Telangana Current Affairs 5-7th March 2015
TSPSC: Current Affairs 2015
RBI Reduces the Repo Rate to 7.5%
The Reserve Bank of India has cut the repo rate by 25 basis points making it to 7.5%.
What is Repo Rate?
The Repo rate is the rate at which banks borrow funds from the central bank.
This decision made banks to cut their lending rates. The cut in repo will result in lower EMIs (Equally Monthly Installments) on home, car and personal loans.
Reasons for Rate Cut:
Fall in consumer inflation
To boost consumer sentiment and spur spending
To aid economic growth
Child Sex ratio: Declining Rapidly in India
The number of children born every year is declining rapidly in India. The fall is most among the baby girls compared to baby boys. The growth of males child was 5.44% and female child was 4.69% from 2001-2011. The data also shows that just 2% of women under the age of 18 are married today in India.
Shanghvi is the India’s richest: Forbes
Dilip Sanghvi of Sun Pharmaceuticals, with a net worth of $21.5 Billion, surpassed Mukesh Ambani as the World’s richest Indian. Sanghvi ranked 37 and Mukesh at 43rd , Azim Premji is at 48th position among the world’s richest.
Maharashtra scraps 5% Reservation of Muslims
The Maharashtra government has officially scrapped the five percent reservation for the Muslims in educational institutions. But admissions already provided under the quota would be continued.
Yadagirigutta is now “Yadadri”
Chief Minister K. Chandrasekhar Rao accepted the renaming on the suggestion of Srimannarayana Chinna Jeer Swamy. The 8 adjacent hills names would also be changed. The architect for the new structures and restoring the modified ones is C.V. Reddy and the art director is Anand Sai . The Yadagirigutta Temple Development Authority (YTDA) formed with G. Kishan Rao as its Managing Director.
A new banks was announced in the union budget that would boost loans and cut borrowings costs for the cash-starved domestic small business – tailors, mechanics and phone booth operators who account for a 1/5th of the economy. The number of small business units in India is 5.77 crore. SC/ST/OBC own 62% percent of these small units and 106 million workers are working in domestic small business.
MUDRA – Micro Units Development Refinance Agency Bank –to setup with a corpus of Rs.20, 000 crore and accredit guarantee corpus of Rs.3, 000 crore to help micro financing firms to lend more.