| 1. Monetary Policy Committee of RBI slashed the short-term lending rate (repo rate) by 25 basis points to 6%. Monetary Policy Committee (MPC), headed by Urijit Patel, decided to reduce the Policy Repo Rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent. |
| 2. Union Govt has launched e-RaKAM portal for selling Agricultural produce. The Union Government has launched a portal, e-Rashtriya Kisan Agri Mandi (e-RaKAM), to provide a platform to sell agricultural produce. The portal is a joint initiative by state-run-auctioneer MSTC and Central Warehousing Corporation arm CRWC. The platform is a digital initiative that aims to bring together the farmers, PSUs, civil supplies and buyers on a single platform to ease the selling and buying process of agricultural products. |
| 3. Uttar Pradesh state will become Digital by transforming all state-run offices into e-offices. The Uttar Pradesh cabinet chaired by the Chief Minister ‘Yogi Adityanath’ has decided to go Digital by transforming all state-run offices into e-offices. ‘e-office’ would commence from the state secretariat from 1st October and by January next year, all the state government offices would be equipped with the system. |
| 4. Samsung Pay has tied up with State Bank of India to store higher variants of SBI debit cards on its App. Samsung Pay in India, has tied up with State Bank of India to store higher variants of SBI debit cards |
| 5. Sanjaya Baru appointed as Secretary General of FICCI. Sanjaya Baru was on appointed as the Secretary General of the Freedom of Indian Chambers of Commerce and Industry (FICCI) with effect from 1 September 2017. He succeeds A Didar Singh, who served as Secretary General for 5 years. |
| 6. World Bank has allowed India to construct hydroelectric power facilities on tributaries of Jhelum & Chenab rivers. World Bank has allowed India to construct hydroelectric power facilities on tributaries of Jhelum & Chenab rivers with certain restrictions under 1960 Indus Waters Treaty. World Bank’s comments came as officials from India Pakistan concluded secretary-level talks over IWT.The 2 countries disagree over whether the technical design features of the 2 hydroelectric plants contravene the treaty. |
| 7. China has formally opened its first overseas military base in Djibouti. It will be used to resupply navy ships taking part in peacekeeping and humanitarian missions off the coasts of Yemen and Somalia. China’s agreement with Djibouti ensures its military presence in the country up until 2026, with a contingent of up to 10,000 soldiers. Djibouti also hosts troops from US, France & Japan. |
| 8. Union Cabinet apprised of MOU between India, Spain on renewable energy. The Union Cabinet chaired by Prime Minister Narendra Modi was on Wednesday apprised of the Memorandum of Understanding (MoU) between India and Spain on renewable energy. The MoU was signed on 30th May this year at Spain. The MoU will help strengthen bilateral cooperation between the two countries with the exchange of expertise and networking of information. It envisages to establish a Joint Working Committee to review, monitor and discuss matters relation to areas of cooperation. The Cabinet also gave its ex-post facto approval for an MoU signed among India and various BRICs countries for establishment of the BRICS Agriculture Research Platform (BRICS-ARP). |
| 9. BookMyShow has acquired video streaming startup Nfusion, for an undisclosed amount. Online ticket booking company BookMyShow has acquired video streaming startup Nfusion, for an undisclosed amount in an all-cash deal. The deal aims to build on BookMyShow's audio entertainment platform Jukebox by offering free music downloads through credits earned at the time of booking movie tickets. The takeover marks BookMyShow's fourth acquisition in 2017. |
| 10. Bengaluru's Puttenahalli lake will be converted into a bird reserve . The work on converting Bengaluru's Puttenahalli lake into a bird reserve began on Wednesday with the construction of a diversion channel for sewage water from surrounding areas. The ₹12 crore project is expected to be completed by February 2018. The lake is reportedly home to several species of endangered and migratory birds from the Northern Himalayas and Siberia. |
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