Crisil has cut its estimate of India’s GDP growth by 20 basis points to 6.9% for FY 2019-20, following a triangulation of downside risks. The risks include weak monsoon, slowing global growth & sluggish high-frequency data for the first quarter.
It was mentioned in CRISIL’s report ‘Uphill trek’.
RBI has allowed Bank of China to offer regular banking services in the country. All commercial banks are in the Second Schedule. Banks falling under this schedule must adhere to the norms of the RBI. Jana SFB has been included in the Second Schedule.
Bank of China has opened its first branch in Mumbai.
Govt launched One Nation-One Ration Card scheme on a pilot basis in Telangana, Andhra Pradesh, Maharashtra & Gujarat to boost national food security. Families who have food security cards can buy subsidized rice & wheat from any ration shop in these states
Centre planned to extend the programme to all states by Aug 2020
LS passed the Bankruptcy Code (Amendment) Bill, 2019 that sets 330-day deadline for rescuing companies in distress to fast track cleaning up of bad assets. It aimed at ensuring timely resolution and at bringing more clarity on various provisions.
Finance and corporate affairs minister - Nirmala Sitharaman.
RBI has slapped a penalty of ₹ 1.5 Crore on Bank of India for non-compliance with RBI’s direction on frauds’ in Rotomac Group companies. The penalty is required to be paid within 14 days of receipt of RBI’s order.
Non-Executive Chairman of Bank of India – G. Padmanabhan.
Acc. to the data by World Bank, India has been pushed to the 7th place in the global GDP rankings in 2018 with a GDP of $2.7 trillion. USA remains the top economy with a GDP of $20.5 trillion followed by China, Japan. UK & France placed at 5th & 6th place.
Govt has a plan to emerge as a $5 trillion economy by 2024-25.
In Shooting, Aishwary Pratap Singh Tomar clinched a gold medal in Men's Rifle 3 Positions (3P) at 12th Sardar Sajjan Singh Sethi Memorial Masters competition in New Delhi. Tinjit Dhanota & Esha Singh won the Men's &Women's 10 metres Air Pistol gold medals.
Aishwary hails from Madhya Pradesh.
Dr Vinayak S Hiremat has been felicitated with 'Pride of the Nation Award' for his exemplary work in the field of medicine. He is the youngest doctor of Gulbarga. He offers free insulin consultation & treatment to gestational (pregnancy) diabetic mothers.
He was given the honour by the Defence Minister Rajnath Singh.
Indian Army has launched an ecological initiative with employing E Cars in partnership with EESL. It plans to operate a batch of 10 E-Cars as a pilot project and increase the number of E Cars in Delhi to ensure economy, efficiency and minimal emissions.
Govt expects 25% of total vehicles on roads will be EV by 2030.
The Glamorgan bowler, Malcolm Nash has died at the age of 74. He became famous after Garfield Sobers hit him for six sixers in an over. He took 993 first-class wickets in a 17-year career b/w 1966 and 1983 & also scoring 7,129 runs & holding 148 catches.
He was a left-arm bowler.