AspirantWorld One liners : 22nd May

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• The Reserve Bank of India (RBI) cuts repo rate by 40 basis points (bps) to 4% from 4.4% on 22 May. The Central Bank also adjusted the reverse repo rate to 3.35% from 3.75%. The announcement was made by RBI Governor Shaktikanta Das.

• Madhya Pradesh State Government is to launch Everybody will get employment scheme. The scheme will be inaugurated by Madhya Pradesh CM Shivraj Singh Chouhan through video conferencing. Under this scheme, Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) job cards will be distributed to the labourers.

• The Reserve Bank of India (RBI) announced Rs.15,000 crore line of credit (LoC) to the Export-Import Bank of India (EXIM) on 22 May. The move by RBI is to help the sagging foreign trade. EXIM Bank depends on foreign currency borrowings for its operations.

• NTPC Ltd., the PSU under Ministry of Power, signed a Memorandum of Understanding (MoU) with Oil and Natural Gas Corporation Limited (ONGC), the PSU under Ministry of Petroleum and Natural Gas on 22 May. The MoU aimed to set up a Joint Venture (JV) Company for the Renewable Energy business.

• International Day for Biological Diversity (IDB) is observed on 22 May. The day to increase understanding and awareness of biodiversity issues. It calls people to re-examine human relationship to the natural world. The theme for 2020 International Day for Biological Diversity is Our solutions are in nature.

• International Tea Day is observed on 21 May every year. The day provides an opportunity to celebrate the cultural heritage, health benefits, and economic importance of tea. The day is celebrated by the United Nations Food and Agriculture Organisation (FAO).

• World Day for Cultural Diversity for Dialogue and Development is observed on 21 May. The day celebrates the richness of the world’s cultures and the essential role of intercultural dialogue for achieving peace and sustainable development. The day aims to promote culture and highlight the significance of its diversity as an agent of inclusion and positive change.

• Researchers at the Indian Institute of Technology (IIT) Guwahati have discovered a new method to help prevent or reduce short-term memory losses associated with Alzheimer’s disease. In this method, the researchers used ‘Trojan peptides’ to arrest the aggregation of the neurotoxic molecules.

• GoI has launched a scheme for the solarisation of Konark Sun Temple and Konark town in Odisha. The announcement was made by the Ministry of New and Renewable Energy. The main objective of the scheme is to develop the historical Sun temple town of Konark in Odisha as Surya Nagri.

• Ministry of Defence (MoD) has approved the procurement of 26 defence items only from local suppliers to boost the “Make in India” initiative. GoI has issued Public Procurement (Preference to Make in India) Order 2017 to promote the manufacturing and production of goods and services in India.

• Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) launched the “Agappe Chitra Magna”, a magnetic nanoparticle-based RNA extraction kit for use during testing for detection of COVID-19. The RNA extraction kit was developed by SCTIMST along with Agappe Diagnostics Ltd, an in vitro diagnostics manufacturing company based in Cochin.

• The Union Cabinet chaired by Prime Minister Narendra Modi approved the proposal of the Ministry of Finance (MoF) to launch a new Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs). The scheme aims to improve the liquidity position of the NBFCs/HFCs.

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