# RBI

• The Monetary policy committee (MPC) of the reserve bank of India on friday left benchmark interest rates like repo rate and reverse repo rate unchanged and retained an “accommodative” stance.

• This step signifies the priortizing of support for the economy over “sticky” inflation amid the covid-19 pandemic.

• RBI also projected that the GDP contraction would narrow to 7.5% for the financial year ending in march 2021. Earlier, RBI had projected the contraction of 9.5% in GDP for this financial year.

• Citing the improvement in activity in the second quarter, it projected that GDP would return to growth of 0.1% in quarter 3 and expand 0.7% in quarter 4.

# GHMC polls

• The ruling party in Telangana i.e telangana rashtra samiti (TRS) won 56 seats out of 150 wards in greater hyderabad municipal corporation (GHMC) polls, while BJP won 48, AIMIM won 44 seats and congress won 2 seats.

• This time the post of the mayor is reserved for a woman.

• MLA and MLCs of the areas in which GHMC polls were conducted are ex-offico members of GHMC. So, they also vote for the election of mayor.

# Army chief

• Army chief general Manoj mukund naravane is scheduled to visit Saudi arabia and the UAE next week.

• It is a significant visit as the Pakistan is considered to be a very close defence partner of gulf countries.

# India-Australia T20I

• India won the 1st T20 international at canberra on friday.

• A major controversy occured in the match after chahal was included in the Indian team as a “concussion substitute” after jadeja was hit on the helmet while batting.

• Australia objected that jadeja is an all rounder. So, only an all rounder can replace jadeja according to the rule of like for like substitution. They claimed yuzvendra chahal is a full time bowler.

# Today in India’s history

• 1950 – Sikkim becomes a protectorate of India.

• 1950 – Sir Aurbindo ghosh, great revolutionary, freedom fighter and teacher, passed away.