Daily News

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RBI cuts repo rate by 40 bps to 4 per cent

The RBI cut the repo rate by 40 basis points from 4.4 per cent to 4 per cent, reducing the reverse repo rate at 3.35 per cent to maintain accommodative stance. The six-member Monetary Policy Committee voted 5:1 in favour of 40 bps cut in interest rate.

Did you Know

RBI to extend 15,000 crore rupee line of credit to EXIM Bank.

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ONGC and NTPC to Form JV for Renewable Energy Business

The Oil and Natural Gas Corporation Limited & India’s largest power generation utility NTPC are planning to set up Joint Venture company for renewable energy business. This will enable both companies achieve their targets in renewable energy sector.

Did you Know

ONGC CEO: Shashi Shankar. NTPC Chief: Gurdeep Singh.

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HRD Min Launches CBSE handbooks on Cybersecurity for Students, 21st Century Skills

Union HRD Minister Ramesh Nishank released three handbooks - 'Cyber safety - A handbook for students'; 'In pursuit of Excellence’ and ‘21st Century skills', by the CBSE on measures taken by the board to adopt value-based global standards of education.

Did you Know

Ramesh ‘Pokhriyal’ Nishank Constituency: Haridwar, Uttarakhand.

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Centre clears OIL plans for drilling in Assam's Dibru Saikhowa Park

Oil India Limited said that Ministry of Environment accorded environment clearance for extension of drilling for hydrocarbon exploration in Dibru Saikhowa National Park in Assam as part of Centre's target to reduce 10% imports & Northeast Vision 2030.

Did you Know

It houses 36 different species & is a major tourist attraction.

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Cabinet approves Scheme for Formalization of Micro Food Processing Enterprises

Cabinet gave its approval to the Scheme for Formalization of Micro Food Processing Enterprises for the Unorganized Sector on All India basis with an outlay of Rs. 10,000 cr. To be monitored under the chairmanship of Minister, Food Processing Industries.

Did you Know

The expenditure to be shared by Centre & States in ratio 60:40.

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Tata Power arm TPIPL acquires 10% equity in ABV, total stake now 50%

Tata Power International Pte Ltd (TPIPL) has acquired 10% stake in Adjaristsqali Netherlands BV from the International Finance Corporation for USD 150,000 (about Rs 1.13 crore). The 10% stake acquisition has increased TPIPL's shareholding in ABV to 50%.

Did you Know

ABV owns 100 per cent stake in Adjaristsqali Georgia LLC (AGL).

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IIT Guwahati discovers new ways to prevent memory loss due to Alzheimer

The research team at IIT Guwahati studied the neurochemical principles of Alzheimer’s and explored ways to prevent accumulation of neurotoxic molecules in brain associated with short-term memory loss. It can help prevent or reduce short-term memory losses.

Did you Know

India has 3rd highest number of patients after China and the US.

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US to withdraw from Open Skies Treaty

The United States has announced to withdraw from the Open Skies Treaty. It is the third arms control pact Trump has abrogated since coming to office. This 18-year-old pact was designed to improve military transparency & confidence between superpowers.

Did you Know

Including Russia & United States, the treaty has 35 signatories.

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HDFC Bank launches special FD scheme for senior citizens

Private sector lender, HDFC Bank launched an FD scheme for seniors called 'Senior Citizen Care FD'. According to this scheme, the bank is offering an additional 75 basis points for deposits with more than 5-year tenors with investments up to Rs 5 crore.

Did you Know

HDFC Bank CEO: Aditya Puri.

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CCI approves acquisition of Emami Cement Limited by Nuvoco Vistas Corporation Limited

CCI approves acquisition of 100% of the total issued and paid up share capital of Emami Cement Ltd, on fully diluted basis, by Nuvoco Vistas Corp Ltd. NVCL is a Nirma promoter group company engaged in manufacturing and sale of variety of grey cements.

Did you Know

CCI Headquarters: New Delhi. Chairman: Ashok Kumar Gupta.

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ICICI Bank launches special FD scheme with higher rate for senior citizens

ICICI Bank launched ‘ICICI Bank Golden Years FD’ for senior citizens. It offers them an interest rate of 6.55% p.a. for deposits up to Rs 2 crore with a tenure of more than 5 to 10 years. It offers 0.80% higher interest than applicable to general public.

Did you Know

ICICI Bank, Founded: June 1994, Vadodara.

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Govinda Rajulu Chintala appointed NABARD chairman

The Appointments Committee of the cabinet cleared Chintala’s appointment, currently CGM at NABARD, for 2 years. It also cleared the appointment of Shaji KV, currently General Manager at Canara Bank, as Deputy Managing Director at NABARD for five years.

Did you Know

National Bank for Agriculture and Rural Development (NABARD).

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International Day to End Obstetric Fistula: 23 May

May 23 - UN’s International Day to End Obstetric Fistula, which promotes action towards treating and preventing obstetric fistula, a condition that affects many girls and women. Theme 2020: "End gender inequality! End health inequities! End Fistula now!"

Did you Know

Around 2 to 3 mn women in developing countries living with it.

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Aussie Grand Slam winner Ashley Cooper dies

8-time Grand Slam-winning Australian tennis player Ashley Cooper has died. The Australian, Wimbledon and U.S. singles titleholder, was part of the golden era of Australian men’s tennis in 1950s winning four Grand Slams singles titles and four in doubles.

Did you Know

Tennis Australia CEO - Craig Tiley.

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KKR to invest Rs 11,367 crore in Jio Platforms for 2.32% stake

Private equity firm KKR is set to invest Rs 11367 crore in Jio Platforms for a 2.32% stake. This will be the fifth investment in Reliance company business in rapid succession, following Facebook, Silver Lake, Vista Equity Partners and General Atlantic.

Did you Know

It is KKR’s largest investment in Asia. KKR was founded in 1976.

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Renowned vocalist Shyamala G Bhave no more

Renowned vocalist Shyamala G Bhave, who had an equal command over Hindustani and Carnatic music, passed away. She was 79. Her mother Lakshmi Bhave was also a classical vocalist.

Did you Know

She was tutored by A Subbaraya and B Doreswamy.

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Intel acquires Rivet Networks, the maker of 'Killer' WiFi cards

Intel has bought the company behind the popular Killer brand of Wi-Fi products found in laptops from Alienware, Dell, Lenovo, HP and more.Rivet Networks, which was previously acquired by Qualcomm in 2011, makes network interface cards (NICs).

Did you Know

Its technology boasts gaming-centric features.

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World Turtle Day : 23 May

World Turtle Day is observed on May 23rd each year and is celebrated throughout the world. It was started in 2000 by American Tortoise Rescue.The day includes motivating humans to step forward virtually and help turtles survive.

Did you Know

American Tortoise Rescue,Headquarters: California,United States.

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Former U.P. minister Naipal Singh passes away

Former Uttar Pradesh minister Naipal Singh passed away.Mr. Singh had served in the State cabinet headed by Kalyan Singh and Rajnath Singh.In 2014, he became a member of parliament from Rampur Lok Sabha seat.

Did you Know

He was 5-time member of the Uttar Pradesh Legislative Council.

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Delhi HC judge Sangita Dhingra Sehgal named president of Delhi State Consumer Commission

Delhi High Court judge, Justice Sangita Dhingra Sehgal has tendered her resignation from the post following her appointment as President of the Delhi State Consumer Dispute Redressal Commission.

Did you Know

The retirement age of a high court judge is 62 years.

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FIEO expects 20 per cent fall in export during FY21

According to the Federation of Indian Export Organisations, exports from India is expected to fall by 20% in FY21 in the wake of the pandemic. The outlook is "extremely negative" at the moment and fall in export to be accompanied by a decline in import.

Did you Know

FIEO director general and chief executive officer: Ajay Sahai.