1.India’s foreign-exchange reserves plunged the most in about eight years as the central bank stepped in to defend the rupee.The reserves fell by $5.35 billion to $481.9 billion in the week,That’s the most since November 2011 when the hoard dropped $5.7 bn.RBI Governor: Shaktikanta Das.
2.SEBI lowered the limit of positions that can be taken in the futures & options market, increased margin requirements and capped derivatives exposure. SEBI’s measures are largely to curb extreme volatility in individual stocks and index derivatives segment.Securities and Exchange Board of India(SEBI),Headquarters:Mumbai.
3.The Reserve Bank has opened an emergency line of credit of around ₹60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors.The move comes after 16 years when a similar credit line was opened for Global Trust Bank in 2004.Additional liquidity, under Section 17 (4) of the RBI Act.
4.IndusInd Bank CEO Romesh Sobti will move into a full-time advisory role at the bank after his retirement on March 24.Sobti took over as IndusInd Bank CEO at the end of 2007 after serving as the head of ABN Amro in India.Sumant Kathpalia newly appointed CEO of IndusInd Bank.
5.Cabinet approved 3 schemes to enable large scale electronics manufacturing & attract fresh investments worth at least ₹50,000 cr. in the sector. Funds allocated are to be used over 5 yrs. Scheme has the potential of creating 8,00,00 direct & indirect jobs.Electronics & information technology min.- Ravi Shankar Prasad.
6.Reserve bank of India extended the regulatory restrictions on Punjab and Maharashtra Cooperative Bank (PMC) Bank by another three months.The validity of directive dated 23 September, 2019, stands modified from 23 March, 2020 to 22 June, 2020.J B Bhoria, administrator.of PMC Bank.
7.Government launched an official chatbot on popular instant messaging application WhatsApp. The person in need is only required to save the number - 9013151515 in their contact list and send a message to the MyGov Corona Helpdesk.
8.Govt. announced a production-linked incentive scheme to promote domestic manufacturing of critical key starting materials (KSMs), drug intermediates and active pharmaceutical ingredients (APIs).PLI scheme would have a financial implication of ₹6,940 crore.China supplies, 2/3rd of India’s pharmaceutical raw materials.
9.Administrative Council headed by Lt Governor accorded approval to the adoption of J-K IT/ITeS policy.The policy provides for creation and up-gradation of IT infrastructure to meet existing & future needs of the Union Territory in e-governance among others.Jammu and Kashmir, Lt Governor-G C Murmu.
10.Centre approved the land use change for execution of its Central Vista redevelopment project in Lutyens’ Delhi.The redevelopment project of Central Vista-the nation's power corridor-envisages a triangular Parliament building next to the existing one.Union Housing and Urban Affairs Ministry issued notification.
11.World Water Day, on 22 March is about focusing attention on the importance of water.This year’s theme, ‘Water and Climate Change’, explores how water & climate change are inextricably linked.Water is our most precious resource-we must use more responsibly.For first time World water day held on 22 March 1993.
12.UN Secretary-General Antonio Guterres warned that without further efforts, between 3.5 & 4.4-bn people in the world will live with limited access to water, with more than 1-bn of them in major cities. World’s water resources are under exceptional threat.2.2 billion people lack safe drinking water today.
13.Reserve Bank of India has put in place a contingency plan & shared its BCP to ensure that key Information Technology (IT) services for the delivery of digital banking, treasury services and cheque clearance are not disrupted by the coronavirus outbreak.BCP- Business Continuity Plan.
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