RBI cut its economic growth projection for the fiscal year 2019- 20 to 6.1% from 6.9%. The bank forecasted 5.3% GDP in Q2, 6.6% in Q3, 7.2% in Q4. RBI has also revised slightly upwards the retail inflation projection to 3.4% for Q2.
RBI expected 7% of GDP growth in the FY 2020-21.
ICICI Bank signed a pact with CSC e-Governance Services India to extend its banking & other services to the country's rural regions. It would enable the CSCs to leverage its technology to reach out to underserve communities and provide a range of services.
CSC SPV Chief Executive Officer - Dinesh Tyagi.
The Cabinet has approved a new process of strategic disinvestment with a view to expediting the privatization of select PSUs. It was done with a view to streamlining & speeding up the process, reducing the role of administrative ministries.
It approved under Dept of Investment & Public Asset Management.
Atal Innovation Mission, NITI Aayog &United Nations Development Programme India launched Youth Co: Lab which aims at accelerating social entrepreneurship & innovation in young India. it will convene a series of Youth dialogue across several cities.
Youth Co:Lab co-created in 2017 by UNDP and Citi Foundation.
RBI came out with a series of measures for the sector, including liquidity support for 24x7 National Electronic Funds Transfer & the setting up of an Acceptance Development Fund (ADF) for card infrastructure to encourage digital payments.
The collateralized liquidity support is available till 7:45 pm.
Government has raised Rs 4,368 crore through the fourth tranche of the Bharat-22 exchange traded fund (ETF). Government has decided to exercise its green-shoe option & retain Rs 4,368 crore of the overall bids received over 2 days
ICICI Mutual Fund (MF) manages the Bharat-22 ETF
PM Modi held wide-ranging talks with his Bangladeshi counterpart Sheikh Hasina.
One of the projects included import of LPG from Bangladesh for distribution in North Eastern states. The 2 sides have launched a total of 12 projects in 1 year period
External Affairs Minister: S Jaishankar
Centre has given in-principle approval for setting up of Tripura's first-ever SEZ at Sabroom. Estimated investment in the project will be around Rs 1550 Crore to be developed by to be Tripura Industrial Development Corporation (TIDC) Ltd.
Tripura Chief minister: Biplab Kumar Deb
Goa Maritime Conclave (GMC)-2019 was inaugurated by NSA Ajit Kumar Doval. Theme for the conclave is “Common Maritime Priorities in IOR and need for Regional Maritime Strategy”. 31st edition of the Naval War College Journal was also released
Chief of Indian Navy: Karambir Singh
Singapore has been ranked as the smartest city in 2019, out of 102 cities in the world, in the 1st edition of IMD Smart City Index 2019. Hyderabad (67) topped among Indian cities followed by New Delhi (68), Mumbai (78) & Bengaluru (79).
Launched by IMD World Competitiveness Center & SUTD.