Top Best Current Affairs 23 May 2020 (3)

The Reserve Bank of India announced Rs.15,000 crore line of credit to the Export-Import Bank of India on 22 May. The move by RBI is to help the sagging foreign trade. EXIM Bank depends on foreign currency borrowings for its operations. The Bank has failed to raise the resources due to the COVID-19 pandemic.

The Reserve Bank of India on May 22, 2020 addressed the media and announced reduction in the Policy Repo Rate from 4.4% to 4%. The reverse repo rate was also reduced to 3.35 percent. The decision was taken by RBI's Monetary Policy Committee to maintain the accommodative stance. The GDP is expected to remain negative for 2020-21.

Public Sector Undertaking major Oil India Ltd informed that the Ministry of Environment, Forest and Climate Change gave environmental clearance for extension drilling and testing of hydrocarbons at 7 locations inside the Assam's Dibru-Saikhowa National Park from about 1.5 km distance outside the boundary of the forest with the help of the Extended Reach Drilling technology by which can reach the target depth of around 3.5 km beneath the surface of the National Park without carrying out any drilling activity inside the National Park .

KKR invests Rs 11367 crore in Reliance Jio Platforms to buy a stake of 2.32 percent in a fully diluted basis. The deal is subject to regulatory and customary approvals. This is fifth global investment deal in last one month. Earlier, Facebook, Silver Lake, Vista Equity and General Atlantic invested in the Jio Platforms.