Current Affairs of 2 August 2018
Keshav Kishore, Published On:02-Aug-2018
1. Repo rate is now 6.5%
· The Reserve Bank of India increased the repo rate by 25 basis points and the new repo rate is 6.5%.
· To counter the expected inflation after the declaration of MSP and to face the domestic and global uncertainties RBI has taken such decision.
· RBI has retained its growth forecast for current fiscal year and first quarter of next fiscal year 7.4% and 7.5% respectively.
2. Malampuzha Dam
· The largest irrigation dam of Kerala Malampuzha dam opened after 4 years.
· As the water level crossed 114.88 meters, shutters were opened at Palakkad.
· Last time shutters were opened in September, 2014.
3. TRAI approved sale of 5G spectrum
· Telecom Regulatory Authority of India (TRAI) approved auction of 5G services for the first time in the country.
· It will be auctioned throughout the country at about Rs. 492 crore per MHz.
· The total price for the auctioning of 700 MHz has been reduced from Rs. 11,500 crore in 2016 to Rs. 6,538 crore now.
4. Lok Sabha passed commercial courts bill
· Lok Sabha passed Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts (Amendment) Bill, 2018.
· Some courts will be designated as commercial courts for speedy disposal of commercial disputes and will reduce the pecuniary jurisdiction earlier Rs. 1 crore to 3 lakh now.
· The law will improve the ease of doing business in India.
Source: The Hindu, PIB