RBI eases cash reserve rules to ease liquidity

  • The Reserve Bank of India (RBI) has allowed banks to dip further into statutory cash reserves in a bid to ease liquidity.
  • Banks can use up to 15% of holdings under the statutory liquidity reserves to meet their liquidity coverage ratio (LCR).
  • The previous figure was 13%.
  • This move was made because banks were unwilling to lend to NBFCs.

Government constitutes Lokpal Search Committee

  • The government has set up an eight-member Lokpal Search Committee under the Chairmanship of former Supreme Court Judge, Justice Ranjana Prakash Desai.
  • Prasar Bharati Chairman A Surya Prakash, former SBI Chief Arundhati Bhattacharya and Justice Sukha Ram Singh Yadav among others will be members of the panel.
  • The committee will recommend the chairperson and members of the anti-corruption ombudsman Lokpal.

Tourism Minister launches Incredible India mobile app

  • Union Minister for Tourism, K.J. Alphons, launched the ‘Incredible India Mobile App’.
  • Incredible India Mobile App, showcases India as a holistic destination, revolving around major experiences, such as spirituality, heritage, adventure, culture, yoga, and wellness.
  • The app has been equipped with features to assist the traveller in each phase of their journey to India.

Cabinet approves conversion of GSTN into government entity

  • The Union Cabinet has approved increasing the government ownership in Goods and Services Tax Network (GSTN).
  • The Cabinet has also approved a change in the existing structure with a transitional plan.

Govt launches Agmark online system

  • The government has launched an online platform for processing applications related to quality certification mark ‘Agmark’ for agricultural products.
  • Agmark is a certification mark that assures that a product conforms to a set of standards approved by the government agency Directorate of Marketing and Inspection.
  • In the new online application system, there are provisions for online receipt of fees from applicants.
  • Payment will be received in digital mode through the website bharatkosh.gov.in.

IISc Bengaluru is top India institute in global list

  • The Indian Institute of Science, Bengaluru, has retained its position as the highest-ranked centre in the country.
  • Overall, Oxford continues to hold top spot, Cambridge second, and Stanford third.
  • Massachusetts Institute of Technology (MIT) rose one place to number four.

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