Stage set for RBI policy panel to go for cut in repo rate

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CURRENT GK

 

1.Putin orders 755 US diplomatic staff to leave :-

Russian President Vladimir Putin said Sunday the United States would have to cut its embassy and consulate staff in Russia by 755, heightening tensions between Washington and Moscow three days after the U.S. Congress approved sanctions against Russia.

In response, the U.S. State Department deemed it “a regrettable and uncalled for act.”

 

2.Mehbooba should resign, says Congress :-

The Congress on Sunday demanded Jammu and Kashmir Chief Minister Mehbooba Mufti’s resignation over her flag remarks, saying nobody has the right to insult the tricolour.

The party said she had hurt the sentiments of the people, and asked the BJP to explain what kind of freedom was being advocated by its coalition partner, PDP, and the Chief Minister.

 

3.Govt. to share missing Bofors files :-

The Public Accounts Committee (PAC) has asked the Defence Ministry to trace and share with it all missing files related to the Bofors scandal.

The six-member sub-committee on defence, headed by BJD MP Bhartruhari Mahtab, is looking into the long-pending non-compliance of certain aspects of the Comptroller and Auditor General (CAG) report on the Bofors guns deal.

 

4.U.S. prods India on Pyongyang :-

 

India is facing increased pressure to reduce North Korea’s diplomatic presence in the country as Pyongyang flexes its military muscles.

During talks with Indian officials last week, a U.S. State Department delegation took up the presence of a large number of North Korean diplomats in India, and urged New Delhi to “shrink” North Korea’s diplomatic footprint in South Asia.

 

5.Vettel overcomes steering problem to win Hungarian GP :-

 

Ferrari’s Sebastian Vettel overcame steering difficulties to win a tense Hungarian Grand Prix on Sunday and extend his championship lead over rival Lewis Hamilton to 14 points heading into the summer break.

The four-time Formula One champion made a decent start from pole position, crucially holding off teammate Kimi Raikkonen on the long straight into Turn 1. On a Hungaroring track where overtaking is notoriously hard, there were limited chances to catch him after that.

 

6.Former South African cricketer Jonty Rhodes to mentor TNPL team :-

 

Legendary South African cricketer Jonty Rhodes will be joining Tamil Nadu Premier League (TNPL) team Ruby Kanchi Warriors as mentor.

This was revealed by the team on its Twitter feed.

“It’s a Bird…It’s a Plane…It’s @JontyRhodes8! ???? Welcoming our mentor & brand ambassador for @TNPremierLeague 2.0! #DoubleTheGethu,” the franchise said.

 

7.Stage set for RBI policy panel to go for cut in repo rate :-

The 10-year benchmark government securities (G-Sec) yield has fallen by around 25 bps since the beginning of FY 2018 to 6.42 per cent, which has partly raised the likelihood of a rate cut by the MPC next week.

THE Sustained  fall in retail inflation — especially the 1.2 per cent in food prices last month — may pave the way for a rate cut by at least 25 basis points when the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) meets on August 2.

However, the MPC decision is unlikely to be unanimous and the tone of the policy document may not signal that further cuts would be forthcoming, analysts and bankers said.

 

8.Gurgaon municipal body puts up ‘parking-free’ banner on malls :-

 

In a bid to tackle the problem of illegal parking and alleged paid parking service by many city malls, the Municipal Corporation of Gurgaon has come up with an initiative of free parking and installed signboards at malls and other buildings on the Mehrauli- Gurgaon (MG) Road.

The initiative was taken after complaints that some mall owners were allegedly imposing parking charge despite stating otherwise.

“We have started placing notice boards on the entry of malls which reads ‘The basement parking of this mall is free as per declaration of mall-owner’,” MCG Commissioner V Umashankar said.

 

9.Arab states to allow Qatari planes use emergency air corridors :-

Saudi Arabia, the United Arab Emirates, Egypt and Bahrain, which have tried to isolate Qatar, will allow Qatari planes to use air corridors in emergencies, the Saudi state news agency SPA said on Sunday.

The four countries severed ties with Qatar on June 5, closed borders – in the sea, land and sky – and imposed economic sanctions, accusing it of supporting terrorism, which Doha denies.

“Nine corridors have been identified including one in international air space over the Mediterranean sea that will be monitored by the Egyptian authorities,” SPA reported, citing a statement from the Saudi aviation authority (GACA).