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.
RBI to extend 15,000 crore rupee line of credit to EXIM Bank.
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.
ONGC CEO: Shashi Shankar. NTPC Chief: Gurdeep Singh.
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.
Ramesh ‘Pokhriyal’ Nishank Constituency: Haridwar, Uttarakhand.
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.
It houses 36 different species & is a major tourist attraction.
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.
The expenditure to be shared by Centre & States in ratio 60:40.
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%.
ABV owns 100 per cent stake in Adjaristsqali Georgia LLC (AGL).
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.
India has 3rd highest number of patients after China and the US.
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.
Including Russia & United States, the treaty has 35 signatories.
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.
HDFC Bank CEO: Aditya Puri.
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.
CCI Headquarters: New Delhi. Chairman: Ashok Kumar Gupta.
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.
ICICI Bank, Founded: June 1994, Vadodara.
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.
National Bank for Agriculture and Rural Development (NABARD).
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!"
Around 2 to 3 mn women in developing countries living with it.
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.
Tennis Australia CEO - Craig Tiley.
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.
It is KKR’s largest investment in Asia. KKR was founded in 1976.
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.
She was tutored by A Subbaraya and B Doreswamy.
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).
Its technology boasts gaming-centric features.
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.
American Tortoise Rescue,Headquarters: California,United States.
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.
He was 5-time member of the Uttar Pradesh Legislative Council.
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.
The retirement age of a high court judge is 62 years.
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.
FIEO director general and chief executive officer: Ajay Sahai.
In Madhya Pradesh, Chief Minister Shivraj Singh Chouhan will inaugurate the 'Everybody will get employment' scheme to provide employment to migrant labourers, through video conferencing. Under this, MNREGA job cards will be distributed to labourers.
Madhya Pradesh Governor: Lalji Tandon.