The Reserve Bank of India (RBI) has exempted banks from
maintaining cash reserve ratio (CRR) for loans to retail and micro, small
and medium enterprises for five years, if these loans are extended between
January 31 and July 31, 2020.
“An amount equivalent to the incremental credit outstanding from
the fortnight beginning January 31, 2020 and up to the fortnight ending July 31,
2020 will be eligible for deduction from NDTL (net demand and time liabilities)
for the purpose of computing the CRR for a period of five years from the date of
origination of the loan or the tenure of the loan, whichever is earlier,” the
During the monetary policy review last week, the central bank
said lenders will not have to maintain CRR for loans extended between the above
mentioned time period.
This exemption was available for incremental credit disbursed as
retail loans to automobiles, residential housing, and loans to micro, small and
medium enterprises (MSMEs).
Public procurement worth Rs 40,000 crore has taken place
through the government's online marketplace GeM, Expenditure Secretary T V
Somanathan said on Monday.
Stressing that the focus of public procurement system is on
economy, rigour, fairness and transparency, he said the efficiency of
procurement makes a big difference to the fiscal discipline of government.
The Government e-Marketplace (GeM), an online platform for
public procurement, was launched by the Commerce Ministry in August 2016 with
the objective of creating an open and transparent procurement platform for
government departments. Currently, 3.24 lakh vendors are registered on this
"We have the GeM, central procurement portal, which currently
has electronic bids of 1,00,000 tenders - including state government tenders.
And we have (Rs) 18-19 lakh crore per annum, of tendering on central public
procurement portal (CPPP)," Somanathan said while addressing the Global
Procurement Summit 2020.
Israel's National Security Adviser Meir Ben Shabbat met
Prime Minister NarendraModi yesterday and discussed the deepening
relationship between the two countries.
Besides calling on Mr Modi, he also met Defence Minister Rajnath
Singh. India and Israel share close defence ties.
Last week, addressing at an event at the DefExpo in Lucknow,
Israeli Ambassador Dr Ron Malka had said that India-Israel partnership is
steadily growing on the foundation of mutual respect, trust, values, interest,
tradition and culture.
Seeking more joint ventures, he had hoped for transforming the
cooperation from the buyer-seller relationship to a strategic partnership.
Meanwhile Israeli forces attacked Hamas positions from the air
early today after militants in the Palestinian enclave last night fired a
projectile at the Jewish state.
Europe and NASA's Solar Orbiter rocketed into space Sunday
night on an unprecedented mission to capture the first pictures of the sun's
The $1.5 billion spacecraft will join NASA's Parker Solar Probe,
launched 1 1/2 years ago, in coming perilously close to the sun in order to
unveil its secrets.
While Solar Orbiter won't venture close enough to penetrate the
sun's corona, or crown-like outer atmosphere, like Parker, it will maneuver into
a unique out-of-plane orbit that will take it over both poles, never
photographed before. Together with powerful ground observatories, the
sun-staring space duo will be like an orchestra, according to Gunther Hasinger,
the European Space Agency's science director.
Solar Orbiter -a boxy 4,000-pound (1,800-kilogram) spacecraft
with spindly instrument booms and antennas will swing past Venus in December and
again next year, and then past Earth, using the planets' gravity to alter its
path. Full science operations will begin in late 2021, with the first close
solar encounter in 2022 and more every six months.
At its closest approach, Solar Orbiter will come within 26
million miles (42 million kilometers) of the sun, well within the orbit of