JULY 1, 2019

NATIONAL NEWS

One Nation one Ration card's scheme from July 1, 2020

• 'One Nation One Ration card' Scheme will be available across the country from July 1, 2020. The Scheme will allow Portability of food security benefits according to which the poor migrant workers will be able to buy subsidized rice and wheat from any ration shop in the country as long as their ration cards are linked to Aadhaar.

'Tribes India' and 'Go Tribal campaign' of Tribes India launched

• The Minister of State for Tribal Affairs launched the following campaign for the Tribes of India in New Delhi

• 'Go Tribal Campaign' of Tribes India launched to promote the use of tribal handicrafts, handicrafts and natural products.

• 'Tribes India' launched globally through Amazon Global selling to step up Exports of Tribal products.

Tamil Yeoman declared Tamil Nadu's state butterfly

• Tamil Yeoman (cirrochroa thais) butterfly has been declared the state butterfly of Tamil Nadu. These butterflies are known as Tamil Maravan, which means Warrior, are found mainly in the hilly areas.

First Resilient Kerala Program setup

• The Government of Kerala and the world bank have signed the Loan Agreement of USD 250 million for the First Resilient Kerala Program. The program will focus on strengthening the state's institutional and financial capacity to protect the assets and livelihoods of poor and vulnerable groups. T

• he New program is part of Rebuild Kerala Development Programme aimed at building a green and resilient Kerala.

ECONOMIC AND FINANCE

RBI relaxes leverage ratio for banks

• The Reverse Bank relaxed the leverage ratio (LR) to 4% for Domestic systemically Important Banks (DSIBs) and 3.5% for other banks. This has been done to help them boost their lending activities.

• The reduced leverage ratio will be effective from the quarter commencing October 1, 2019.

• The leverage ratio, as defined under Basel-III norms, is Tier-1 capital as a percentage of the bank's exposures.

Govt cuts interest rate on small savings schemes

• The GoI has interest rates for small savings schemes by 10 basis points for the July-September quarter of the 2019-20 financial year.

• Some Interest that will fetch lower interest rates are Kisan Vikas Patra (7.6%), Public Provident Fund (7.9%), Sukanya samriddhi Account (8.4%).

India Signs USD 400 loan agreement with World Bank

• India has signed a loan agreement worth 400 million dollar with the world bank to help treat and eliminate Tuberculosis from the country. The World Bank supported program will cover nine states and it will support the government National Strategic plan to end TB in India by 2025

sharad Kumar Saraf as new president

• Exports body Federation of India Export Organisation (FIEO) has selected Sharad Kumar Saraf as its new president. Sharad Kumar Saraf replace renowned exporter Ganesh Kumar Gupta.

AWARD

IIT Kanpur honours Gopichand with honorary doctorate

• IIT Kanpur honours India's chief national badminton coach Pullela Gopichand with honorary  doctorate on the occasion of their 52nd convocation.