Dear Aspirants,
- Exercise Malabar is a naval exercise b/w U.S.A, Japan & India.
- Bolivia Capital: Sucre, Currency: Bolivian boliviano.
- The currency of Switzerland is Swiss franc.
Business/Economy News
- Rajeev Sharma is the Chairman & Managing Director of Power Finance Corporation.
- PFC headquarters in New Delhi.
- PFC was incorporated on July 16th, 1986 and is a leading Non-Banking Financial Corporation in the Country.
i. State-owned gas utility GAIL India Ltd has signed an agreement with Bharat Heavy Electricals Ltd (BHEL) for cooperation in the development of solar power projects.
ii. The MoU aims at building a closer strategic partnership between the two Maharatna PSUs for jointly pursuing commercial solar power projects through participation in tariff / Viability Gap Funding (VGF) based competitive bidding process.
Static/Current Takeaways Important For LIC AAO Mains Exam:
- GAIL is India’s biggest natural gas company.
- BHEL is one of the few companies in the world, and only company in India, having the capability to manufacture the entire range of power plant equipment.
i. The Finance Ministry has decided to keep the interest rate unchanged on small savings schemes for the three-month period beginning April 1. The announcement covers small-saving schemes.
ii. The unchanged interest rate means the NSC (5 years) and the PPF (15 years) will fetch 8% interest, while money deposited in KVP will double in little over nine years. At the same time, if one is parking money in a fixed deposit with a maturity of five years with the State Bank of India, he/she will get 6.85%. Senior citizens will get half a percent more: 7.35%.
Static/Current Takeaways Important For LIC AAO Mains Exam:
- Based on the recommendations of the Shyamala Gopinath panel, interest rates on these schemes are reviewed before the end of every quarter, and accordingly, new rates are announced for the next quarter.
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