Current Affairs – January, 2015

RBI cuts repo rate by 25 basis point

Reserve Bank of India (RBI) has cut down repo rate by 25 basis points to 7.75 percent from 8 percent, with immediate effect.

It was announced ahead of the scheduled date of monetary policy announcement on 3rd February 2015 as part of RBI’s 6th bi-monthly monetary policy statement.

RBI’s 6^th bi-monthly monetary policy statement says that

• Repo rate: RBI has reduced the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 8.0 per cent to 7.75 per cent.
• Cash reserve ratio (CRR): RBI has unchanged CRR and kept it at 4.0 per cent of net demand and time liabilities (NDTL).
• Reverse repo rate: RBI has adjusted reverse repo rate under the LAF to 6.75 per cent.
• While, RBI has adjusted Marginal standing facility (MSF) rate and the Bank Rate to 8.75 per cent with immediate effect.

Team India unveils new eco-friendly ODI jersey kit

Indian cricket team has unveiled new eco-friendly ODI jersey ahead of the triangular series starting in Australia on 16 January 2015. It was unveiled in Melbourne.

Key facts of Team India’s eco-friendly ODI jersey

• It is made out of 100% recycled polyester obtained from 33 recycled plastic bottles.
• The new light weight kit combines high performance innovation with sustainability.
• The jersey is light, comfortable and packed with innovation.
• This eco-friendly jersey kit is made by BCCI’s official apparel sponsor Nike.