Daily : February 8, 2018

Sixth Bi-monthly Monetary Policy Statement, 2017-18

Sixth Bi-monthly Monetary Policy Statement, 2017-18

Question- On February 7th, 2018, the Governor of Reserve Bank of India Dr Urjit Patel and Monetary Policy Committee (MPC) released the sixth bi-monthly monetary policy statement, 2017-18. According to what percentage of the policy repo rate has been retained?
(a) 6.25 percent
(b) 6.50 percent
(c) 6.75 percent
(d) 6.0 percent
Answer: (d)
Related Facts:

  • On February 7th, 2018, Governor of Reserve Bank of India, Dr. Urjit Patel and Monetary Policy Committee (MPC) released sixth bi-monthly monetary policy statement, 2017-18.
  • Reserve Bank of India has kept policy rates, reserve cash ratio, net demand and periodic liabilities unchanged in the sixth bi-monthly monetary policy statement.
  • Policy repo rate under the liquidity adjustment facility (LAF) kept unchanged at 6.0 per cent.
  • Earlier, on December 6th, 2017, the fifth bi-monthly policy had been issued, in which policy rates were kept unchanged.
  • It is known that in the third bi-monetary policy statement, 2017-18 issued on August 2nd, 2017 the RBI had reduced the policy repo rate from 6.25 percent to 6.0 percent by decreasing basis points by 25.
  • The Statutory Liquidity Ratio (SLR) of scheduled commercial banks is kept unchanged at 19.50 percent.
  • Keeping the Cash Reserve Ratio (CRR) of scheduled commercial banks unchanged, it retained 4 percent of Net Demand and Time Liabilities (NDTL).
  • As a result, the Reverse Repo Rate under the liquidity adjustment facility is 5.75 and the Marginal Standing Facility Rate (MSF) and Bank Rate is 6.25 percent.
  • The real gross value added (GVA) growth as per the first advance estimates (FAE) released by the Central Statistics Office (CSO) is estimated to decelerate to 6.1 per cent in 2017-18 from 7.1 per cent in 2016-17.
  • Turning to the growth outlook, GVA growth for 2017-18 is projected at 6.6 per cent.

Reference:
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=43078

India Successfully Test Fires Prithvi-II Missile

Successfully Test Fires of Prithvi-II Missile

Question- On February 7th, 2018, the Integrated Test Range, Chandipur, successfully tested the Prithvi-II missile. Its strike range is
(a) 500km
(b) 250km
(c) 350km
(d) 550km
Answer- (c)
Related Facts:

  • India successfully tested the indigenously built nuclear-capable Prithvi Missile-II guided missile. (February 7, 2018)
  • Tactical Force Command (SFC) of the Indian Army tested the missile through the mobile launcher from launch pad-III of the Integrated Test Range at Chandipur (complex-3).
  • This surface-to-surface medium range missile has a strike range of 350 km.
  • The missile weighs about 4,600 kg and it is capable of carrying 500 to 1,000 kilogram of traditional and nuclear warheads.
  • Developed under the joint collaboration of Defence Research and Development Organization (DRDO) and Bharat Dynamics Limited, the missile was first test-fired on 27 January 1996.
  • It is powered by liquid propulsion twin engines.
  • Inducted in the Indian Army in year 2003 Prithvi Missile-II is a single-level liquid fueled which was developed by the DRDO under Integrated Guided Missile Development Program (IGMDP).

Reference:
https://economictimes.indiatimes.com/news/defence/nia-nabs-one-more-in-connection-with-let-probe-gets-six-days-custody/articleshow/62818459.cms
http://odishatv.in/odisha/body-slider/india-successfully-test-fires-prithvi-ii-missile-274756

India to host ministerial session of International Energy Forum 2018

16th International Energy Forum

Question: Where will the Ministerial Meeting of the 16th International Energy Forum be held?
(a) Algiers
(b) New Delhi
(c) Beijing
(d) Seoul
Answer: (b)
Related Facts:

  • From 10th-12th April 2018, Ministerial Meeting of the 16th International Energy Forum will be New Delhi.
  • The host country of this meeting is India with China and South Korea as co-host.
  • In this meeting, representatives of 92 countries including 72 member countries of the International Energy Forum and 20 guest countries will participate.
  • Minister-level meeting of the 15th International Energy Forum was held between September26th -28th, 2016 in Algiers, Algeria.
  • Prior to this meeting the Minister-level meeting of the International Energy Forum was held in India in 1996.

Reference:
https://www.ief.org/ief16-ministerial.aspx
https://www.deccanchronicle.com/videos/16th-international-energy-forum-ministerial-meeting-to-be-held-in-april-2018-dharmendra-pradhan.html
https://economictimes.indiatimes.com/industry/energy/oil-gas/india-to-host-ministerial-session-of-international-energy-forum-2018/articleshow/54432176.cms
http://www.business-standard.com/article/news-ani/india-to-host-16th-international-energy-forum-meet-118012201231_1.html

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