At what percentage has RBI kept the repo rate unchanged for the 6th onsecutive time?

Daily Current Affairs

6.23%

6.5%

6.90%

7.27%

Correct Answer : 6.5%

Reserve Bank of India has kept repo rate unchanged at 6.5 percent for the sixth time in a row. The six-member monetary policy committee (MPC) voted by 5:1 majority to keep the repo rate unchanged in its last meeting of the current financial year as retail inflation continues to be above its target of 4 percent.

The repo rate is the interest rate at which banks draw funds from RBI to overcome short-term liquidity mismatches. Announcing the bi-monthly monetary policy today, RBI Governor Shaktikanta Das said, the Standing Deposit Facility rate remains at 6.25 percent and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.75 percent. He has projected the retail inflation based on the Consumer Price Index at 5.4 percent in the current fiscal and 4.5 percent during the next financial year.

The RBI Governor highlighted that domestic economic activity remains strong and real GDP growth is 7.3 % for the year 2023-24. This will be the third successful year for the GDP to grow above 7 percent. RBI has pegged real GDP growth for the next financial year at 7 percent.

The RBI Governor highlighted that agriculture activity is also holding up well, despite lower inflation, lower reservoir level and delayed sowing. The Governor also informed that global growth is expected to remain steady in 2024 with heterogeneity across the region. The global trade momentum remains week. It is showing signs of recovery and is likely to grow faster in 2024, Mr Das said.

The government has mandated the central bank to ensure the retail inflation based on the Consumer Price Index (CPI) remains at 4 percent with a margin of 2 percent on either side..

Source : AIR

Published On : February 8, 2024

Which State of United States is Known as “The Centennial State”?

Colorado holds the distinction of being known as “The Centennial State” among the United States. This nickname stems from its admission into the Union in 1876, precisely 100 years after the signing of the Declaration of Independence. Symbolizing both historical significance and patriotic pride, the title highlights Colorado’s role in commemorating the nation’s centennial while underscoring its rich heritage and contributions to American history.

The Origin of the Nickname “The Centennial State” :

Colorado earned the moniker “The Centennial State” due to its admission into the Union in the year 1876. This year held special significance as it marked the centennial anniversary of the signing of the Declaration of Independence, a pivotal event in American history. The timing of Colorado’s statehood celebration perfectly aligned with the nation’s centennial celebrations, hence the fitting nickname.

Published On : May 13, 2024

Q .

International Day of Plant Health 2024 Observed on?

9th May

10th May

11th May

12th May

Correct Answer : Option (D) - 12th May

The International Day of Plant Health (IDPH) is observed annually on 12 May to raise awareness about the critical importance of protecting plant health. This global initiative aims to prevent hunger, reduce poverty, safeguard biodiversity, and promote economic development worldwide. This year, the International Day of Plant Health falls on Sunday, 12 May 2024, coinciding with Mother’s Day, an event that recognizes the love, care, and sacrifices of mothers.

Theme: ‘Plant Health, Safe Trade, Digital Technology’ :

The theme for the International Day of Plant Health 2024 is ‘Plant Health, Safe Trade, Digital Technology.’ This theme emphasizes the need for international collaboration, standards, and the integration of digital technologies to promote plant health and ensure safe trade practices.

History and Significance :

The United Nations established the International Day of Plant Health to draw public attention to the necessity of safeguarding plant health. The resolution was unanimously adopted by the UN General Assembly in March 2022 and co-sponsored by several countries, including Bolivia, Finland, Pakistan, the Philippines, Tanzania, and Zambia.

The resolution highlights the crucial role of healthy plants in sustainable agricultural development, supporting a growing global population by 2050. It also acknowledges the functions of plants in regulating ecosystems, providing food security and nutrition, and promoting biodiversity.

Published On : May 13, 2024

Q .

Which Indian City is Known as 'City of Bridges'?

Mumbai

Pune

Surat

Bengaluru

Correct Answer : Option (C) - Surat

Surat earned the title "City of Bridges" due to its extensive network of over 120 bridges, surpassing any other city in India.

Which Indian City is Known as “City of Bridges”?

The Indian city known as the “City of Bridges” is Surat, located in the state of Gujarat. Surat boasts an impressive number of bridges, surpassing any other city in India. With over 120 bridges spanning rivers and connecting various parts of the city, Surat’s infrastructure facilitates smooth transportation for its residents. This abundance of bridges has earned Surat its distinctive title, highlighting its significance as a hub of connectivity and urban development.

Why is Surat Known as the “City of Bridges”?

Surat earned the title “City of Bridges” due to its extensive network of over 120 bridges, surpassing any other city in India. Situated along the banks of the Tapi River and close to other water bodies, Surat’s strategic location necessitated the construction of numerous bridges for seamless connectivity. These bridges play a vital role in facilitating smooth transportation within the city, earning Surat its reputation as a hub of connectivity and urban development.

Published On : May 13, 2024