HAPPY NEW YEAR

CURRENT AFFAIRS & GK FOR UPSC,SSC,PSC,IBPS,LIC,RAILWAY & ALL OTHER EXAM: CURRENT UPDATES : SAHITYA AKADEMI AWARDS 2017

CURRENT AFFAIRS & GK FOR UPSC,SSC,PSC,IBPS,LIC,RAILWAY & ALL OTHER EXAM: CURRENT UPDATES : SAHITYA AKADEMI AWARDS 2017: Sahitya Akademi, India's national academy of letters, on 21 December, Friday announced its annual awards, recognising the literary wor...

CURRENT UPDATES : SAHITYA AKADEMI AWARDS 2017

Sahitya Akademi, India's national academy of letters, on 21 December, Friday announced its annual awards, recognising the literary works of 24 writers writing in 24 Indian languages. Seven books of novels, five of poetry, five of short stories, five of literary criticism, and one of play and essays have won the Sahitya Akademi Awards 2017. The awards will be conferred upon the winners during a ceremony on 12 February 2018. The award, given for books published between 1 January 2011 and 31 December 2015, includes a casket containing an engraved copper-plaque, a shawl, and a cheque of Rs 1 lakh.

 The Sahitya Akademi Translation Prize 2017 was also announced with names of 24 translators. The prize carries a cash award of Rs 50, 000.

CURRENT UPDATE : FIFTH BI-MONTHLY MONETARY POLICY STATEMENT, 2017-18 BY RBI

FIFTH BI-MONTHLY MONETARY POLICY STATEMENT, 2017-18 RESOLUTION OF THE MONETARY POLICY COMMITTEE (MPC) RESERVE BANK OF INDIA

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting on 06-12-2017, the Monetary Policy Committee (MPC) decided to:

·         Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent.

·         Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent.

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth.

CURRENT RATES
POLICY RATES	BANK RATE	6.25 %
	REPO RATE	6  %
	REVERSE REPO RATE	5.75 %
	MARGINAL STANDING FACILITY RATE	6.25 %
RESERVE RATIO	CRR	4 %
	SLR	19.5 %
LENDING RATE	BASE RATE	8.95 – 9.45 %

The next meeting of the MPC is scheduled on February 6 and 7, 2018.