Current Affairs of 5 December


5th Bi-Monthly Monetary Policy
5th Bi-Monthly Monetary Policy
5th Bi-Monthly Monetary Policy - Reserve Bank of India has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5%. Consequently, the reverse repo rate under the LAF remains at 6.25%, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%. GDP growth for 2018-19 has been projected at 7.4%.
Repo rate – 6.5% (Unchanged)
Reverse Repo – 6.25% (Unchanged)
Cash Reserve Ratio – 4% (Unchanged)
Statutory Liquidity Ratio – 19.5% (Unchanged)
Bank Rate – 6.75% (Unchanged)
Marginal Standing Facility – 6.75% (Unchanged)

RBI Decided To Reduced SLR
Reduced SLR
RBI Decided To Reduced SLR - The RBI has decided to reduce statutory liquidity ratio by 0.25 per cent every quarter beginning from January. The calibrated reduction in statutory liquidity ratio (SLR) will continue till it reaches 18 per cent. The current SLR is 19.5 per cent. This reduction in SLR holding is likely to free up Rs 1-1.5 lakh crore of funds in the next one and half year into the banking system.

New Guideline For Floating Interest Rate
Floating Interest Rate
New Guideline For Floating Interest Rate - In a bid to ensure greater transparency, the RBI proposed that floating interest rates on personal, home, auto and micro and small enterprises (MSEs) loans will linked to external benchmarks like repo rate or treasury yields, from April 1 next year. Currently, banks follow system of internal benchmarks, including Prime Lending Rate (PLR), Benchmark Prime Lending Rate (BPLR), Base rate and Marginal Cost of Funds based Lending Rate (MCLR).

Gsat-11 Satellite Launched
Gsat-11 Satellite
Gsat-11 Satellite Launched - India’s heaviest satellite Gsat-11 weighing 5,854 kg was finally launched. Arianespace’s Ariane-5 rocket carrying Gsat-11 and a geo satellite of South Korea lifted off at French Guiana. The Ariane 5 also lifted off South Korea’s GEO-KOMPSAT-2A satellites. GSAT-11 will boost the broadband connectivity to rural and inaccessible Gram Panchayats in the country under the Bharat Net Project, which is part of Digital India Programme.

Madame Tussauds Wax Museum
Madame Tussauds Wax Museum India
Madame Tussauds Wax Museum - Ministry of Railways’ National Rail Museum (NRM) and Madame Tussauds Wax Museum join hands together to provide an amazing combo offer to Delhi NCR tourists. This first time ever public-private museum collaboration will help attract more tourists to both National Rail Museum and Madame Tussauds Wax Museum. 

India-ASEAN InnoTech Summit
India-ASEAN InnoTech
India-ASEAN InnoTech Summit - The first India-ASEAN InnoTech Summit was held in New Delhi. It was organized by Federation of Indian Chambers of Commerce & Industry (FICCI) in association with the Department of Science & Technology (DST) and Ministry of External Affairs.

Prime Minister will inaugurate Bogibeel Bridge
Bogibeel Bridge
Prime Minister will inaugurate Bogibeel Bridge - Prime Minister Narendra Modi will inaugurate the Bogibeel Bridge, on December 25. It is India’s longest rail-road bridge, connecting the north and south banks of the Brahmaputra, falling in the eastern part of Assam and Arunachal Pradesh. The bridge is 4.94 km long.

Richest Indian Celebrity
Salman Khan
Richest Indian Celebrity - Bollywood superstar Salman Khan is the richest Indian celebrity, according to the 2018 Forbes India Celebrity 100 list, which he has topped for the third consecutive year. Shah Rukh Khan has fallen out of the top 10 list. Indian cricket captain Virat Kohli was 2nd spot while Actor Akshay Kumar on 3rd spot.

Yes Asset Management
Yes Bank
Yes Asset Management - Private sector lender Yes Bank said its wholly-owned subsidiary Yes Asset Management had received SEBI’s approval to launch two mutual fund schemes. Yes Asset Management (India) is the latest Indian company to enter the mutual fund segment.

Blue Waters Ahoy
Blue Waters Ahoy
Blue Waters Ahoy! - Admiral Sunil Lanba, Chief of the Naval Staff, released a book titled ‘Blue Waters Ahoy!’ – chronicling the Indian Navy’s History from 2001-10. The book has been authored by Vice Admiral Anup Singh.

Indian President Will Visit Myanma
Indian President Ram Nath Kovind
Indian President Will Visit Myanmar - President Ram Nath Kovind will visit Myanmar from December 10 to 14 during which he will hold talks with his counterpart U Win Myint and state counsellor Daw Aung San Suu Kyi. Earlier Prime Minister Narendra Modi had visited Myanmar last year, while Aung San Suu Kyi visited India this January for the India-ASEAN commemorative Summit.

Swapna Barman
Swapna Barman
Swapna Barman - State Bank of India has roped in Asian Games gold medalist Swapna Barman as brand ambassador for its digital app YONO. YONO, the bank's digital platform that makes both lifestyle and banking available through a single app.

World Soil Day
World Soil Day
World Soil Day - The World Soil Day was observed across the world on December 5, 2018. The day is observed annually to highlight the importance of healthy soil and advocate for the sustainable management of soil resources. The theme of the day this year is 'Be the Solution to Soil Pollution'.

India and Peru signed MoU
India and Peru
India and Peru signed MoU - India and the Republic of Peru signed an agreement for co-operation and mutual assistance in customs matters. The agreement was signed on the sidelines of the 80th Session of the Policy Commission meeting of the World Customs Organisations (WCO) which was held in Mumbai during December 3-5, 2018.

Intermediate-Range Nuclear Forces (INF) Treaty
INF Treaty
Intermediate-Range Nuclear Forces (INF) Treaty - United States warned Russia that it will withdraw from a major Cold War treaty limiting mid-range nuclear arms, if Moscow does not dismantle missiles within 60 days. US Secretary of State Mike Pompeo said that the US will no longer be bound by the 1987 Intermediate-Range Nuclear Forces (INF) treaty, unless Moscow withdraws a new system that has threatened to trigger an arms race.

Sahitya Akademi Awards
Sahitya Akademi Awards
Sahitya Akademi Awards - Sahitya Akademi announced its annual Awards in 24 languages. Awards will be presented at a roadshow function to be held on 29th January next year at New Delhi.

National Mission for Clean Ganga
National Mission for Clean Ganga
National Mission for Clean Ganga - The government has sanctioned 254 projects worth over 24 thousand crore rupees under National Mission for Clean Ganga. Mr Gadkari was speaking after inaugurating India Water Impact Summit 2018 in New Delhi.