Top 5 Current Affairs: 1 April 2020
The Reserve Bank of India on April 1, 2020 announced a few financial measures to deal with the impact of COVID-19 pandemic on the Indian economy.
The Reserve Bank of India on April 1, 2020 announced a few financial measures to deal with the impact of COVID-19 pandemic on the Indian economy. The measures include extending the realisation period of export proceeds, implementing the countercyclical capital buffer framework and reviewing way and means limits of all states and UTs.
The mega merger of 10 PSU banks into 4 comes into effect from April 1, 2020. As per the merger, the Oriental Bank of Commerce and the United Bank of India have now be merged with the Punjab National Bank with the latter being the Head Bank. In another merger, Corporation Bank and Andhra Bank are merged into Union Bank of India. The branches of the merged banks will work as the branches of Head or Anchor bank.
UN Chief Antonia Guterres recently stated that the Coronavirus outbreak is the worst crisis after the World War II. The COVID-19 pandemic has threatened public health globally while impacting the global economy and bringing in the recession. The pandemic would further lead to global unrest, enhanced instability, and enhanced conflict.
The principal scientific advisor of the Central Government recently issued a manual on how to prepare homemade masks. As per the manual, the homemade masks are 70 percent successful in containing the spread of deadly COVID-19. The masks can be made at home using old t-shirts, vests and handkerchiefs.
The Central Government recently slashed the interest rates on small saving schemes such as PPF for the April-June quarter of 2020-2021. The Small Saving Schemes include Public Provident Fund (PPF), Kisan Vikas Patra, Senior Citizen Saving schemes (SCSS) and Sukanya Samriddhi Yojana.