Daily : April 12, 2017

Madhya Pradesh Government banned plastic-polythene bags

Madhya Pradesh Government banned plastic/polythene bags

Question: Madhya Pradesh government’s decision to ban plastic/polythene carry bags across the state will take effect from
(a) May 1, 2017
(b) November 14, 2017
(c) October 2, 2017
(d) August 15, 2017
Ans: (a)

  • On 11th April, 2017, Madhya Pradesh government decided to ban plastic/polythene carry bags across the state from May 1.
  • The state cabinet, chaired by chief minister Shivraj Singh Chouhan accorded nod to the proposal of imposing ban on plastic/polythene bags across the state from May 1 saying that its consumption results in large number of cow deaths.
  • This ban would not be meant for bucket and other plastic materials. It is restricted to plastic carry bags.

Reference:
http://indiatoday.intoday.in/story/mp-bans-plastic-polythene-bags-from-may-1/1/926130.html
http://mpinfo.org/Story/FrmCabinetDecision.aspx

NBA’s first Basketball School

NBA’s first Basketball School

Question: The National Basketball Association (NBA) recently announced the setting up of its first basketball school in which of the following cities?
(a) New Delhi
(b) Mumbai
(c) Kolkata
(d) Chennai
Ans: (b)

  • On 7th April, 2017, the National Basketball Association (NBA) announced the setting up of its first basketball school, a network of tuition-based basketball development programmes, in Mumbai.
  • The school is open to male and female players between ages 6-18. It is a part of a multi-year agreement with India On Track (IOT).
  • The curriculum has been developed by the NBA’s elite basketball development team in consultation with current and former NBA coaches and former NBA players d to help players, parents, coaches and organizations better understand the process of improvement.
  • It covers on-court training, strength and conditioning, and basketball education for young players between 6-18 years of age and will be implemented by local coaches working directly with the NBA’s international basketball operations staff around the world.
  • The basketball school in Mumbai builds on the NBA’s existing basketball and youth development initiatives in India.
  • It is notable that India On Track (IOT) is a sports management firm.

Reference:
http://www.thehindu.com/todays-paper/tp-sports/nba-basketball-school-launched/article17884111.ece
http://india.nba.com/news/nba-launches-international-basketball-schools-network/

First Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India

First Bi-monthly Monetary Policy Statement, 2017-18

Question: What is the reverse repo rate under the liquidity adjustment facility according to the first Bi-monthly Monetary Policy statement, 2017-18?
(a) 6.25 percent
(b) 6.0 percent
(c) 5.75 percent
(d) 5.50 percent
Ans: (b)

  • Reserve Bank of India released First Bi-monthly Monetary Policy Statement, 2017-18 on 6th April, 2017.
  • The RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent.
  • The reverse repo rate under the LAF is at 6.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate are at 6.50 per cent.
  • The Bi-monthly Policy statement targets medium-term consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.
  • The statement also quotes the Central Statistics Office (CSO) second advance estimates for 2016-17 released on February 28, placing India’s real GVA growth at 6.7 per cent for the year, down from 7 per cent in the first advance estimates released on January 6.
  • Foodgrains production has touched an all-time high of 272 million tonnes, with record production of rice, wheat and pulses.
  • Industrial output, measured by the index of industrial production (IIP), recovered in January from a contraction in the previous month, helped by a broad-based turnaround in manufacturing as well as mining and quarrying.
  • Activity in the services sector appears to be improving as the constraining effects of demonetisation wear off. After three consecutive months of contraction, the services PMI for February and March emerged into the expansion zone on improvement in new business.
  • After moderating continuously over the last six months to a historic low, retail inflation measured by year-on-year changes in the consumer price index (CPI) turned up in February to 3.7 per cent.
  • Excluding food and fuel, inflation moderated in February by 20 basis points to 4.8 per cent, essentially on transient and item-specific factors.
  • With progressive remonetisation, the surplus liquidity in the banking system declined from a peak of Rs.7,956 billion on January 4, 2017 to an average of Rs.6,014 billion in February and further down to Rs.4,806 billion in March.
  • Merchandise exports rose strongly in February 2017 from a subdued profile in the preceding months. Growth impulses were broad-based, with major contributors being engineering goods, petroleum products, iron ore, rice and chemicals.
  • Balance of payments data for Q3 indicate that the current account deficit for the first three quarters of the financial year narrowed to 0.7 per cent of GDP, half of its level a year ago.
  • The level of foreign exchange reserves was US$ 369.9 billion on March 31, 2017.
  • GVA growth is projected to strengthen to 7.4 per cent in 2017-18 from 6.7 per cent in 2016-17

Reference:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=40069

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