TNPSC Current Affairs April 2017
1.Tamil Nadu lead in implementing urban poverty alleviation programmes
Union Government said that Tamil Nadu lead in implementing urban poverty alleviation programmes followed by Madhya Pradesh, Uttar Pradesh, Andhra Pradesh and Chattisgarh. These states are ahead of other states in addressing urban poverty during 2014 to 2017.
As per the official information Minister of State for Housing & Urban Poverty Alleviation, Tamil Nadu is in the forefront in assisting urban poor with subsidized loans for self-employment through setting up of individual and group micro enterprises and formation of Self-Help Groups under Deen Dayal Antyodaya Yojana- National Urban Livelihoods Mission (DAY-NULM)
Top 5 states are
- Tamil Nadu
- Madhya Pradesh
- Uttar Pradesh
- Andhra Pradesh
Deen Dayal Antyodaya Yojana- National Urban Livelihoods Mission (DAY-NULM) was launched in 2016 with the aim to reduce poverty and vulnerability of the urban poor households by enabling them to access gainful self-employment and skilled wage employment opportunities for improvement in their livelihoods on a sustainable basis by giving skill training, subsidized bank loans and forming self -help groups.
2.Prime Minister Lays Foundation Stone of Multimodal Terminal in Jharkhand.
Prime Minister Narendra Modi has laid the foundation stone of Multimodal Terminal at Sahibganj district, Jharkhand. It is an important component of National Waterway-1 from Varanasi to Haldia about 1390 km in River Ganga under Jal Marg Vikas Project (JMVP)
Jharkhand Chief Minister Raghubar Das and Union Minister of Road Transport, Highways and Shipping Nitin Gadkari also present in inauguration .
- The project will reduce the cost and time of cargo movement between Sahibganj and Manihari
- It will have cargo handling capacity of 2.24 Million Tons Per Annum (MTPA) on completion
- Jharkhand is richly endowed with mineral resources, this terminal will play an important role in transporting domestic coal from local mines in Rajmahal area to other various thermal power plants.
- It will have facilities like berthing space for two vessels, stockyard, conveyor belt system with hoppers, barge loaders, shore protection works, roads, ramps, parking area, and terminal buildings
3. RBI keeps repo rate unchanged and raises reverse repo rate
During RBI’s First Bimonthly policy review, Reserve Bank of India keeps repo rate unchanged at 6.25 % and raises the reverse repo rate by 25 bps from 5.75% to 6%.
This move will help in narrow the liquidity adjustment facility (LAF). LAF is a tool which allows banks to borrow money through repurchase agreements. LAF which helps banks adjusting the day to day mismatches in liquidity
The excess Liquidity arose due to Government’s demonetization policy.
What is repo Rate?
Repo rate (re purchase rate) is the rate which Reserve bank of India lends money to other banks in the time of shortfall of funds. In simple words, when commercial banks are in money crunch, they will borrow money from RBI for interest, the rate at which RBI lends money is called Repo Rate.
What is Reverse repo Rate?
Reverse Repo is the rate given by Reserve bank of India to the commercial bank, when the commercial banks have excess of money and choose to deposit money in RBI
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