Daily current affairs 1st October

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Sidimania

Date

October 1, 2022

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# RBI

  • Reserve Bank of India’s monetary policy committe on Friday voted 5-1 to increase its key policy rates by 50 basis points, the forth rise in five months.
  • The latest repo rate hike, aimed at reigning in inflation, will make all borrowings including home loans more expensive.
  • Several banks including SBI have already hiked lending rates.
  • RBI Governor Shaktikanta Das, announcing the increase in the repo rate to 5.9%, hinted more rate hikes were to come.
  • RBI on Friday cut its GDP forecast for 2022-23 to 7% from 7.2% but retained the inflation projection for the fiscal year at 6.7%.

# CNG, PNG rates

  • CNG and PNG will become dearer and input cost for fertilizer manufacturers will rise sharply with the centre on Friday raising the prices of natural gas produced from domestic fields by over 40% to record levels.
  • Gas produced from legacy fields given to ONGC and Oil India corporation will cost $8.57 a unit from Saturday.
  • But it is unlikely CNG and PNG operators will pass on the entire burden to consumers.

# United States

  • An Indian petrochemical firm was among companies sanctioned by US on Thursday for facilitating sale and shipping of Iranian petroleum products to end users in South and East Asia.
  • This is possibly the first time the US has imposed sanctions on an Indian firm for facilitating Iranian petroleum products.

# Ukraine

  • Russian President Vladimir Putin on Friday signed decrees to declare four Ukrainian regions parts of Russia.
  • Ukrainian president Volodomyr zelensky said on Friday Ukraine was formally applying for fast track membership of the NATO military alliance.

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