Current Affairs
August 9 , 2019
Rajya Sabha passes Consumer Protection Bill
The Bill seeks to strengthen the rights of consumers and provides a mechanism for redressal of complaints regarding defects in goods and deficiency in services. The Rajya Sabha passed the Consumer Protection Bill, 2019 that provides for the establishment of authorities for the timely and effective administration and settlement of consumer disputes....
August 8 , 2019
RBI cuts repo rate by 35 basis points to 5.4%
India’s central bank announced an array of conventional and unconventional measures to boost slowing economic growth, including reducing the benchmark interest rate by an irregular 35 basis points (bps), its fourth rate cut this year. The Reserve Bank of India’s six-member rate-setting panel cut the repurchase rate to 5.4%, the lowest in almost a d...
August 7 , 2019
Centre approves Rs 4,900 crore Kosi-Mechi Interlinking project in Bihar
Union Government has approved Rs 4,900 crore Kosi-Mechi Interlinking project for interlinking of Kosi and Mechi rivers of Bihar. This is the second major river interlinking project in the country to be approved by Central Government after the Ken-Betwa project in Madhya Pradesh. This approval comes after this project secured the last remaining mand...
August 6 , 2019
Udaipur set to host India's largest education Brainstorm
The third edition of India's largest education brainstorming event, the ScooNews Global Educators Fest (SGEF) will be held on August 09 and 10 in Udaipur- the City of Lakes. It will bring together over 500 educators to discuss the way towards establishing India as the next global education powerhouse. The theme for this year's fest is 'Education fo...
August 5 , 2019
RBI imposes ₹11 cr fine on seven PSBs for violating norms
The Reserve Bank has imposed a collective penalty of ₹11 crore on seven public sector banks for violating norms on current account opening. Allahabad Bank and Bank of Maharashtra have been imposed a fine of ₹2 crore each, Bank of Baroda, Bank of India, Indian Overseas Bank and United Bank of India have been slapped with fines of ₹1.5 crore each, wh...
August 3 , 2019
Affordable housing gets a ₹10,000-crore booster
In order to boost the housing sector, the government announced providing liquidity of ₹10,000 crore for individual housing loans. The National Housing Bank (NHB) is making available from August 2, a liquidity infusion facility of ₹10,000 crore for Housing Finance Companies as additional liquidity for individual housing loans, for affordable housing...
August 2 , 2019
One nation one ration card scheme implemented in four States
One nation one ration card scheme was launched a pilot basis in four states- Gujarat, Maharashtra, Telangana and Andhra Pradesh. The scheme will provide a major boost to the national food security government. Under the one nation one ration card scheme, families who have food security cards will be able to buy rice, wheat or any food grain at a sub...
August 1 , 2019
India Post Payments Bank to Be Converted into Small Finance Bank
The postal department has decided to convert the India Post Payments Bank into a small finance bank, enabling it to offer small loans to customers. Besides, the department looks to open one crore accounts for IPPB in 100 days. The decisions were taken at the annual Heads of Circles Conference held at Srinagar in Jammu and Kashmir from July 29-31, 2...
July 31 , 2019
Sniper Frontier Competition: 2019
A nine member Indian Army team has left for Belarus to compete in the Sniper Frontier Competition as part of the International Army Games schedule 03 Aug to 17 Aug 19. It is a thirteen-day intense sniper competition and encompassing flexibility of mind, physical fitness along with firing. The competition is likely to have over twenty-three particip...
July 30 , 2019
After West Bengal, Odisha gets GI tag for its version of Rasgulla
Odisha bagged the geographical indication (GI) tag for its “Rasagola”, thus bringing it a late cheer in its battle since 2015 with West Bengal on the sweet’s origin. West Bengal had won the first round. Both states staked their claim on the syrupy dessert. In 2017, West Bengal secured the GI tag for its “Banglar Rasogolla”. Now with Odisha also sec...