US to withdraw from Open Skies treaty
US President Donald Trump recently announced about his plans to withdraw from the Open Skies Treaty signed with Russia after around 18 years. The treaty was signed in 2002 to enhance military transparency. President Trump claimed that Russia has not stuck to its role as per the deal. The treaty has 35 signatories.
KKR invests in Reliance Jio for 2.32% stake
KKR invests Rs 11367 crore in Reliance Jio Platforms to buy a stake of 2.32 percent in a fully diluted basis. The deal is subject to regulatory and customary approvals. This is fifth global investment deal in last one month. Earlier, Facebook, Silver Lake, Vista Equity and General Atlantic invested in the Jio Platforms. Know all about KKR-Jio deal here.
Cyclone Amphan: PM Modi announces Rs 1000 crore relief fund for West Bengal
PM Narendra Modi & Chief Minister Mamata Banerjee jointly conducted the survey of areas affected by Cyclone Amphan on May 22, 2020. After conducting the aerial survey of the areas, PM Modi allocated Rs 1000 crore as immediate assistance to West Bengal to recover from its loses. The devastating Cyclone Amphan made landfall in West Bengal on May 20, 2020 and damaged several parts of the states including capital Kolkata.
RBI reduces Policy Repo Rate to 4%, Reverse repo rate to 3.35%
The Reserve Bank of India on May 22, 2020 addressed the media and announced reduction in the Policy Repo Rate from 4.4%to 4%. The reverse repo rate was also reduced to 3.35 percent. The decision was taken by RBI's Monetary Policy Committee to maintain the accommodative stance. The GDP is expected to remain negative for 2020-21.
India becomes world’s second largest manufacturer of PPE
The Textiles Ministry recently announced that India has become the second largest manufacturer of Personal Protective Equipment (PPE) body suits in just two months. The number one spot is ruled by China. The PPE body coveralls or suits are essential for protection against the COVID-19 especially for healthcare personnel.
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