1.
Arvind
Kejriwal resigns as national convener of AAP
i. Delhi Chief Minister Arvind Kejriwal today gave his resignation from the
post of AAP Chief, saying he can not do justice by holding both Chief Minister
and Convener’s posts.
ii. Mr Kejriwal had
earlier offered to quit from the post on the 26th of last month but it was
rejected unanimously by the party.
iii. The
National Executive Meeting of the party is being held this afternoon in New
Delhi to discuss the ongoing crisis following criticism by Prashant Bhushan and
Yogendra Yadav that the party was becoming one person-centric.
iv. Yogendra Yadav removed from AAP political
affairs committee days after
he and Prashant Bhushan questioned the functioning of party convenor Arvind
Kejriwal.
v. According to sources, Mr. Yadav came under
attack in the meeting for allegedly leaking information to a reporter which was
later used in a column.
2. RBI reduced Repo
Rate by 25 basis points
i. The
Reserve Bank of India today cut the repo rate by 25 basis points from 7.75% to
7.50% with immediate effect ahead of its seventh bi-monthly policy review on April
7, 2015. There has been no change in the Cash Reserve Ratio (CRR) 4 per cent.
ii. The RBI
had lowered interest rates by 25 bps on Jan 15.
iii. Consequently,
the reverse repo rate under the LAF (Liquidity Adjustment Facility) stands
adjusted to 6.50 per cent, and the marginal standing facility (MSF) rate and
the Bank Rate to 8.50 per cent with immediate effect.
iv. The cut
in the policy rate by RBI will help in lowering interest rate for individual
and corporate borrowers and make home loan and corporate loans cheaper.
Note: On February 3, 2015,
RBI, in its sixth bi-monthly monetary policy statement, keep interest rates
(Repo Rate) unchanged but reduced Statutory Liquidity Ratio (SLR) by 50 basis
points to 21.5% from 22%.
Current Rates are as
follows:
1. Repo Rate – 7.50%
(Changed)
2. Reverse Repo Rate
– 6.50% (Changed)
3. CRR (Cash Reserve
ratio) – 4% (Unchanged)
4. Bank Rate – 8.50%
(Changed)
5. MSF (Marginal
Standing Facility) – 8.50% (Changed)
6. SLR (Statutory
Liquidity Ratio) – 21.5% (Unchanged)
3.
New Urban
Rejuvenation Mission to replace JNNRUM
i. According to the Urban
Development Minister Venkaiah Naidu, government will replace Jawahalal Nehru
National Urban Renewal Mission, JNNRUM with a new Urban Rejuvenation Mission to
bring more areas for development under its ambit.
ii. JNNRUM had already completed its
term, which was launched by previous UPA government. Under the proposed scheme,
cities with population of One Lakh or above will also be covered.
4. Parliament
passes bill merging PIO, OCI schemes
i. Parliament
has passed the Citizenship (Amendment) Bill, 2015, which seeks merger of Person
of Indian Origin (PIO) and Overseas Citizenship of India (OCI) schemes.
ii. The bill approved by Rajya Sabha
today and Lok Sabha had already gave its approval on the bill.
iii. The Bill provides that the central
government may notify that Persons of Indian Origin cardholders shall be
considered to be Overseas Citizen of India card holder.
iv. Under the
bill, people who apply for Indian citizenship will now be allowed a 30-day
break if they have to leave India for sometime and their absence from the
country will not affect their application for citizenship.
5.
National Award conferred to
Rani Mukherjee
i. To highlight the cause of
safety, security and protection of the girl child and women in Mardaani
film, Rani Mukherjee has been selected for the National Award by National Institute of Gender
Justice (NIGJ).
ii. She became the first film
personality to be conferred with the award.
iii. The film Mardaani has been directed by Pradeep Sarkar where
Rani has played the role of Senior Inspector (crime branch) Shivani Shivaji Roy.
iv. The past awardees include Anna Hazare, Pratibha Patil, Pandit
Jasraj and Mahashweta Devi.
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