CURRENT AFFAIRS 15-16th Jan., 2015

DOWNLOAD PDF

CURRENT AFFAIRS 15th Jan., 2015

1. RBI in its sixth Bi-Monthly Monetary Policy Statement lowered repo rate to 7.75% from 8% with immediate effect signalling a shift in its policy stance towards a softer rate regime. This is the first rate cut from the RBI since 2013. State-run banks are going to benefit the most as it would help them use the treasury gains to negate provision and write-offs of bad loans.

2. RBI has unchanged CRR and kept it at 4.0 per cent of net demand and time liabilities (NDTL). RBI has adjusted reverse repo rate under the LAF to 6.75 per cent and Marginal standing facility (MSF) rate, the Bank Rate to 8.75 per cent with immediate effect.

3. Odisha Chief Minister Naveen Patnaik launched a new mobile app of the Commissionerate Police for the people of Bhubaneswar and Cuttack that would enable them to contact police directly and instantly.

4. Election Commissioner Hari Shankar Brahma was elevated as the Chief Election Commissioner. He will succeed incumbent V S Sampath who demitted office on Thursday on attaining the age of 65 years.

5. Securities and Exchange Board of India (Sebi) is holding consultations for “evolving guidelines” on crowd-funding. Crowd-funding involves young entrepreneurs and small groups of people raising funds for their ventures through various online platforms involving individuals and organisations.

CURRENT AFFAIRS 16th Jan., 2015

1. Reserve Bank of India's survey on inflation showed households expect a much lower rate of consumer inflation due to possible “adaptive response to the decline in headline inflation in recent months.” The survey showed households expected consumer inflation of 8.9 per cent in the October-December quarter from 16 per cent in the previous quarter.

2. Securities and Exchange Board of India notified the Prohibition of Insider Trading (PIT) Regulations, 2015. The new regulations would tighten the screws on company officials who communicate information to a select group and mere communication of unpublished price-sensitive information (USPI) would be punishable.

3. Swiss National Bank has removed a three-year-old cap on the franc, which was introduced to prevent the strong currency leading to deflation and a recession during EuroZone crisis. The scrapping of the limit shocked financial markets sending the safe-haven currency soaring against the euro.

4. Centre aims to notify over 60 sanctuaries and national parks as 'eco-sensitive zones' to check the negative impact of industrialisation and unplanned development in and around protected areas. The land falling within 10-km radius of the boundaries of national parks and sanctuaries will be declared as 'eco-fragile zones'.

5. Union Ministry of Social Justice and Empowerment launched two schemes to support the Scheduled Castes (SC). Under the Venture Capital Fund for Scheduled Castes, financial assistance of 15 Crore rupees for a period of 6 years will be provided to 30 SC entrepreneurs in a year. Green Business scheme will provide loan for unit cost up to 1 lakh rupees at concessional rate of interest for activities such as e-rickshaw, Solar Pump and Solar energy powered implements etc.