TODAY NEWS ON 5 MAY 2022
News Headlines
PM Modi leaves for home after concluding three-nation European tour
Prime Minister Narendra Modi left for home on Thursday, May 5, 2022, after concluding his three-nation European tour during which he held a series of bilateral meetings to boost ties in a range of areas including trade, energy and green technology.
Fed raises key rate by a half-point in bid to tame inflation
The United States Federal Reserve intensified its fight against the country’s worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signalling further large rate hikes to come.
LIC IPO: Policyholders’ portion oversubscribed; overall subscription at 66% on day 1
LIC’s public offer, the country’s biggest-ever IPO, saw the policyholders’ portion being oversubscribed on the first day itself on Wednesday, though overall subscription stood at just 66%.
PM Modi meets Norwegian counterpart in Denmark, discusses ways to deepen developmental cooperation
Prime Minister Narendra Modi on Wednesday met his Norwegian counterpart Jonas Gahr Store in Copenhagen and the two leaders took stock of the full range of bilateral relations, discussed ways to deepen developmental cooperation and exchanged views on regional and global developments.
RBI increases policy rates in sudden move; repo rate is higher by 40 basis points, cash reserve ratio up by 50 bps
Making an unscheduled announcement, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) of the RBI met in an off-cycle meet and decided to increase the policy rates to curb the rising inflation.
RBI move sends Sensex into downward spiral
Key indices crashed 2.29% in reaction to the development. The last time the repo rate was increased was in August, 2018. This time around, the market was not prepared for an off-cycle announcement.
President Kovind bats for conservation of local languages
His statement at the 61 st annual conference of the Bodo Sahitya Sabha (BSS) in western Assam’s Tamulpur attains significance after the row in the northeast over the Centre’s bid to make Hindi compulsory in high schools across the region.
Sri Lanka’s usable reserves now negligible, says Finance Minister
Sri Lanka’s usable foreign reserves are down to $50 million, as the cash-strapped island awaits assistance from the International Monetary Fund, which might take up to six months to come through, Finance Minister Ali Sabry said on Wednesday.
Russian troops enter Azovstal plant, top Ukrainian lawmaker says
Russian forces have entered the territory of Mariupol’s Azovstal plant, Ukraine’s ruling parliamentary faction head David Arakhamia said in a Wednesday evening comment to RFE/RL.
Govt’s wheat purchases set to halve; no plans to curb exports: Food secretary
The Centre’s wheat procurement is set to decline by more than half to 19.5 million tonnes in the the current rabi marketing year amid higher exports and likely fall in output, food secretary Sudhanshu Pandey said on Wednesday, and asserted there won’t be any concern for meeting the domestic demand under the Public Distribution System.
GK Details , Snapshots News,MCQ Daily
LAST MONTHS G.K.
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