1 August 2018 Current Affairs

RBI | Repo Rate | Newest Shape | Scutoid | Bandhan Bank | Market cap | Seema Nanda |

Posted on Aug 01, 2018 12:27 IST in Current Affairs.

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1) The six-member monetary policy committee (MPC) of the RBI on 1 August 2018 decided to increase the repo rate by 25 basis points. What is the new Repo Rate? – 6.5%

Explanation: The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) decided to increase the repo rate by 25 basis points to 6.5% due to inflation concerns. This was announced in the Bi-Monthly Monetary Policy review meeting held on 1 August 2018. Five members of the MPC voted for the rate hike.

- Repo Rate is the rate at which the RBI lends money to commercial banks in the event of any shortfall of funds. Reverse repo, the rate at which the RBI borrows money from commercial banks within the country, is adjusted to 6.25%.

- The RBI has projected the inflation at 4.6 per cent in Q2, 4.8% in H2 of 2018-19 and 5.0% in Q1 of 2019-20 “with risks evenly balanced”.

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2) What is the name given to the brand new shape discovered by the scientists that is being heralded as the newest addition to geometry? – “Scutoid”

Explanation: “Scutoid” is the name given to the newest shape discovered by the scientists in human cells. This discovery was made while studying nature’s way of moulding tissue to form the skin, cavity linings and the building blocks of organs.

- The shape has five sides on one end and six on the other and a triangular surface on one of its longer edges. Scientists have referred to it as a twisted prism kind of shape that allows the tissue to mould around organs.

- The research that is the result of a US-EU collaboration first discovered the existence of the new shape through computations modelling, which was later confirmed through experiments investigating its presence in different kinds of tissues and animals.

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3) On 1 August 2018, which bank became the seventh most valued Indian bank by overtaking Yes Bank? – Bandhan Bank

Explanation: Kolkata-based Bandhan Bank Ltd on 1 August 2018 became the seventh most valued listed bank in India, by overtaking Yes Bank.

- Data from BSE showed that Bandhan Bank has a market capitalization of Rs. 84,325.35 crore, after its shares moved 1% higher on BSE to record high of Rs. 706.95. Yes Bank’s market cap stood at Rs. 84,262.14 crore.

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4) What is the name of the Indian origin woman leader who took over as the CEO of Democratic Party of the United States and thus became the first Indian - American ever to be the Chief Executive Officer (CEO) of any major US party? - Seema Nanda

Explanation: Indian-American Seema Nanda, who took over as the CEO of the opposition Democratic National Committee, became the first Indian- American ever to be the Chief Executive Officer (CEO) of either the Democratic National Committee or the Republican National Committee.

- In this capacity, she is responsible for the day-to-day operations of the powerful Democratic National Committee (DNC).

- She would play a key role in party's winning strategy in the mid-term November elections, for which the DNC has set a target of winning back the House of Representatives from the Republicans.

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