Current Affairs: 8 December 2016

RBI keeps key rates unchanged in fifth bi-monthly monetary policy review

  • Reserve Bank of India in its fifth bi-monthly monetary policy review kept the short-term lending rate unchanged. It was a surprise for markets.
  • RBI has also lowered its forecast for India’s gross domestic product (GDP) growth to 7.1% for this fiscal and said demonetisation would lead to a short-term disruption in economic activity.

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Donald Trump is Time magazine's Person of the Year

  • US President-elect Donald Trump has been named Time magazine's Person of the Year for 2016.
  • The annual cover on which the magazine recognises the person who “for better or for worse … has done the most to influence the events of the year” 

Union Cabinet approves Pune Metro Rail Project

  • The Union Cabinet today approved the development of phase-I of Pune Metro Rail Project which will cover a length of 31.25 km at the total completion cost of Rs. 11,420 crore and comprising two corridors Corridor-1 (Pimpri Chinchwad Municipal Corporation to Swargate) and Corriodor-2 (Vanaz to Ramwadi)

Venezuela to print 20,000-bolivar note

  • Venezuela will launch a new 20,000-bolivar banknote to help people struggling with large bundles of currency notes during the country's economic crisis. 
  • The biggest denomination banknote currently in circulation is 100 bolivars.

Remote sensing satellite Resourcesat-2A successfully launched

  • The Indian Space Research Organisation (ISRO) has successfully launched remote sensing satellite Resourcesat-2A into its dedicated orbit. 
  • It was launched onboard of Polar Satellite Launch Vehicle (PSLV)-C36 from first launch pad at Satish Dhawan Space Centre in Sriharikota. It was PSLV’s 38th flight and XL version of the rocket was used. It was the 37th consecutive successful flight of the rocket.

Why blind can't identify notes of recent years: HC asks RBI

  • The Bombay High Court has sought a reply from the RBI within six weeks over the alleged difficulty faced by blind persons in identifying currency notes and coins of recent years. While hearing a petition filed by National Association for the Blind, the HC also allowed the petitioner to file a rejoinder within two weeks of RBI filing its reply.
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