6th April 2016

A.RBI cuts repo rate by 25 basis points to 6.5%
1.The Reserve Bank of India (RBI) has cut down repo rate by 25 basis points to 6.5 per cent from 6.75 per cent, with immediate effect.

2. It was announced in the first bi-monthly monetary policy review of the RBI for the 2016-17 fiscal. 

3.First bi-monthly monetary policy for the 2016-17 says Repo rate: RBI has reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.75 per cent to 6.5 per cent. 

4.It is the rate at which RBI lends to the financial system. Cash reserve ratio (CRR): RBI has unchanged CRR and kept it at 4.0 per cent of net demand and time liabilities (NDTL). 

5.Reverse repo rate: RBI has adjusted (hiked) reverse repo rate under the LAF to 6 per cent. 

6.It is the rate at which banks can keep excess funds with the RBI. The RBI also introduced number of measures to smoothen liquidity supply so that banks can lend to the productive sectors.

B.Vishwanathan Anand to be honoured with Hridaynath Mangeshkar Award

1.Five-time world chess champion Vishwanathan Anand (46) will be honoured with the Hridaynath Mangeshkar Award. 

2.Maharashtra State Governor C Vidyasagar Rao will bestow award upon him at an event to be held in Mumbai on April 12, 2016. About Vishwanathan Anand Born on December 11, 1969. 

3.He is an Indian chess grandmaster and a former world champion. He became India’s first grandmaster in 1988. 

4.He held the FIDE World Chess Championship from 2000 to 2002 and became the undisputed world champion in 2007. 

About Hridaynath Mangeshkar Award 

1.Established in 2011 by Mumbai- based socio-cultural organisation Hridayesh Art in the honour of music composer and singer Hridaynath Mangeskar. 

2.The award felicitates and recognises successful individuals across the country from various walks of life. 

3.It carries monetary award of Rs 2 lakh and a memento. Hridaynath is the son of renowned musician Deenanath Mangeshkar and is younger brother of Indian music legends Lata Mangeshkar and Asha Bhosle. 

4.The previous recipients of the award include eminent personalities like Lata Mangeshkar, Asha Bhosle, Amitabh Bachchan, Hariprasad Chaurasia and A R Rahman

C.Scientists discover new planet with triple-star system named KELT-4Ab

1.Scientists have discovered a rare triple-star system named KELT-4Ab with a gas giant planet similar in size to Jupiter. 

2.It was discovered by the researchers at the Harvard-Smithsonian Centre for Astrophysics in the United States. 

3.The research was published in The Astronomical Journal. Key facts Known planets with three stars appearing in their sky are rare and the new discovery is just the fourth and the closest one yet. 

4.In KELT-4Ab triple-star system, the main star named KELT-A is brighter than the other stars that serve as suns for their planets. 

5.It has a gas giant planet, similar in size to Jupiter takes approximately three days to make its way around its sun (star) KELT-A. 

6.The other two stars are named KELT-B and C. They are much farther away and orbit one another over the course of approximately 30 years. 

7.It takes the pair of stars approximately four thousand years to orbit KELT-A. They appear much dimmer due to their great distance.

D.PM Narendra Modi launches Stand up India scheme for SC/ST, women

1.Prime Minister Narendra Modi has launched the Stand-up India scheme aimed at providing credit to Scheduled Caste (SC), Scheduled Tribe (ST), and women borrowers in the non-farm sector. 

2.The scheme is intended to promote entrepreneurship among SC/ST and women and further give a push to government’s financial inclusion programme. 

3.The broad features of the scheme Composite loan between 10 lakh rupees and up to 1 crore rupees will be provided to SC/ST and women and also inclusive of working capital component for setting up any new enterprise. Debit Card (RuPay) for withdrawal of working capital. 

4.Credit history of borrower to be developed of these under-banked sections of society. 

5.Refinance window through Small Industries Development Bank of India (SIDBI) with an initial amount of 10,000 crore rupees. 

6.Creation of a corpus of 5,000 crore rupees for credit guarantee through National Credit Guarantee Trustee Company (NCGTC). 

7.Handholding support for borrowers with comprehensive support for pre loan training needs, facilitating loan, factoring, marketing etc.