo Rate • Reverse Repo Rate

15th Finance Commission to set up panel to examine fiscal and debt situation of Centre and States

The Fifteenth Finance Commission is to set up a panel soon, which will examine the fiscal and debt situation of the Centre and states. This panel is to be headed by the Chairman of the 15th Finance Commission N.K.Singh.  It will present a road map on the lines of the erstwhile Fiscal Responsibility and Budget ..

Topics: Debt • Fifteenth Finance Commission • Fiscal Responsibility and Budget Management Act • RBI Governor

RBI reduces repo rate by 35 basis points to 5.40%

Reserve Bank of India (RBI) in its third Bi-monthly Monetary Policy review for financial year 2019-20 has reduced its key policy rate (repo rate) by an unorthodox 35 basis points to 5.40%. This takes the benchmark lending rate to a nine-year low. It was overall fourth consecutive interest rate cut this year, bringing down repo ..

Month: Current Affairs - August, 2019

Category: Economy & Banking Current Affairs

Topics: Cash Reserve Ratio • Marginal Standing Facility Rate • Monetary Policy Committee • RBI Bi-monthly Monetary Policy Review • RBI Governor • Repo Rate • Reserve Bank of India • Reverse Repo Rate • Statutory liquidity ratio

Bimal Jalan led panel defers report on RBI surplus funds

The Reserve Bank of India (RBI) committee led by Bimal Jalan (former RBI governor) constituted for considering guidelines for transfer of central bank’s surplus funds to government delayed submitting its report after lack of consensus among its members. The panel was originally supposed to submit its report in April 2019. Background The RBI committee was ..

Month: Current Affairs - June, 2019

Category: Economy & Banking Current Affairs

Topics: Arun Jaitely • Bimal Jalan Committee • ECF • Economic Capital Framework • Economy • RBI Governor • RBI's Surplus Capital • Reserve Bank of India • Union Ministry of Finance • Urjit Patel