RBI to buy government securities on open market
- The Reserve Bank of India (RBI) is set to purchase government securities (G-secs) worth Rs. 10,000 crore.
- The government securities will be purchased through Open Market Operations (OMO).
- The aim is to induce liquidity in the system.
- When there is excess liquidity in the market, RBI sells securities, decreasing rupee liquidity; when liquidity conditions are tight, RBI buys securities from the market, increasing liquidity in the market.
Cabinet approves MoU with BRICS members on joint blockchain research
- The Union Cabinet has approved an MoU on the collaborative research of distributed ledger technology (DLT).
- The research will be jointly conducted by the Export-Import Bank of India (known as Exim Bank) and one bank from each BRICS member states.
- Blockchain is one type of a distributed ledger.
- Distributed ledgers use independent computers to record, share and synchronize transactions in their respective electronic ledgers (instead of keeping data centralized as in a traditional ledger).
Govt launches National Scholarship Portal mobile app
- The Union Minister for Minority Affairs, Mukhtar Abbas Naqvi, has launched the country’s first “National Scholarship Portal Mobile App” (NSP mobile app).
- The app aims to ensure a smooth, accessible and hassle-free scholarship system for students from poor and weaker sections.
- Through the National Scholarship Portal, all scholarships are deposited directly into bank accounts of needy students under Direct Benefit Transfer (DBT) mode.
- The app will also provide students with all the information regarding various scholarships ; they will be able to apply for scholarships via the app.
Country’s 1st tribal tourism circuit launched in Chhattisgarh
- Minister of State for Tourism, K J Alphons, inaugurated the country’s first tribal circuit project.
- It will connect 13 tourism sites in the state.
Indian hockey great Sardar Singh retires from international game
- Former Indian hockey captain Sardar Singh has announced his retirement from international hockey.
- His decision came after the 2018 Asian Games; India won a bronze medal at the tournament and failed to defend their title.
- The 32-year-old made his senior debut for India against Pakistan in 2006.
- Singh has played over 350 international matches, captaining the side for 6 years.
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