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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








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