26th May Daily News Digest

1. RBI cuts repo rate by 40 bps; extends loan moratorium till August 

  • As the lockdown extended, the RBI has also extended moratorium on term loans till August 31 
  • RBI’s monetary policy committee has cut repo rates by 40 basis points to 4% 
  • Loan moratorium extended by another 3 months till August 31. 
  • RBI Governor may again announce new measures to ease liquidity pressure in the banking system.

2. PM Modi allocates 1000 cr. for Amphan-hit West Bengal. 

  • Prime Minister Narendra Modi announced a rehabilitation package of 1,000 crore for the cyclone-affected West Bengal
  • An advance assistance of 1,000 crore will be arranged by the government of India 
  • Mr. Modi said that the State government does not face any major hardship during these difficult times. 

3. Online courses help some cope with lockdown in J&K 

  • Students in J&K opting for add-on courses online.
  • Muhammad Mutahir, who works with food delivery start-up Zomato, is a volunteer sharing his knowledge about entrepreneurial skills
  • The response of people has been overwhelming, said J&KSDM
  • The goal is to offer a range of courses is to upscale skills and utilize the time offered by the lockdown.

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