RBI will infuse ₹12,500 crore into the financial system through bond purchases on June 20.The decision has been taken based on a review of the evolving liquidity conditions & assessment of the durable liquidity needs going forward.
Shaktikanta Das is the 25th governor of RBI.
To lead its push into lending, digital payments firm BharatPe, has appointed Pratekk Agarwaal as its Chief Business Officer.Agarwaal has worked across financial services companies like Indostar Capital, Bajaj Capital, and Fullerton India.
CEO and Co-founder of BharatPe: Ashneer Grover
Auditing firm PWC Chartered Accountants has resigned as one of the statutory auditors of Reliance Capital & Reliance Home Finance, citing an inability by the Anil Ambani-led firms to satisfactorily resolve certain observations/transactions.
PwC headquarters: London, U.K.
The Union Cabinet has cleared the New Delhi International Arbitration Centre (NDIAC) Bill, 2019. The Bill provides for setting up of an independent and autonomous body for institutional arbitration.
This arbitration will benefit Gov.,& the parties to a dispute.
MoS (I/C) of Culture & Tourism, inaugurated the exhibition titled "Astitva: The Essence of Prabhakar Barwe”, at National Gallery of Modern Art in New Delhi. It is the first of its kind that will present his artistic oeuvre in four distinct phases.
MoS (I/C) of Culture & Tourism: Shri Prahlad Singh Patel
SEBI directed credit rating companies to disclose the probability of default for the issuers they rate. Rating agencies also have to disclose factors that could potentially impact the rating of the instruments.
Chairman of SEBI:Ajay Tyagi
The gov. has reduced the contribution under the ESI Act to 4% from 6.5%, to increase the takehome salary of workers as well as reduce the financial burden of employers. This includes a reduction of 1.5% in employers’ contribution to 3.25% from 4.75%.
ESI Act:Employees’ State Insurance Act
India has decided to impose the long pending retaliatory tariffs on 29 US products,after Washington, withdrew duty-free benefits for Indian exporters.This comes ahead of the meeting between the US President & Indian PM at the sidelines of the G20 meeting.
India exports products worth $1.5 billion to the US.
Poet and lyricist Pazhavila Ramesan passed away. He had received the 2017 Kerala Sahithya Akademi award for overall contributions. A native of Perinad, Kollam, he was co-editor of K. Balakrishnan’s Kaumudi Weekly in the sixties.
He penned songs for Malayalam movies like Njattadi.
Vice Admiral Dinesh K Tripathi has taken over as the Commandant of INA.He is an alumnus of the NDA, Khadakvasala.He is a specialist in Communication and Electronic Warfare and has commanded IN Ships Vinash, Kirch and Trishul.
INA:Indian Naval Academy
NDA:National Defence Academy