Top 5 Current Affairs: 7 August 2019
RBI has reduced the Repo Rate in its Third Bi-monthly Monetary Policy Statement 2019-20 to 5.40 per cent from 5.75 per cent.
The Rajasthan Legislative Assembly today passed The Rajasthan Protection from Lynching Bill, 2019 against mob lynching and honour killing. The Bill penalises convicts involved in mob lynching with a fine up to Rs 5 lakh and life imprisonment.
The RBI has reduced the Repo Rate in its Third Bi-monthly Monetary Policy Statement 2019-20 to 5.40 per cent from 5.75 per cent. Consequently, the Reverse Repo Rate now stands at 5.15 per cent. It was RBI’s fourth rate cut in a row.
President Ram Nath Kovind has signed the Jammu and Kashmir Reorganisation Bill 2019 to abrogate the provisions of Article 370 of the Constitution. The Bill was earlier passed by Rajya Sabha and Lok Sabha. It calls for bifurcating Jammu & Kashmir into 2 Union Territories – Ladakh and J&K.
Former Union Minister Sushma Swaraj passed away on August 6, 2019, due to a cardiac arrest. She was 67. Sushma Swaraj had many feathers in her cap; she was a prolific political personality of India and won many hearts while she was holding the post of External Affairs Minister.
LIC’s ‘Jeevan Amar’ Plan has been launched by the Life Insurance Corporation of India with the aim of offering more flexibility to subscribers. This new term plan offers two options for subscriptions- Level Sum Assured and Increasing Sum Assured.