Rbi

Rbi

RBI keeps repo rate, reverse repo rate unchanged

Reserve Bank of India (RBI) on August 06 announced that repo rate and reverse repo rate will remain unchanged. RBI Governor Shaktikanta Das said, "Repo rate remains unchanged at 4% and Reverse repo rate also remains unchanged at 3.35%. Accommodative stance of the monetary policy will continue as long as necessary to revive growth and mitigate the impact of COVID-19 pandemic, while ensuring that inflation remains within target going forward." He further said, "Monetary Policy Committee (MPC) noted that in India too, economic activity had started to recover, but surges of fresh infections have forced fresh lockdowns, hence several high-frequency indicators have levelled off."

For year 2020-21, GDP growth is estimated to be negative: RBI Governor

Reserve Bank of India (RBI) Governor Shaktikanta Das briefed mediapersons on Aug 06. He said, "RBI is perhaps the only central bank in the world which has set up a special quarantine facility for continuity of critical operations." He further said, "Taking into consideration all factors, the GDP growth in the first half of the year is estimated to remain in the contraction zone. For the year 2020-21 as a whole, real GDP growth is also estimated to be negative."

RBI announces regulatory, developmental measures for micro-economic conditions in wake of COVID-19

While media brief, RBI Governor Shaktikanta Das said, "With COVID-19 infections rising under fragile micro-economic and financial conditions, we propose to take regulatory and developmental measures - enhance liquidity support for financial markets, ease financial stress caused by COVID-19 while strengthening credit discipline improve the flow of credit, to deepen digital payment systems and facilitate innovations by leveraging technology."

PM Modi, Gujarat CM announce ex-gratia for Ahmedabad hospital fire victims

A massive fire broke out at a COVID care hospital in Gujarat's Ahmedabad on August 06. Around eight people lost their lives, including five men and three women in the fire incident at Shrey Hospital. One paramedic also received burn injuries. Reportedly, the fire occurred due to a short circuit in ICU of the fourth floor of hospital. An inquiry into the matter is underway. Prime Minister Narendra Modi announced ex-gratia of Rs 2 Lakhs each from Prime Minister's National Relief Fund (PMNRF) to the kin of the deceased. Rs 50,000 to be given to those injured due to the fire. Gujarat Chief Minister Vijay Rupani has announced an ex gratia amount of Rs 4 lakhs each to the families of the eight victims who died in the fire at Shrey Hospital in Ahmedabad. The CMO added that Rs 50,000 would be given to those injured in the incident. Earlier today as per Gujarat Chief Minister's Office, Gujarat Chief Minister has ordered a probe in the incident. "CM Vijay Rupani has ordered a probe in the incident of fire at Shrey Hospital in Ahmedabad. Sangeeta Singh, Additional Chief Secretary (Home Department) will be leading the probe. The CM has ordered for a report within 3 days."

Watch: Akshay Kumar jets off to UK for shooting upcoming film Bell Bottom

Actor Akshay Kumar is set to start work on his upcoming film Bell Bottom. Akshay jets off to the UK for shooting of upcoming Bell Bottom. A chartered aircraft was hired for Akshay Kumar, the film cast and crew. Akshay is being accompanied by his family. The actor was seen inside the aircraft wearing a mask amid Covid scare. The shooting for his film Bell Bottom is set to take place in United Kingdom. The actor was seen with Huma Qureshi and Lara Dutta at the airport earlier. The chartered aircraft was booked keeping the Covid pandemic in mind. Akshay is among the first batch of actors to have resumed work post lockdown. Bell Bottom is a period thriller set in the 1980s & is based on a real-life story. During lockdown, Akshay shot for a Covid awareness ad with filmmaker R Balki.