Top 5 Current Affairs: 4 December 2020

MSP for Crops: What is 1.5-times MSP formula?

Farmers are protesting against the farm bills passed by the central government. Farmers fear that the bills with do away with the Minimum Support Price (MSP). The MSP is the price fixed by government for crops produced by farmers, in addition to the cost of production. Know here how is MSP calculated and its 1.5 times formula.

RBI Monetary Policy 2020-21: RBI keeps Repo Rate unchanged at 4%

The Reserve Bank of India released its bi-monthly monetary policy 2020-21 on December 4, 2020. The central bank has kept the Repo Rate unchanged at 4%. Consequently, the Reverse Repo Rate stands unchanged at 3.35% and the Bank & Marginal Standing Facility (MSF) rates remain unchanged at 4.25%.

New Zealand declares climate emergency

New Zealand on December 2, 2020 declared the climate emergency. The country pledged to become carbon neutral by the year 2025. The climate emergency declaration came following the findings of an Intergovernmental panel that stated that in order to prevent over a 1.5 degrees Celsius rise in global warming, the emission should be cut by 45% by 2023 from 2010 levels and reach zero by the year 2050.

RBI directs HDFC Bank to stop selling its credit cards

The Reserve Bank of India (RBI) has directed private sector lender HDFC bank to stop selling its credit cards and halt its digital launches on a temporary basis. The RBI directed the bank to stop the launch of digital activities under Digital 2.0 initiative. The move came after customers reported of facing outages in HDFC’s internet banking and mobile banking over the last 2 years.

West Bengal extends ‘Swasthya Sathi’ scheme to all

The West Bengal Government has decided to extend the ‘Swasthya Sathi’ health scheme to all. The West Bengal CM Mamata Banerjee on November 26, 2020 announced to expand health scheme to cover the entire state's population.