The Reserve Bank of India (RBI) has released the Monetary Policy Report (MPR) for the month of October 2021. It kept the policy rate unchanged for the Eighth time in a row maintaining an accommodative stance till the recovery is durable. Important points: Repo Rate – 4%. Reverse Repo Rate – 3.35%. Marginal Standing Facility (MSF) – 4.25%. Bank Rate- …

The Union Government is considering increasing the unit cost of deep-sea fishing vessels from Rs 80 L to Rs 1.3 Cr under the Palk Bay scheme to make it more attractive to fisherfolk. Earlier, the Marine Fisheries Bill 2021 was tabled in the Parliament during the Monsoon session. Important points: The Scheme, “Diversification Of Trawl Fishing …

Recently, the Supreme Court (SC) has questioned the methodology adopted by the government in fixing Rs. 8 lakh as the annual income limit to identify the Economically Weaker Section (EWS) for providing 10% quota in public jobs and educational institutions. Important points: The 10% EWS quota was introduced under the 103rd Constitution (Amendment) Act, 2019 by amending Articles 15 and …

The 2021 Nobel Prize in Literature has been awarded to novelist Abdulrazak Gurnah “for his uncompromising and compassionate penetration of the effects of colonialism and the fate of the refugee in the gulf between cultures and continents”. Last year, the award was given to Louise Glück “for her unmistakable poetic voice that with austere beauty makes individual existence …

Recently, the 6th Edition of India – UK Joint Company Level Military Training Exercise AJEYA WARRIOR has commenced in Uttarakhand. Earlier, India and the UK participated in a two-day bilateral Passage Exercise (PASSEX) in the Bay of Bengal. Important points: The exercise is conducted alternatively in the United Kingdom and India. The exercise is part of an initiative to …

Recently, Hindustan Aeronautics Ltd (HAL) delivered the heaviest semi-cryogenic propellant tank (SC120- LOX) to the Indian Space Research Organization (ISRO). In 2020, HAL delivered the biggest ever cryogenic Liquid Hydrogen tank (C32-LH2) to ISRO. Important points: The semi cryo-liquid oxygen (LOX) tank – the first developmental welded hardware – is a part of the SC120 stage intended for payload enhancement by …

Recently, the Department of Food and Public Distribution has developed an application ecosystem for integration of procurement portals of all state governments. Important points: The Application Ecosystem will allow the integration of procurement portals of all state governments having Minimum Threshold Parameters (MTPs) for monitoring and strategic decision making. The introduction of MTPs in procurement …

Recently, the World Meteorological Organization (WMO) released the State of Climate Services report 2021. It focuses on Terrestrial Water Storage. Earlier, on water day(22nd March), in a report released by the United Nations Children’s Fund (UNICEF), one in five children worldwide reside in areas of high or extremely high water vulnerability. Important points: TWS is the sum of all water on the land surface …

Recently, the government released cybersecurity guidelines for the power sector. This is the first time that a comprehensive guideline has been formulated on cyber security in the power sector. The guidelines are a precursor to cybersecurity regulations that the Central Electricity Authority (CEA, Ministry of Power) is working on. Important points: CEA has framed the guidelines under the Central …

India has been ranked 90th in the most powerful passport report ‘Henley Passport Index 2021’. Important points: The Henley Passport Index is the original ranking of all the world’s passports according to the number of destinations their holders can access without a prior visa. Originally created by Dr. Christian H. Kaelin (chairman of Henley & Partners), the ranking is …