DAILY GK UPDATES 3 FEBRUARY 2015

DAILY CURRENT AFFAIRS 3-FEBRUARY 2015

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  1) 6^thRBI BI MONTHLY POLICY REVIEW

Ø  RBI today Reduce the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 22.0 per cent to 21.5 per cent of their NDTL with effect from the fortnight beginning February 7, 2015.

Ø  Repo rate remain unchanged at 7.75 per cent.

Ø  Reverse repo rate under the LAF will remain unchanged at 6.75 per cent

Ø  The marginal standing facility (MSF) rate and the Bank Rate at 8.75 per cent.

Ø  The cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 %

Highlights of Review

Ø  Inflation likely to be around target level of 6% by January 2016.

Ø  Baseline projection for 2014 GDP growth retained at 5.5%.

Ø  72 applications for Small Finance Banks and 41 applications for Payments Banks received.

Ø  FIIs can invest in India corp. bond with 3-year maturity.

Ø  RBI raises cap on forex under LRS to $250,000 per person.

Ø  Real GDP growth in 2015-16 expected to rise to 6.5%.

2) RELIANCE TEAMS UP WITH SBI FOR PAYMENTS BANK

Ø  Reliance Industries has teamed up with SBI to apply for a payments bank licence.

Ø  RIL and SBI put in a joint application to the Reserve Bank of India (RBI) to set up a payment bank that can offer services such as remittances and deposits but not loans.

Ø  The nation's largest lender SBI, which being a commercial bank could not apply for a payment bank license,will hold 30% in the joint venture. RIL will be the promoter and hold the balance 70%.

3) INDIA, CHINA LAUNCH VISIT INDIA YEAR IN CHINA

Ø  External Affairs Minister SushmaSwaraj and Chinese Vice-Premier Wang Yang jointly launched the Visit India Year in China in Beijing.

Ø  The initiative is aimed at enhancing the flow of tourists from China to India and strengthen the people to people bond.

Ø  It is agreed to designate 2015 as Visit India Year in China and 2016 as Visit China Year in India.

Ø  Under this, the two sides will carry out a series of promotional activities to boost two-way tourism inflow and strengthen people to people bonds.

4) BHARAT RANG MAHOTSAV BEGINS IN DELHI

Ø  The 17th edition of Bharat Rang Mahotsav begins in the national capital.

Ø  Organised by the National School of Drama, NSD, the theatre festival was inaugurated by Culture Minister Dr Mahesh Sharma and actor Om Puri.

5) ADITYA BIRLA, FUTURE GROUP APPLY FOR PAYMENT BANK LICENCES

Ø  Aditya Birla Nuvo Ltd, Future Group and Vakrangee Ltd sought permission from the Reserve Bank of India (RBI) to set up payments banks.

Ø  A payments bank licence will allow companies to accept deposits of up to Rs.1 lakh and increase payment options, especially for people who have no bank accounts.

Ø  Aditya Birla Nuvo will hold 51% stake in the proposed payments bank and the remaining 49% will be owned by Idea Cellular

6) HIV TREATMENT TO BE LINKED TO AADHAAR

Ø  Anti-Retroviral Therapy (ART) Treatment for HIV/AIDS infection will now be linked to Aadhaar.

Ø  Even those coming for HIV infection testing will have to produce their Aadhaar cards.

Ø  This is to avoid duplication of patients going to several ART Centres for testing.

Ø  The National Aids Control Organisation (NACO) has created a special software which will identify a patient who goes for testing at different centres and gets registered at all the centres.

7) KANAGASABAPATHY SRIPAVAN APPOINTED AS CHIEF JUSTICE OF SRI LANKA

Ø  President of Sri lankaMaithripalaSirisena has appointed KanagasabapathySripavan  as the country's top lawyer. Sripavan sworn in as Sri Lanka's 44th chief justice.

Ø  Sripavan is the second Tamil to be the Chief Justice of the Sri Lankan Supreme Court.