CONTENTS S. No. Chapter Name Page No. RBI 5TH BI-MONTHLY MONETARY POLICY REVIEW 1. 1 2020-21 2. INTERNATIONAL AND BILATERAL 2 3. NATIONAL 3 -6 4. STATES 7-11 5. ECONOMY AND BANKING 12-15 6. RBI UPDATES 16-17 7. SCHEMES & INITIATIVES 18-19 8. CABINET APPROVALS 20 9. SCIENCE AND TECHNOLOGY 21-22 10. DEFENCE 23 11. AWARDS AND HONOURS 24-25 12. SPORTS 26-27 13. OBITUARIES 28 14. REPORTS, INDICES AND RANKING 29 15. COMMITTEES 30 16. SUMMITS AND CONFERENCES 31 17. APPOINTMENTS 32 18. DAYS AND THEMES 33 19. DEFENCE EXERCISES AND OPERATIONS 34 20. BOOKS AND AUTHORS 34 21. CURRENT AFFAIRS PRACTICE QUESTIONS 35-50 •Telegram: https://t.me/IACE4GovtJobs •YouTube: https://rb.gy/zhm0ll March 2021– Digest 1. RBI 5TH BI-MONTHLY MONETARY POLICY REVIEW 2020-21 The Reserve Bank of India’s (RBI) Monetary Policy 0.625% by another six months i.e. from April 1, Committee (MPC) met on 3rd, 4th and 5th February, 2021 to October 1, 2021. 2021 which projected India’s gross domestic Product ➢ Apart from above, it was also decided to defer the (GDP) growth at 10.5% for the FY2021-22, 26.2 to implementation of Net Stable Funding Ratio 8.3% in H1 FY22 and 6.0 % in Q3 FY22.This is 5th (NSFR) from April 1, 2021 to October 1, 2021 Bi-Monthly Monetary Policy Committee Meeting for amid COVID-19 stress. FY 2020-21.The projection of Consumer Price Index ➢ RBI also decided to extend the dispensation of (CPI) inflation has been revised to 5.2% for the Q4 enhanced HTM of 22% up to March 31, 2023 FY21, 5.2 % to 5.0 % in H1 FY22 and declined to include securities acquired between April 1, 2021 4.3% by Q3 FY22. and March 31, 2022. ➢ The MPC has given the mandate to maintain annual ➢ The Reserve Bank on September 1, 2020, increased inflation at 4% until March 31, 2021 with an upper the limits under Held to Maturity (HTM) category tolerance of 6% and lower tolerance of 2% i.e. within from 19.5% to 22% of net demand and time a band of +/- 2 %. liabilities (NDTL) in respect of statutory liquidity ➢ The MPC kept the interest rates unchanged the fourth ratio (SLR) eligible securities acquired on or after time in a row which are as follows: September 1, 2020, up to March 31, 2021. Policy Repo Rate 4.00% ➢ The retail investors are allowed to access Reverse Repo Rate 3.35% government securities (G-Secs) market both Marginal Standing Facility (MSF) 4.25% primary and secondary – directly through the Rate Reserve Bank (‘Retail Direct’) along the facility to Bank Rate 4.25% open their gilt securities account. With this, India Highlights of Monetary Policy review has become the first country to do so. ➢ RBI extends Targeted Long Term Repo Operations ➢ The digital payments ecosystem, major payment (TLTRO) scheme to NBFCs system operators are required to set up centralised ➢ The RBI also extended the deadline for meeting the industry-wide 24×7 helpline by September, 2021. last tranche of capital conservation buffer (CCB) of 1 IACE (Indian Academy of Competitive Exams) www.iace.co.in Toll Free: 1800-270-9975, Ph: 9533200400 •Telegram: https://t.me/IACE4GovtJobs •YouTube: https://rb.gy/zhm0ll March 2021– Digest 2. INTERNATIONAL AND BILATERAL US officially rejoined Paris Climate Sea which will produce and store green energy Agreement enough to cover the electricity requirement of 3 ➢ On 19th February 2021, the United States of million households in Europe. America (USA) formally rejoined the Paris ➢ The construction of the island will cost around Climate agreement which was adopted by 196 210 billion Danish krone (around Rs.2.4 lakh countries in 2015. crore). Energy target of Denmark: Denmark aims ➢ The new government of America under Joe to reduce greenhouse gas emissions by 70% by Biden aims to strengthen the US’s 2030 emission 2030 from 1990 levels. reduction pledge under the pact by 22nd April ➢ The island is expected to commence operation by 2021, Earth day. Gina McCarthy has been named 2033. as the head of a new National Climate Task • Denmark Capital: Copenhagen Force. •Currency: Danish krone ➢ America is the biggest historical polluter and • PM: Mette Frederiksen 2nd biggest current emitter after China. European Saudi Arabia allows women to join Union nations and India are in 3rd and 4th armed forces position. ➢ In a landmark decision, the Kingdom of Saudi South Korea signs $43 billion deal to Arabia has allowed Saudi Arabian women to take create world’s biggest offshore wind up arms and enter the military. farm ➢ Saudi Arabian women can now be employed as ➢ On February 5, 2021 South Korean President soldiers, lance corporals, corporals, sergeants and Moon Jae-in announced a $43 billion deal to staff sergeants. The Military is the latest create world’s biggest offshore wind farm, a profession in the Kingdom that has opened up to major component of South Korea’s Green New female recruits. Deal. With this deal the South Korean • Saudi Arabia Capital: Riyadh government plans to attain Carbon neutrality by •Currency: Danish krone 2050. • King : Mohammed bin Salman ➢ The plant is planned at the south western coastal Myanmar political crisis: Military takes town of Sinan. control of the country, declares state ➢ Maximum production capacity- 8.2 Gigawatts of emergency (GW) which is equivalent to the generation ➢ The Myanmar military on February 1, 2021, capacity of 7 Nuclear power generators. staged a coup and declared a state of emergency ➢ This will boost the wind power capacity upto in the country for one year. The powerful 16.5 GW by 2030. military has also detained the state counsellor of • South Korea Capital: Seoul Myanmar Aung San Suu Kyi and several other • Currency: Won civilian leaders. • President: Moon Jae-in ➢ Currently, the state power has been handed over Denmark is set to build the world’s to Min Aung Hlaing, Commander-in-Chief of first energy island in North Sea Defence Services, while the first Vice President ➢ On 4th February 2021, the Government of of Myanmar Myint Swe will be serving as the Denmark approved the plan to build the world’s acting President of the country. first energy island (Artificial island)in the North • Myanmar Capital: Naypyitaw •Currency: kyat 2 IACE (Indian Academy of Competitive Exams) www.iace.co.in Toll Free: 1800-270-9975, Ph: 9533200400 •Telegram: https://t.me/IACE4GovtJobs •YouTube: https://rb.gy/zhm0ll March 2021– Digest 3. NATIONAL National Urban Digital Mission every dropped out and left out child and pregnant launched woman. ➢ Union Housing and Urban Affairs Minister, ➢ The scheme was launched in 2014 to provide Hardeep Singh Puri and Minister of Electronics affordable and accessible healthcare to all and IT Ravi Shankar Prasad launched the citizens of the country. National Urban Digital Mission’ (NUDM) at a ➢ It aims to immunise all children under the age of virtual event, to create a digital infrastructure for 2 years, as well as all pregnant women, against cities in India. eight vaccine-preventable diseases. ➢ The NUDM has been launched jointly by the ➢ These diseases are diphtheria, whooping cough, Ministry of Housing and Urban Affairs along tetanus, poliomyelitis, tuberculosis, measles, with the Ministry of Electronics and Information meningitis and Hepatitis B. Technology. MSDE launches Mahatma Gandhi ➢ The mission aims to put in place a “citizen- National Fellowship 2021-23 centric” and “ecosystem-driven” approach to ➢ Ministry of Skill Development and ‘urban governance and service delivery in cities Entrepreneurship (MSDE) launched a Two-year by 2022, and across all cities and towns by 2024. Mahatma Gandhi National Fellowship (MGNF) The mission has three pillars – people, process, 2021-23 programme during the event and platform. ‘Transforming Skilling through Strategic ➢ Apart from this, several other digital initiatives of partnerships under SANKALP’. MoHUA also launched which includes: India ➢ MGNF will be a certificate program in Public Urban Data Exchange (IUDX), SmartCode Policy and Management offered by IIMs. platform, Smart Cities 2.0 website, and ➢ The fellowship has been rolled out under the Geospatial Management Information System World Bank loan assisted programme (GMIS). SANKALP (Skills Acquisition and Knowledge Dr Harsh Vardhan launched Intensified Awareness for Livelihood Promotion) and will be Mission Indradhanush (IMI) 3.0 hosted by the 9 IIMs (Indian Institutes of ➢ Union Health and Family Welfare Minister, Dr Management). Harsh Vardhan has launched the Intensified ➢ MSDE will implement the fellowship in Mission Indradhanush 3.0, (IMI 3.0), to expand collaboration with State Skill Development immunization coverage across the country. Missions (SSDMs). ➢ The focus of IMI 3.0 will be on children and ➢ IIT Delhi and IIT Kharagpur were taken as pregnant women who missed their vaccine doses evaluation partners for DSDP Awards. during the COVID-19 pandemic. ➢ The scheme will be rolled out in more than 660 ➢ The IMI 3.0 will have two rounds, of 15 days districts across India. each. Kushinagar Airport gets international ➢ The first round will begin on February 22, 2021, airport licence from DGCA and the second round will begin on March 22, ➢ The under-construction Kushinagar Airport in 2021. Uttar Pradesh has received the necessary ➢ The vaccination drive will be conducted in pre- clearances from aviation regulator Directorate identified 250 districts and urban areas across 29 General of Civil Aviation (DGCA) to operate States and UTs in the country to reach out to international flights. Once operational, 3 IACE (Indian Academy of Competitive Exams) www.iace.co.in Toll Free: 1800-270-9975, Ph: 9533200400 •Telegram: https://t.me/IACE4GovtJobs •YouTube: https://rb.gy/zhm0ll March 2021– Digest Kushinagar airport will become the third India & Maldives sign 5 MOU’S to boost functional international facility in the state.