One liners 2nd March

• Union Bank of India, the State-run lender, said it had reduced the Marginal Cost of funds-based Lending Rate (MCLR) by 10 basis points across all tenors.

• The Reserve Bank of India (RBI) has formed a task force on the offshore rupee market. It will be headed by former Deputy Governor Usha Thorat and will recommend steps for ensuring the stability of the currency.

• The data from the Ministry of Commerce and Industries reported that the growth rate eight core sectors which include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity witnessed a decline.

• Reserve Bank of India (RBI) have signed a bilateral swap agreement with the Bank of Japan. The Swap agreement will provide India access to 75 billion US dollars against the 50 billion dollars under earlier BSA.

• Tata Steel has been recognised as one of World’s Most Ethical Companies by the Ethisphere Institute for 2019. Ethisphere Institute is a global leader in defining and advancing the standards of ethical business practices.

• This comes weeks after reports suggested that the cash-strapped Jet airline has agreed to most of the conditions set by its second-largest shareholder Etihad for its revival. Etihad had agreed to invest in Jet Airways if Goyal stepped down from the board.

• Creating a collaborative ecosystem with enterprises, fintech and app developers, and enhancing customer-service delivery, DCB Bank announced the launch of its Open Banking Platform.

• IFFCO Tokio General Insurance launched ‘bank locker protector policy’, the first stand-alone bank locker cover offered by any insurance company with a plan to protect the contents of a bank locker such as jewelry, title documents, and other valuables.

• Border Security Force (BSF) and Border Guards Bangladesh (BGB) concluded a three-day Mainamati Maitree Exercise 2019 as a part of confidence-building measures between the two border guards.

• National Boxing champion Deepak Singh (49kg) is the only Indian boxer who won gold medal at Makran Cup in Boxing held at Chabahar, Iran.

• Shri Ajay Narayan Jha joined the 15th Finance Commission as its Member in place of Shri Shaktikanta Das resigned as a Member of the Commission after being appointed as Governor of the Reserve Bank of India (RBI).

• Punjab National Bank (PNB) secured top spot among all public sector banks in the implementation of ‘Reforms agenda’. PNB topped the list with a score of 78.4 out of 100 in the EASE-index which is followed by BoB (77.8), SBI (74.6), and Oriental Bank of Commerce (69).

• Indian Air Force (IAF) pilot Wing Commander Abhinandan Varthaman was captured by Pakistani military on 27 February after his MiG-21 jet was shot down in PoK (Pakistan occupied Kashmir).

• The new All India Institute of Medical Sciences (AIIMS) at Manethi, District Rewari, Haryana will be established at a cost of Rs 1,299 crore. Like other AIIMS in the country, the AIIMS Rewari will also be set up under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY).

• The Indian Railway Catering and Tourism Corporation (IRCTC) has launched its much awaited own payment aggregator system called “IRCTC iPay”. The new system will provide payment options like Credit Card, Debit card, Unified Payment Interface (UPI) and International card.

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