Chhattisgarh launches Rajiv Gandhi Kisan Nyay scheme

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1.International Day for Biological Diversity: 22 May

The International Day for Biodiversity is observed on May 22 to raise awareness on various issues related to threats that stare biodiversity in the face.The first International Day for Biological Diversity, also known as World Biodiversity day, was created in a UN General Assembly in 1993.

Biodiversity or Biological diversity means the life on Earth constitutes a variety of living organisms.

There are at least 8 million species on this planet including plants, animals, fungi, bactere to name a few.

The biodiversity we have today was formed through billions of years of evolution.

The theme for the year 2020 is “Our solutions are in nature”.

2.Trump orders US flag to be flown at half-staff over next 3 days

The US President Donald Trump ordered that the US flag to be flown at half-staff over the next three days as the death toll from COVID-19 surpasses 95,000.Flags will be lowered on all Federal Buildings and National Monuments to half-staff over the next three days in memory of the Americans lost to the Coronavirus.

The flags will continue to be flown at half-staff on Memorial Day, observed on 25th May every year, in honor of those in the US military who died serving their country.

The stripes on the US flag represent the original 13 Colonies and the stars represent the 50 states of the Union.

3.DGCA issues seven bands of ticket pricing; minimum price Rs 2,000

Aviation regulator DGCA has issued seven bands of ticket pricing with lower and upper fare limits.

The first such band will consist of flights that are less than 40 minutes in duration.A DGCA order said that the lower and the upper fare limits for the first band is 2 thousand rupees and 6 thousand rupees.

For flights with duration of 40 to 60 minutes the lower and upper limits will be, 2 thousand 500 rupees and 7 thousand 500 rupees.

4.FDC aids forest dwellers to sell ‘Timru leaves’ amid lockdown

In Gujarat, when the forest dwellers of Chhota Udepur district were finding it difficult to sell the ‘Timru leaves’ also called Tendu leaves amid the lockdown, Forest Development Corporation came forward for their help.FDC not only ensured the purchase of the Timru leaves from the tribal people, but also helped them earn income amid the lockdown.

Every year, the wholesaler traders from the neighbouring states such as Maharashtra come to Chhota Udepur for purchasing the Timru leaves.

In view of the lockdown, when the traders could not come, FDC along with district administration purchased the minor forest produce.

This initiative by Forest Development Corporation indeed reduce the hardship of Rathva tribe of Chhota Udepur which is dependent on minor forest produce for their livelihood.

5.Chhattisgarh launches Rajiv Gandhi Kisan Nyay scheme

The Chhattisgarh government launched the Rajiv Gandhi Kisan Nyay Yojna, by transferring Rs 1,500 crore into the accounts of more than 18,000 farmers.This was the first installment of a Rs 5,750-crore scheme, meant to benefit farmers sowing 14 types of crops.

Under the Rajiv Gandhi Kisan Nyay Yojana, based on registered area and area under cultivation during Kharif crop season 2019, Rs 10,000 per acre will be deposited in the bank accounts of farmers as agriculture assistance grant for sowing crops such as paddy, maize and sugarcane

The scheme was inaugurated through video conferencing on the death anniversary of former Prime Minister Rajiv Gandhi.

The scheme aims to ensure minimum income availability to farmers growing one rabi and 13 kharif season crops in the state.

6.Tripura gets its first international waterway with River Gomti approved as Indo-Bangla protocol route

Tripura got its first ever international waterway as five new protocol routes were announced between India and its eastern neighbour Bangladesh.Sonamura-Daudkandi route on Tripura’s River Gomti and Rajshahi-Dhulian-Rajshahi routes were added to the list of Indo-Bangladesh Protocol (IBP) routes.

The Protocol on Transit and Trade (PTT) through inland waterways was first signed between the People’s Republic of Bangladesh and the Republic of India in 1972.

At present, there are 10 Indo-Bangla Protocol routes.

7.RBI cuts repo rate by 40 bps to 4 pct

The Reserve Bank of India cut the repo rate by 40 basis points from 4.4 per cent to 4 per cent.It also reduced the reverse repo rate at 3.35 per cent to maintain accommodative stance.

The six-member Monetary Policy Committee voted 5:1 in favour of 40 bps cut in interest rate.

Private consumption has seen the biggest blow due to COVID-19 outbreak, following investment demand has halted big time impacting the government revenues severely due to slowdown in economic activity.

8.Reserve Bank extends Rs 15,000-cr credit line to EXIM Bank

The Reserve Bank of India (RBI) decided to extend a ₹15,000 crore line of credit to the Export-Import Bank of India (EXIM Bank) for 90 days to meet its foreign currency resource requirements.The Export-Import Bank of India provides financial assistance to exporters and importers with a view to promoting the country”s international trade.

In view of the COVID-19 pandemic, however, global trade has contracted sharply and global financial markets have turned highly volatile and risk averse.

9.World Bank names Carmen Reinhart as chief economist and vice president

The World Bank named former Bear Stearns executive Carmen Reinhart as its new vice president and chief economist.Reinhart, now a professor at Harvard University, published a book entitled “This Time is Different: Eight Centuries of Financial Folly,” together with economist Kenneth Rogoff of Harvard University in 2009.

Reinhart’s experience and insights would prove invaluable during the current unprecedented crisis triggered by the coronavirus pandemic and the economic havoc it is wreaking around the globe.

Reinhart has a Ph.D. from Columbia University and currently teaches international economics at the Harvard Kennedy School.

10.NADA provisionally suspends Savita Kumari, Ankit Shishodia for violating anti-doping rules

The National Anti Doping Agency (NADA) has provisionally suspended two powerlifters, Savita Kumari and Ankit Shishodia, for violating anti-doping rules.Athletes were given an opportunity to present themselves before the Anti-Doping Disciplinary Panel (ADDP) and explain their cases on the date and time fixed by the panel for a hearing.

However, due to COVID 19, followed by lockdown in the country no sitting of the panel could take place in April.

As per the Anti-Doping Rules of NADA, an appeal can be filed by the athlete and other parties against the order of the ADDP.

However, due to COVID-19, followed by lockdown in the country no sitting of the panel could take place in April.