Latest Current Affairs: 28 March 2020

Current
Affairs 28^th March 2020

RBI action against COVID-19: cuts Repo Rate, CRR and reverse repo rate

RBI reduces the Repo rate by 0.75%
and the new Repo rate is 4.40%. The repo rate has been reduced by 75 basis
points from 5.15 percent to 4.4 percent.
RBI reduces reverse Repo rate by
0.90% and the new reverse Repo rate is 4%. The reverse repo rate reduced by 90
basis points to 4 percent to incentivize banks to lend.
Cash Reserve Ratio of all banks
reduced by 100 basis points to 3 percent of net demand and time liabilities
with effect for one year from March 28.

Rate	Old	New	Cut
Policy Repo Rate	5.15%	4.40%	0.75%
Reverse Repo Rate	4.90%	4.00%	0.90%
Cash Reserve Ratio (CRR)	4.00%	3.00%	1.00%
Statutory Liquidity Ratio (SLR)	18.25%	19.50%	0.00%

RBI:
Reserve Bank of India
Established: 1st April, 1935

Act: Reserve Bank of India Act, 1934

Currency: Indian rupee

Headquarters: Mumbai, Maharashtra

Governor: Shaktikanta Das

4 Astroid coming toward the earth:
NASA

The four asteroids heading towards
Earth include 2020 FV4, 2020 FP, 2012 XA133 and 2020 FV3.
One among the four asteroids is a
1,280-foot wide asteroid.

2020 FV4: 2020 FV4 is the first asteroid that
will fly past Earth today. The asteroid is currently flying at an estimated
speed of 19,000 miles per hour. It has a diameter of 164 feet. It is expected
to come closest to the Earth at around 7:07am EDT on March 26. The distance at
this time is projected to be around 0.02505 astronomical units or about 2.3
million miles away.
2020 FP: The second asteroid to approach
Earth tomorrow is 2020 FP. The asteroid, measuring about 128 wide, is currently
flying at an average speed of 21,000 miles per hour. It is expected to fly past
Earth at 7:39 pm EDT on March 26. It will fly past from a safe distance of
about 0.03767 astronomical units, which is around 3.5 million miles away.
2012 XA133: 2012 XA133 or city killer as it is
being called is the third asteroid heading towards the Earth. It is biggest and
fastest among the four asteroids. This asteroid, measuring about 1, 280 feet
wide, is moving towards the Earth with a speed of 53,000 miles per hour. It has
the capability of destroying an entire city if it hits the Earth due to its
large size and fast speed. The asteroid has been labeled as a potentially
hazardous asteroid. It is expected to approach Earth at 10.52 pm EDT on March
26. Its closest approach would be from about 0.04453 astronomical units or
around 4 million miles away.
2020 FV3: The 2020 FV3 asteroid is the fourth
and the last asteroid to approach the Earth tomorrow. The asteroid, with a
diameter of about 59 feet, is expected to fly past our planet at 11:07 EDT on
March 26. It is flying at an average speed of 15,000 miles per hour.

NASA: National Aeronautics and Space
Administration
Formed: 29 July 1958; 61 years ago

Jurisdiction: US Federal Government

Headquarters: Washington D.C., U.S.

Motto: For the benefit of all

Government restricts sale, export,
distribution of Hydroxychloroquine

Aim:
To prevent misuse of Hydroxychloroquine.

The Health Ministry has directed
that the sale by retail of any preparation containing the Hydroxychloroquine
drug shall have to be in accordance with the conditions specified for sale of
drugs under Schedule H1 of the Drugs and Cosmetics Rules, 1945.
The ‘Hydroxychloroquine’ drug is
stated to be an essential drug to meet the requirements to tackle the emergency
arising due to the COVID-19 pandemic. However, the drug is in short supply.

Finance Minister Nirmala Sithamraman
declared Rs. 1.70 Lakh crore relief package under Pradhan Mantri Garib Kalyan
Yojanaa

Finance & Corporate Affairs
Minister Smt. Nirmala Sitharaman has publicized the Rs. 1.70 Lakh Crore relief
package under Pradhan Mantri Garib KalyanYojana (PMGKY), during the Press
Conference in New Delhi.

Coverage:
Any health professional, who while treating Covid-19 patients, met with some accident
would be compensated with an amount of Rs. 50 lakh under the scheme. Approximately
22 lakh health workers would be provided insurance cover to fight this
pandemic.
Pradhan
Mantri Garib Kalyan Ann Yojana: This scheme ensures
non-availability of food grains due to disruption in the next three months and
will cover 80 crore poor individuals. Each one of them would be provided double
of their current entitlement over the next three months. This additionality
would be free of cost.
Pradhan Mantri
Kisan Samman Nidhi: The government will start
transferring the first instalment of Rs 2,000 due in 2020-21 under Pradhan
Mantri Kisan Samman Nidhi (PM-KISAN) from the first week of April 2020. Costing
around Rs. 15,000 crore to Centre, it will benefit 8.69 crore farmers.
Mahatma Gandhi National Rural Employment
Guarantee Act: Government has increased MNREGA (Mahatma Gandhi National Rural
Employment Guarantee Act) wage by Rs. 20 to Rs. 202 a day from Rs. 182 with
effect from 1 April, 2020. It will benefit 13.62 crore families.
Pradhan
Mantri Jan Dhan Yojana: The 20 crore Pradhan Mantri
Jan-DhanYojana (PMJDY) women account-holders would be given an ex-gratia of Rs.
500 per month for next three months.
A support of Rs. 1,000 for next
three months to poor senior citizens (above 60 years), widows and Divyang will
be provided to get over difficulties created due to COVID-19.
Central Government has given orders
to State Governments to use Rs.. 31000 crore Building and Construction Workers
Welfare Fund to provide assistance to Construction Workers.
Gas cylinders would be provided free
of cost to poor families for the next three months. It will cost Rs. 19,200
crore.

PM Narendra Modi participated in Virtual G20 Leaders’ Summit
to; over USD 5 trillion to be injected to develop action plan against COVID-19

Prime Minister Narendra Modi
participated in an extraordinary “Virtual Group of 20 (G20) Leaders’ Summit which
was hosted by Saudi Arabia Crown Prince Mohammed bin Salman Al Saud
through video conference.
To inject over USD 5 trillion into
the global economy to counter the social and economic impact of COVID-19.
Leaders also agreed to contribute to the WHO led COVID-19 Solidarity Response
Fund on a voluntary basis.

G20:
Group of Twenty

Formation: 26
September 1999; 20 years ago

Membership:
20 Member; Argentina, Australia, Brazil, Canada, China, France,
Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia,
South Africa, Turkey, United Kingdom (UK), United States (US), and European
Union (EU). Spain is a permanent guest invitee to the G20.
Chairman: King Salman bin Abdulaziz Al Saud
Current Presidency: Saudi Arabia

Largest COVID-19 hospital sets up in to Odisha

The Odisha Government announced that
it is readying to set up the largest COVID-19 hospital in India due to the
outbreak of the Corona-virus in the country. The state-level hospitals will have
1000 beds in Bhubaneswar, Odisha and will be functional in a fortnight.

Odisha:

Statehood:
1 April 1936
Capital: Bhubaneswar

Largest
City: Bhubaneswar

District:
30
Governor: Ganeshi Lal

Chief
Minister: Naveen Patnaik

Legislature
Seats: 147 Seats
Parliament Seats: LS – 21 Seats,
RS – 10 Seats.

High
Court: Odisha High Court, Cuttack

Short Notes

27 March: World Theatre DayTheme:
Theatre and Culture of Peace
Aviation sector might face losses up to USD
3.6 billion in June quarter.
Hospital in Jaipur to use humanoid robot to
serve COVID-19 patients.
UK Prime Minister Boris Johnson tests positive
for COVID-19.
CRISIL trims India’s GDP growth estimate for
FY 21 to 3.5 % from 5.2%
US launches advanced satellite for
communication named Advanced Extremely High Frequency (AEHF-6).

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