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6th April, 2016


Economics

East Coast Railway becomes largest freight


loading railway zone
The East Coast Railway (ECoR) has emerged as the largest
freight loading railway zone of Indian Railways in 2015-16.
ECoR loaded 173.49 million tonnes of freight compared to
161.91 during the last year, registering a 7.1 per cent growth.
On the earnings side, ECoR earned about Rs 15,978.28 crore
which is 14.13 per cent more than the previous financial year.
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It registered an increase of Rs 1961.27 crore in earning.

6th April, 2016


India and the world

India and Saudi Arabia sign 5 agreements

India and Saudi Arabia on 3rd April 2016 signed five


agreements, including a key pact on terror financing and
money laundering during PM Narendra Modi's two-day visit to
Saudi Arabia in Riyadh.
The visit to Saudi Arabia was part of PM Modis three-nation
visit to Belgium,United States and Saudi Arabia for Nuclear
Security Summit.
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6th April, 2016


Economics

DCB Bank launches Aadhaar-based ATM


Domestic bank, small-sized lender DCB Bank has launched
Indias first of its kind Aadhaar-based Automatic Teller
Machine (ATM) usage facility wherein a customer can now use
his/her biometric details instead of using a PIN number to
make cash transactions.
The first of the Aadhaar-based ATMs has been installed at the
Bank's corporate office in the megapolis' Lower Parel area,
Mumbai.
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Under this facility, user can key-in the 12-digit Aadhaar


number or swipe the card at ATM, but at the stage of
confirming the identity, it requires biometric details rather than
the PIN.

6th April, 2016


Sports

Waqar Younis resigns as Pakistan chief coach


Pakistan's head coach Waqar Younis (44) has resigned from
his post following the humiliating exit of his team from the
World Twenty20 in India.
It won just one match against Bangladesh and lost to
Australia, India and New Zealand.The 44-year old took on the
job for the second time in 2014, having previously held the post
in 2010-11.
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6th April, 2016


Regional

Bihar imposes complete ban on liquor


The Bihar government has imposed a complete ban on all types of
liquor in the state including Indian Made Foreign Liquor (IMFL).
The state Cabinet, chaired by Chief Minister Nitish Kumar at its
meeting in Patna approved a proposal by the excise and prohibition
department to impose a complete ban on the sale and consumption of
all types of liquor across the state, including on IMFL brands.
According to the estimates, Bihar will lose around Rs 4,000 crores in
revenue due to this total ban.

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The production, sale and consumption of all types of liquor have been
banned in the state which means that henceforth person found
indulging in manufacturing trade, transportation, sale and
consumption of liquor across the state will be punished under the
stringent provisions of the Bihar Excise (Amendment) Act, 2016.

6th April, 2016


Economics

RBI cuts repo rate by 25 basis points to 6.5%


The Reserve Bank of India has cut down key interest rates by 25 basis
points in its first bi-monthly monetary policy review for the 2016-17
fiscal. With this, Home, auto and other loans are set to become
cheaper.
However, RBI has kept Cash Reserve Ratio unchanged at 4 per cent.
First bi-monthly monetary policy review 2016-17
1. Repo rate: The rate, at which RBI lends to the financial system, has
come down from 6.75 per cent to 6.5 per cent.

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2. Cash reserve ratio (CRR): RBI has unchanged CRR and kept it at 4.0
per cent of net demand and time liabilities (NDTL).
3. Reverse repo rate: The rate at which banks can keep excess funds
with the RBI, was hiked to 6 per cent.

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